Regulatory confusion over enterprise registration

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The Ministry of Planning and Investment issued Circular No 01/2013/TT-BKHDT on January 21, providing stricter guidelines on enterprise registration. The circular was promulgated pursuant to Government Decree No 05/2013/ND-CP, issued on January 9.

Circular No 01 requires that an enterprise obtain a code from the Vietnam Systems of Economy Index when applying either for newly granted or amended enterprise certificate. The circular also allows an enterprise to use its head office’s location as part of its corporate name for distinguishing purpose, provided that it will not violate any intellectual property rights or regulations. Under the circular, the signatory of a single-member limited liability company must be the owner, CEO or chairman of the members council. The signatory of a multiple-member limited liability company must be the chairman of the members council, while the signatory of a joint stock company must be the chairman of the board of management. Circular No 01 also provides that changes to the founding shareholders named on the enterprise registration certificate can only be made during the first three years after the certificate is issued. While online enterprise registration was established under Decree No 43/2010/ND-CP, this has not yet taken place in practice. Circular 01 allows enterprises to choose online registration or desk registration. In case of online registration, the applicant must have a proper electric signature complying with Article 3.4 of Decree No 26/2007/ND-CP of February 2007, or must obtain a Business Registration Account created by National Enterprise Database System for authentication purposes. National Enterprise Information Portal at will provide further information about electronic business registration. Circular No 01 takes effect on April 15 and supersedes Circular No 14/2010/TT-BKH of June 2010.

Source: Vietnamnet

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