CIRCULAR 2 ON CHANGES IN ENTERPRISE REGISTRATION

LEGAL UPDATE

On 11 March 2019 Circular No. 2/2019/TT-BKHDT (Circular 2) took effect and amended Circular No. 20/2015/TT-BKHDT (Circular 20). Circular 2 provides guidance on enterprise registration in relation to Decree 108/2018/ND-CP (Decree 108) that entered into effect in October 2018.

1. Business Registration Templates

Circular 2 comes with a complete, new range of standard forms and templates which need to be used to register a business. In total there are 89 templates. However, if an application was submitted before the date of entry-intoforce, the authorities should accept it.

2. Information Requested

Some of the requirements to submit information related to tax and accounting are deleted.

3. Registration Procedure

Circular 2 amends the legal basis for the procedure for re-issuance of the certificate of registration of a branch, a representative office or a business location; and announcement of changes in information about a founding shareholder of a joint stock company. This is due to the entering into force of Decree 108.

4. Relevant Authority

The Business Registration Office of the province where the branch, representative office or business location is located, will be in charge of issuance, or re-issuance of business registration, decisions on business resumption ahead of schedule and dissolution; and on notification of seal design related to the branch, representative office and business location. It will no longer be the Business Registration Office in the province where the head office of the enterprise is located.

For more information, please contact:

Mark Oakley / Managing Partner

mark.oakley@acsvlegal.com

Phuong Huynh / Associate

phuong.huynh@acsvlegal.com

© 2019 ACS Legal Vietnam Company Limited – All rights reserved

This legal update is not an advice and should not be treated as such.

Open in pdf: Update on Circular 2 on Changes in Enterprise Registration