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Business Establishment Saving 80% of Costs

Asoka Law is an efficient counsel for 1000+ enterprises from the time of being established, we have not missed any procedure and handover all the original documents to Clients. So, Client could completely set your mind at rest about conducting business with us.

Choose the company type
suitable for your business

Choose the company type <br>suitable for your business
  • Single-member Limited Liability Company (SLLC)

    Owned by an individual or organization known as the member whose liability is limited within the company's charter.

    Advantages:
    • Owners have full control over their company matters.
    • Easy to manage and low-risk because the members are not personally liable for their companies' debts.
    Disadvantages:
    • Unable to raise capital as a SLLC is not allowed to issue shares (if the company wants to raise capital, it must register to change into a multi-member LLC or a joint stock compani).
    • When corporate income tax is calculated, the owner's salary is not deductible.
  • Multiple member limited liability company (MLLC)

    This type of business is owned by 2-50 members who are individuals or organizations; their liabilities are limited within each one's capital contribution.

    Advantages:
    • There are a few risks involved because each member's liability is only within their capital contribution.
    • The company is protected from outside intrusions as its member must be given priority in capital assignment - or the member in need of capital assignment must receive other members' consent to transfer their stakes to another entity.
    Disadvantages:
    • The number of members is limited, up to 50.
    • Limited fund for large projects as capital mobilization is impossible
  • Joint stock company (JSC)

    - An enterprise with at least 2 members who are individuals acting as joint owners of the company, doing business together under the same name (known as general partners). In addition, there might be capital contributors in the company.

    Advantages:
    • Able to gain trust in business relationships as a partnership is based on the general partners' reputation and assets.
    • The liability for shareholders is limited to their value of investment in the business.
    • Is allowed to issue a range of shares to raise capital.
    Disadvantages:
    • Complicated management.
    • Financial, accounting and controlling activities are more difficult than in other business models.
  • Partnership

    An enterprise with at least 2 members who are individuals acting as joint owners of the company, doing business together under the same name (known as general partners). In addition, there might be capital contributors in the company.

    Advantages:
    • Able to gain trust in business relationships as a partnership is based on the general partners' reputation and assets.
    Disadvantages:
    • General partners are not allowed to transfer part or all of their capital contribution in the company to other entities without the consent of the remaining general partners.

Service packages recommended by Asoka Law

Our business registration services come with starting prices of only 1.8 million VND/4 items for the Basic package and 6 million VND/12 items for the Comprehensive package.

Basic pack

From2.000.000VNĐ

  • Preliminary consultation with legal specialists Preliminary consultation with legal specialists
  • Business Registration Certificate Business Registration Certificate
  • Publish business information Publish business information
  • Enterprise seal Enterprise seal
  • Standard small signboard
  • Business bank account registration support
  • Digital signature registration (1 year)
  • Preparing, submitting, and receiving initial tax registration applications
  • License tax paying support
  • Paper/ electronic bills printing support
  • Making books of shareholders/ capital contributors
  • Making certificate of share/ capital contribution

Comprehensive pack

field-17.png

From6.000.000VNĐ

  • Preliminary consultation with legal specialists Preliminary consultation with legal specialists
  • Business Registration Certificate Business Registration Certificate
  • Publish business information Publish business information
  • Enterprise seal Enterprise seal
  • Standard small signboard Standard small signboard
  • Business bank account registration support Business bank account registration support
  • Digital signature registration (1 year) Digital signature registration (1 year)
  • Preparing, submitting, and receiving initial tax registration applications Preparing, submitting, and receiving initial tax registration applications
  • License tax paying support License tax paying support
  • Paper/ electronic bills printing support Paper/ electronic bills printing support
  • Making books of shareholders/ capital contributors Making books of shareholders/ capital contributors
  • Making certificate of share/ capital contribution Making certificate of share/ capital contribution

Consulting on business establishment

Consulting on business establishment bg

Choosing the right type of enterprise establishment will provide a good start for your business. Asoka Law accompanies and support you to choose the right type, not missing the necessary procedures.

Asoka's team of lawyers and experts with over 10 years of experience in many specific business areas will offer you useful advice. You are not alone. Asoka Law will help you choose and do business rightly from the start.

3-step Business Registration at Asoka Law

Asoka Law has helped more than 1,000 businesses successfully start up the company with a simple 3-step process.
At every and every step, we closely pack and give timely advice - enterprises only need to take care of doing business.
1. Contacting for advice

1. Contacting for advice

Contact Asoka Law to be given advice or support in checking business establishment conditions for free by our business registration consulting specialists. You can also request in-depth consultation with our managing lawyer for a complete legal roadmap for your business.

2. Sign contract

2. Sign contract

Asoka Law staff goes to the location you request to sign the contract and the prepared application. After obtaining the business registration certificate, we will set up a complete business profile for your company at the Bank/Tax office to ensure perfect operation, without missing any procedures.

3. Get results

3. Get results

Asoka Law provides complete results/original applications with instructions for document maintenance. Business owners are entitled to 01 hour of free consultation with our lawyer. You can ask our lawyer and listen to consultations on issues related to running the business in your own field.

1000+ Clients trusting Asoka Law

1 Beauty is a business specializing in distributing cosmetics imported from the US. Asoka Law has supported us at many stages, since our first establishment in 2017 and change in the type of business in 2018. In 2019, we continued to move our business location. Asoka Law has helped us in all these and other regular legal management activities.

MR. ALLAN

CEO 1 Beauty

My company specializes in the production of nutritious drinking water. During the establishment process, I was quite worried because the F&B industry had a lot of complicated procedures. However, Asoka Law Firm is very professional and knowledgeable about this industry. For all necessary licenses, staff and specialists from Asoka Law advise and support me in detail. I am completely satisfied when using business related services at Asoka Law.

MR. ROBERT VŨ

Director of VM Nutrition

I contributed capital to establish a business of importing and exporting fashion clothes from Korea to Vietnam with a Vietnamese partner. Asoka Law has sent legal specialists and lawyers to assist and answer legal questions since we were just about to set up. I am completely assured when doing business in Vietnam with the comprehensive support of Asoka Law.

MR. AN

Investor - L'affair Asia
MR. ALLAN
MR. ROBERT VŨ
MR. AN

Asoka Law fully supporting businesses since incorporation

Asoka Law always provide enterprises with comprehensive legal services. We are committed to supporting our clients when doing businesses by offering the most convenient and easy-to-use services.

Frequently asked Questions

Company Types
Are private enterprises allowed to purchase capital contribution from other companies?

No. Private enterprises are not allowed to contribute capital for business establishment or purchasing shares/capital contributions in partnerships, limited liability companies, or joint stock companies.

Are Single-member limited liability companies (SLLCs) allowed to raise capital contributions from others?

Yes. When deciding to do so, SLLCs must carry out procedures for converting business types into multi-member LLCs (two or more), or joint stock companies (JSCs).

How many members are multiple member LLCs allowed to have in maximum?

Up to 50 members.

Company Names
How to properly name my company?

Here is the structure for naming companies: "Type of business" + "company is proper name". You should do a quick search at the National Business Registration Portal in advance to check whether you intended name is already used by others or can lead to confusions.

What to do if the name I intend to use is already taken?

To avoid confusion or duplication, you should add elements of business lines in your company names. For example, if "Thang Loi Co., Ltd." is already taken, you can add information describing your business, changing it into " Thang Loi Imported American Goods Distributors Co., Ltd.".

Where can we look up other companies' names?

Sources for searching company names are varied; however, a reliable information source is the National Business Registration Portal: https://dangkykinhdoanh.gov.vn

Office Addresses
Can I register my business office at an apartment building?

According to Clause 1, Article 6 of the 2014 Law on Housing, using an apartment with non-residental purposes is prohibited. Therefore, businesses cannot establish their office addresses at apartment buildings.

Do I need a tenancy contract for business establishment?

For business establishment in Vietnam, you do not need tenancy contracts. Instead, you must guarantee that the head office you register for business is under the company is legal ownership/use rights and is properly used in accordance with the law.

Can I do business in all lines at the headquarter?

There are some business lines not allowed to perform business at the headquater, such as: producing fertilizers, chemicals, paints, and cosmetics; printing; and selling raw materials as they will negatively affect nearby residential areas or neighborhoods.

Business lines
Can I run unregistered businesses?

As stipulated in Article 7 of the 2014 Law on Enterprises, enterprises are "free to perform business in lines not prohibited by the law". However, the Law on Enterprise also states that enterprises have to notify the Business Registration Agency on any changes regarding their business lines within 10 days. Therefore, enterprises still have to fully register their business lines if they want to perform related business activities.

What are conditional business lines?

They are lines in which business registration must meet some specific requirements as set by respective Regulatory Agencies, depending on specific characteristics of each field.

Where can I look up business codes?

Currently, Vietnamese business line codes system is specified in Decision No. 27/2018/ QD-TTg. For more convenient search, you may access the National Business Registration Portal (dangkykinhdoanh.gov.vn), and look for "enterprise search" section to look up business codes online.

Companies' members/ owners
Can anyone be business owners?

No. There are some organizations/individuals that do not have any rights to set up or run businesses (meaning they cannot be business owners) in Vietnam - according to Clause 2, Article 18, the 2014 Law on Enterprises.

Can individuals under 18 years old establish their companies in Vietnam?

No. As regulated in the 2014 Law on Enterprises, "any individuals under 18 are not allowed to establish and manage businesses". This means, those under 18 years old cannot set up a company on their own (they are not considered adults).

Are companies allowed to have several legal representatives?

Yes. Limited liability companies and joint stock companies may have one or more legal representatives. The number of legal representatives of a business, their managerial positions, rights, and obligations are specified in the company charter.

Capital contribution
Is it possible to contribute capital in gold?

Yes. As stipulated in Article 35 of the 2014 Law on Enterprises, capital contribution assets can be Vietnamese Dongs, freely convertible foreign currencies, gold, value of land use rights, value of intellectual property rights, technologies, technical know-hows, and other assets that can be valued in Vietnamese Dong.

Is it possible to contribute capital through technology ownership?

Yes. According to Article 35 of the Law on Enterprises, individuals/organizations can contribute capital through technologies or technical know-hows.

How to value assets when contributing capital through technologies?

As regulated in the Law on Enterprises 2014, if contributed assets are not Vietnamese Dongs, convertible foreign currencies, gold but are in the forms of technologies, they must be quoted and expressed in Vietnamese Dong by company members, founding shareholders, or professional valuation organizations.

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Choose the right form of company to start your business smoothly today

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