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Thứ 6, Ngày 22/01/2021, 15:00
New regulations on enterprise registration
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22/01/2021 | Nguyen Trang

​PORTAL - The Government has just issued the Decree no. 01/2021/ND-CP on enterprise registration. This is the first Decree issued by the Government in 2021, concretizing the reforms and innovations of the Law on Enterprises, at the same time, overcoming shortcomings, handling problems in recent years, continuing to create a more favorable and safe business environment for the establishment and operation of enterprises, with 5 important reforms.

​​These 5 reforms include: Reducing administrative procedures and creating more favorable conditions for enterprise establishment; improving the legal framework of enterprise governance and enhancing the level of investor and shareholder protection according to international standards and practices; improving governance effectiveness of state-owned enterprises in the spirit of the Resolution no. 12-NQ/TW of the Central Executive Committee; contributing to supplement the capital market development channel in order to diversify capital sources for production, business investment and facilitate the enterprise reorganization and acquisitions.

First of all, the Decree clearly and specifically stipulates the application, order and procedures for enterprise registration, simplifies and reduces the composition of the application, offloads the required infor​mation by taking advantage of the information available in National Business Registration System and connected information systems. Annulling a number of unnecessary administrative procedures such as announcement of the seal, notification of information changes in the enterprise's manager, offering individual shares, etc.

Along with that, continuing to modernize, strongly transforming enterprise registration through upgrading and perfecting regulations on online enterprise registration, providing most online public services at level 4 to help reduce the time and cost of establishing an enterprise, at the same time, contributing to build a transparent enterprise registration system, minimizing the negative effects that may arise from human intervention. Publicizing basic information about enterprises on the National Business Registration Portal to create conditions for people to easily access official and legally valid information about the enterprises, increasing community supervision for enterprise activities, contributing to improving the efficiency of "post-inspection" work and the transparency of business environment.

The Decree also adds a new enterprise community to register enterprises at the business registration agency, which are securities companies, securities investment fund management companies, securities investment companies, branches of foreign securities companies and branches of foreign fund management companies in Vietnam in accordance with the Law on Securities 2019.

The Decree completes regulations on handling administrative violations in the field of enterprise registration, especially, thoroughly handling acts of untruthful and inaccurate declaration, forging enterprise registration documents, dealing with "escaped or missing" enterprises in order to increase deterrence, contribute to creating a healthy and safe business investment environment.

The Decree has integrated 4 processes including: Enterprise establishment registration; social insurance registration; declaration of labor; use registration of invoices in 01 process. Accordingly, enterprises will only have to prepare 01 set of documents, declare 01 form, perform procedures at 01 business registration agency and receive only 01 result. State agencies will share information with each other instead of requiring enterprises to declare in many places as before. The entire process of information exchange between state management agencies will be done online.

After implementing these reforms, the process of starting a business in Vietnam has been reduced from 8 procedures with 16 days to only 3 procedures with 6 days, helping to make a big step in starting a business in Vietnam.

From January 4, 2021, staff in charge of business registration, enterprise founders and enterprises can register enterprises on the new system. The entire system of forms in business registration which is developed under the new legal framework, has also been publicly posted on the National Business Registration Portal and integrated into the System for for people, enterprises and business registration agency to refer and implement.

To ensure that from January 01, 2021, the implementation of administrative procedures of enterprises will not be interrupted, the Ministry of Planning and Investment has established hotlines to support localities and upgraded the call center 19001026 to support people in implementing enterprise registration according to the new regulations.​

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