Provisions on announcing of business information are stipulated in the Law on
Enterprise and other decrees which company has to comply as part of compliance
procedures.
After being granted an
enterprise registration certificate, under the Enterprise Law, an enterprise
must publicly announce it on the National Business Registration Portal
according to the order, procedures and pay fees as required. The application
for publication of enterprise registration information is a compulsory
procedure, made at the time an enterprise submits its enterprise registration
dossier. Information about publication of
enterprise registration information is posted on the National
Business Registration Portal. The content to be published includes the contents
on the enterprise registration certificate and the lines of business. In
addition, for joint stock companies with foreign investors, a list of founding
shareholders and foreign investors is required. In case of changes in
enterprise registration contents, the corresponding changes must be publicly
announced on the National Business Registration Portal.
Provisions on form, time
and content of announcement are different from those in the Law on Enterprise,
specifically, within a period of thirty days from the date of being granted an
enterprise registration certificate, an enterprise must publish information in
one of the forms posted on the business information network of the business
registration agency or one of the written or electronic newspapers in three
consecutive issues. The main content to be published includes: Company’s name;
Address of the head office of the enterprise, branch or representative office;
Lines of business; Charter capital of limited liability company and partnership
company; number of shares and value of contributed capital and number of shares
to be issued with joint stock company; initial investment capital for private
enterprises; legal capital for enterprises conducting lines of business
requiring legal capital; Full name, address, nationality, ID card number,
passport or other legal personal identification number, establishment decision
number or business registration code of the owner, member or shareholder
foundation; Full name, permanent address, nationality, ID card number, passport
number or other legal personal identification of the legal representative of
the enterprise; Place of business registration.
For publication fees,
according to the provisions of Circular no. 47/2019/TT-BTC stipulating the
rates, collection, payment, management and use of information provision charges
of enterprise information that takes effect from the date of On September 20,
2019, the enterprise registration fee and the enterprise registration content
announcement fee are VND 100,000/time, instead of the VND 300,000/time as
stipulated in Circular no. 215/2016/TT-BTC regulating the rates, collection,
remittance, management and use of charges for provision of enterprise
information and enterprise registration fees.
In addition, there are
some enterprises that do not need to publish their business information on the
National Business Registration Portal before going into operation, but make
other forms of announcement. For example, for a law-practicing organization,
within thirty days after being granted operation registration papers,
law-practicing organizations must publish on daily newspapers of central or
local registry of law practice or newspaper for three consecutive issues. For
credit institutions, foreign bank branches, representative offices of foreign
credit institutions and other foreign institutions engaged in banking
activities, they must be published on the State Bank’s media, and in a daily
newspaper written in 03 consecutive issues or an electronic newspaper of
Vietnam at least thirty days prior to the scheduled date of operation of
opening information as prescribed in Article 25 of the Law on Credit
Institutions 2010.
In addition to
disclosing corporate information, there is also a procedure for disclosure of
information on the stock market that is applicable to public companies and bond
issuers (except for government bond issuers and bonds), government-guaranteed
bonds and local government bonds), securities companies, fund management
companies, branches of foreign fund management companies in Vietnam,
public funds. These companies and organizations must comply with the law on
securities in the Securities Law announcing on the company’s website and
information disclosure system of the State Securities Commission.
ANT
Lawyers is a law firm in Vietnam located
in the business centers of Hanoi, Danang, Ho Chi Minh city. We provide
convenient access to our clients. Please contact our lawyers in Vietnam for
advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529
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