Establishing a technology company is a hot startup trend today. However, to realize the idea, entrepreneurs need to understand the conditions, documents and legal procedures. LawFirm.Vn will accompany you from A-Z on this journey!
1. What is a technology company?
A technology company is a type of business operating in the technology sector, including manufacturing, providing high-tech services, researching and developing new products and technological solutions. These companies often apply scientific and technical knowledge to solve practical problems or improve work efficiency, and can operate in areas such as information technology, high technology, financial technology (Fintech), and other technology industries.
According to Vietnamese law, a high-tech enterprise is an enterprise that produces high-tech products, provides high-tech services, and conducts high-tech research and development activities. These enterprises often have high-tech production lines and operate based on the results of scientific and technological research.
2. Procedures for establishing a technology company
The order and procedures for registering to establish a basic technology company include the following 3 steps: (i) Checking the conditions for business registration; (ii) Submitting documents, receiving results of company and enterprise registration; and (iii) Announcing the contents of business registration.
2.1. Check the business registration conditions
Before registering to establish a company or business in the technology sector, the founder(s) need to check the prerequisites before submitting the business registration application such as:
– Subjects establishing and managing companies and enterprises : According to the provisions of Clause 1 and Clause 2, Article 17 of the Law on Enterprises of Vietnam 2020, all organizations and individuals have the right to establish and manage enterprises in Vietnam according to regulations, except in cases prescribed by law.
– Type of business registration : According to Vietnamese law, there are currently 05 types of enterprises, including: Private enterprise; Partnership ; Single-member LLC ; LLC with two or more members and Joint Stock Company .
– Company/enterprise name : When naming a company, the enterprise must comply with the naming regulations in the Law on Enterprises of Vietnam 2020, and must not use a name that is the same or confusing with another company or enterprise.
– Head office address : The head office of a company or enterprise must be located in Vietnam, is the contact address of the enterprise and is determined according to the administrative unit’s boundaries.
– Charter capital : is the total value of assets contributed or committed to be contributed by company members and company owners when establishing a limited liability company or partnership; is the total par value of shares sold or registered to be purchased when establishing a joint stock company.
– Business lines : Companies and enterprises expected to be established must register their business lines and codes according to the provisions of Decision 27/2018/QD-TTg on the Vietnamese Economic Sector System .
In the technology sector in Vietnam, there are a number of business lines that are regulated as conditional, meaning that businesses wishing to operate in these sectors must meet certain legal, technical or professional conditions. Below are some conditional business lines in the technology sector:
- Intellectual property and industrial property appraisal services
- Specialized technology business serving national defense and security
- Technology assessment service business
- Industries related to the production and trading of equipment, software, and support tools in the technology field, such as seal production, trading of support tools, and repair of technology equipment.
- …
These industries all require businesses to meet licensing, certification or professional qualifications requirements as prescribed by Vietnamese law.
When registering a business line, businesses need to consider and choose the most suitable industry or profession to ensure business operations take place effectively.
Below are some industry and occupation codes that companies should consider and refer to when carrying out procedures to register to establish a technology company:
Industry and occupation codes registered for technology companies
2.2. Submit application and receive results of registration to establish a technology company
2.2.1. Profile components
According to the provisions of the Law on Enterprises of Vietnam 2020, Decree No. 01/2021/ND-CP dated January 04 2021 on enterprise registration, depending on the type of enterprise, the registration dossier for establishing a technology company includes one of the following documents:
– Application for business registration;
– Technology company charter;
– List of members/shareholders;
– Personal legal documents;
– Authorization document to carry out procedures.
2.2.2. Place of submission
The founder of a company, enterprise or company, enterprise or authorized person shall carry out business registration procedures in the following manner:
– Register your company or business directly at the Business Registration Office;
– Registering companies and businesses via postal services;
– Register a company or enterprise online at the National Business Registration Portal .
2.2.3. Time limit for settlement
The time limit for processing company and enterprise registration applications is 03 working days from the date of receipt of valid applications.
2.2.4. Get results
After the registration application is approved by the competent state agency, the company or enterprise will be granted a Certificate of Business Registration.
2.3. Announcement of business registration content
After being granted a Certificate of Business Registration, a company or enterprise must publicly announce it on the National Business Registration Information Portal and pay fees as prescribed by law. The announcement includes the contents of the Certificate of Business Registration and the following information:
– Business line;
– List of founding shareholders; list of shareholders who are foreign investors for joint stock companies (if any).
Note: The company needs to carry out other necessary procedures after establishing the company or enterprise .
3. Technology company establishment service at LawFirm.Vn
The service of establishing a company or business in the technology sector at LawFirm.Vn helps customers save a lot of time and effort. Coming to LawFirm.Vn, you will be provided with the service of establishing a technology company including:
- Consulting on processes and procedures for establishing a technology company;
- Advise customers to prepare necessary documents;
- Draft and submit company and business establishment documents on behalf of clients at the Business Registration Office;
- Monitor records, supplement or correct records (if any) as requested by the specialist;
- Carry out procedures for publishing business registration information on the Information Portal;
- Hand over business license;
- Instructions on procedures to note after establishing a company or business for customers…
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