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
