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
