According to the provisions of Decree No. 01/2021/ND-CP on business registration, the applicant for enterprise registration shall pay the enterprise registration fee and fee at the time of submitting the enterprise registration application. Fees and charges for business registration can be paid directly at the Business Registration Office or transferred to the Business Registration Office’s account or using electronic payment services. A variety of fee payment methods make the application process convenient and easy. In 2021, how are the fees and charges for granting types of fees for company registration fees in Vietnam, Law VN would like to update as follows:
Mục lục
- 1 Company registration fees in Vietnam to be paid at the Department of Planning and Investment
- 2 Fee for publishing business registration contents
- 3 Cost of engraving business seal
- 4 Fee to buy digital signature (Token)
- 5 Open a bank account and file a bank account notice
- 6 License fee
- 7 Issuance of electronic invoices – Value Added Invoices
- 8 Some other notes about company registration fees in Vietnam
- 9 Subjects are free, business registration fee
- 10 Business registration fee refund
- 11 How to pay the business registration fee
- 12 What are other costs after incorporation?
- 13 Disadvantages of company registration fees in Vietnam?
- 14 Some frequently asked questions about company registration fees in Vietnam
- 14.1 How much does it cost to set up a business?
- 14.2 How much does it cost to set up a business when hiring services?
- 14.3 Is there a difference between the registration fee of a limited company and a joint stock company?
- 14.4 How much is the state fee to set up a business?
- 14.5 What taxes do I need to pay when setting up a company?
- 14.6 Should you hire a service when opening a company?
Company registration fees in Vietnam to be paid at the Department of Planning and Investment
Article 32 of Decree 01/2021/ND-CP stipulates that enterprise founders or enterprises must pay business registration fees and charges at the time of submitting the application for company establishment. The fee for registration of business establishment according to Circular 47/2019/TT-BTC is 200,000 VND..
However, according to Circular 47/2019/TT-BTC replacing Circular 215/2016/TT-BTC, the business establishment registration fee is reduced to 100,000 VND/time. Enterprise founders can pay the fee directly or transfer it to the business registration office’s account or use an electronic payment service.
In addition, enterprises that register their businesses online are exempt from business registration fees. A note is that in case the enterprise is not granted a business registration certificate, the fee payment amount will not be refunded to the enterprise.
Fee for publishing business registration contents
According to the provisions of the Enterprise Law 2020, within 30 days, enterprises must publish business registration contents on the National Enterprise Portal. The fee for publishing business registration contents according to Circular 47/2019/TT-BTC is VND 100,000.
Cost of engraving business seal
Currently, there are many prices on the market for engraving corporate seals. The cost depends on the seal engraving service provider, the type of seal required by the business. The price for corporate seals ranges from 250,000 VND to 350,000 VND. Seal the title of the Director, the President… from 70,000 VND to 150,000 VND.
Notes on seal engraving and use of seals:
- Enterprises providing seal engraving services must be enterprises licensed to operate.
- Before using the seal, the Company must carry out procedures to publish the seal sample on the national enterprise portal. This procedure does not have to pay state fees.
- In Hanoi city, newly established enterprises are supported by the City People’s Committee with stamp engraving costs. Businesses can take advantage of this offer to reduce costs.
Fee to buy digital signature (Token)
According to Decree 130/2018/ND-CP, “Digital signature” is a form of electronic signature created by transforming a data message using an asymmetric cryptographic system. To put it more simply, a digital signature is an encrypted USB form that can be used instead of the signature and seal of the legal representative to sign the declaration or other online operations to identify all operations as belonging to the business.
Enterprises contact digital signature providers such as Viettel, New-CA, FPT, BKav…. to purchase a Digital Signature (Also known as Token) device. The cost depends on the provider and the number of years of service. Digital signatures for 3 years of use range from VND 2,000,000 to VND 3,000,000. Law VN is a level 1 agent of network providers providing digital signatures, we provide cheap digital signatures, please contact us for a free consultation.
Open a bank account and file a bank account notice
Enterprises must open a bank account for transactions and to pay taxes according to current mandatory regulations.
Basic bank account opening documents include
- An application form for opening an account according to the form of the Bank. The legal representative of the company must sign and stamp this declaration.
- Copy of ID card of the representative;
- A copy of the business registration certificate;
- Decision on appointment of person in charge of accounting, chief accountant.
Account opening fees are usually not collected by banks. However, businesses need to pay a fee to maintain the account. The average is about 1,000,000 VND.
Notice of bank account information
After opening an account, within 10 days, the enterprise must notify the account information. This notification procedure is currently carried out at the Business Registration Office as a procedure for changing business registration contents.
Businesses do not charge fees when doing it themselves. But businesses have to pay service fees if they hire service providers to do it. Service fee according to market price 500,000 VND – 1,000,000 VND.
>>>> See more: Things to know about procedures for foreign investment in Viet Nam >>>>
License fee
Decree No. 139/2016/ND-CP stipulating license fees, effective from January 1, 2017. Accordingly, the “license tax” will now be replaced by “license fee”.
Depending on the registered
Charter capital when establishing the company, the business license fee must be paid at the following rates:
| Authorized capital | License fee to be paid annually |
| Over 10 billion VND | 3,000,000 VND |
| From 10 billion VND or less | 2,000,000 VND |
Note about license fees from February 25, 2020
- Pursuant to Decree 22/2020/ND-CP amending Decree 139/2016/ND-CP, License fee declaration is only made once when a business is newly established.
- New company; Small and medium-sized enterprises that move from household businesses shall declare license fees and submit the declarations to the tax authorities directly managing them before January 30 of the year following the new year when they start production or business operations or are newly established. .
- Exemption of license fees in the first year of establishment for newly established enterprises.
- During the license fee exemption period, newly established branches, representative offices and business locations are also exempted from license fees.
- A small and medium-sized enterprise that moves from a household business is exempt from license fees for a period of 03 years from the date of being granted the first business registration certificate.
Issuance of electronic invoices – Value Added Invoices
Invoice is an accounting document made by an organization or individual that sells goods or provides services, and records information on goods sale or service provision in accordance with the accounting law.
According to Decree 119/2018/ND-CP, from November 1, 2018, newly established businesses must use electronic invoices. E-invoice is an invoice presented in the form of electronic data made by an organization or individual selling goods or providing services, recording information on selling goods or providing services, digitally signing, or electronically signing. regulations by electronic means, including where invoices are generated from cash registers with an electronic data transfer connection with tax authorities.
The cost the business has to pay depends on the choice of the business: the business invests in the infrastructure for this job or uses the service of providing electronic invoices from outside. The cost for 500 e-invoice numbers that Law VN partners are providing is VND 1,000,000.
Some other notes about company registration fees in Vietnam
The above company establishment costs are normal expenses and according to state regulations. In addition to these costs, when using the service of establishing a company – an enterprise, the founder must also pay costs for service providers;
- Cost of designing and printing company signs.
- The cost of tax declaration and registration services for the first time, the service fee that Law VN is implementing is: 1,600,000 VND.
- Expenses for welcoming the tax agency’s inspection team;
- The cost of equipping the company’s facilities; the cost of renting business premises – head office.
Subjects are free, business registration fee
The following entities are entitled to free enterprise information provision and business registration fee exemption:
- Enterprises that supplement or change information due to changes in administrative boundaries are exempted from the business registration fee and the fee for publishing business registration contents.
- Register for business dissolution, business suspension; Termination of operation of branches, representative offices, business locations shall be exempted from enterprise registration fees.
- Enterprises that conduct business registration online are exempt from business registration fees.
- State agencies requesting the provision of information in service of state management are entitled to free provision of enterprise information.
- Small and medium enterprises converted from business households are exempt from business registration fees and the fee for providing business information for the first time.
Business registration fee refund
In case an enterprise has paid the fee for announcing business registration contents at the same time as submitting the enterprise registration dossier but is not eligible to be granted an enterprise registration certificate, the enterprise shall be refunded the publication fee. business registration content. Enterprises shall return the issued receipts to the Department of Planning and Investment for fee refund in accordance with regulations on financial management.
How to pay the business registration fee
- Apply directly at the Business Registration Office
- Transfer to the account of the Business Registration Office
- Using electronic payment services: Individuals/organizations making electronic payments must pay a service usage fee at the rate specified by the electronic payment service provider. Fees for using electronic payment services are different for different providers.
What are other costs after incorporation?
Other costs after the establishment of the Company is the cost for the company to be able to conduct operations, the enterprise will need to purchase digital signatures, electronic invoices, place company signs, etc. Additional costs incurred after establishment. As follows:
- Cost for placing company signs (sticky or hanging): 150,000 VND – 500,000 VND (depending on requirements and size)
- Expenses for opening a company bank account: Deposit 1,000,000 VND to maintain the account;
- Cost for using company digital signature: 1,500,000 VND – 2,500,000 VND (depending on 1 year, 2 year or 3 year package)
- Cost for using e-invoice software: 1,000,000 VND – 3,000,000 VND (depending on the number of invoices you want to buy)
- Expenses for paying corporate license tax: 2,000,000 – 3,000,000 VND (depending on charter capital)
Disadvantages of company registration fees in Vietnam?
There are quite a few reasons why people prefer low-cost company formation services. Among them, the main reason is cost savings. This is not to blame because even when we buy a product or service, we hope to find the cheapest package. However, if that cheap product or service is of poor quality, you or we will both feel dissatisfied. After all, the value of buying a product or service that everyone is aiming for will still be quality. Therefore, do not let the immediate benefits make people blindly run after cheap service packages and products. Hoang Phi Law will briefly analyze some disadvantages of using cheap company establishment services for your reference:
- Using a cheap service means that you have to bet with yourself on the quality of the service provided;
- Using a cheap service can affect the time to do the work and may make your opportunity to sign a contract with your partner passed (due to not receiving the business registration, company structure) ;
- Using the cheap service, you will always have to go directly to the consulting company for advice, sign the documents, deliver the documents and go to the registry office;
- A company that provides low-cost company establishment costs will certainly be a time-based company and the ability to support post-establishment services is a question mark;
- Finally, don’t choose a cheap service to affect your start-up process.
Some frequently asked questions about company registration fees in Vietnam
How much does it cost to set up a business?
As mentioned in part 1, the total cost of setting up a company will fluctuate in the range of 10 million or less. This cost does not include facilities costs.
How much does it cost to set up a business when hiring services?
To save the most on business establishment costs, some companies choose to outsource business establishment services. When outsourcing services, units will often provide consulting packages and company establishment services at the most optimal price.
For example, at Law VN, the costs of consulting business establishment are listed and transparent. Service packages for setting up a company are diverse with prices ranging from 1.6 to 5 million VND.
Is there a difference between the registration fee of a limited company and a joint stock company?
There is no difference in the fee for establishing a Limited Company and a Joint Stock Company because they are the same type of business, so the process and registration fee are the same.
How much is the state fee to set up a business?
The state fee for establishing a business is currently 700,000 VND (including business license, publication and seal fees). This fee is the same for different types of business registration.
What taxes do I need to pay when setting up a company?
With any type of business, it is inevitable to have to pay taxes to the state. Typical taxes such as: license tax, VAT, CIT, PIT and some other specific taxes. In particular, license tax is a tax that businesses are required to pay annually and pay right from the month of establishment even if the business has not yet come into operation. License fees based on charter capital are divided into 2 groups: over 10 billion VND (3,000,000 VND/year) and 10 billion VND or less (2,000,000 VND/year).
When registering an enterprise, it is necessary to consider choosing an appropriate level of charter capital because in addition to determining the license fee level, charter capital also affects a number of accounting operations when the business comes into operation.
Should you hire a service when opening a company?
It depends on your operating ability, understanding of processes, procedures, registration documents and the level of finance you have available. Basically, outsourcing company formation services will save a lot of costs and time as well as limit the risk of errors or delays in administrative procedures.
>>>> See more: Foreign investment procedures in Vietnam >>>>
If you have any questions please contact us for a free consultation, we always bring you the best service, with a team of experienced lawyers, you completely trust luatvn hotline. / zalo: 0763387788.
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