POST-INCORPORATION BUSINESS REGISTRATION REQUIREMENTS IN VIETNAM

When a company receives its certificate of business registration Vietnam, it is officially recognized as operational on the National Business Registration Portal, which makes this information accessible to tax authorities and related organizations. With this status, newly established businesses must complete several key post-registration requirements to ensure full compliance with Vietnamese regulations. Below is a guide to these mandatory steps.

Publishing business registration Vietnam information

Under the Enterprise Law 2020, companies must publish their business registration details on the National Business Registration Portal within 30 days of receiving the Certificate of Business Registration. This step provides transparency to stakeholders and establishes the business in the public record.

Methods for publishing information

Businesses are advised to keep the payment receipt for future reference. The current fee is 300,000 VND per notice as stipulated by the Ministry of Finance. There are two ways to publish a business registration notice:

  • In-person submission: Submit the necessary documents and fees directly to the Department of Planning and Investment (DPI) in the city or province of operation. You’ll receive a receipt, which serves as proof of submission.

  • Online submission: Access the National Business Registration Portal, select “Public Disclosure Services,” and complete the steps under “Electronic Disclosure.” This includes selecting the business entity, confirming details, and paying the required publication fee.

Company seal creation

Following the registration, businesses must create a company seal. Unlike previous regulations, businesses no longer need to register the seal design with government agencies. Companies now have the autonomy to choose the type and number of seals needed for operations. Each company is responsible for ensuring that its seal design complies with Vietnamese law. The seal must display the company’s name and tax identification number and may be circular, polygonal, or another shape. However, it must not include the following prohibited elements:

  • National symbols such as the national flag or emblem.

  • Names, symbols, or images of governmental or political institutions.

  • Any content that contradicts Vietnamese traditions or cultural values.

With G2B, you can streamline your setup process and focus on your core business activities. Our dedicated team is here to help you with all your needs. G2B services provide assistance in setting up a business in Vietnam, offering professional and reliable support, guiding businesses through proper company establishment and annual compliance, opening local/digital bank accounts, ensuring smooth operations, and minimizing legal risks from the outset.

New companies must complete mandatory steps after registration

Opening a business bank account

After Vietnam business registration procedures, the company’s legal representative must open a business bank account at a local or foreign bank branch in Vietnam. Tax payments and transactions over a certain amount must be made through a business bank account.

A dedicated business account allows companies to manage funds efficiently, make tax payments, and handle invoices. This account also meets compliance requirements, as transactions over 20 million VND must be conducted through a bank to qualify for tax deductions. While a business may hold multiple accounts, each account must be registered to one entity.

Note: Since May 1, 2021, businesses are no longer required to register bank account details with the Department of Planning and Investment (DPI), nor are they required to notify the Business Registration Office about changes to bank account information.

Acquiring a digital signature and initial tax registration

A digital signature is essential for conducting tax and other government-related filings online, helping businesses reduce paperwork and streamline operations.

Digital signature registration

A digital signature, often in the form of a USB token, allows businesses to sign tax documents electronically. Companies can purchase these from authorized providers such as Viettel, FPT, or BKAV, among others. Once acquired, the business must register the digital signature with the tax authority for use in online tax filings, e-customs, social insurance, and other official transactions.

Appointing an accountant or chief accountant

Vietnamese law requires businesses, except for micro-enterprises, to have a dedicated accounting team or outsourced accounting service. Appointing a Chief Accountant is mandatory for most businesses, who will handle key financial tasks and ensure compliance with Vietnamese accounting standards.

Three accounting systems are available depending on the business size:

  • Circular 200/2014/TT-BTC for larger companies.

  • Circular 133/2016/TT-BTC for small- to medium-sized enterprises.

  • Circular 132/2018/TT-BTC for micro-enterprises.

Each business must follow the relevant system consistently throughout the fiscal year. If a business wishes to switch systems, such as from Circular 133 to Circular 200, it must notify tax authorities and adhere to the change for the entire year.

Registered businesses are listed on the National Business Registration Portal

Initial tax declaration documentation

Newly established businesses must complete their initial tax declaration within 10 business days of receiving the business registration certificate. Required documents include:

  • Appointment decision for the Director and chief accountant.

  • Registration of electronic tax filing and electronic tax payment methods.

  • Declaration of fixed asset depreciation methods.

  • Selection of an accounting system and invoice usage plan.

Businesses can submit these documents directly to the tax office or upload them on the tax department’s online portal. Failure to submit initial tax declarations on time may result in fines ranging from 2 million to 25 million VND, depending on the severity of the delay.

Paying the business license tax declaration

Once the business has a bank account and digital signature, it must file a license tax declaration and pay the annual business license tax to the tax department.

Filing and payment deadlines

The business must file its business license tax declaration and pay the tax before January 30 of the year following its establishment. If a business has branches or representative offices in the same province, it can declare and pay the tax on their behalf; however, if these units operate in other provinces, they must handle their tax declarations independently.

License tax rates

Vietnam offers a one-year business license tax exemption for new companies. After the initial exemption period, annual rates are as follows:

  • Companies with registered capital over 10 billion VND: 3 million VND per year.

  • Companies with registered capital under 10 billion VND: 2 million VND per year.

Compliance with Vietnamese regulations is essential for all companies

This guide provides an overview of the main compliance tasks new businesses in Vietnam must complete post-registration. Timely completion of these requirements ensures a smooth transition into operations and minimizes potential legal complications. For those considering business registration Vietnam, understanding both the establishment and dissolution processes is essential for a comprehensive business plan.

With G2B, you're not just choosing a consultancy to help setting up a business in Vietnam, you're choosing a partner who will stand by your side throughout your entrepreneurial journey. Contact G2B today to learn more about how we can help you with your business goal in Vietnam.

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