New establishment of a divided company as limited liability company with more than two member

a) Implementation order:

·      The Board of Members of the dividing company approves the resolution on division of the company under the provisions of the Enterprise Law and charter of the company.

·      The resolution on division of the company must be sent to all creditors and notified to employees within 15 days from the date of approval of resolution.

·      Members of the newly established company approve the Charter, elect or appoint Chairman of the Board of Members, Director or General Director and carry out enterprise registration under regulations of the Enterprise Law. In this case, enterprise registration documents for new company must be enclosed with the resolution on division of company specified in point a of this clause.

·      The dividing company ceases the existance after the new companies are issued the Enterprise registration certificate. The new companies jointly take responsibility for unpaid debts, labor contracts and other property obligations of the dividing company or arrangement with creditors, customers and employees in order one of those companies implements these obligations.

b) Implementation method: The company or authorized representative directly submits documents to the Business registration office where the company registered its head office or submits enterprise registration documents via electronic network.

c) Documents, including:                                                                                                         

·      Resolution on division of the company;

·      A valid copy of meeting record of the Board of Members;

·      A valid copy of enterprise registration certificate or other equivalent documents of the divided company;

·      Enterprise registration documents for limited liability company with more than two members for new company.

d) Number of documents: 01 (set).

đ) Time limit for settlement: Within 03 (three) working days, after receipt of full valid documents.

e) Implementing agency: Business registration office - Department of Planning and Investment.

g) Subjects of administrative procedures: Individuals, organizations.

h) Results of administrative procedures: The enterprise registration certificate/ Notice on amending and supplementing enterprise registration documents.

i) Fees: VND 200,000/time (Circular No. 176/2012/TT-BTC) (Payment at time of filing).

k) Name of form, declaration:

·      Request for registration of limited liability company with more than two members (Annex I-3, Circular No. 20/2015/TT-BKHDT);

·      List of members of ited liability company with more than two members (Annex I-6, Circular No. 20/2015/TT-BKHDT)

l) Requirements and conditions for procedure implementation: Defined in Article 28, 192 of the Enterprise Law and Article 24 of Decree No. 78/2015/ND-CP.

m) Legal basis of administrative procedures:

·      The Enterprise Law of the Assembly of the Socialist Republic of Vietnam No. 68/2014/QH13 dated 26/11/2014 (The Enterprise Law);

·      Decree No. 78/2015/ND-CP dated 14/9/2015 of the Government on enterprise registration (Decree No. 78/2015/ND-CP);

·      Circular No. 20/2015/TT-BKHDT dated 01/12/2015 of the Ministry of Planning and Investment guiding the enterprise registration (Circular No. 20/2015/TT-BKHDT);

·      Circular No. 176/2012/TT-BTC dated 23/10/2012 of the Ministry of Finance providing for the collection level, collection regime, payment, management and use of fees of enterprise registration, business household registration and enterprise information supply fee  (Circular No. 176/2012/TT-BTC).