(Leider steht keine deutsche Übersetzung für diesen Artikel zur Verfügung.)

On June 23, 2009, the People ‘s Committee of Ho Chi Minh City issued Decision No.43/2009/QD-UBND providing the Regulation between inter-departments in Ho Chi Minh City. In respect of Ho Chi Minh City, this Regulation took effect from July 2009 and is implemented throughout the city.

After Ho Chi Minh City has issued and applied this Regulation for 03 months, on October 20, 2009, the People‘s Committee of Hanoi City issued Decision No. 112/2009/QĐ-UBND providing Regulation on coordination regime between competent authorities in settlement of business registration, tax registration and corporate seal registration applicable to all enterprises established and operated under the Law on Enterprises in Hanoi City (the “Regulation”). The Regulation sets out the application dossier, the procedure, cooperation method and responsibilities of related departments in Hanoi in settlement of administrative procedures.

Pursuant to this Regulation, each enterprise will have a unique company code. A company code shall be stated in both a Business Registration Certificate (the “BRC”) and a Tax Registration Certificate of an enterprise. A company code will exist for the whole life of an enterprise. Particularly, in case of conversion of a private enterprise; division, separation, merger and acquisition, sale of an enterprise; conversion of a depend enterprise into an independent one, and vice versa, the change of the business registration and the tax registration content will lead to change of a company code.

The term for settlement of business registration and tax registration is 05 working days, from the date of receiving a complete and valid application dossier. The Department of Planning and Investment (the “DPI”) will return the result to the enterprise via its one stop service. The term for each corporate seal registration is 04 working days, from the date the request by an enterprise is addressed to a corporate seal maker. The corporate seal maker must complete the making of the corporate seal, whereas the public security must check the seal and register for the seal in order to return the seal and the seal model certificate to the enterprise.

In addition, the Regulations also provide regulations for coordination between the DPI, the Department of Tax on issuance of the BRC and the Tax Registration Certificate; the coordination between the DPI and the Public Security to issue the corporate seal to enterprises.

After a long-awaited period, the two separate Regulations in Hanoi City and Ho Chi Minh City already create favorable conditions for investors when they decide to establish their enterprises. Both Regulations provide the scope of subjects being enterprises established and operates under the Law on Enterprises. However, upon our unofficial discussion with the DPI in Ho Chi Minh City and Hanoi, the Regulations just apply to enterprises that conduct their business registration at Business Registration Divisions only (Enterprise without foreign invested capital). In respect of enterprises with foreign invested capital, currently, separate procedures for issuance of an Investment Certificate, a Tax Registration Certificate and a Corporate Seal are still in existence. It is unclear whether enterprises with foreign invested capital can be followed these Regulations.

In Hanoi City, this Regulation takes effect after 10 days from the date of signing. Decision 112/2009/QĐ-UBND replaced Decision No. 350/QĐ-KH&ĐT-CA-CT dated December 18, 2006. Before the Regulation is applied in the Hanoi City as a whole, competent authorities are responsible for applying this Regulation on a pilot basis for 03 month period at Business Registration Division No. 03 located at No. 1, Quang Trung Street, Ha Dong District, Hanoi City right after this Decision is issued.

By courtesy of ©LuatViet - Advocates & Solicitors 2009