• VN
  • Eng
ENTERPRISES
  • CONVERTING PRIVATE ENTERPRISE TO THE LIMITED COMPANY

    Date: 27-03-2020

    CONVERTING PRIVATE ENTERPRISE TO THE LIMITED COMPANY

    The basic difference between a limited liability company and a private enterprise is its legal status and the regime of responsibility before financial obligations.

     

    A private enterprise has no legal status, in addition to the registered investment capital, the owner must be responsible with all of his / her assets for all activities of the enterprise. A limited liability company has a legal status and the owner of the company is limited before the financial obligations.

     

    In fact, many DNTT want to develop more, expand business and have transformed into a limited liability company by the legal advantages as well as subjective reasons of the business.

     

    1. A transformation registration dossier comprises:

    - Application form for enterprise registration;

    - Charter of the converted company;

    - Owner's decision on conversion;

    - List of creditors and unpaid debts, including tax debts, payment deadlines; list of existing employees; list of un liquidated contracts;

    - List of members in case of conversion into a limited liability company with two or more members;

    - Valid copies of personal identification papers of the company's members, for individual members (ID card or valid passport); A valid copy of the enterprise registration certificate or other equivalent document, for a company member being an organization;

    - A commitment of the owner of the private enterprise to take personal responsibility with all of his assets for all outstanding debts of the private enterprise and a commitment to pay all debts upon arrival term;

     

    - The agreement with the parties of the liquidated contract on the conversion of the limited liability company into the reception and implementation of such contracts;

    - Written commitment of the owner of the private enterprise or agreement between the owner of the private enterprise and other capital contributing members on the admission and employment of the existing enterprise of the private enterprise.

     

    2. Order of implementation:

    - Within 5 working days after receiving a dossier, the business registration agency shall consider and grant an enterprise registration certificate if all conditions are met. If the application is invalid, the business registration authority will issue a notice of modification.

     

    - Within 07 working days from the date of issuance of the Business Registration Certificate, the business registration authority shall update the legal status of the enterprise on the National Enterprise Registration Database.

     

    3. Note after changing type of business:

    - Within 30 days from the date of being granted a new enterprise registration certificate, the enterprise must publish the enterprise registration content on the National Business Registration Portal.

    - Carve the seal and before using the new seal, the company must notify the Business Registration Office of the seal sample, number of seals.

    - Notice of conversion to customers, suppliers, banks.

    Hỏi đáp