Procedures After Receiving Business License and Seal
Procedures After Establishing a Company
What is the process for a company to start operating after receiving its Business License and seal?
What should the CEO do when starting a business? Many CEOs may still be confused or unsure of the next steps after receiving the business registration license and seal, and they want to ensure they comply with the regulations of the Business Law and tax authorities.
1/ SIGNBOARD
The business must make a signboard at the registered head office address. The size of the signboard is not specified, but it must include the following information: Company Name, Address, and Business Registration Code.
2/ OPEN A BANK ACCOUNT FOR THE BUSINESS
Documents required when opening a bank account:
• One notarized copy of the Business License;
• One notarized copy of the Legal Representative's Citizen ID card;
• Bring the company seal to the bank during the procedure and deposit at least 3,100,000 VND into the account (to ensure that after paying the license tax, the balance remains at least 1,000,000 VND. Companies established in 2024 are exempt from license tax).
We have a network of partner commercial banks and are happy to assist clients with any support needed through TGS VietNam.
3/ PURCHASE A DIGITAL SIGNATURE AND ELECTRONIC INVOICE
To register for electronic tax filing and report taxes online, we recommend the Misa digital signature package for its reasonable price and quality. Additionally, if your company needs to issue electronic invoices for customers, it is advisable to purchase a combined digital signature and electronic invoice package at this stage to enjoy discounts. Please contact TGS VietNam for support if needed.
4/ REGISTER FOR ELECTRONIC TAX FILING
This is the process of paying taxes online through the Tax Authority's electronic portal, following current regulations. It includes two steps:
• After obtaining the business's bank account details, bank name, email, and phone number, the accountant will use the digital signature device to activate the digital signature through the bank's system;
• Request the bank to sign and stamp to confirm that the business has registered for electronic tax filing.
The electronic tax filing registration must be done at one of the banks where the company has opened an account (the company must have a digital signature device to register for electronic tax filing).
5/ REGISTER INITIAL TAX FILE
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Pay the License Tax and set up the electronic tax system: A newly established business must file the license tax declaration within 30 days from the issuance of the business registration certificate and deposit the license tax into the state budget via electronic tax payment;
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In addition, the business needs to submit initial tax documents to the tax office managing the company, such as: Registering for depreciation, selecting the VAT declaration method, and registering to choose the invoicing method.
📢 TGS Vietnam is ready to assist you with business registration at no cost, helping you confidently take steps on your entrepreneurial journey! 🚀
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