The Company Law of Vietnam provides for several changes and amendments which can be brought to a company. The same law covers the documents which need to be provided to the authorities and other interested parties when making changes in a Vietnamese company.
Among the most common changes which can be made in a company in Vietnam is the alterationof its registered address. This can occur in various situations and our company formation specialists in Vietnam can help you change the registered office of your company in accordance with the law.
Registered address requirements for Vietnamese companies
The incorporation of a company in Vietnam implies respecting a few requirements, among which having a legal address in Vietnam is essential. The registered address is the most important proof that the company is incorporated in Vietnam.
For those who cannot find a suitable address in a specific period of time or those who are in a hurry to set up a company in Vietnam, the virtual office is a proper solution to use as a legal address.
Once the company is registered, the owners can change the legal address of the Vietnamese company in accordance with their needs.
Our Vietnam company formation agents can help you select a business address for your company.
When is the change in the legal address of a Vietnam company required?
There are several situations in which a change in the registered address of a Vietnam company can be required. Some of them are mandatory, while others are optional. Below, are the cases in which the shareholders can change the registered address of their companies in Vietnam:
- when the office space has been contracted through a lease or rental agreement which has come to an end and the company needs a new address;
- when the company moves its head office from one Vietnamese city to another, the registered address will also need to change;
- when the first address was registered at a virtual office address (as we mentioned above);
- when the company owners are expanding their business operations and need to change the registered seat of the company;
- in the case of Vietnamese branches, when the foreign company decides to move the branch office’s head office from one region to another.
No matter the reason a change in the legal address a Vietnamese company is required, our company registration advisors can guide you through the procedure.
Steps in changing the registered address of a Vietnam company
No matter the change a Vietnamese company is going through, the decision must be made at ownership or management level and must be recorded during a special or general meeting. Then, the company’s Articles of Association must be altered in the case of a locally owned company. In the case of foreign-owned companies, the investment certificate must be amended with the new address.
The Companies Register must also be informed about the change in the company’s legal address and a request must be filed in this sense.
Once the change in the registered address of the company is approved, a new certificate of investment will be issued for foreign-owned companies.
Our company registration agents in Vietnam can offer more information on the requirements related to changing the registered seat of a business.
Documents required when changing the legal address of a company
The documents which need to be presented with the Trade Register when changing the registered address of a company in Vietnam will depend on whether the business has a Vietnam national as a shareholder or a foreign shareholder.
If in the case of a local shareholder the procedure is straightforward, in the case of a foreign shareholder, the documents to be filed may include information about the share capital invested by the overseas investor, an audited financial statement for the last activity of the company and the residence permit of the legal representative of the company.
Our local consultants can help you prepare the documents needed when changing the legal address of your company in Vietnam.
We can also advise if you want to open a company in Vietnam under the form of an LLC or in case you want to open a representative office in Vietnam first in order to analyse the market.
Investments in Vietnam
Vietnam is the 3rd largest market in Southeast Asia, considering that:
- the first quarter of 2019 has already brought a 6.8% increase for the Vietnamese economy;
- in the first 2 months of 2019, foreign investments in Vietnam increased by 9.8%, on a yearly basis;
- the amount of money invested by foreign investors in these 2 months rose to 2.6 billion USD;
- the country is expected to register a 6.7% economic growth in 2019 (which is expected to be the fastest-growing rate in the region).
For assistance in making changes in your local company, please contact our company formation advisors in Vietnam. Furthermore, if you are also seeking the services of an accounting firm in Vietnam, the services of our lawyers are at your disposal. On one hand building and sustaining an accounting team is undoubtedly more costly if the company is still on a tight budget. But on the other hand, the business cannot ensure that the employees’ quality of labor matches their wage costs. Nevertheless, based on the service bundles registered by firms, the price of employing accounting services in Vietnam is cheaper. If you are interested in learning the benefits of an accountant in your firm, get in touch with our lawyers.