Professional and quick service in establishing a limited liability company

In addition to the joint stock company model, which is very popular in the Vietnamese market, there are now many individuals and organizations that choose to establish businesses under the model of limited liability companies. This model is very suitable for the dynamic environment of businesses in Vietnam. This shows that the business environment in Vietnam is a fertile land with many resources for businesses to develop. However, the establishment of a limited liability company is not clear to everyone. Therefore, we would like to introduce to you the fast and professional service of establishing a limited liability company at YNN.

1. What is limited company?

According to the provisions of current Vietnamese law, a limited liability company (LLC) is a type of enterprise with a legal status recognized by law. In which the owner and the company are 2 separate legal entities, in which the company is a legal person and the owner is a natural person, According to Clause 7, Article 4 of the Enterprise Law 2020, limited liability companies include two types: one-member limited liability companies and two-member limited liability companies.

The highlight of this type of business is that the members are only responsible for their contributions (limited liability).

2. The benefits of setting up a limited liability company

• When establishing a limited liability company, the tax rate must be lower than that of other models. Due to its small size, the limited company has the lowest income tax rate of any company formation/business establishment at present, only 20%.

• The cost of setting up and doing business does not need to be too much. The cost of establishing a limited company is always guaranteed to be at a minimum.

• When compared to other business models, there is a significant reduction in process and operational paperwork.

• A limited company can continue to exist even in the event of a shareholder's death.

• helps protect members against lawsuits involving their financial or personal property issues.

• Increased credibility for businesses due to high transparency

• is easy to raise capital for due to the opportunity and high expansion potential. It can change the type of business if desired.

3. Documents to prepare when setting up a limited company

To set up a limited company, you need to prepare some basic documents as follows:

• Business registration application form
• Draft of the company's charter
• List of members, personal papers

• Certificate of capital contribution (for 2-member limited liability companies)
• Practicing certificate of the Director, General Director or representative of the company.
• Documents of individuals.

4. YNN—provides quick and efficient company formation services.

 Registration of the establishment of a limited company at YNN:

• Contact YNN to schedule an appointment at the Department of Planning and Investment.
• Clients receive certified foreign legal documents
• Translate required documents into Vietnamese
• Proceed to receive a CCCD certified copy or passport.
• Get IRC and ERC at YNN.
• Make an appointment to receive your tax registration certificate.
• Proceed to open a business bank account.
• Finally, publish your business at the National Business Registration Portal.

Related: Notes on setting up a joint stock company

If you are trying to establish a limited company in Vietnam but don't know where to start, come to YNN. We are proud to be the leading company providing quick and efficient company formation services. With a team of experienced advisors, enthusiastic staff will support you throughout the process of setting up a limited company in Vietnam. At YNNGLOBAL, we will offer the best solution to help you optimize costs and solve problems related to legal papers quickly and without wasting time. Come to https://ynnglobal.com.vn/ and experience it now!

YNN GLOBAL - Consulting services

Hotline:  +84 909 594 196

Website:  ynnglobal.com.vn

Email:  info@ynnglobal.com.vn

Address: Winhome Building, 150 đường Trần Não, thành phố Thủ Đức, thành phố Hồ Chí Minh, Việt Nam.

Fanpage: YNN Global - Business Consulting in Vietnam