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Legal provisions on the right to establish and the obligation to register a business

23/06/2023 - 124

Thblaw.com.vn

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      Pursuant to Article 5 of Decree 01/2021 ND-CP rights to establish enterprises and obligations to apply for enterprise registration are prescribed as follows: Person who has the right to establish a business Pursuant to Article 05 of Decree 01/2021 ND-CP: “Establishing enterprises is the right of every entity. This right is protected by […]

 

   

Pursuant to Article 5 of Decree 01/2021 ND-CP rights to establish enterprises and obligations to apply for enterprise registration are prescribed as follows:

  • Person who has the right to establish a business

Pursuant to Article 05 of Decree 01/2021 ND-CP: “Establishing enterprises is the right of every entity. This right is protected by the State”. Thus, individuals and organizations have the right to establish an enterprise, and the right to establish an enterprise of an individual or organization will be protected by the State.

  • Obligations for enterprise registration of individuals and organizations establishing enterprises

The enterprise’s founder or the enterprise has to fully and promptly fulfill the obligation to apply for enterprise registration and disclose information about the establishment and operation of the enterprise in accordance with regulations herein and relevant legislative documents.

Note: To Clause 3 and Clause 4 in Article 5 of the Decree 01/2021 ND-CP: Business registration authorities and other agencies are prohibited to harass applicants while receiving and processing applications for enterprise registration. Ministries, ministerial agencies, People’s Councils, and People’s Committees at all levels are not permitted to promulgate their own regulations on enterprise registration. Regulations on enterprise registration promulgated by Ministries, ministerial agencies, People’s Councils, and People’s Committees at all levels that are contrary to regulations herein shall be no longer valid.

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