Electronic portal of Hung Yen Department of Planning and Investment

Sale of private company

a) Implementation order:

· The buyer of private company shall register change of the owner of private company as defined in Article 187 of the Enterprise Law. After selling company, the owner of the private company still be liable for the debts and other property obligations of the company arising before transfer of the company except where the buyer, seller and creditor of the company otherwise agreed.

· The buyer submits the Registration documents for change to the Business registration office where the company registered. Registration documents include:

a. Notice on change of private company owner with signature of the buyer and seller;

b. A valid copy of one of the personal identification papers defined in Article 10 of Decree No. 78/2015/ND-CP of the buyer;

c. Contract of company acquisition or documents evidencing the completion of the transfer.

b) Implementation method: The buyer of private company directly submits the Notice on change of private company owner to the Business registration office where the company registered its head office or via electronic network according to the procedures on the National Information Portal on enterprise registration.

c) Documents, including:

· Notice on change of private company owner (Annex II-3, Circular No. 20/2015/TT-BKHDT);

· A valid copy of one of the personal identification papers defined in Article 10 of Decree No. 78/2015/ND-CP of the buyer;

· Contract of company acquisition or documents evidencing the completion of the transfer.

d) Number of documents: 01 set.

đ) Time limit for settlement: Within 03 (three) working days, after receipt of full valid documents.

e) Implementing agency: Business registration office – Department of Planning and Investment.

g) Subjects of administrative procedures: Individuals, organizations.

h) Results of administrative procedures: Enterprise registration certificate/ Notice on change and supplement of enterprise registration documents.

i) Fees: VND 200,000/time (Circular No. 176/2012/TT-BTC) (Payment at time of filing).

k) Name of form, declaration:

· Notice on change of private company owner (Annex II-3, Circular No. 20/2015/TT-BKHDT);

l) Requirements and conditions for procedure implementation: Defined in Article 28, 29 of the Enterprise Law and Article 47 of Decree No. 78/2015/ND-CP.

m) Legal basis of administrative procedures:

· The Enterprise Law of the Assembly of the Socialist Republic of Vietnam No. 68/2014/QH13 dated 26/11/2014 (The Enterprise Law);

· Decree No. 78/2015/ND-CP dated 14/9/2015 of the Government on enterprise registration (Decree No. 78/2015/ND-CP);

· Circular No. 20/2015/TT-BKHDT dated 01/12/2015 of the Ministry of Planning and Investment guiding the enterprise registration (Circular No. 20/2015/TT-BKHDT);

· Circular No. 176/2012/TT-BTC dated 23/10/2012 of the Ministry of Finance providing for the collection level, collection regime, payment, management and use of fees of enterprise registration, business household registration and enterprise information supply fee (Circular No. 176/2012/TT-BTC).