What should I do? Questions about procedures for changing a business name? What are the documents and costs for changing the company name?

What is the business name?

The business name is an important content on the company’s business registration certificate. From the business name, people can know the proper name and type of business the company is operating in. The business name must comply with the provisions of Article 37 of the Law on Enterprises 2020 as follows:

“Article 37. Enterprise name

1. The Vietnamese name of the enterprise includes two elements in the following order:

a) Type of enterprise;

b) Personal name.

2. Type of enterprise is written as “limited liability company” or “limited company” for a limited liability company; written as “joint stock company” or “joint stock company” for a joint stock company; written as “private enterprise” or “private enterprise” for a private enterprise.

3 F, J, Z, W, numbers and symbols.

4. The business name must be attached to the head office, branch, representative office, business location of the business. The business name must be printed or written on transaction papers, documents and publications issued by the business.

5. Pursuant to the provisions of this Article and Articles 38, 39 and 41 of this Law, the Business Registration Authority has the right to refuse to approve the proposed registration name of the enterprise.”

Thus, in order for business establishment registration to take place quickly and smoothly, businesses need to pay attention to naming the business in accordance with the above regulations.

Procedures for changing the name of a business?

Pursuant to Article 48 of Decree 01/2021/ND-CP stipulating the registration of changing a company’s name as follows:

“Article 48. Registering a change of business name

1. In case of changing the business name, the business sends documents Registration dossier to change the business registration content to the Business Registration Office where the enterprise’s head office is located. The dossier includes the following documents:

a) Notice of change in business registration content signed by the legal representative of the enterprise;

b) Resolutions, decisions and copies of meeting minutes of the Board of Members for limited liability companies with two or more members, partnerships, and of the General Meeting of Shareholders for joint stock companies; Resolution and decision of the company owner for a one-member limited liability company on changing the business name.

2. After receiving the business registration dossier, the Business Registration Office issues a Receipt, checks the validity of the dossier and issues a Business Registration Certificate to the business if the change in the registered business name does not violate the regulations on business naming.

3. Changing the business name does not change the rights and obligations of the business.”

Thus, it is necessary to prepare documents including:

– Notice of change in business registration content

– Resolution and decision of the company owner for a one-member limited liability company on changing the business name.

– Power of attorney for the person performing the procedure (if any).

– Submit your application to the Business Registration Office where your business is headquartered.

– Receive receipt and wait for settlement results.

Cost and time to process a request to change company name?

Based on the Fee Schedule, the business registration fee in Circular 47/2019/TT-BTC stipulates that the fee for changing the content of the Business Registration Certificate is 50,000 VND/time and the fee for announcing the business registration content is 100,000 VND/time.

Pursuant to Article 33 of Decree 01/2021/ND-CP stipulating the time limit for issuance of confirmation of change in business registration content as follows:

“Article 33. Time limit for issuance of Business Registration Certificate, Certificate of change in business registration content

1. The Business Registration Office issues the Business Registration Certificate, Confirmation of changes in business registration content, updates information on changes in business registration content in the National Business Registration Database within 03 working days from the date of receiving valid documents.

2. In case the dossier is not valid or the business name requested to be registered does not comply with regulations, the Business Registration Office must notify in writing the content that needs to be amended or supplemented to the business founder or enterprise within 03 working days from the date of receipt of the dossier. The Business Registration Office records all requests for amendments and supplements to business registration documents for each set of documents submitted by the enterprise in a Notice of request for amendments and supplements to business registration documents.

3. If past the above deadline, the Certificate of Business Registration, Certificate of Change in Business Registration Content is not issued, or the Business Registration Content is not changed in the National Business Registration Database, or a notice requesting amendments or supplements to the Business Registration Document is not received, the business founder or enterprise has the right to complain and denounce according to the provisions of law on complaints and denunciations.”

That is, within 03 working days from the date of receiving valid documents, the Business Registration Office will issue a Confirmation of changing your company name.