The company engages in the production of fabric, and now the company wants to sell those fabric products in wholesale, would they need to supplement the wholesale sector?

For companies expanding their business operations, ensuring that their industry classification accurately represents their activities is crucial. In the case of a company involved in fabric production, considering whether to supplement the wholesale sector to sell fabric products raises important questions. In this discussion, we will explore whether the company needs to add the wholesale sector to its business classification. Understanding this requirement is essential for regulatory compliance and for ensuring that the company’s business activities are properly recognized.

Question:

My company has just been established and its business is fabric production. Does the company have permission to wholesale those fabric products or does it need to add a wholesale business field?

Answer:

– In the case of a business needing to register for fabric wholesale, the business can consider registering the industry code as follows: 4641 Wholesale of fabrics, ready-made garments, footwear.

– You must carry out the documents, procedures, and process for changing industries and business activities in accordance with the regulations stipulated in Article 56 of Decree No. 01/2021/ND-CP on business registration.

– The business can choose to register and submit documents online through the Business Registration Service Program at home of the City via the website www.dpi.hochiminhcity.gov.vn.

Conclusion

The decision regarding whether the company needs to supplement the wholesale sector is a significant aspect of business classification. This applies when selling fabric products. By carefully evaluating the need for this addition and ensuring alignment with regulatory requirements, the company can facilitate its expansion. It aims to enter wholesale fabric sales while operating within the bounds of the law. This proactive approach not only ensures compliance but also fosters efficient business operations and growth in the fabric industry.

HMLF is always available to offer assistance in understanding the procedures with authorities.

Harley Miller Law Firm “HMLF”

Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.

Phone number: +84 937215585

Website: hmlf.vn Email: miller@hmlf.vn