The path of business is one of continuous evolution and adaptation to the ever-changing market landscape. In this dynamic environment, enterprises often find the need to change their industry or business profession to stay competitive or explore new opportunities. However, this transition involves specific procedures that must be followed to ensure compliance with regulations. In this discussion, we will explore the essential procedures for changing the industry or business profession of an enterprise, shedding light on the importance of this process in the business world.
Question:
I registered my company under industry code 7110, which covers architectural activities and related technical consultancy. Details: Prepare total construction estimates and budgets; Project management for construction investment, bidding consultancy; Construction consultancy; Interior design consultancy; Technical infrastructure construction supervision.
I want to register construction activities for the fields: Architectural activities and related technical consultancy. Details: Prepare total construction estimates and budgets; Project management for construction investment, bidding consultancy; Construction consultancy; Interior design consultancy; Technical infrastructure construction supervision. Is this allowed? Do I need to register a change in my industry?
Answer:
– Regarding the industry, profession, the enterprise should refer to the Decision No. 27/2018/QD-TTg dated July 6, 2018, of the Prime Minister on the Vietnamese economic sector system.
– Clause 7 of Article 3 in Decree No. 01/2021/ND-CP dated January 4, 2021, issued by the Government on business registration, prescribes: “In investment and business sectors with conditions specified in other legal documents, businesses shall record their industry or business profession according to the industry or profession specified in those legal documents.”
– Businesses should carry out the documentation, sequence, and procedures for changing their industry or business profession. Businesses should follow the provisions of Article 56 of Decree No. 01/2021/ND-CP for this. The Government issued the decree on business registration, and it is dated January 4, 2021.
Therefore, enterprises are advised to study and implement these regulations accordingly.
Conclusion
In conclusion, the procedures for changing the industry or business profession of an enterprise are integral to its ability to evolve. They are crucial for thriving in the modern business ecosystem. Adhering to these procedures ensures regulatory compliance. It also enables businesses to strategically pivot and adapt to new market realities. With a clear understanding of the steps involved, enterprises can confidently navigate these changes. They can position themselves for success in their chosen industries or professions.
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
