Proposed Draft amendments to regulations on business registration have some basic new points as follows: Eliminate regulations on household registration [...]
The proposed draft amendment to the regulations on business registration has some basic new points as follows:
Abolish regulations on household business registration, promulgate together with a system of forms applicable to business registration
Draft Decree abolishes the regulations on business household registration in Decree No. 01/2021/ND-CP and decrees the entire system of forms for business registration currently regulated in Circular No. 01/2021/TT-BKHDT to comply with the regulations on authority to promulgate administrative procedures in the Law on Promulgation of Legal Documents and arrange and perfect the legal framework about business registration.
Additional regulations on the use of personal identification numbers when carrying out business registration procedures
In order to implement the plan to simplify administrative procedures and citizenship documents in Resolution No. 136/NQ-CP, the draft Decree has added regulations on the use of personal identification numbers when carrying out business registration procedures. Accordingly, in case the person carrying out the business registration procedure declares the personal identification number, the majority of personal information that must be declared can be reduced based on the exploitation of citizen information in the National Population Database, saving time in carrying out administrative procedures, minimizing the act of falsifying records to register an illegal business because the personal information stored in the National Population Database is information that has been verified by the Ministry of Public Security.
Additional regulations on the legal status of branches, representative offices, and business locations of the enterprise
To determine the operational status of branches, representative offices, and business locations according to the registration documents and legal status of the enterprise, to help publicize and transparent information about the legal status of branches, representative offices, and business locations, ensuring that the provision of information related to branches, representative offices, and business locations of the enterprise is accurate and legally valid; At the same time, creating consistency in statistical data between the business registration agency and the tax agency, the draft Decree supplements regulations on the legal status of branches, representative offices, and business locations, including 06 statuses: (i) Temporary suspension of business; (ii) Not operating at the registered address; (iii) Revoked due to tax administration enforcement; (iv) Procedures for termination of operations are in progress; (v) Has ceased operations; (vi) Active; At the same time, it regulates cases of updating the legal status of branches, representative offices, and business locations when the enterprise updates its legal status.
Remove regulations on business registration for credit institutions
On January 18, 2024, the National Assembly passed the Law on Credit Institutions 2024. The law takes effect from July 1, 2024. According to the provisions of this Law, the State Bank has the authority to grant, amend, supplement and revoke Licenses according to regulations; The license for establishment and operation of a credit institution is also the Certificate of Business Registration or Certificate of Cooperative Registration; Document approving the establishment of a branch or representative office of a credit institution is also the Certificate of registration of branch and representative office operations; Credit institutions, foreign bank branches, foreign representative offices established and operating under the License issued by the State Bank before the date of this Law.Effective implementation does not require a request for re-issuance of the License according to the provisions of this Law. In case of amendments or supplements to the License, it must be carried out in accordance with the provisions of this Law; The Governor of the State Bank regulates the notification of information on issuance, amendment, supplementation and revocation of Licenses; Information on the appointment of General Director (Director) of foreign bank branches, Head of foreign representative offices and related information for the business registration agency to update into the national information system on business and cooperative registration.
In addition, the Law on Credit Institutions 2024 does not stipulate that credit institutions and foreign bank branches must register their business; Representative offices of foreign credit institutions and other foreign organizations with banking activities must register their operations in accordance with the provisions of law after being granted a License as stipulated in Article 24 of the Law on Credit Institutions 2010. Therefore, the provision of business registration for credit institutions in this Decree is unfounded.
Based on the above regulations, the draft Decree does not regulate business registration of credit institutions, in accordance with the provisions of the Law on Credit Institutions 2024.
Procedures
