Guide to choosing registered business lines
The registration of a licensed business line indicates the scope of business activities that the business is licensed to perform. In addition, there are many legal policies applied to businesses based on the licensed business line, such as business support, tax exemptions, whether or not invoices are issued... based on the business line code that the business is licensed to perform.
Vieter
Below are detailed instructions on registering a business line when establishing a business:
1. Search and look up business lines to be registered
Vietnam's economic sector system is applied according to Decision 27/2018/QD-TTg promulgating the Vietnamese economic sector system effective from August 20, 8.
Accordingly, the List of Vietnam's economic sector system includes the following five levels:
– Level 1 industry includes 21 branches coded alphabetically from A to U, respectively;
- Level 2 industry includes 88 branches; each industry is coded with two numbers according to the corresponding level 1 industry;
- Level 3 industry includes 242 branches; each sector is coded with three numbers according to the corresponding level 2 industry;
- Level 4 industry includes 486 industries (increasing 49 industries); each sector is coded with four numbers according to the corresponding level 3 industry;
- Level 5 industry includes 734 industries (increasing by 92 industries); each sector is coded with five numbers according to the corresponding level 4 industry.
| Look up the most accurate Vietnamese economic code here: National Business Registration Portal |
Look up business lines by MST only 2 STEP
Here is a guide to Look up business lines by Vieter tax number. With just 2 simple steps, we have looked up information about businesses and business lines at the national information portal on businesses.
2. Determining conditional business lines
2.1. Not allowed to do business in prohibited investment and business sectors.
The following 8 industries and trades are prohibited from doing business:
a) Trading in narcotic substances specified in Appendix I of this Law;
b) Trading in chemicals and minerals specified in Appendix II of this Law;
c) Trading in specimens of wild plants and animals of natural origin specified in Appendix I to the Convention on International Trade in Endangered Species of Wild Fauna and Flora; specimens of endangered, precious and rare species of forest plants, animals and aquatic animals of Group I, derived from natural exploitation as prescribed in Appendix III of this Law;
d) Trading in prostitution;
e) Buying and selling people, tissues, corpses, human body parts, and human fetuses;
f) Business activities related to human asexual reproduction;
g) Trading in firecrackers;
h) Business debt collection services.
2.2. Determining conditional business lines
Conditional business and investment sectors means an industry or trade in which the conduct of business investment activities in such industry or trade must satisfy necessary conditions for reasons of national defense and security, social order and safety, and social ethics. community health.
The list of conditional business lines and industries is specified in Appendix IV of the Law on Investment. Look up the list below:
List of conditional business lines under the Investment Law 2020
Place of issue: National Assembly Effective date: January 01, 01 Date of issue: June 2021, 17 Status: Still in effect NATIONAL ASSEMBLY SOCIALIST REPUBLIC OF VIETNAM Independent
2.3. Consider the ability to meet business investment conditions
Business investment conditions are conditions that individuals and organizations must meet when conducting business investment activities in conditional investment and business lines.
Business investment conditions are applied in the following forms:
a) License;
b) Certificate;
c) Certificate;
d) Written confirmation or approval;
e) Other requirements that individuals and economic organizations must meet to carry out business investment activities without requiring written confirmation from a competent authority.
