Change of company name and change of property owner shall bear the registration fee.

Change of company name and change of property owner shall bear the registration fee

Vietnamese Ministry of Finance has issued the Circular No. 75/2016/TT-BTC dated 24thMay 2016 of the Vietnamese Ministry of Finance on amendment  of Clause 2, Article 1 of Circular No.34/2013/TT-BTC dated 28thMarch 2013 on amendment of  some articles of Circular No. 124/2011/TT-BTC dated 31 August 2011 of Vietnamese Ministry of Finance providing guidelines on the registration fee, in which it limits the payers who shall bear registration fee concerning the case " Change of company name and change of property owner".

Only the following cases which change company name together with the change of property owner  shall bear registration fee:

1. Change of company name and change of all founding shareholders (for the joint stock company with the founding shareholders), or change of the entire shareholders owning initial charter capital (for joint stock companies without  founding shareholders) or change of all company members (for other types of enterprises) or the Private company (for the case of the sale of enterprises as defined in Article 187 of the enterprise Law 2014).

2. Change of the company name and type of enterprise transformation in accordance with the provisions of:
- A limited liability company may be converted into a shareholding company by way of  selling  all  capital contribution to one or more other organizations or individuals (Point c Paragraph 2 Article 196 of the Law on Enterprise);
- A  shareholding  company  may  be  converted  into  a  one  member  limited  liability  company by one organization or  individual not being a shareholder  receives an assignment of  the entire shares of all shareholders of the company (point b, Clause 1, Article 197);
- A shareholding company may be converted into a limited liability company at the same time as it assigns all or part of shares to other capital contributing organizations or individuals (Point c, Clause 1, Article 198);
- Conversion of private enterprises into limited liability companies (Article 199 of the Enterprise Law), unless the transformation from a private enterprise into limited liability companies by single member  who was the owner of the private enterprise.
Tax sector repeals the regulations on the registration fee applying for change of company name simultaneously transfer part of the capital.
Circular takes effect from 10thJuly 2016.

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