Establishing a Security Company in Vietnam: A Comprehensive Guide

The booming security services industry in Vietnam presents an enticing opportunity for aspiring entrepreneurs. However, navigating the intricate legal framework and procedures for establishing a security company can be daunting. Fear not! This comprehensive guideby NT International Law Firm provides you with all the necessary information, from understanding the legal basis to fulfilling post-establishment requirements, empowering you to confidently embark on your entrepreneurial journey.

Establishing a Security Company in Vietnam: A Comprehensive Guide

Legal Basis for a Security Company:

• Enterprise Law 2020: Defines the general framework for establishing and operating businesses in Vietnam.
• Decree 96/2016/ND-CP: Regulates security and order conditions for businesses in specific sectors, including security services.
• Decree 122/2021/ND-CP: Establishes sanctions for administrative violations in the field of planning and investment, including violations related to security companies.

Conditions – Building a Strong Foundation:

• Personnel:
  • Your security guards must possess a practicing certificate or security profession qualification.
  • The individual directly responsible for order and security must have a college degree or higher.
  • If collaborating with foreign partners, ensure they meet specific criteria regarding security experience and investment capital.
• Operations:
  • Obtain a license demonstrating your company’s compliance with security and order conditions.
  • Ensure your operations adhere to all fire prevention and safety regulations.

Procedures for Establishment:

Step 1: Prepare Documents:

• Application for security service business registration certificate (Form No. 03).
• Company’s charter.
• List of members/shareholders.
• Valid ID/passport/business registration certificate/establishment decision.
• Capital contribution decision for members.
• Power of attorney for the applicant.

Step 2: Submit Documents and Receive Business Registration Certificate:

• Submit documents to the Department of Planning and Investment.
• Processing time: 3 working days.
• Outcome: Business Registration Certificate with a tax code.

Step 3: Engrave Seal and Notify Seal Sample Usage:

• Design and engrave the company seal.
• Submit application to notify the use of the enterprise’s seal sample.
• Receive a receipt and seal sample registration notice.

Step 4: Announce Business Registration Content:

• Publish content on the national electronic information portal within 30 days.
• Content includes business lines and shareholder information.

Step 5: Apply for Certificate of Satisfaction of Security and Order Conditions:

• Submit application and supporting documents to the competent police agency.
• Processing time: 5 working days.
• Outcome: Certificate of satisfaction of security and order conditions.

Post-Establishment Requirements:

• Hang your company sign proudly at your headquarters.
• Apply for the appropriate tax calculation method.
• Open a dedicated business bank account.
• Register for an electronic digital signature for convenient tax payments.
• Declare and pay your license tax promptly.
• Issue value-added invoices for all your transactions.
• Remember to contribute your full capital within 90 days of registration.

Embrace Expert Advice – Navigate the Legal Landscape with Confidence:

Establishing a security company can be intricate, and navigating the legal complexities can be overwhelming. Consulting with a seasoned legal professional specializing in Vietnamese business law is invaluable. They offer invaluable guidance on:

• Legal compliance and regulatory requirements.
• Obtaining licenses and permits efficiently.
• Drafting contracts and agreements that protect your interests.
• Managing risk and liability effectively.
• Understanding tax implications and ensuring financial success.

By equipping yourself with the knowledge outlined in this guide and seeking expert advice, you can confidently navigate the legal landscape and establish a thriving security company in Vietnam. Remember, success requires not only determination but also a firm grasp of the legal framework and regulations. With careful planning, meticulous execution, and the right support, you can transform your dream into a flourishing reality.

NT International Law Firm is Here to Help

NT International Law Firm has addressed the question of how you can start your security business with ease and confidence. If you have any further questions or concerns regarding corporate law, please contact our law firm immediately for expert legal advice.

If you require any legal assistance, please feel free to reach out to us via phone at 090 252 4567 or through email: info@ntpartnerlawfirm.com. At NT INTERNATIONAL LAW FIRM, our team is committed to offering you prompt and personalized advice.

You also might be interested in:

• The 2015 Civil Code in English
• The 2020 Law On Enterprises in English