Businesses to get registration certificates within five days

Hanoi (VNA) - It will take businesses a maximum of just five days to
receive business registration certificates, according to a new
inter-ministry circular released on July 29.

Under the circular, issued by the ministries of Finance, Planning and
Investment, and Public Security to regulate business and taxation
registrations, relevant authorities must grant business registration
certificates to applicants within five days of receiving legal applications
in written form.

Individuals and organisations may also receive tax codes and complete
procedures for changing their business operations within five days from the
date they applied for the requirements.

Under current regulations, it takes businesses 10 days to complete the
procedures related to setting up firms or changing business operations.

According to the Ministry of Planning and Investment, the circular aimed
to create closer cooperation between the relevant ministries in order to
help businesses in setting up firms and in their operations.

Under the circular, departments of planning and investment in cities and
provinces, which would act as one-stop shop for the applications, would be
in charge of receiving applications and returning the certificates and tax
codes to businesses.

The five-day period will also be applied for applications via online
business registration systems; however, businesses will be required to
submit a written business registration application when coming in to receive
their certificates.

The circular will take effect 15 days after it is published in the
Governmental gazette.