Things to do after setting up a business

1. Submit initial tax return

This is a very important step, the detailed documents include the registration form for accounting form and type of invoice used, decision to appoint leaders, accountants, fixed asset depreciation method, declaration of business license fee, registration form for information exchange via electronic means.

2. Open an account and notify the bank account number

Within 10 days after registering a bank account, the enterprise must send a notice to the Department of Planning and Investment.

A bank account can only be used for one business, but a business can use multiple accounts depending on its needs.

3. Buy digital signature

This is an important electronic tool for businesses to carry out procedures and documents online such as signing contracts online, banking transactions, social insurance without having to waste time traveling, printing, and stamping.

Similar to a bank account, a business can use multiple digital signatures, but one digital signature can only be used for one business.

4. Hanging company signs

According to the Enterprise Law, the company name must be written or displayed at the head office, branch or representative office of the company. Failure to display a company signboard can result in a fine of 10-15 million VND, and the company's tax code may even be locked.

5. Invoice issuance procedures

Value-added invoices and direct sales invoices can be in the form of electronic invoices and paper invoices. Regardless of which form the enterprise uses, it must still carry out the procedure for issuing invoices and sending them to the tax authority directly in charge.

For paper invoices: After completing the procedure to order the printing of value-added invoices and receiving approval from the tax authority, the enterprise will then contact the invoice printing and issuing unit.

For electronic invoices: After the electronic invoice registration file is approved, the issued invoice is valid for use.

6. Complete conditions for licensing, certification, and capital

For missing information during the company establishment process such as licenses and practice certificates, businesses must quickly complete them to avoid being penalized.

Fulfill the capital contribution commitment within the prescribed time limit from the date of issuance of the business license. In case after establishment, there are unexpected incidents that affect the finance and the capital contribution commitment period, the enterprise must carry out procedures to reduce the charter capital.

7. Participate in insurance for employees

Within 30 days from the date of signing the official labor contract, the enterprise must participate in insurance for employees. The dossier includes the declaration of participating unit, adjustment of social insurance information, health insurance and list of employees.

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