For FDI enterprises, changing business lines is not limited to receiving the new Business Registration Certificate. The real challenge lies in ensuring that all subsequent operations—from tax, banking, to relevant “sub-licenses”—are synchronized to avoid unnecessary legal risks. In this article, KMC provides you with a comprehensive roadmap.
Comprehensive Roadmap for Changing Business Lines of FDI Enterprises
Phase 1: Preparation and Assessment
Step 1: Clearly Identify the Type of Change
First, clearly define what you want to change so that you can focus on the correct procedures and required documents, avoiding unnecessary steps. Typically, there are three types of changes:
- Add new business lines to expand business opportunities.
- Remove business lines to concentrate resources on core areas.
- Change the main business line to implement a comprehensive strategic shift.
Step 2: Lookup and Select the Accurate Industry Code
You must register according to the 4-digit industry code in Vietnam’s standard economic classification (VSIC). You can check this directly on the National Business Registration Portal or use specialized online tools.
Note: Selecting the wrong code may result in the rejection of your application or, worse, the company operating illegally because its actual business activities do not match the registered business lines.
Step 3: Review Specific Legal Requirements
If your new business lines fall under conditional business lines, carefully examine the legal requirements to avoid legal “traps.” Typically, you must comply with:
- Charter capital (minimum capital requirement)
- Professional certificates of individuals and licenses of the organization
- Requirements for facilities, equipment, and safety (Fire Safety – PCCC, Food Safety – VSATTP)
Note: The registered business lines must not fall under the list of prohibited investment/business sectors.
Phase 2: Execute Legal Procedures
Step 4: Prepare Complete Documentation
You need to prepare the following documents:
- Notification of changes to business registration information
- Meeting minutes (for Joint-Stock Companies or 2-member LLCs) or Owner’s Decision (for single-member LLCs) regarding the change of business lines
- Power of attorney for the person submitting the application
Step 5: Submit the Application and Monitor Progress
There are two submission methods:
- Online submission via the National Business Registration Portal. This is recommended as it is convenient, fast, allows submission anytime, anywhere, and enables online tracking of the application status. However, a digital signature and some experience with the system are required.
- Offline submission directly at the One-Stop Service of the Department of Finance where the company is headquartered. You will receive direct guidance, but it takes more time for travel and waiting.
Step 6: Receive Results
Within 3–5 working days, the Department of Finance will issue a new Business Registration Certificate reflecting the updated business lines if the application is valid.
Phase 3: Completion and Ensuring Smooth Operations – The Truly “Comprehensive” Phase
Many enterprises mistakenly think that receiving the new Business Registration Certificate marks the end of the process. However, if you want your company to operate safely and legally under the new business lines, you must carry out the following “behind-the-scenes” tasks:
Step 7: Update Information with Regulatory Authorities (Mandatory)
Tax Authority: You must notify the change of tax registration information and update the new business lines on the electronic invoices. Without this, issuing invoices for the new business lines will be invalid.
Bank: You need to provide the new Business Registration Certificate so that the bank can update your account information and avoid transaction disruptions.
Step 8: Fulfill Obligations Related to the New Business Lines
If the new business lines are conditional, you must immediately apply for the relevant “sub-licenses.” Examples include:
- Fire Safety Compliance Certificate (PCCC)
- Food Safety Certificate (VSATTP)
- Environmental Impact Assessment Report
- Other sub-licenses depending on the specific business lines
Note: Without these sub-licenses, your company is still not legally permitted to operate in the new business lines, even if they are listed on the Business Registration Certificate.
Step 9: Internal and External Synchronization
To ensure professionalism, update the new business lines on your website, business cards, and standard contracts. Additionally, notify your partners and key customers about the change.
Frequently Asked Questions
How much time does a company have to complete the registration after deciding to change its business lines?
According to regulations, the enterprise must complete the registration process within 10 working days from the date of the decision. Delays beyond this period may result in administrative penalties.
For FDI enterprises seeking a comprehensive business line change, simply receiving the new license is not enough; you must also update information with regulatory authorities, partners, and customers. If you require expert guidance to design a fully optimized roadmap for your company, contact KMC at info@kmc.vn. Our team of experienced specialists will help you plan from A to Z so that you can focus entirely on your business strategy.
