Among many countries in Asia, Vietnam is a top destination for foreign individuals or enterprises to start a new company or expand their business. With the increasing foreign investments and business registration in Vietnam, the Vietnamese government also enacted several policies and incentives that are favorable for foreign investments. When choosing your company name in Vietnam you should be aware of certain regulations and tips.
In accordance with Vietnam Company Law, one of the key regulations to fulfill business registration in Vietnam is to name your company appropriately.
In this article, Cekindo will explain the monumental role of a company name for your business and how you can go about to reserve and register it.
Check out our latest detailed guide: How to Set Up a 100% Foreign-owned Company in Vietnam
Requirements for Naming a Company in Vietnam
All types of legal entities in Vietnam must have their name chosen, reserved and registered.
Choosing a name sounds easy but you will have to follow the requirements when naming your company:
- You must select three business names
- If it is a foreign company, it must have a Vietnamese name, a foreign name, and an abbreviated name
- Letters, symbols, and numbers may appear in the company name
- All names must be submitted to the Trade Register in Vietnam to make a reservation
- Submit the abbreviated name to the Companies Registry
- No company in Vietnam should have already used the name you have submitted
- Include the structure of the legal entity that the business operates under
RELATED: The Importance of Trademark Registration in Vietnam
Next Steps after Choosing a Company Name
Within a few working days, after your company names have been submitted to the Trade Register, the Companies House will inform you if your company name is approved.
Once approved, the next step will be incorporating your legal entity in Vietnam. You can now use the approved name for business registration in Vietnam.
For more information about forming your company in Vietnam, please contact Cekindo’s specialists.
Requirements and Process for Changing a Company Name
Only under certain conditions that you can change your company name in Vietnam:
- The name is too general or it confuses people
- The name does not apply to your current new business activities
- Your company is acquired by another company
- You want to re-brand your company
Cekindo can help you change your business with the following basic steps:
- Vote in the shareholder’s meeting to change the company name
- Send a request to the Trade Register regarding the name change
- Once approved, amend the company’s Memorandum and Articles of Association
- Notify relevant authorities about the name change
- Change the company’s seal and official documents with the new company name
Tips for Choosing a Name in Vietnam
And the key to getting a solid brand name is to deeply understand your niche, know the
kind of business you want to create, and start brainstorming for names that align with
the type of business you want to build.
If your business aims are within Vietnam and you plan on targeting the Vietnamese market then you have to take certain considerations into account. One of the most important is the language, the Vietnamese language makes it difficult for local to pronounce certain letters and intonations. The letter L does not translate well for example.
Getting fun, modern, or elegant business name ideas through brainstorming or a
business name generator is the best way to boost your brand identity and make it easier
for customers to recognize your business, connect with your business, and recommend
it to their friends and family.
Business Registration in Vietnam with Cekindo
Vietnam offers excellent options in commerce and trades and has emerged as one of the fastest-growing economies.
Therefore, if you are planning to expand your business, you must be familiar with the process of business registration in Vietnam – naming your company correctly is one of them.
Other than naming the company, the changing and complex Vietnam business registration can be a tricky task for entrepreneurs who are new to the country.
Cekindo can serve as your professional business registration consultant in Vietnam. We provide solutions that are customised to your business activities. You can now avoid piles of paperwork and set up your company in Vietnam at a reasonable cost.
For a quick, easy and clear consultation, contact our friendly business setup experts now. Fill in the form below.