Updating the new industry code

Nowadays, Vietnam Standard Industrial Classification is officially applied new industry code under Decision 27/2018/QĐ-TTg. In this Decision, there are a significant number of sectors having changed from the old standard industrial classification. So an enterprise must update its business lines according to the new standard industrial classification. HNLaw & Partners please guide Customer as follows:

According to Official Document No. 234/ĐKKD-NV, Business Registration Management Department guilds specifically as follows:

• For enterprises granted Enterprise registration certificate before August 20th, 2018, it is not obligated to implement the procedures of updating business lines following the new classification;
• The business lines updating following the new classification is implemented when enterprises announce to change business lines or request to transfer to Enterprise registration certificate.

Thus, the updating on new business code is only obligated when changing and supplying business lines or transferring to Enterprise Registration Certificate.

Note: To Companies established before August 20, 2018 that having demand to set up branches, business locations, it would be checked for old business lines or new business lines. Thus, to set up branches, business locations, the parent companies must update new business lines first and then implement the procedures on setting up branches, business locations.

Above is the advice on: “Updating the new industry code” of HNLaw & Partners. Customers who have any question or need to use legal services please contact the firm directly for detailed advice and best support.

Detailed contact:

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Address: DBS Building, N028, Lot 31, Commercial Services and Housing Area in Ha Tri, Ha Tri Ward, Ha Dong, Hanoi.

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