The original article Procedures for changing the owner of a household business in Viet Nam
Changing the owner of a household business is the procedure of changing a household business to another individual or new household when the former household business owner wants to transfer the household business to the new owner by different ways, such as selling, giving, inheriting, etc. So what is the procedure to change the old owner to the new owner of the household business? You and Nghiep Thanh Law will figure out through the article below.
1. Conditions for the new household business owner to receive the transfer[1]
When changing the owner of a household business, the new owner of the household business must satisfy the following conditions:
– The owner of a new household business has not yet registered or established any household business across the country;
– The owner of a new individual household business or a member of a new business household is not a sole proprietorship owner;
– The owner of a new household business may not be a general partner of the partnership unless otherwise agreed by the remaining general partners.
Thus, an individual who wants to receive a household busniess transfer to become a new owner must meet the criteria and conditions prescribed by the law above.
2. The dossier and procedure for changing the owner of a household business[2]
The former owner of a household business shall send a notice of changing household busines registration information to the Business Registration Office of the District where its head office has been registered business. The dossier includes:
– Notice of change of household business owner (this notice is signed by the old household business owner and the new household business owner sign, in case of receiving the transfer due to inherence, the new household business owner shall sign this notice);
– The sale and purchase contract evidencing the completion of sale and purchase (in the case of sale and purchase of a household business);
– Gift agreement (in case of gifting the household business);
– A copy of the legal inheritance rights of the new household business owner (in case of transfer due to inherence);
– A copy of the minutes of the meeting of household members on the change of owner (in case the members of the household jointly contribute capital to register the household business);
– A copy of the power of attorney for the former household business representative (in case the household members jointly contribute capital to register the business);
Note: When submitting the dossier, the relevant authority will require the former household business owner and the new household business owner to submit a copy of their identity card/citizen identity card.
Procedure for implementation[3]:
After receiving the dossier, the Household Business Registration Office of the District will issue a Receipt and schedule a date to return the results.
Within 03 working days from the date of receipt of the dossier, the Household Business Registration Office will issue a new Household Business Registration Certificate to the new owner. When a new Household Business Registration Certificate is granted, the new owner must return the old Household Business Registration Certificate.
In case the dossier is not valid, within 03 working days from the date of receipt of the dossier, the Household Business Registration Office of the District will issue a written notice requesting amendments and supplements to the household business.
Readers may refer to
Readers may refer to Can a person under 18 years old own capital in the company in Viet Nam?
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Translator: Le Khanh Linh
Content writer: Bui Thi Nhu
Instructor: Nguyen Linh Chi
Admin: Lawyer Thuan
[1] Article 80.2.3 Decree 01/2021/ND-CP.
[2] Article 90.3 Decree 01/2021/ND-CP.
[3] Article 90.5 Decree 01/ 2021/ND-CP.
