{"id":7275,"date":"2021-11-22T09:49:12","date_gmt":"2021-11-22T02:49:12","guid":{"rendered":"https:\/\/pl-partners.vn\/?p=7275"},"modified":"2023-12-18T17:03:47","modified_gmt":"2023-12-18T10:03:47","slug":"is-it-advisable-to-register-multiple-business-lines-2","status":"publish","type":"post","link":"https:\/\/pl-partners.vn\/en\/is-it-advisable-to-register-multiple-business-lines-2\/","title":{"rendered":"Is it advisable to register multiple business lines?"},"content":{"rendered":"<p style=\"text-align: center;\"><iframe style=\"border-radius: 12px;\" src=\"https:\/\/open.spotify.com\/embed\/episode\/0wyBhQKgVBniz7WlgCYa41?utm_source=generator\" width=\"100%\" height=\"352\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<div><span style=\"color: #000000;\">When registering their business, enterprises will need to register the business lines they wish to operate. Applicable law does not stipulate a limit on the number of business lines to be registered. Therefore, enterprises can register an unlimited number of business lines.<\/span><\/div>\n<div><\/div>\n<div><span style=\"color: #000000;\">However, registering too many business lines without direction will lead to certain disadvantages.<\/span><\/div>\n<div><\/div>\n<div><span style=\"color: #000000;\">So what exactly is this problem? Should enterprises register multiple business lines? Let&#8217;s learn about this issue through the following answer from PL &amp; Partners Law Firm to a reader.<\/span><\/div>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">N\u1ed9i dung b\u00e0i vi\u1ebft<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/pl-partners.vn\/en\/is-it-advisable-to-register-multiple-business-lines-2\/#A_Question\" title=\"A. Question:\">A. Question:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/pl-partners.vn\/en\/is-it-advisable-to-register-multiple-business-lines-2\/#B_Answer\" title=\"B. Answer:\">B. Answer:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/pl-partners.vn\/en\/is-it-advisable-to-register-multiple-business-lines-2\/#1_Differences_between_business_lines_of_domestic_enterprises_and_foreign-invested_enterprises\" title=\"1. Differences between business lines of domestic enterprises and foreign-invested enterprises\">1. Differences between business lines of domestic enterprises and foreign-invested enterprises<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/pl-partners.vn\/en\/is-it-advisable-to-register-multiple-business-lines-2\/#2_Is_it_advisable_to_register_multiple_business_lines\" title=\"2. Is it advisable to register multiple business lines?\">2. Is it advisable to register multiple business lines?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/pl-partners.vn\/en\/is-it-advisable-to-register-multiple-business-lines-2\/#PL_AND_PARTNERS_LAW_FIRM\" title=\"PL AND PARTNERS LAW FIRM\">PL AND PARTNERS LAW FIRM<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"A_Question\"><\/span><span style=\"color: #003366;\"><strong>A. Question:<\/strong> <\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Dear lawyer, some of my friends and I are planning to establish a company. <\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">My friends think we should register many different business lines even though some of them have not come into operation or are not yet operated so that later we do not have to carry out the procedure to update the changed business lines. <\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">However, in my opinion, only those lines that are operating should be registered. <\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">I would like to ask for consult whether to register multiple business lines for the company or not and why?<\/span><\/p>\n<figure style=\"width: 2560px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/pl-partners.vn\/wp-content\/uploads\/2021\/11\/co-nen-dang-ky-nhieu-nganh-nghe-kinh-doanh-1-scaled.jpg\" alt=\"Li\u1ec7u doanh nghi\u1ec7p c\u00f3 n\u00ean \u0111\u0103ng k\u00fd th\u1eadt nhi\u1ec1u ng\u00e0nh ngh\u1ec1 khi \u0111\u0103ng k\u00fd kinh doanh?\" width=\"2560\" height=\"1792\" \/><figcaption class=\"wp-caption-text\"><em>Should enterprises register for various business lines upon establishment?<\/em><\/figcaption><\/figure>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"B_Answer\"><\/span><span style=\"color: #003366;\"><strong>B. Answer:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">PL &amp; Partners would like to thank you for trusting and sending questions to us. For your question, we would like to reply as follows:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Choosing business lines to register for domestic and foreign enterprises has some basic differences. Since you did not specify whether your business has foreign capital or not, we are going to cite in both cases.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Differences_between_business_lines_of_domestic_enterprises_and_foreign-invested_enterprises\"><\/span><span style=\"color: #ed1c24;\"><strong>1. Differences between business lines of domestic enterprises and foreign-invested enterprises<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #000000;\">For Vietnamese enterprises: opting for line codes shall comply with the principle that enterprises freely engage in any business lines that are not banned by the law based on Vietnam&#8217;s economic system promulgated together with <span style=\"color: #0000ff;\">Decision No. 27\/2018\/QD-TTg<\/span> dated July 6, 2018 of the Prime Minister. Enterprises choose line codes in the system of Vietnamese economic sectors corresponding to their business activities for enterprise registration and operation registration.<\/span><\/p>\n<p><span style=\"color: #000000;\">For foreign-invested enterprises: in addition to choosing the line codes in the system of Vietnamese economic sectors, the enterprise shall also choose the international line code (&#8220;CPC&#8221;) according to the Schedule of Commitments on Trade in Services of Vietnam in the WTO&#8217;s Schedule of Commitments and International Treaties to which Vietnam is a signatory. In case the enterprise registers a line code not corresponding to any CPC in the Schedule of Commitments or mentioned in the Schedule of Commitments and International Treaties to which Vietnam is a signatory, the enterprise shall consult competent authorities in Vietnam to obtain their approval. After being approved, the enterprise can register to do business and operate those lines. In fact, the procedure for approval is quite complicated.<\/span><\/p>\n<figure id=\"attachment_7831\" aria-describedby=\"caption-attachment-7831\" style=\"width: 1020px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-large wp-image-7831\" src=\"https:\/\/pl-partners.vn\/wp-content\/uploads\/2021\/11\/co-nen-dang-ky-nhieu-nganh-nghe-kinh-doanh-02-eng-1024x717.jpg\" alt=\"There are differences in business registration of domestic and foreign enterprises.\" width=\"1020\" height=\"714\" srcset=\"https:\/\/pl-partners.vn\/wp-content\/uploads\/2021\/11\/co-nen-dang-ky-nhieu-nganh-nghe-kinh-doanh-02-eng-1024x717.jpg 1024w, https:\/\/pl-partners.vn\/wp-content\/uploads\/2021\/11\/co-nen-dang-ky-nhieu-nganh-nghe-kinh-doanh-02-eng-269x188.jpg 269w, https:\/\/pl-partners.vn\/wp-content\/uploads\/2021\/11\/co-nen-dang-ky-nhieu-nganh-nghe-kinh-doanh-02-eng-768x538.jpg 768w, https:\/\/pl-partners.vn\/wp-content\/uploads\/2021\/11\/co-nen-dang-ky-nhieu-nganh-nghe-kinh-doanh-02-eng-1536x1075.jpg 1536w, https:\/\/pl-partners.vn\/wp-content\/uploads\/2021\/11\/co-nen-dang-ky-nhieu-nganh-nghe-kinh-doanh-02-eng-2048x1434.jpg 2048w, https:\/\/pl-partners.vn\/wp-content\/uploads\/2021\/11\/co-nen-dang-ky-nhieu-nganh-nghe-kinh-doanh-02-eng-43x30.jpg 43w\" sizes=\"(max-width: 1020px) 100vw, 1020px\" \/><figcaption id=\"caption-attachment-7831\" class=\"wp-caption-text\"><em>There are differences in business registration of domestic and foreign enterprises.<\/em><\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"2_Is_it_advisable_to_register_multiple_business_lines\"><\/span><span style=\"color: #ed1c24;\"><strong>2. Is it advisable to register multiple business lines?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Current laws do not limit the number of registered business lines. Therefore, enterprises are entitled to register an unlimited number of business lines. However, the indiscriminate, non-selective and undirected registration of business lines will lead to certain disadvantages as follows:<\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\"><em><strong>First<\/strong><\/em>, for a newly established enterprise, registering too many business lines will lead to the business operation field being &#8220;diluted&#8221;, making it difficult to exactly identify business goals.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\"><em><strong>Second<\/strong><\/em>, an enterprise with too many business lines will make it difficult for its partners and clients to determine the mission and strengths of that enterprise, as well as what the main business lines of the company are, which makes the company fail to build the trust of partners toward the company.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\"><em><strong>Third<\/strong><\/em>, it should be noted that not every line that applies for registration will be allowed to do business immediately, but for conditional business lines, your company must meet all the basic conditions on facilities, practice certificates, legal capital, etc. to obtain the corresponding sub-licenses.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><em><strong>Example<\/strong><\/em>:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">Companies operating in the field of labor sub-leasing shall deposit VND two billion.<\/span><\/li>\n<li><span style=\"color: #000000;\">Foreign investors operating in the field of advertising shall form a joint venture with a Vietnamese company also operating in the field of advertising.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Therefore, according to PL &amp; Partners&#8217; experience, enterprises should only register business lines in which they are going to operate, business lines that are relevant and complementary to the field in which they are going to operate and ones that are expected for business career plan for future development.<\/span><\/p>\n<figure style=\"width: 2560px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" src=\"https:\/\/pl-partners.vn\/wp-content\/uploads\/2021\/11\/co-nen-dang-ky-nhieu-nganh-nghe-kinh-doanh-02-scaled.jpg\" alt=\"Doanh nghi\u1ec7p ch\u1ec9 n\u00ean \u0111\u0103ng k\u00fd c\u00e1c ng\u00e0nh ngh\u1ec1 kinh doanh m\u00e0 doanh nghi\u1ec7p s\u1ebd ho\u1ea1t \u0111\u1ed9ng v\u00e0 c\u00e1c ng\u00e0nh ngh\u1ec1 b\u1ed5 tr\u1ee3\" width=\"2560\" height=\"1791\" \/><figcaption class=\"wp-caption-text\"><em>Enterprises should only register business lines that they would actually do and their auxiliary.<\/em><\/figcaption><\/figure>\n<div><span style=\"color: #000000;\">So, above, PL &amp; Partners Law Firm has answered a reader&#8217;s question about the issue: &#8220;Should we register many business lines?&#8221;<\/span><\/div>\n<div><\/div>\n<div><span style=\"color: #000000;\">Hope that you find the above content useful to you and your friends.<\/span><\/div>\n<hr \/>\n<h3><span class=\"ez-toc-section\" id=\"PL_AND_PARTNERS_LAW_FIRM\"><\/span><span style=\"color: #ed1c24;\"><strong>PL <\/strong><strong>AND<\/strong> <strong>PARTNERS<\/strong><strong> LAW FIRM<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #282828;\"><span style=\"color: #000000;\"><em><strong>Head<\/strong><strong>quarters<\/strong><strong>:<\/strong><\/em><\/span> <span style=\"color: #000000;\">46<sup>th<\/sup> Floor, Bitexco Financial Tower, No. 2 Hai Trieu, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam<\/span><\/span><\/p>\n<p><span style=\"color: #282828;\"><em><span style=\"color: #000000;\"><strong>O<\/strong><strong>ffice:<\/strong><\/span><\/em> <span style=\"color: #000000;\">Lot 1.16 Viva Riverside, 1472 Vo Van Kiet, Ward 3, District 6, HCMC<\/span><\/span><\/p>\n<p><span style=\"color: #282828;\"><em><span style=\"color: #000000;\"><strong>Hotline:<\/strong><\/span><\/em> <span style=\"color: #000000;\">093.1111.060<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong><em>Email:\u00a0<\/em><\/strong><a style=\"color: #000000;\" href=\"http:\/\/info@pl-partners.vn\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">info@pl-partners.vn<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong><em>Facebook:<\/em><\/strong>\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.facebook.com\/PLLaw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">www.facebook.com\/PLLaw<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong><em>Website:\u00a0<\/em><\/strong><a style=\"color: #000000;\" href=\"https:\/\/pl-partners.vn\/\"><em>www.PL-PARTNERS.vn<\/em><\/a><em> \u2013 <\/em><a style=\"color: #000000;\" href=\"http:\/\/www.hoidapluat.net\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><em>www.HOIDAPLUAT.net<\/em><\/a><em> \u2013 <\/em><a style=\"color: #000000;\" href=\"http:\/\/www.thutucphaply.org\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><em>www.THUTUCPHAPLY.org<\/em><\/a><\/span><\/p>\n<hr \/>\n<table style=\"width: 100%; border-collapse: collapse; background-color: #e3f1fa;\" border=\"1\/2pt\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\">\n<ul>\n<li style=\"text-align: justify;\"><span style=\"color: #0000ff; font-size: 16px;\">The above-mentioned consulting opinions are based on the provisions of the law and information provided by the client. Any legal opinions expressed (unless cited) are our own and for reference only.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #0000ff; font-size: 16px;\">At the time you read this article, the laws we refer to may have expired, or have been amended or supplemented. Therefore, we do not guarantee that the above information can be applied to all cases, to all subjects, at all times.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #0000ff; font-size: 16px;\">For accurate and specific consultancy, please contact PL&amp;Partners lawyer via call center 093.1111.060 or email: info@pl-partners.vn.<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>When registering their business, enterprises will need to register the business lines they wish to operate. Applicable law does not stipulate a limit on the number of business lines to be registered. Therefore, enterprises can register an unlimited number of business lines. However, registering too many business lines without direction will lead to certain disadvantages. [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":4556,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/posts\/7275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/comments?post=7275"}],"version-history":[{"count":0,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/posts\/7275\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/media\/4556"}],"wp:attachment":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/media?parent=7275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/categories?post=7275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/tags?post=7275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}