First thing, your business needs a name! The name of your business has an impact on how clients, partners and investors view you. In today’s small world, it’s a world-wide decision. How to come up with a good legal name under Vietnamese law? Here is some instructions for you
For FDI company, there are two different kinds of name that you need to distinguish: “Name of Investment Project” and “Name of Company”. Law does not require these two names need to be similar.
Name of Investment Project
This name is shown on Investment Registration Certificate (“IRC”). There is not any special requirement for name of investment project, except that name shall not be copied from name of other investment projects or name of companies’ which are existing.
In general, investors often like same name for investment project and company, but it is not compulsory. Later, investors can change the name of investment project by the procedure for amend IRC within 15 working days. Therefore, let feel free to create your unique and impress investment project name.
Name of company
This name is shown on Enterprise Registration Certificate (“ERC”) and used as the official name in transactions with government, tax department, banks, business partners, clients, etc. Unlike investment project name, there are many conditions that apply for name of company.
A company has three different names. Here is an example:
- Company name in Vietnamese: CÔNG TY CỔ PHẦN FABULOUS
- Company name in English: FABULOUS JOINT STOCK COMPANY
- Brief name: FABULOUS JSC
1. Company name in Vietnamese
This name has structure in three parts:
CÔNG TY (COMPANY) + TNHH/CỔ PHẦN (TYPE OF COMPANY) + ABCXYZ (PROPER NAME)
The group “CÔNG TY TNHH” (LIMITED LIABILITY COMPANY) or “CÔNG TY CỔ PHẦN” (JOINT STOCK COMPANY) is compulsory, indefeasible and always be written in Vietnamese
Proper name can be creative by investors, but it needs to follow some rules:
Name shall be created from Latin letter, Vietnamese alphabet, numerals and symbols (“-“, “&”…). For example: Chinese, Japanese, Korean symbols or “ö”, “ü”, “ä”, “å” are not allowed to use. This proper name may have meaning or without meaning.
Prohibited naming company that is: Using names which are identical or confusingly similar to the name of a registered enterprise in Vietnam; Using the name of a state agencies…; Using words, phrases and symbols which contravene national historical traditions, culture, ethics and fine customs
Prohibited naming company which can confusingly similar with famous trademarks in all over the world (such as Google, Coca-cola, Gucci…) or violate other registered trademarks
A company’s name cannot be identical to an existing name
You can only use a name that is not identical to an existing company or business name. Before deciding to naming you company, you should check the existing name on the Vietnam National Business Registration Portal and Vietnam Industrial Property Digital Library and domains name.
2. Company name in English
Company name in English is translated from Vietnamese name. The proper name of an enterprise may be kept unchanged or translated according to its meaning.
3. Brief name
Brief name is abbreviated from Vietnamese name or English name.
Keys to have a good company name:
Unique and unforgettable
Avoid unusual spellings
Easy to pronounce and remember
Keep it simple and short
Make some sense
Give a clue
Favor common suffixes
SHOULD YOU ENGAGE IN A LAWYER AND AN ACCOUNTANT
Company registration may seem like a major step in a new business venture for many people. Like anything, it can be daunting if you haven’t done it before and you definitely to make sure that it’s done correctly. Otherwise, you may waste a lot of time and pay fines if you do mistake, even a little one.
The process is generally quite smooth if you involve a professional to help you out. Every one wants to spend less time administering their business and more time running it. In Feline Legal, with many years experience in corporate services, lawyers and accountants will assist you and provide advance with forming your company. We also complete the paperwork, register your company and follow steps after that. You can save a lot of time and enjoy good services with reasonable price
For more information, please leave a message in chat box, or