CHANGES THAT NEED TO PAY ATTENTION ABOUT BUSINESS HOUSEHOLDS

1. The objects allowed to establish business households:

️️✨ Pursuant to Clause 1, Article 79 of Decree 79/2021/ND-CP, business households are established from the following entities:

▪️ An individual established.

▪️ Established household members.

️✨Thus, according to the new regulations, "groups of Vietnamese individuals" are no longer allowed to establish business households. In addition, in Article 79 of Decree 01, additional objects who do not need to register a business are: Seasonal business people.

 2. Business households are allowed to do business at many other locations:

✨ Pursuant to Clause 2, Article 86 of Decree No. 79/2021/ND-CP, a business household may conduct business at many locations but must select one location to register its head office and must choose one location to register its business household and notify to tax administration agency, market management agency where business activities are conducted for the remaining business locations

3. Business households may suspend business indefinitely:

✨ Pursuant to Decree 01/2021/ND-CP, business households no longer regulate the deadline for business suspension but must send a notice to the registered district-level business registration office at least 03 days before suspending business.

 4. Business household authorized to register business procedures:

✨ Pursuant to Clause 4, Article 84 of Decree No. 01/2021/ND-CP, the owner of a business household may authorize another organization or individual to carry out the procedures for business household registration as prescribed in Article 12 of this Decree.

 5. Regulations on business operations managers:

✨ Pursuant to Clause 3, Article 81 of Decree No. 01/2021/ND-CP, business households can hire other people to manage and operate their business activities. However, business households are still taking responsibility for debts and property obligations arising from business activities.

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