Conditions for establishing an information technology company

Create at: 02/06/2022 15:50

1. What is an information technology company?

🔰 Information technology is a collection of scientific methods, modern technical means, and tools - mainly computer and telecommunications techniques - in order to organize the effective exploitation and use of information resources that are rich and potential in all fields of human and social activities.

🔰 In the era of industrial revolution 4.0, the technology field is considered a key field for development. In recent years, in Vietnam, more and more technology companies have been born and promise the explosive development of the technology field. The technology sector is an industry prioritized for development by the state. The government offers preferential policies to promote the development of the technology sector.

🔰 Vietnamese law allows businesses to operate in business lines that are not prohibited by law. However, enterprises are obliged to register their business lines when establishing the company.

🔰 Industry code of information technology company:

Business line	Code
Software publishing	5820
Other telecommunications activities	6190
Computer Programming	6201
Data processing, leasing, and related activities	6311
Activities of information technology services and other services related to computers	6029
Computer consulting and computer system administration	6202
Portal	6312
Other information services n.e.c	6329
Advertisement	7310

2. Conditions for establishing an information technology company:

✔ Information technology business has conditional business lines (enterprises can only conduct business when they fully satisfy the conditions of the law). Therefore, with these business lines, when they want to operate in addition to being on the list of business lines, businesses need to apply for a sub-license issued by a specialized management agency to be eligible to do business.

✔ Patent or utility solution registration: In addition to the legal procedures, usually, information technology companies will likely have a lot of patents or intellectual property that need to be recognized. In case your company has patent products, please carry out patent registration procedures with the National Office of Property and Intellectual Property at 386 Nguyen Trai, Thanh Xuan, Hanoi to better protect you and your company.

3. Preferential policies for information technology:

✨ For corporate income tax: The State will offer 10% corporate income tax incentives for companies operating in the field of software investment and production. In addition, enterprises are also entitled to a four-year tax exemption and a 50% reduction in payable tax for the next nine years.

✨ For value-added tax: Computer software is not subject to value-added tax.

4. Procedures for establishing an information technology company:

4.1. Place of business license:

🔗 Submit the application directly to the one-stop department at the Business Registration Office of the Department of Planning and Investment where the enterprise's head office is located.

🔗 Register online at the National Business Registration Portal with a public digital signature or use a business registration account.

4.2. Procedures for setting up an information technology company:

👉 Step 1: Advise business people on the regulations on setting up a company

👉 Step 2: Prepare documents and give them to business people to sign.

👉 Step 3: TASCO will submit the application on your behalf and receive the results.

👉 Step 4: Hand over the registration certificate to entrepreneurs.

👉 Step 5: Post-establishment consultation.

4.3. Performance records include:

➥ Charter of information technology company;

➥ An application for registration of the establishment of an information technology company;

➥ Authorization letter (if the applicant is not a legal representative);

➥ Notarized copy of ID card/citizens identification/passport of the member/shareholder (not older than 6 months);