CHANGE OF LEGAL REPRESENTATIVE OF JOINT STOCK COMPANY

The legal representative plays a very important role in the business, maybe for some reason the company wants to change the legal representative. The following article will help people grasp some important content related to changing the legal representative.

1. What is the legal representative of Joint Stock Company?
The legal representative is the head of the company, registered with the competent state authority and shown on the business registration certificate of the enterprise. The legal representative of the company will perform (establish) transactions with partners, customers or state agencies on behalf of the company to benefit businesses.
The business may have one or more company legal representatives. Enterprises must ensure at least one legal representative residing in Vietnam

2. Document of changing the legal representative of a joint stock company
Changing the representative should prepare the following main papers:
– Notice of changing the company’s legal representative (Appendix II-2, Circular No. 02/2019 / TT-BKHDT)
– Decision of the Board of Directors on the change of enterprise legal representative;
– Board of Directors meeting minutes on changing enterprise legal representative
– Power of attorney – In case not being the legal representative of the enterprise directly submit
– A valid copy of one of the valid personal identification papers of the new legal representative and the person submitting the application: Citizenship ID Card, Identity Card or Passport.

3. Order of changing the legal representative
Changing the representative sequence consists of 3 main steps:
Step 1: Businesses prepare all required documents
Step 2: Enterprises declare to apply online via the process on the National Business Registration Portal. The enterprise will then be issued a receipt via the registered email account
Within 03 working days, the business registration office will notify the enterprise.
+ In case of valid documents: Enterprises will prepare paper documents and submit them to Business Registration Office.
+ In case of notice of amendments and additions: The enterprise corrects the request in the notification and then submits it again
Step 3: Business Registration Office checks the validity of the file and issues the enterprise registration certificate for the enterprise.

4. Notes when changing the legal representative of an enterprise

Changing the legal representative of an enterprise needs to pay attention to the following issues:
– Change bank account information
-In case of branch, representative office, company location, if there is a need to change, it is necessary to carry out procedures for changing.
-Notify customers, partners, insurance agencies, other relevant agencies about changing representatives.
– For companies with post-establishment licenses such as fire prevention and security licenses and security orders; Food Hygiene and Safety License; Travel license business … then the company needs to carry out procedures for change / renewal because there is information on the representative under the old law.
-Note when changing the legal representative associated with the transfer of capital to the new legal representative should note the procedures of personal income tax declaration of the transferor, income tax payment ( If taxable income arises)
After carrying out the procedure for changing the legal representative, the Company needs to register the change at the National Business Registration Portal.
5. Support service for changing the legal representative of a joint stock company in Hung Phuc Law
For many years, Hung Phuc Law has advised on the implementation for many enterprises wishing to change the legal representative of a joint stock company. Hung Phuc Law believes in giving you the most convenient service with the most reasonable cost and time. If businesses are in need of changes or immediately contact us for timely and accurate support. Hottline 0982.466.166

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