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Is it true that providing incorrect information in a business registration dossier could result in a fine of up to 70 million VND starting July 21, 2026?
From July 21, 2026, a fine ranging from 30,000,000 VND to 70,000,000 VND will be imposed for the act of providing incorrect information in a business registration dossier.
Note: The aforementioned fine applies to organizations.
For the same administrative violation, the fine applicable to an individual is half the fine applicable to an organization.
(Clause 2, Article 4 of Decree 122/2021/ND-CP)
Pursuant to Article 43 of Decree 122/2021/ND-CP (as amended by Article 1 of Decree 288/2026/ND-CP), it is clearly stated:
Violations regarding the declaration of dossiers for business registration, or registration of operations for branches, representative offices, and business locations:
A fine of 30,000,000 VND to 70,000,000 VND shall be imposed for the act of providing untruthful or inaccurate information in dossiers for: business establishment registration; registration of branch or representative office operations; or registration of changes to the contents of business registration, branch operations, representative office operations, or business locations. Dossiers for notifying changes to business registration details and the establishment of business locations; dossiers for enterprise dissolution; information regarding beneficial owners and details used to identify beneficial owners within business registration dossiers; dossiers for notifying changes to information about beneficial owners or details used to identify them.
*The above information addresses the question: “Can providing incorrect information in a business registration dossier result in a fine of up to 70 million VND starting July 21, 2026?”
What are the current regulations regarding business registration dossiers?
Pursuant to Article 24 of Decree 168/2025/ND-CP (as supplemented by Article 7 of Decree 296/2026/ND-CP), current regulations on business registration dossiers are as follows:
(1) Dossier for registering a private enterprise
The dossier for registering a private enterprise is prescribed in Article 19 of the Law on Enterprises 2020, specifically:
– Application for business registration.
– Copies of the private enterprise owner’s personal legal documents.
In cases where the private enterprise owner declares their personal identification number in accordance with Clause 1, Article 11 of Decree 168/2025/ND-CP, the business registration dossier does not need to include copies of the owner’s personal legal documents.
(2) Dossier for registering a partnership
The dossier for registering a partnership is prescribed in Article 20 of the Law on Enterprises 2020 (as amended by Clause 7, Article 1 of the Law Amending the Law on Enterprises 2025), specifically:
– Application for business registration.
– Company charter.
– List of partners; list of the enterprise’s beneficial owners (if any). – Copies of personal legal documents for members.
– Copies of the Investment Registration Certificate for foreign investors, in accordance with the 2020 Law on Investment.
Where a member is an individual, or where the authorized representative of an organizational member declares their personal identification number pursuant to Clause 1, Article 11 of Decree 168/2025/ND-CP, the enterprise registration dossier shall not include copies of the legal documents of such individuals.
(3) Registration dossier for a Limited Liability Company (LLC)
The registration dossier for a limited liability company, as prescribed in Article 21 of the 2020 Law on Enterprises (as amended by Clause 8, Article 1 of the 2025 Law Amending the Law on Enterprises), specifically includes:
– Application for enterprise registration.
– Company charter.
– List of members; list of beneficial owners of the enterprise (if any).
– Copies of the following documents:
+ Personal legal documents for members who are individuals and for legal representatives;
+ Legal documents of the organization for members that are organizations, along with the document appointing the authorized representative; and personal legal documents for the authorized representative of an organizational member.
For foreign organizational members, copies of the organization’s legal documents must be consularly legalized;
+ Investment Registration Certificate for foreign investors, in accordance with the Law on Investment 2020.
In the case of registering a single-member limited liability company, the dossier does not include the list of members prescribed in Clause 3, Article 21 of the Law on Enterprises 2020.
Where the owner or member is an individual, or where the legal representative or authorized representative of an owner or member that is an organization declares their personal identification number in accordance with Clause 1, Article 11 of Decree 168/2025/ND-CP, the enterprise registration dossier does not include copies of the legal documents of these individuals.
(4) Registration dossier for a joint-stock company
The registration dossier for a joint-stock company is prescribed in Article 22 of the Law on Enterprises 2020, as amended by Clause 9, Article 1 of the Law Amending the Law on Enterprises 2025, specifically:
– Application for enterprise registration.
– Company charter.
– List of founding shareholders; list of shareholders that are foreign investors; list of beneficial owners of the enterprise (if any).
– Copies of the following documents:
+ Legal documents of individuals regarding founding shareholders and shareholders that are foreign investors who are individuals, and legal representatives;
+ Legal documents of organizations regarding shareholders that are organizations and the document appointing an authorized representative; legal documents of individuals regarding authorized representatives of founding shareholders and shareholders that are foreign investors which are organizations.
For shareholders that are foreign organizations, copies of the organization’s legal documents must be consularly legalized; + Investment Registration Certificate for foreign investors, in accordance with the Law on Investment 2020.
Where founding shareholders and shareholders who are foreign investors are individuals, or where legal representatives or authorized representatives of founding shareholders and shareholders that are foreign-invested organizations declare their personal identification numbers pursuant to Clause 1, Article 11 of Decree 168/2025/NĐ-CP, the enterprise registration dossier shall not include copies of the legal documents of these individuals.
Note:
– In cases where a foreign investor establishes an economic organization to implement an investment project prior to obtaining investment registration—in order to carry out special investment procedures as prescribed by investment laws—the dossier for enterprise registration to implement the project shall not include a copy of the Investment Registration Certificate for foreign investors (as otherwise required under Clause 5, Article 20; Point c, Clause 4, Article 21; and Point c, Clause 4, Article 22 of the Law on Enterprise 2020). In such cases, the investor bears responsibility for the legality, truthfulness, and accuracy of the information declared regarding the special investment procedures. – Where a foreign investor establishes an enterprise prior to completing the procedures for the issuance or amendment of an Investment Registration Certificate in accordance with the law on investment, the enterprise registration dossier shall not include the copy of the Investment Registration Certificate stipulated in Clause 5, Article 20; Point c, Clause 4, Article 21; and Point c, Clause 4, Article 22 of the Law on Enterprises 2020. In such cases, the enterprise registration application must include a commitment to meet market access conditions applicable to foreign investors as prescribed by law.
What are the current rights and obligations of an enterprise?
Pursuant to Article 7 and Article 8 of the Law on Enterprises 2020 (as supplemented by Clause 2, Article 1 of the Law Amending the Law on Enterprises 2025), the current rights and obligations of an enterprise are as follows:
Rights of an enterprise
(1) Freedom to conduct business in sectors and trades not prohibited by law.
(2) Autonomy in business operations and selection of business organizational forms; initiative in selecting business sectors, trades, locations, and operational models; and initiative in adjusting business scale and scope.
(3) Selection of forms and methods for mobilizing, allocating, and utilizing capital.
(4) Freedom to seek markets and customers and to enter into contracts.
(5) Engagement in export and import activities.
(6) Recruitment, hiring, and employment of labor in accordance with the law on labor.
(7) Initiative in applying science and technology to enhance business efficiency and competitiveness; and protection of intellectual property rights in accordance with the law on intellectual property.
(8) Possession, use, and disposition of the enterprise’s assets. (9) Refuse requests from agencies, organizations, or individuals to provide resources in a manner not prescribed by law.
(10) File complaints and participate in legal proceedings in accordance with the law.
(11) Other rights as prescribed by law.
Obligations of enterprises
(1) Meet the investment and business conditions when engaging in conditional business lines or business lines subject to conditional market access for foreign investors as prescribed by law, and ensure the maintenance of such conditions throughout the course of business operations.
(2) Fully and timely fulfill obligations regarding enterprise registration, registration of changes to enterprise registration details, public disclosure of information on the enterprise’s establishment and operations, reporting, and other obligations as prescribed by this Law.
(3) Be responsible for the truthfulness and accuracy of information declared in enterprise registration dossiers and reports; promptly amend or supplement such information if any inaccuracies or omissions are discovered.
(4) Organize accounting and tax payment activities, and fulfill other financial obligations as prescribed by law.
(5) Ensure the legitimate rights and interests of employees as prescribed by law; refrain from discrimination or infringement upon the honor and dignity of employees within the enterprise; refrain from mistreatment, forced labor, or the unlawful employment of minors; support and facilitate employee participation in training to improve professional qualifications and vocational skills; and implement policies and regimes regarding social insurance, unemployment insurance, health insurance, and other forms of insurance for employees as prescribed by law.
(6) Collect, update, and maintain information regarding the enterprise’s beneficial owners; and provide information to competent state authorities to identify the enterprise’s beneficial owners upon request.
(7) Other obligations as prescribed by law.
