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Violations of regulations on enterprise establishment

At the Artcle 23, Decree 155/2013/ND-CP dated November 11, 2013, stipulating the sanction of administrative violations in planning and investment, prescribe :

1. A fine of VND 5,000,000 and VND 10,000,000 for any of the following acts:

a) Continuing to operate after the operational time stated in the Charter has ended and not allowed extension;

b) Failing to contribute the capital on schedule as registered;

2. A fine of between VND 10,000,000 and VND 20,000,000 for acts of failing to contribute enough capital as registered;

3. A fine of between VND 25,000,000 and VND 30,000,000 for one of the following acts:

a) Intentionally valuing assets to contribute capital improperly with the actual value;

b) Conducting business as enterprise after having the business registration certificate revoked or after dissolution;

c) Conducting business under form of an enterprise without the registration of enterprise establishment.

4. Remedial measures:

a) Forcible registration of operation extension, for violations specified at Point a Clause 1 of this Article;

b) Forcible registration of reducing the charter capital in accordance with regulations for the limited liability companies with two or more members or forcing to contribute full capital as registered for other forms of enterprises, for violations specified at Clause 2 of this Article;

c) Forcible revaluation of the assets contributed into capital for violations specified at Point a Clause 3 of this Article;

d) Forcible registration of enterprise establishment for violations specified at Point c Clause 3 of this Article.

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