Setting up a social enterprise is a unique journey that blends business acumen with a strong commitment to societal betterment. Warren B is here to guide you through the intricate process of setting up a company in Vietnam, particularly a social enterprise, ensuring you understand every aspect of this vital venture.
I. General Overview of Setting Up a Social Enterprise
1. Definition of a Social Enterprise
A social enterprise stands out for balancing profit-making with social, environmental, and community objectives. It’s not just about financial gain; it’s about addressing societal issues, enhancing community living standards, and advocating for environmental protection.
These enterprises serve as a crucial link between commercial pursuits and community service, prioritizing social value alongside profitability. This dual focus fosters sustainable development and societal progress.
2. Characteristics of Social Enterprises
- Registration in compliance with Vietnamese Business Law.
- Aiming to resolve social and environmental challenges.
- Committing at least 51% of annual after-tax profits to reinvest in their social objectives.
- Social Product/Service Model
- Community Cooperation and Development Model
- Social Financial Model
- Social Support Model
II. Essential Conditions for Setting Up a Social Enterprise
Understanding the conditions for setting up a social enterprise in Vietnam is critical for entrepreneurs aiming to embark on this path.
To successfully set up a social enterprise, one must:
- Have explicit social objectives linked to addressing societal issues, environmental conservation, and improving societal quality of life.
- Implement unique operational methods that align with the enterprise’s social missions.
- Develop an organizational structure that enhances effective, transparent operations.
- Adhere to Vietnamese legal and regulatory requirements to ensure lawful and socially responsible operations.
- Secure adequate financial resources for initial setup and ongoing operations.
In summary, meeting these conditions and complying with legal norms is essential for the sustainable and socially valuable operation of your enterprise.
III. Procedures for Setting Up a Company in Vietnam
The steps to establish a business include:
Step 1: Preparation of Documents
- Application for social enterprise registration.
- Social enterprise charter, endorsed by founders.
- List of founders or shareholders.
- Authorization letter (if applicable).
- Notarized ID/Passport copies of owners, contributors, or shareholders.
Step 2: Application Submission
- Direct submission at the Registration Office.
- Online submission through the Business Registration portal.
Step 3: Application Review
- The business registration authority will evaluate and respond to your application.
Additionally, Warren B offers services like changing business registration details, temporary business suspension, and company dissolution. For convenience, visit Warren B’s webapp to register your company online in just 10 minutes. Complete all steps online, and receive your documentation via email promptly. For more detailed information or inquiries, contact Warren B at (+84) 915 704 883.
We thank you for considering setting up a social enterprise in Vietnam with Warren B’s guidance!