Establishing a science and technology company 2022

ASLAW

Establishing a science and technology company 2022

Unlike other types of companies, the establishment of a science and technology (S&T) company needs to meet specific conditions. With its own particularity that the company directly conducts scientific research and technology development activities, its products can be tangible or intangible. What requirements should be met when establishing a science and technology company? Below is detailed information on the conditions, documents, and processes for certifying a science and technology company according to current regulations.

Science and technology have penetrated deeper and deeper into people’s lives and it has helped people to have outstanding developments in labor productivity, quality, and quantity of goods. It can be said that the development of science and technology will bring high productivity to the fields of agriculture and aquaculture thanks to the improvement of new varieties and the use of machinery in harvesting; At the same time, science and technology brings automation by automatic lines in industries, freeing people from hard manual labor and still ensuring the output of welding goods produced each year.

A science and technology company means a company that directly conducts scientific research and technological development activities as well as production and business activities of all kinds of products from the results of such scientific research and technological development. Business products of science and technology companies are tangible or intangible products. Due to the special nature of products in this business field, the establishment of science and technology company has differences and certain special conditions.

All you need to know about Terms and Conditions in Technology Contracts
Establishing a science and technology company 2022
  • Decree No. 13/2019/ND-CP dated February 1, 2019 of the Government on science and technology company.
  • Circular No. 10/2021/TT-BKHCN dated November 17, 2021 of the Ministry of Science and Technology stipulating measures to implement a number of articles of Decree No. 13/2019/ND-CP dated February 1, 2019 of the Government on science and technology company.

Who can establish science and technology conpany?

  • company established and operating in accordance with Vietnamese law and performing production, business and services from scientific and technological results;
  • Other organizations and individuals related to the certification of science and technology company and the implementation of preferential policies and State support for science and technology company.

Organizations and individuals compile business registration dossiers according to the provisions of the Law on company to establish the company and make business registration at the competent business registration agencies.

After being established, the company shall compile a dossier of registration for the certificate of a science and technology company and submit it to the Department of Science and Technology of the locality where the company is headquartered for consideration and issuance of the company certificate. science and technology.

Conditions for establishing a science and technology company

Vietnam has had special preferential policies to encourage the establishment of science and technology companies. Thereby, it creates momentum for the company to develop to promote development in other fields by applying modern scientific and technological achievements to production, business, and social life.

To establish a science and technology company, such company must meet the following conditions:

Individuals or organizations that establish science and technology companies must not only complete the invention, but also master the results from that invention, and master science and technology companies must legally use and have appropriate ownership of the technologies they create to develop into the production of products in areas such as:

  • Development of information technology software: such as security, anti-virus, software design, etc in the field of information technology
  • Developing biotechnology for the following industries: Aquaculture, Agriculture, Health…
  • Developing production automation lines, automatic robots, high-tech machines, etc. to improve productivity and product quality, in the field of automation.
  • Developing nanotechnology, covering car exteriors, household appliances, anti-scratch and limiting bacteria, etc developing more advanced and convenient nano sprayers, more durable; In addition, it is necessary to search for new materials that are more suitable for the environment, Vietnam’s weather, reduced costs, etc in the field of new material technology.
  • Developing technologies such as biodegradable paper bags to replace nylon, herbicides, insecticides that are not dangerous to the environment, etc. in the field of environmental protection technology.
  • Developing and using clean energy sources such as solar energy, biofuels to replace gasoline, low smoke, etc. in the field of new energy technology.
  • Developing satellites launched into space, researching models of spacecraft… belonging to space technology.
  • After meeting the above conditions, individuals or organizations who want to register to establish a science and technology company can prepare a set of documents to submit directly to the Department of Science and Technology for a certificate. get activity.

The company falls into one of two cases:

Having the capacity to create scientific and technological results that are assessed, appraised, and recognized by competent agencies according to regulations. The ability to create scientific and technological results is reflected in the self-research, development, improvement, and production of scientific and technological results by the company that is evaluated, appraised, and recognized by competent authorities.

Having the ability to apply scientific and technological results, which are assessed, appraised, and recognized by competent agencies according to regulations. It is reflected in the company ensuring that the necessary conditions (specified in Form No. 02 in the Appendix issued together with Decree No. 13/2019/ND-CP) to deploy the applications into production and business activities of the company.

Satisfy the condition of turnover ratio.

For a company that has been established for full 5 years or more: a company whose revenue from the production and trading of products formed from scientific and technological results reaches at least 30% of total revenue.

The determination of the turnover ratio for granting the certificate of science and technology company: the company declares itself in the application for the certificate of science and technology company (it can be declared according to the business results of the quarter or five). In addition, the company is responsible for the accuracy and legality of the information. The management agency based on the report on the production and sales of the formed products, which is based on the annual scientific and technological results of the company, performs the management and review. Thereby, the agency ensures the company maintains the conditions for certification of science and technology company.

For newly established businesses less than 5 years old: there is no need to meet the conditions on turnover ratio.

Dossier of application for certification of a science and technology company

Dossier of application for certification of a science and technology company includes:

a) An application for certification of a science and technology company is made according to form No. 01 in the Appendix to this Decree;

b) A written certification and recognition of scientific and technological results by a competent authority (a copy to be presented with the original for comparison or a certified true copy), in one of the following documents:

  • Diploma of protection of intellectual property rights;
  • Decision on recognition of new plant varieties, new livestock breeds, new aquatic varieties, new forestry plant varieties and technical advances;
  • Certificate of award for the performance of tasks that have won prizes in science and technology, presided over by competent state agencies, coordinated in organizing awarding or giving consent organizing the awarding of prizes;
  • Decision on recognition of results of performance of scientific and technological tasks funded with the state budget or Certificate of registration of results of performance of scientific and technological tasks funded with the state budget; Certificate or certificate of appraisal of results of performing scientific and technological tasks without using the state budget;
  • Certificate of registration of technology transfer;
  • Other certifications and recognition documents with equivalent legal validity.

c) Plan for production and trading of products formed from scientific and technological results, made according to form No. 02 in the Appendix to this Decree.

Appraisal of dossiers and grant of certificates of science and technology company

  • Within 03 working days from the date of receipt of the application for certification of a science and technology company, the agency competent to issue the Certificate of science and technology company must reply to the company about the validity of the dossier, clearly stating the documents, contents to be amended and supplemented and the time limit for amendment and supplementation if the dossier is not valid.
  • Within 10 working days from the day on which the valid application is received, the Department of Science and Technology shall evaluate the application and decide whether to grant or refuse to grant the Certificate of Science and Technology Company.
  • In case the scientific and technological results are related to many different industries and fields, it is necessary to invite experts or set up an advisory council. The time limit for granting the Certificate of science and technology company shall not exceed 15 working days from the date of receipt of valid dossiers.
  • In case the Department of Science and Technology has not yet met the technical conditions to evaluate the results of science and technology, within 05 working days, the Department of Science and Technology is responsible for sending an official dispatch enclosed with all dossiers. The company’s application file for the Certificate of Science and Technology Company shall be sent to the Department of Market Development and Science and Technology Company for issuance of the Certificate of Science and Technology Company.
Register now Contact us for a consultation
CONTACT ASLAW FOR ADVICE

Contact

  • ASLAW
  • 0914195266
  • 0914195266

    View more posts
    ASL LAW – Legal Partner in Business Consultation and Dispute Resolution

    ASL LAW – Legal Partner in Business Consultation and Dispute Resolution

    In the journey of business development, facing disputes is unavoidable. The crucial aspect is how we effectively and professionally resolve these disputes. ASL LAW has emerged as a reliable guide in the field of business consultation and dispute resolution. Understanding […]

    Tax and Financial Policies for Businesses in Vietnam

    Tax and Financial Policies for Businesses in Vietnam

    Vietnam employs a diverse tax system with various regulations and separate policies for Vietnamese businesses. This creates a complex legal framework, demanding a deep understanding from businesses to comply with tax obligations when operating in Vietnam. The following article will […]

    Compliance with Financial Standards for Vietnamese Businesses

    Compliance with Financial Standards for Vietnamese Businesses

    Compliance with financial standards is crucial for Vietnamese businesses to protect their reputation and avoid administrative penalties while operating. I. Financial Reporting According to Industry Specifics In Vietnam, businesses operating in various sectors often have unique characteristics, leading to diversity […]

    CONTACT ASLAW