Buying a Car Under a Company Name in Hanoi: A Comprehensive Guide

Buying a car under a company name in Hanoi has different procedures compared to individual purchases. This guide provides a detailed walkthrough of the process, procedures, and important considerations when purchasing a vehicle for your business.

Required Documents for Buying a Car Under a Company Name

To ensure a smooth purchase process, you need to prepare all necessary legal documents for your company and personal identification documents for the representative. Below is a list of required documents:

Company Legal Documents:

• Business Registration Certificate (certified copy)
• Company Establishment Decision (if applicable)
• Company Charter (certified copy)
• Tax Identification Number Certificate (certified copy)
• Most recent annual financial report (if applicable)

Representative’s Personal Documents:

• Citizen Identity Card/ID Card (certified copy)
• Household Registration Book/Temporary Residence Confirmation (certified copy)
• Power of Attorney (if the purchaser is not the legal representative of the company)

Car Purchase Process for Companies

Step 1: Choose a Car and Dealership

Determine the type of vehicle, model, and a reputable dealership. Compare prices, after-sales services, and warranty policies between dealerships before making a final decision.

Step 2: Sign the Car Purchase Agreement

After selecting your desired vehicle, sign a purchase agreement with the dealership. The contract should clearly state information about the buyer, seller, vehicle details, selling price, payment method, delivery time, and other terms.

Step 3: Payment and Vehicle Delivery

Choose between direct payment or installment plans. After completing the payment, you will receive all vehicle documents from the dealership.

Step 4: Vehicle Registration and Tax Payment

After receiving the vehicle, register it at the traffic police department and pay the registration tax as required.

Advantages and Disadvantages of Buying a Car Under a Company Name

Advantages:

• VAT deduction on vehicle purchase
• Inclusion in company operating expenses
• Enhanced company image and prestige

Disadvantages:

• More complex procedures than individual purchases
• Higher registration and tax costs
• Difficulties in transferring vehicle ownership

Important Considerations When Buying a Car Under a Company Name

• Choose a reputable dealership to ensure vehicle quality and excellent after-sales service.
• Carefully review the purchase agreement before signing.
• Keep all invoices and documents related to the purchase for future tax declaration purposes.
• Consult with a lawyer or consultant regarding legal matters related to buying a car under a company name.

Conclusion

While the process of buying a car under a company name is more complex than individual purchases, it offers numerous benefits for businesses. This article has hopefully provided useful information about the process and procedures involved.

Frequently Asked Questions

1. Can a newly established company buy a car under its name?

Answer: Yes, but the company needs to demonstrate financial capacity and the purpose of using the vehicle for business operations.

2. What are the procedures for buying a car under a company name with an installment plan?

Answer: In addition to the procedures for outright purchases, you need to submit loan application documents as required by the bank or credit institution.

3. What is the deadline for registering a car under a company name?

Answer: According to current regulations, the deadline for registering a new car is 60 days from the date of purchase.

4. Can a car under a company name be sold to an individual?

Answer: Yes, but the transfer procedures must comply with legal regulations.

5. What is the registration tax rate for buying a car under a company name?

Answer: The registration tax rate depends on the specific location and vehicle type.

Have More Questions?

Contact us at Phone Number: 0968239999, Email: [email protected] Or visit us at: TT36 – CN9 Road, Tu Liem Industrial Zone, Phuong Canh Ward, Nam Tu Liem District, Hanoi. We have a 24/7 customer service team.