Since July 1, 2025, businesses in Vietnam have been required to use an electronic identification (e-ID) account to carry out administrative procedures and online transactions. This is no longer optional - it is a mandatory condition for being "permitted to operate" in the digital environment. Through VNeID, businesses can verify their legal status, work with government agencies and process documents in just a few minutes. But how do you complete business identification correctly and quickly, without errors? This article will walk you through everything from A to Z.
What is business identification?
Business identification is the process of establishing an official electronic identity for a company within the national data system. This identity includes:
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Business registration number
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Tax code
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Legal information
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Legal representative
Under Decree 69/2024/ND-CP, electronic identification is the foundation for verifying businesses in all digital transactions.
More importantly, starting July 1, 2025:
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Old accounts on the Public Service Portal will become invalid
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Businesses are required to use an electronic identification account to operate
This means: No identification = no ability to operate on the national digital system.
This marks the shift from "traditional business" to "digital business."
Why are businesses required to complete identification starting in 2025?
The identification mandate is not arbitrary - it stems from three major government objectives:
1. Increasing market transparency
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Eliminating "shell" businesses
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Preventing fraud
2. Synchronizing national data
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Connecting tax, banking and insurance systems
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Automating processes
3. Driving the digital economy
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Reducing operating costs
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Speeding up transaction processing
Under the regulation, from July 1, 2025, businesses without identification will be unable to submit documents online and may be blocked from accessing the e-tax system. This is not merely an administrative rule - it functions as a "filter" for businesses in the digital era.
What benefits does business identification bring?
When implemented properly, business identification delivers substantial benefits:
Faster operations
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Procedures processed in minutes
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No paper documentation required
Greater trustworthiness
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Clear legal verification
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Easier contract signing
Expanded financial opportunities
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Easier access to bank loans
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Increased credibility with investors
Connection to the digital ecosystem
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Tax, insurance and customs integration
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Cross-border transactions
Businesses that complete identification early gain a competitive advantage in the market.
What is business identification for? 5 practical benefits businesses gain
Many businesses assume identification is purely a legal requirement. In reality, its value goes far beyond that.
1. Faster processing of business tasks
Instead of preparing paper documents and making multiple in-person visits, businesses can complete procedures entirely online - cutting processing time from several days down to just minutes in many cases.
2. Improved legal safety
When business information is verified within the national system, transactions become more transparent and trustworthy, reducing the risk of disputes and errors.
3. Better access to capital
Banks and investors favor businesses with transparent records. Electronic identification helps businesses demonstrate legitimacy and reliability, making it easier to access funding.
4. Expanded partnership opportunities
In todays business environment, credibility matters. Businesses with clear identification build trust with partners more easily, especially in large transactions.
5. A foundation for comprehensive digital transformation
Identification is the first step toward adopting digital solutions such as e-contracts, digital signatures and online business management.
Identification doesnt directly generate revenue, but its a key factor that helps businesses earn money faster and more sustainably.
Step-by-Step guide to business identification via VNeID
Businesses can now complete identification through VNeID via a relatively straightforward process.
Step 1: Prepare documentation
Businesses need to prepare the following information and documents:
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Business registration certificate
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National ID card of the legal representative
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Tax code
All information must be accurate and match the data already on file.
Step 2: Log into the system
The legal representative uses a verified personal account to log into VNeID. This step is essential to ensure the legal validity of the registration process.
Step 3: Register for business identification
On the main interface, select "Organization Identification" and enter the required business information in full.
Step 4: Verify data
The system automatically cross-checks the information against the national database. If discrepancies are found, the business will be asked to make corrections.
Step 5: Activate the account
Once the information is confirmed, the business is issued an electronic identification account and can begin using it immediately.
Processing time:
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Standard: 1–3 days
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Faster if data is already standardized
Important notes:
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Information must be 100% accurate
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The legal representative must have proper legal standing
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Double-check everything before submission
Tip: Standardizing your data before registering saves time and reduces the risk of rejection.
What risks do unidentified businesses face?
Many businesses are underestimating this risk.
In reality, without identification, a business:
Cannot complete administrative procedures
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Cannot submit documents online
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Cannot register for licenses
Faces financial disruption
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Cannot access the e-tax system
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Struggles with banking transactions
Loses business opportunities
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Ineligible for bidding processes
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Risks being rejected by partners
This is a "silent risk" - but an extremely dangerous one.
Hoang Quan Appraisal - turning "identification" into a business value advantage
Completing identification only gets a business legally recognized. To go further - to borrow more easily and attract investment more effectively - one more critical factor is needed: an accurate and complete valuation of the business.
In practice, many businesses lose opportunities simply because:
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Their asset value is underestimated
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Their financial records arent optimized
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They lack a proper valuation basis when working with banks
Hoang Quan Appraisal is the solution to help you "unlock" your true value:
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Standardize documentation for loans, M&A and bidding
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Boost credibility with banks and investors
Hoang Quan Appraisal doesnt stop at numbers - it helps turn value into a genuine competitive advantage.
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Register for free valuation consulting today
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Receive your valuation report within 24 hours
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Check now: is your business being undervalued?
Hoang Quan Appraisal Company Limited
Address: Hoang Quan Appraisal System
Phone: 0934.252.707
Email: contact@sunvalue.vn
Facebook: Hoang Quan Appraisal
Website: hqa.com.vn
Conclusion
Business identification is a mandatory step for businesses to survive and thrive in the digital era. Acting early helps you avoid risk, save time and gain a competitive edge. However, to make the most of this value, businesses need to take one more step: accurately valuing their own capabilities. In an increasingly competitive market, a business must not only be legally compliant but also strong enough to grow sustainably. And the best action to take is to start today.
