Form of decision to establish a Multi-member LLC in Vietnam 2022
The economic development of Vietnam currently growing stronger and stronger in the modern world. Nowadays, business is very simple; all you need is a little capital, passion, experience, and capacity; Then you can start a business. A limited liability company with two or more members attracts the interest of many people. So, what is the form of decision to establish a Multi-member LLC? LSX legal firm provides this article to give you instructive information about this problem.
Decision form to establish a Multi-member LLC
A Multi-member limited liability company is an enterprise, the members can be organizations or individuals and the number of members of the company is at least two. Also, members are responsible for the debts and other asset obligations of the enterprise to the extent of the contributed capital to the enterprise. The decision form to establish a multi-member limited liability company means a form drafted based on the agreement of members (individuals or organizations) on jointly contributing capital to establish as well as operate a company under the model of a limited liability company with two or more members.
A decision form on the establishment of a multi-member LLC must contain the following contents:
- National title, motto, and date of making the decision to establish a multi-member limited liability company.
- Name of enterprise establishment decision and content of the decision.
- The basis for the decision to establish a business. When drafting this section, decision-makers may refer to the following grounds:
- Law on Enterprise 2020
- Decree 01/2020/ND-CP on Business Registration
- Minutes of the meeting No.…/…/BBH dated …/…/… of …………. About the establishment of a limited liability company with two or more members.
- Considering the needs of the parties.
- Equally important, content of the decision. The content must include the following terms: Information about the enterprise intended to establish and capital contribution ratio, business lines, organizational structure, head office, legal representative, and information about capital contributors participating in the establishment of the company.
Conditions to establish a Multi-member LLC
Firstly, the members
- The minimum number of members to establish a company is 02, and the maximum number of members must not exceed 50.
- Not falling into the cases of organizations and individuals do not have the right to establish and manage enterprises in Vietnam
Secondly, the company’s name
The Vietnamese name of an enterprise consists of two elements in the following order:
- Business types: Multi-member LLC
- Name: The business name must be written with the letters of the Vietnamese alphabet, including F, J, Z, W, numbers, and symbols. The name of this business must not overlap with that of other businesses.
Thirdly, the head office
The head office of the enterprise must locate in the Vietnamese territory. It is the contact address of the business and is identified by administrative boundaries. In addition, phone number (required); fax number, and email address (if any).
Fourthly, the business lines
Enterprises can only register their business within the scope of business lines that not prohibited by law. However, for conditional business lines, enterprises must satisfy the conditions of that lines such as having practice certificates and related legal papers.
LSX legal firm’s service on company establishment
When establishing a company, people must carry out the procedure following the law at the competent business registration authority (under the Law on Enterprise 2020). The process of establishing a business includes many different steps and phases. If you are not familiar with the law, this process may take a lot of time.
With a team of experienced, reputable, and professional consultants; The firm is always ready to support and work with clients to solve legal difficulties.
Furthermore, using our service, you do not need to do the paperwork yourself, We guarantee to help you prepare documents effectively and legally.
Also, you will not have to waste time preparing the application, submitting application, or receiving results. At those stages, we will help you do it smoothly.
After all, LSX provides the service with the desire that customers can experience it the best way. Additionally, we guarantee the cost to be the most suitable and economical for customers.
Related article
Registration of a multi-member limited liability company in Vietnam
Dossiers to establish a Single-member LLC in Vietnam
What is the organizational structure of a Multi-member LLC in Vietnam?
Related questions
Business Name: The company name must include two parts in order: Type of business + Name. Specifically, for a single-member limited liability company: “limited liability company / limited company + company name”. Firms must choose the names written by the letters of the Vietnamese alphabet, letters F, J, Z, W, numbers, and symbols.
Head office: The head office of the enterprise must locate in the Vietnamese territory. It is the contact address of the business and is identified by administrative boundaries. In addition, phone number (required); fax number, and email address (if any).
Owner: The owner of a single-member limited liability company may be an individual or an organization. However, such individual or organization must have full capacity for civil acts and not prohibited by the State from establishing or joining an enterprise.
Business line: enterprises are only allowed to register their business within the scope of business lines which are not prohibited by law. However, for conditional business lines, enterprises must have practice certificates and related legal papers.
Charter capital: The capital to establish an enterprise must be suitable to the business line and scale of the enterprise. For enterprises with business lines requiring legal capital, the charter capital must not be lower than the legal capital.
The trademark protection title valid from the date of issue to the end of 10 years from the filing date. When it expires, the owner can extend it further, without limiting the number of extensions.
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