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Company involving foreign elements in Vietnam
BusinessLegal service

Company involving foreign elements in Vietnam

by Quang Minh
written by Quang Minh

Foreign-invested company means an enterprise established in accordance with the laws of Vietnam. It is established by investors who are foreign individuals or organizations or contributed capital to carry out business activities in Vietnam. Nowadays, the Vietnamese economy and government maintain a very open regime to attract foreign investors. However, they might not have a full understanding of the foreign-invested company. So, in this article, LSX legal firm provides: “Company involving foreign elements in Vietnam”

  • Law on Investment 2020
  • Law on Enterprise 2020

Foreign investors and investment activities in Vietnam

The investment law of Vietnam defines the following terms:

“foreign investor” means an individual holding a foreign nationality or an organization established under foreign laws and carrying out business investment activities in Vietnam.

“business entity” means an entity established and operating in accordance with Vietnam’s laws. Business entities include enterprises, cooperatives, cooperative unions, and other entities that carry out business investment activities.

“foreign-invested business entity” means an entity whose members or shareholders are foreign investors.

At present, there are 4 main types of investing activities in Vietnam:

1. Investment in the establishment of a business entity.

2. Investment in the form of capital contribution or purchase of shares or stakes.

3. Execution of an investment project.

4. Investment in the form of a business cooperation contract.

A company involving foreign elements may appears from the investment in the establishment of a business entity or the investment in the form of capital contribution or purchase of shares or stakes.

Investment in establishment of a business entity

Every foreign investor has the right to establish a business entity in accordance with the following regulations:

  • A foreign investor that establishes a business entity shall satisfy market access conditions applied to foreign investors specified in Article 9 of the Law on Investment 2020.
  • Before establishing a business entity, the foreign investor must have an investment project and follow the procedures for issuance or adjustment of an investment registration certificate, except for the establishment of a small and medium-sized start-up enterprise and a startup investment fund in accordance with the regulations of the Law on Small and Medium-sized Enterprises.

From the date on which the enterprise registration certificate or an equivalent document is issued, the business entity established by a foreign investor shall be the investor that executes the investment project set out in the investment registration certificate.

The rights to establish, contribute capital, buy shares/stakes and manage enterprises

Article 17 of the Law on Enterprises provides for cases not eligible to open and manage a business in Vietnam:

Article 17. The rights to establish, contribute capital, buy shares/stakes and manage enterprises

2. The following organizations and individuals do not have the right to establish and manage enterprises in Vietnam:

a) State authorities, People’s armed forces using state-owned assets to establish enterprises to serve their own interests;

b) Officials and public employees defined by the Law on Officials and the Law on Public Employees;

c) Commissioned officers, non-commissioned officers, career military personnel, military workers and public employees in agencies and units of Vietnam People’s Army; commissioned officers, non-commissioned officers and police workers in police authorities and units, except for those designated and authorized representatives to manage state-owned stakes in enterprises or to manage state-owned enterprises;

d) Executive officers and managers of state-owned enterprises prescribed in Point a Clause 1 Article 88 of this Law, except those who are designated as authorized representatives to manage state-owned stakes in other enterprises;

dd) Minors; people with limited legal capacity; incapacitated people; people having difficulties controlling their behaviors; organizations that are not juridical persons;

e) People who are facing criminal prosecution, kept in temporary detention, serving an imprisonment sentence, serving an administrative penalty in a correctional institution or rehabilitation center, has limited legal capacity or is incapacitated, is not able to control his/her own behaviors, is banned by the court from holding certain positions or doing certain works; other cases prescribed by the Law on Bankruptcy and the Anti-corruption Law.

If requested by the business registration authority, the applicant shall submit the judicial records;

g) Juridical persons that are banned from business operation or banned from certain fields as prescribed by the Criminal Code.

Investment activities of foreign-invested businesses

Article 23 of the Law on Investment 2020 regulates the investment activities of foreign-invested businesses as follows:

Article 23. Conduct of investment activities by foreign-invested business entities

When establishing a business entity, when making an investment by contributing capital, purchasing shares or purchasing stakes of a business entity, or when making an investment under a business cooperation contract in one of the following cases, the foreign investor must satisfy the conditions and follow investment procedures applied to foreign investors:
a) Over 50% of its charter capital or more is held by a foreign investor(s) or the majority of the general partners are foreigners if the business entity is a partnership;
b) Over 50% of its charter capital or more is held by a business entity(ies) mentioned in Point a of this Clause;
c) Over 50% of its charter capital or more is held by a foreign investor(s) and a business entity(ies) mentioned in Point a of this Clause.
Business entities other than those mentioned in Points a, b, and c Clause 1 of this Article shall satisfy conditions and follow investment procedures applied to domestic investors when establishing a business entity, when making an investment by contributing capital, purchasing shares, or purchasing stakes of a business entity or when making investment under a business cooperation contract.
If a foreign-invested business entity that is established in Vietnam has a new investment project, procedures for executing such investment project shall be followed without having to establish a new business entity.
The Government shall elaborate procedures for establishing business entities and conduct of investment activities by foreign investors and foreign-invested business entities.

Thus, if the investor falls into Clause 1 of this Article, the investor must carry out the procedures for the issuance of an Investment Registration Certificate.

Contributing capital, purchasing shares or purchasing capital contributions

Contributing capital, purchasing shares, or purchasing capital contributions

Investors have the right to contribute capital, purchase shares, or purchase stakes of business entities.

Foreign investors making investment by contributing capital, purchasing shares and purchasing stakes of business entities must:

  • Firstly, satisfy market access conditions applied to foreign investors as prescribed in Article 9 of the Law on Investment 2020.
  • Secondly, ensure national defense and security in accordance with the Law on Investment.
  • Thirdly, comply with regulations of the law on land and conditions for receipt of land use rights and conditions for use of land on islands or border or coastal communes.

Forms of capital contribution or purchase of shares 

Article 25. Forms of capital contribution or purchase of shares or stakes

A foreign investor may contribute capital to a business entity in the following forms:
a) Purchase of shares of joint-stock companies through the initial public or additional issuance;
b) Contribution of capital to limited liability companies and partnerships;
c) Contribution of capital to other business entities not mentioned in Point a and Point b of this Clause.
A foreign investor may purchase shares or stakes of a business entity in the following forms:
a) Purchase of shares in a joint-stock company from such company or its shareholders;
b) Purchase of stakes of members of a limited liability company to become a member of such limited liability company;
c) Purchase of stakes of a capital contributing member of a partnership to become a capital contributing member of such partnership;
d) Purchase of stakes of members of other economic entities not mentioned in Points a, b, and c of this Clause.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

The above content details information regarding “Company involving foreign elements in Vietnam”. LSX Legal Firm has provided effective legal guidance to businesses and individuals with reasonable prices as well as efficient outcomes in recent years. Following legal principles, we always update and keep our operations and services on track with the law. If you need any further information from the firm’s solicitors, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

See more

Regulations of Vietnam law in case of winning bid against regulations

Procedure to open a foreign company in Vietnam

How long does it take to start a foreign-invested company in Vietnam?

Frequently asked questions

How long does it take to issue a business registration certificate?

Within 03 working days from the receipt of the satisfactory application., the Business Registration Office shall issue the enterprise registration certificate and certificate of changes to enterprise registration information and update enterprise registration information on the National Enterprise Registration Database.

How long does it take to issue an investment registration certificate?

It takes 15 days if the application for investment registration satisfies the law’s conditions and does not need to amendment or modification.

If the purchase of shares increases the ownership ratio, does the foreign investor have to register the purchase of shares?

The capital contribution or purchase of shares or stakes increases the ownership ratio by foreign investors in a business entity conducting business in the business lines allowed in the market with conditions applied to foreign investors.

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How long does it take to start a foreign-invested company in Vietnam?
BusinessLegal service

How long does it take to start a foreign-invested company in Vietnam?

by Quang Minh
written by Quang Minh

To encourage foreign investment, the Vietnamese government now maintains a number of favorable policies for international investors when conducting business in Vietnam. As a result, Vietnam is seeing an increase in the number of foreign-invested businesses. On the other hand, foreign investors need to have an insight into Vietnamese law to start investments. First of all, to open and run a company, they have to apply for two kinds of certificates. In this article, LSX legal firm provides: “How long does it take to start a foreign-invested company in Vietnam?”

  • Law on Investment 2020
  • Decree 31/2021/ND-CP

Foreign investor and Foreign-invested company

“foreign investor” means an individual holding a foreign nationality or an organization established under foreign laws and carrying out business investment activities in Vietnam.

“foreign-invested business entity” means an entity whose members or shareholders are foreign investors.

Investment in the establishment of a business entity

Every investor shall establish a business entity in accordance with the following regulations:

  • A domestic investor shall establish a business entity in accordance with regulations of law on enterprises and law corresponding to each type of business entity.
  • A foreign investor that establishes a business entity shall satisfy market access conditions applied to foreign investors specified in Article 9 of the Law on Investment 2020.
  • Before establishing a business entity, the foreign investor must have an investment project and follow the procedures for issuance or adjustment of an investment registration certificate, except for the establishment of a small and medium-sized start-up enterprise and a startup investment fund in accordance with the regulations of the Law on Small and Medium-sized Enterprises.

From the date of issuance of a company registration certificate or an equivalent document, the business entity established by a foreign investor become the investor that executes the investment project set out in the investment registration certificate.

Investment activities of foreign-invested company

Article 23 of the Law on Investment 2020 regulates the investment activities of foreign-invested company as follows:

Article 23. Conduct of investment activities by foreign-invested business entities

When establishing a business entity, when making an investment by contributing capital, purchasing shares or purchasing stakes of a business entity, or when making an investment under a business cooperation contract in one of the following cases, the foreign investor must satisfy the conditions and follow investment procedures applied to foreign investors:
a) Over 50% of its charter capital or more is held by a foreign investor(s) or the majority of the general partners are foreigners if the business entity is a partnership;
b) Over 50% of its charter capital or more is held by a business entity(ies) mentioned in Point a of this Clause;
c) Over 50% of its charter capital or more is held by a foreign investor(s) and a business entity(ies) mentioned in Point a of this Clause.
Business entities other than those mentioned in Points a, b and c Clause 1 of this Article shall satisfy conditions and follow investment procedures applied to domestic investors when establishing a business entity, when making an investment by contributing capital, purchasing shares, or purchasing stakes of a business entity or when making investment under a business cooperation contract.
If a foreign-invested business entity that is established in Vietnam has a new investment project, procedures for executing such investment project shall be followed without having to establish a new business entity.
The Government shall elaborate procedures for establishing business entities, and conduct of investment activities by foreign investors and foreign-invested business entities.

Procedure for applying for Investment Registration Certificate

The investor shall submit 01 application for the Investment Registration Certificate, including the contents specified in Clause 1, Article 33 of the Law on Investment, to the investment registration agency. In case the investment project is implemented in 02 or more provincial-level administrative units, the investor shall submit a dossier to the Department of Planning and Investment of a province or centrally run city where the investor implements an investment project, locates or plans to set up an executive office to apply for an investment registration certificate for the project.

The investment registration authority shall issue the Investment Registration Certificate to the investor within 15 days from the date of receipt of a valid dossier when the project meets the following conditions:

  • Not in an industry or trade prohibited from doing business as prescribed in Article 6 of the Law on Investment and an international treaty on investment.
  • Having the location of the investment project determined on the basis of a valid copy of the land use right document or a valid copy of the location lease agreement or other documents defining the right to use the location for the implementation of the investment project.
  • The investment project conforms to the planning prescribed in Clause 7 Article 31 of this Decree.
  • Satisfy the conditions on investment rate on a land area prescribed by the provincial People’s Committee based on the actual conditions of the locality and approved by the Standing Committee of the Provincial People’s Council (if any); the number of employees employed (if any).
  • Satisfying the market access conditions for foreign investors.

For an operating investment project, the investor shall submit a dossier as prescribed in Clause 1, Article 33 of the Law on Investment, replacing the investment project proposal with a report on the implementation of the investment project from the time of implementation to the time of application for the Investment Registration Certificate.

Time limit for the issuance of company registration certificate

Article 33 of Decree 01/2021/ND-CP stipulates:

Article 33. Time limit for issuing enterprise registration certificate and certificate of changes to enterprise registration information

The Business Registration Office shall issue the enterprise registration certificate and certificate of changes to enterprise registration information, and update enterprise registration information on the National Enterprise Registration Database within 03 working days from the receipt of the satisfactory application.
If the application is not satisfactory or the enterprise’s name is not conformable with regulations, the Business Registration Office shall inform the enterprise or its founder of necessary revisions within 03 working days from the receipt of the application. The Business Registration Office must include every necessary revision to the application in a notification.
After the aforementioned deadline, if the enterprise registration certificate or certificate of changes to enterprise registration information is not issued or enterprise registration information on the National Enterprise Registration Database is not changed, or no notification of necessary revisions to the application for enterprise registration is received, the enterprise or its founder is entitled to lodge a complaint as prescribed by regulations of law on complaints and denunciation.

How long does it take to start a foreign-invested company in Vietnam

To establish a foreign-invested company, investors need to perform 2 basic steps: investment registration and business registration. According to the above-mentioned regulations, the time for business registration as prescribed is 3 days and the time for investment registration is 15 days if the application is valid and does not need to be modified. So, it takes 18 days according to the law to set up a foreign-invested company. However, in reality, this time may extend to about 20 to 30 days to establish a foreign-invested company.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

The above content details information regarding “How long does it take to start a foreign-invested company in Vietnam?”. LSX Legal Firm has provided effective legal guidance to businesses and individuals with reasonable prices as well as efficient outcomes in recent years. Following legal principles, we always update and keep our operations and services on track with the law. If you need any further information from the firm’s solicitors, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

See more

Regulations of Vietnam law in case of winning bid against regulations

Cases of land lease with annual payment in Vietnam

In case the company’s head office address is located in an apartment building in Vietnam

Frequently asked questions

What is investment project ID?

An investment project ID is a series of numbers automatically generated by the National Investment Information System and recorded in the Investment Registration Certificate. Each investment project assigned a unique code, which exists during the project’s operation and expires when the project terminates its operation.

Conditions on online submissions of investment registration dossier?

Firstly, having sufficient documents with fully declared contents as prescribed for paper dossiers, presented in the form of electronic documents and named corresponding to the name of the type of paper.
Secondly, the information declared on the System is complete and accurate according to the information in the paper file; authenticated by the investor’s digital signature or uniformly compared with the paper documents.

How long does it take to change the name of an investment project?

In case the adjustment of an investment project involves the change of the name of the investment project or the name of the investor in the Investment Registration Certificate, the investor shall submit a written request for adjustment of the investment project to the Investment Registration Authority accompanied by documents related to the change of the name of the investment project, the name of the investor. Then, within 03 working days after receiving the written request for adjustment of the Investment Registration Certificate, the Investment Registration Authority shall amend the Investment Registration Certificate for the investor.

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Forms of trademark registration for foreigner in Vietnam
BusinessLegal service

Forms of trademark registration for foreigner in Vietnam

by Quang Minh
written by Quang Minh

In the process of international trade, foreign legal entities and investors pay great attention to trademarks. When participating in a foreign market, many disputes can arise from trademark relations, resulting in losses for the owners. On this background, a protection title is the only way to protect their products sufficiently. In this article, LSX would like to give you an insight into: “Forms of trademark registration for foreigner in Vietnam”

  • Law on Intellectual Property 2005, amended 2019
  • Circular 01/2007/TT-BKHCN

Rights to register trademark under the Law on Intellectual Property

Article 87. Right to register marks

  1. Organizations or individuals shall have the right to register marks to be used for goods they produce or services they provide.
  2. Organizations or individuals lawfully trading in products produced by others shall have the right to register marks for such products, provided that the producers neither use such marks for their products nor object to such registration.
  3. Collective organizations lawfully established shall have the right to register collective marks to be used by their members under the regulations on use of collective marks. For signs indicating geographical origins of goods or services, organizations having the right to register them shall be collective organizations of organizations or individuals engaged in production or trading in relevant localities.
  4. Organizations with the function of controlling and certifying quality, properties, origin, or other relevant criteria of goods or services shall have the right to register certification marks, provided that they are not engaged in production or trading of such goods or services.
  5. Two or more organizations or individuals shall have the right to jointly register a mark to become its co-owners on the following conditions:
    a/ Such mark is used in the names of all co-owners or used for goods or services which are produced or dealt in with the participation of all co-owners;
    b/ The use of such mark causes no confusion to consumers as to the origin of goods or services.
  6. Persons having the registration right defined in Clauses 1, 2, 3, 4, and 5 of this Article, including those having filed registration applications, may assign the registration right to other organizations or individuals in the form of written contracts, bequeathal or inheritance according to law, provided that the assigned organizations or individuals satisfy the respective conditions on the persons having the registration right.
  7. For a mark protected in a country being a contracting party to a treaty which prohibits the representative or agent of a mark owner to register such mark and to which the Socialist Republic of Vietnam is also a contracting party, then such representative or agent shall not be permitted to register such mark unless it is so agreed by the mark owner, except where a justifiable reason is available.

The above provision does not distinguish foreign subjects from Vietnamese subjects. In explanation, foreigners and foreign legal entities have full right to register trademark in Vietnam.

Protection title of trademark

After applying for trademark registration successfully, the applicant shall receive a certificate of trademark registration for the registered mark. As a result, the law will protect the mark as well as the owner by its protection title.
Protection titles shall have their validity throughout the Vietnamese territory.
Certificates of registered marks shall have a validity starting from the grant date.

Renewal of trademark

It will expire at the end of 10 years after the filing date. The owner can renew it for many consecutive terms, each of 10 years.
In order to have the validity of a certificate of registered mark prolonged, its owner shall have to pay a validity prolongation fee. The government shall provide the fee rates and procedures for maintaining or prolonging the validity of protection titles.

Termination of validity of protection titles

Cases of terminating the validity of protection title:
a/ Its owner fails to pay the validity maintenance or prolongation fee as prescribed;
b/ Its owner declares to relinquish the industrial property rights;
c/ Its owner no longer exists or the owner of a certificate of registered mark no longer engaged in business activities without any lawful heir;
d/ The owner or his/her licensee do not use the mark without justifiable reasons for 5 consecutive years before a request for termination of validity, except where the use commenced or resumed at least 3 months before the request for termination;
e/ The owner of a certificate of registered collective mark fails to supervise or ineffectively supervises the implementation of the regulation on use of collective marks;
f/ The owner of a certificate of registered certification mark violates the regulation on use of certification marks or fails to supervise or ineffectively supervises the implementation of such regulation;
Where the owner of a protection title declares to relinquish industrial property rights provided for at Point b above, the state management agency in charge of industrial property rights shall decide to terminate the validity of such protection title from the date of receipt of the owner’s declaration;
Organizations and individuals shall have the right to request the state management agency in charge of industrial property rights to terminate the validity of protection titles in cases specified at Points c, d, e, and f above, provided that they have paid fees. Based on the result of the examination of requests for termination of validity of protection titles and involved parties’ opinions, the state management agency in charge of industrial property rights shall issue decisions on termination of validity of protection titles or notify the refusal to terminate the validity of protection titles.

Forms of trademark registration for foreigner in Vietnam

Article 89 of the Law on Intellectual Property 2005, amended 2019 provides for forms of registration for the establishment of industrial property rights as follows:

Article 89. Modes of filing registration applications for the establishment of industrial property rights 

1. Vietnamese organizations and individuals, foreign individuals permanently residing in Vietnam, and foreign organizations or individuals having production or business establishments in Vietnam shall file applications for registration of establishment of industrial property rights either directly or through their lawful representatives in Vietnam. 

2. Foreign individuals not permanently residing in Vietnam, foreign organizations, or individuals having no production or business establishments in Vietnam shall file applications for registration of establishment of industrial property rights through their lawful representatives in Vietnam. 

3. Submit an application for registration of the establishment of industrial property rights in paper form to the state management agency in charge of industrial property rights or in electronic form according to the online filing system.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

This article contains information about “Forms of trademark registration for foreigner in Vietnam”. In recent years, we have supplied effective legal advice to businesses and individuals at reasonable prices and with efficient results. We always update and keep our operations and services in line with the law by adhering to legal principles. If you need any further information from the firm’s solicitors, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

See more

Procedures for foreign trademark registration in Vietnam

What to do in case of trademarks protection title refusal in Vietnam?

Regulations of Vietnam law in case of winning bid against regulations

Frequently asked questions

In what cases does a protection title become entirely invalidated?

Firstly, the registration applicant has neither had nor assigned the right to register a mark.
Secondly, the subject matter of industrial property fails to satisfy the protection conditions at the time the protection title granted.

Documents, samples, information identifying a mark registered for protection in a mark registration application?

Firstly, a sample of the mark and a list of goods or services bearing the mark.
Secondly, regulation on use of collective marks or regulation on use of certification marks.

Principal content of the regulation on use of certification marks?

Firstly, the organization or individual being the mark owner.
Secondly, conditions for using the mark.
Thirdly, characteristics of goods or services certified by the mark.
Fourthly, methods of evaluating characteristics of goods or services and methods of controlling the use of the mark.
Lastly, expenses paid by the mark user for the certification and protection of the mark, if any.

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How long does it take to register marriage with a foreigner in Vietnam?
BusinessFamily & Personal

How long does it take to register marriage with a foreigner in Vietnam?

by Quang Minh
written by Quang Minh

When people meet and form social relationships, many marriage cases arise. Particularly, marriage between foreigners happens regularly nowadays. When marrying a foreigner, each party should learn about his or her spouse’s marriage laws. In Vietnam, private international law governs marriage regarding foreign relations through certain laws and regulations. In this article, LSX legal firm will help you to answer the question: “How long does it take to register marriage with a foreigner in Vietnam?”

  • Law on Marriage and Family 2014
  • Law on Civil Status 2014

Marriage according to private international law

Marriage and family relations involving foreign elements under Private International Law mean marriage and family relations in the following cases:

  • Firstly, at least one partner participates as a foreigner or an overseas Vietnamese.
  • Secondly, partners are Vietnamese citizens but the bases for establishing, changing, or terminating that relationship is governed by foreign law. 
  • Thirdly, the relation arises abroad, or the property related to that relation is located abroad.

On the other hand, Article 126 of the Law on Marriage and Family 2014 stipulates that:

Article 126. Marriage involving foreign elements

1. For marriages between Vietnamese citizens and foreigners, each party shall comply with his/her country’s law on marriage conditions; if their marriage is conducted at a competent Vietnamese state agency, the foreigner shall also comply with this Law’s provisions on marriage conditions.
2. Marriages between foreigners permanently residing in Vietnam at competent Vietnamese agencies must comply with this Law’s provisions on marriage conditions.

Accordingly, each spouse must follow the conditions of marriage under his or her nation’s law on marriage. In addition, when the couple decides to register their marriage with a Vietnamese authority, the foreign party has to satisfy the conditions regulated by Vietnam Law on Marriage and Family 2014.

That means, the Vietnamese party must comply with Vietnamese law on marriage conditions and the foreign party must comply with their country’s law on marriage conditions. For example, among other conditions, the legal age to get married in the UK is 16 years old, while in Vietnam it’s 20 for men and 18 for women. So in this case, 20 years old Vietnamese men can marry 16 years old English women and 16 years old English men can marry 18 years old women. Besides, if the couple register their marriage in Vietnam, the English men or women must comply with Vietnamese conditions on legal age for marriage (20 for men and 18 for women)
Marriages between foreigners permanently residing in Vietnam at competent Vietnamese agencies must adhere to the provisions of Vietnam Law on Marriage and Family which governs marriage conditions.

Conditions on marriage

A man and a woman wishing to marry each other must satisfy the following conditions:

  • Firstly, the man is full 20 years or older, the woman is full 18 years or older.
  • Secondly, the marriage voluntarily decided by the man and woman.
  • Thirdly, the man and woman do not lose the civil act capacity.
  • Fourthly, the marriage does not fall into one of the following cases:
  1. Sham marriage or sham divorce;
  2. Underage marriage, forcing a person into marriage, deceiving a person into marriage, obstructing marriage;
  3. A married person getting married to or cohabitating as husband and wife with another person, or an unmarried person getting married to or cohabitating as husband and wife with a married person;
  4.  Getting married or cohabitating as husband and wife between people of the same direct bloodline; relatives within three generations; adoptive parent and adopted child; or former adoptive parent and adopted child, father-in-law, and daughter-in-law, mother-in-law and son-in-law, or stepparent and stepchild;

On the other hand, the Vietnamese State does not recognize marriage between persons of the same sex.

Competence to settle cases and matters of marriage and family involving foreign elements

The Law on Marriage and Family 2014 regulates that:

  • The competence to register civil status related to marriage and family relations involving foreign elements must comply with the law on civil status.
  • The competence to settle cases and matters of marriage and family involving foreign elements at court must comply with the Civil Procedure Code.
  • District-level People’s Courts of localities where Vietnamese citizens reside are competent to cancel illegal marriages, settle divorce cases, disputes over the rights and obligations of husband and wife, parents and children, recognition of parents, children, child adoption and guardianship between Vietnamese citizens residing in border areas and citizens of neighboring countries living in areas bordering on Vietnam in accordance with this Law and other Vietnamese laws.

How long does it take to register marriage with a foreigner in Vietnam?

Decree 123/2015/ND-CP detailed provisions of some Articles and measures for the implementation of the Law on Civil Status, including procedures for marriage registration as well as granting marriage licenses. In particular:

Article 31. Marriage registration procedures

Procedures for marriage registration shall be consistent with Clauses 2, 3, and 4 Article 38 of the Law on civil status and the following:

  1. Within 10 working days from the date on which the satisfactory application received, Committee Division of Justice shall assess it and carry out verification deemed necessary. Chief of Committee Division of Justice shall be answerable to the assessment results and any request of Committee Division of Justice in the processing of application for marriage registration.
  2. If the application is considered satisfactory, and both partners meet conditions for marriage as prescribed in the Law on marriage and family and are not subject to refusal cases prescribed in Article 33 of this Decree, Committee Division of Justice shall request the President of People’s Committee of district to sign 2 originals of marriage licenses.
  3. Subject to particular situations, whenever necessary, the Ministry of Justice shall request the Prime Minister to provide additional regulations on inquiry procedures included when the application for marriage registration is processed so as to protect lawful rights and interests of the partners and ensure the effective state management.

Article 32. Granting marriage licenses

  1. Within 3 working days from the date on which the President of People’s Committee of district signs marriage licenses, Committee Division of Justice shall grant marriage licenses to the partners in person.
  2. The granting marriage licenses shall be consistent with Clause 3 Article 38 of the Law on civil status.
    Marriage licenses shall be valid from the date on which they are documented in the vital records and granted to the partners as prescribed in this Clause.
  3. If either or both partner(s) cannot present to receive marriage license(s), Committee Division of Justice shall, upon their request in writing, give an extension of granting period providing not exceeding 60 days, from the date on which the President of People’s Committee of district signs marriage licenses. Upon expiration of such 60-day period, if both partners fail to present and receive marriage licenses, Committee Division of Justice shall request the President of People’s Committee of district to cancel the signed marriage licenses.
    If the partners still wish to get married thereafter, they shall follow the procedures for marriage registration from the beginning.

So, overall, it takes about 13 days for the marriage registration and issuance of the marriage registration certificate.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

The above content details information regarding “How long does it take to register marriage with a foreigner in Vietnam?”. LSX Legal Firm has provided effective legal guidance to businesses and individuals with reasonable prices as well as efficient outcomes in recent years. Following legal principles, we always update and keep our operations and services on track with the law. If you need any further information from the firm’s solicitors, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

See more

Regulations on marriage with foreigners in Vietnam

Where to register for marriage with a foreigner in Vietnam?

How to handle child marriage in Vietnam?

Frequently asked questions

Equality in rights and obligations between husband and wife?

Husband and wife participate equally in their marriage relationship, having equal rights and obligations in all family affairs and in the performance of citizens’ rights and obligations prescribed in the Constitution, the Law on Marriage and Family 2014, and relevant laws.

Rights and obligations of husband and wife to meet their family’s essential needs?

Husband and wife have the right and obligation to make transactions to meet their family’s essential needs.
When husband and wife have no common property or their common property not enough to meet their family’s essential needs, they shall contribute their separate property according to their financial capacity

In what cases does the disposition of common property require agreement in writing by husband and wife?

– Real estate.
– Movable assets required by law to registered for ownership.
– Assets as major income-generating source for the family.

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Dossier to establish a foreign-invested company in Vietnam
BusinessLegal service

Dossier to establish a foreign-invested company in Vietnam

by Quang Minh
written by Quang Minh

With the current open market mechanism, foreign investors are very interested in establishing foreign-invested companies to seek profits. They can invest in a variety of sectors in Vietnam. However, establishing an economic organization in another country requires an understanding of the law, especially the regulations related to procedures and papers. In this article, LSX legal firm provides: “Dossier to establish a foreign-invested company in Vietnam”

  • Law on Enterprise 2020
  • Law on Investment 2020
  • Decree 31/2021/ND-CP

Application for approval for investment guidelines of an investment project proposed by an investor

  • An application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;
  • A document concerning the legal status of the investor;
  • Document(s) proving the financial capacity of the investor including at least one of the following documents: the investor’s financial statements for the last two years; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;
  • Proposal for the investment project including the following main contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project and proposed demand for land use (if any), demand for labor, a proposal for investment incentives, impact and socio–economic efficiency of the project and preliminary assessment of environmental impact (if any);
  • If the law on construction requires formulation of a pre-feasibility study report, the investor is entitled to submit the pre-feasibility study report instead of a proposal for the investment project;
  • If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted;
  • Contents of the explanation for the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology;
  • Other documents relating to the investment project, and requirements on the eligibility and capacity of the investor (if any).

Application for approval for investment guidelines of an investment project prepared by a competent authority

  • An application for approval for investment guidelines;
  • Proposal for the investment project including the following main contents: investment objectives, investment scale, investment capital and plan for raising capital, location, duration, and schedule of the investment project; information about the current use of land in the location of the project, conditions for land expropriation if the project is subject to land expropriation, expected demand for land use (if any); preliminary assessment of environmental impact (if any) in accordance with the law on the protection of the environment protection; expected method of investor selection and conditions applicable to the investor (if any); and special regimes and policies (if any).
  • If the law on construction requires the formulation of a pre-feasibility study report, the competent authority is entitled to submit the pre-feasibility study report instead of a proposal for the investment project.

Dossier for Investment Registration Certificate

Article 36 of Decree 31/2021 stipulates procedures for granting and adjusting the Investment Registration Certificate for investment projects that do not have to apply for approval of investment guidelines as follow:

  1. The investor shall submit 01 application for the Investment Registration Certificate, including the contents specified in Clause 1, Article 33 of the Law on Investment 2020 to the investment registration agency. In case the investment project is implemented in 02 or more provincial-level administrative units, the investor shall submit the dossier to the Department of Planning and Investment of a province or centrally-run city where the investor implements the project, places or plans to set up an executive office to apply for the Investment Registration Certificate for the project.
  2. For an investment project that has already started operation, the investor shall submit a dossier as prescribed in Clause 1 of this Article, in which the investment project proposal replaced by a report on the implementation of the investment project from the time of implementation to the time of application for the Investment Registration Certificate.

Application according to clause 1, Article 33 of the Law on Investment 2020

  • An application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;
  • A document concerning the legal status of the investor;
  • Document(s) proving the financial capacity of the investor including at least one of the following documents: the investor’s financial statements for the last two years; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;
  • Proposal for the investment project including the following main contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project and proposed demand for land use (if any), demand for labor, a proposal for investment incentives, impact and socio–economic efficiency of the project and preliminary assessment of environmental impact (if any);
  • If the law on construction requires formulation of a pre-feasibility study report, the investor is entitled to submit the pre-feasibility study report instead of a proposal for the investment project;
  • If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted;
  • Contents of the explanation for the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology;
  • Other documents relating to the investment project, and requirements on the eligibility and capacity of the investor (if any).

Dossier for business registration certificate

At this point, the requirements for the profile that you must prepare differ depending on the type of company. However, regardless of the type of company, you have to prepare the following basic documents:

  • Firstly, the application form submits to the business registration office requesting the certificate to establish a company manufacturing household appliances.
  • Secondly, draft of company charter.
  • Thirdly, list of founders.
  • Fourthly, authenticated legal papers of members.
  • Fifthly, valid identification papers of the authorized representative and the legal representative.
  • Also, legal capital confirmation document.
  • Certificate of business registration (for organizations).
  • Investment registration certificate for foreign investors.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

The above content details information regarding “Dossier to establish a foreign-invested company in Vietnam”. LSX Legal Firm has provided effective legal guidance to businesses and individuals with reasonable prices as well as efficient outcomes in recent years. Following legal principles, we always update and keep our operations and services on track with the law. If you need any further information from the firm’s solicitors, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

See more

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Frequently asked questions

Dossiers to establish a Joint-stock company with foreign investors?

Firstly, an application form for the company registration.
Secondly, the charter of the company.
Thirdly, the list of founding shareholders; the list of shareholders that are foreign investors.
Fourthly, copies of shareholders’ legal papers.

Dossiers to establish a LLC with foreign investors?

Firstly, an application form for the company registration.
Secondly, the charter of the company.
Thirdly, the list of members
Fourthly, copies of members’ legal papers.
Legalized copies of legal documents of the members that as foreign organizations.
The Certificate of Investment Registration of foreign investors as prescribed by the Law on Investment.

Conditions to make the online application of Investment Registration Certificate valid?

Online submissions are valid when the following conditions are met:
– Having sufficient papers and the contents fully declared as prescribed for paper form, presented in the form of electronic documents and named corresponding to the name of the type of paper;
– The information declared on the System is complete and accurate according to the information in the paper form; authenticated by the investor’s digital signature or uniformly compared with the paper documents.

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Consulting service for dissolution of foreign-invested enterprises in Vietnam
BusinessLegal service

Consulting service for dissolution of foreign-invested enterprises in Vietnam

by Quang Minh
written by Quang Minh

Currently, in the Vietnamese market, many foreign-invested enterprises exist with diverse types and industries. However, not all businesses can operate smoothly. For many reasons, economic organizations have to come to a decision to dissolve. The current dissolution of foreign-invested enterprises must adhere to the same regulations as domestic-invested enterprises. In this article, LSX legal firm provides: “Consulting service for dissolution of foreign-invested enterprises in Vietnam”

  • Law on Enterprise 2020

Cases of company dissolution in Vietnam

An enterprise goes into dissolution in the following cases:

  • Firstly, the operating period specified in the company’s charter expires without an extension decision.
  • Secondly, the enterprise is dissolved under a resolution or decision of the owner (for sole proprietorships), the Board of Partners (for partnerships), the Board of Members, and the owner (for limited liability companies) or the GMS (for joint stock companies).
  • Thirdly, the enterprise fails to maintain the adequate number of members prescribed in this Law for 06 consecutive months without converting into another type of business.
  • Fourthly, the Certificate of Enterprise Registration is revoked, unless otherwise prescribed by the Law on Tax administration.

Conditions of company dissolution

An enterprise may only go into dissolution after fully paying all of its debts and liabilities. Besides, the enterprise must not get involved in any dispute at the court or arbitration. Relevant executives and the enterprise whose Certificate of Enterprise Registration revoked shall jointly take responsibility for the enterprise’s debts.

Resolution or decision on the dissolution of foreign-invested enterprises

Firstly, to conduct procedures for dissolution, the enterprise has to issue a resolution or decision on the dissolution. Such a resolution or decision shall contain the following information:

  • The enterprise’s name and headquarters address.
  • Reasons for dissolution.
  • Time limit and procedures for finalization of contracts and payment of the enterprise’s debts.
  • Plan for settlement of obligations under employment contracts.
  • Full name and signature of the owner of the sole proprietorship, the company’s owner, the President of the Board of Members, the President of the Board of Directors.

Dissolution procedures of foreign-invested enterprises

Dissolution under Article 208 of the Enterprise Law:

  • The owner of the sole proprietorship, the Board of Members, or the owner, the Board of Directors directly organizes the liquidation of the enterprise’s assets, unless the company’s charter requires establishment of a separate liquidation organization;
  • Within 07 working days from the ratification date, the resolution or decision on dissolution and the minutes of the meeting shall be sent to the business registration authority, tax authority, and the enterprise’s employees. The resolution or decision shall be posted on the National Enterprise Registration Portal, displayed at the enterprise’s headquarters, branches, representative offices.
  • In case the enterprise still has unpaid debts, the resolution or decision and the debt payment plan shall be sent to the creditors and persons with related rights, obligations, interest. The debt payment plan contains the creditors’ names, debts, repayment time, location, and method; method and time limit for settling creditors’ complaints;
  • The business registration authority post a notification that an enterprise is undergoing dissolution, the dissolution resolution or decision, and debt payment plan (if any) on the National Enterprise Registration Portal right after the resolution or decision is received (if any);
  • After the dissolution costs and debts have been fully paid, the remainder shall be divided among the owner, members/partners, shareholders in proportion to their stakes/shares;
  • The enterprise’s legal representative applies for dissolution to the business registration authority within 05 working days from the day on which the enterprise’s debts fully paid;
  • After 180 days from the receipt of the dissolution resolution or decision mentioned in Clause 3 of this Article without further comments from the enterprise or written objections from relevant parties, or within 05 working days from the receipt of the application for dissolution, the business registration authority update the enterprise’s status on the national enterprise registration database;

Payments of outstanding debts

The enterprise shall pay the outstanding debt before dissolution in the following order of priority:

  • Unpaid salaries, severance pay, social insurance, health insurance, unemployment insurance premiums, and other benefits of employees under the collective bargaining agreement and concluded employment contracts.
  • Tax debts.
  • Other debts.

Dossier for dissolution

An application for dissolution of an enterprise shall consist of:

  1. The notification of the enterprise’s dissolution;
  2. The report on liquidation of the enterprise’s assets; list of creditors and paid debts, including tax debts, social insurance, health insurance, and unemployment insurance of employees after the dissolution decision is issued (if any).
  3. Members of the Board of Directors (for joint stock companies), members of the Board of Members (for limited liability companies), the owner (for sole proprietorships), the Director/General Director, general partners, and legal representatives shall take responsibility for the accuracy and transparency of the application.
  4. In case the application contains inaccurate or false information, the persons specified in clause 2 shall jointly provide the outstanding employees’ benefits, taxes, and other debts and bear personal responsibility for the consequences that occur within 05 years from the day on which the application submitted to the business registration authority.

Actions prohibited from the issuance date of the dissolution decision

Article 211. Actions prohibited from the issuance date of the dissolution decision

From the issuance date of the dissolution decision, the enterprise and its executives prohibited from the following actions:
a) Concealing, and disguising assets;
b) Denying or reducing the creditors’ claims to the debts;
c) Convert unsecured debts into debts secured with the enterprise’s assets;
d) Concluding new contracts, except for dissolving the enterprise;
dd) Pledging, donating, and leasing out assets;
e) Terminating effective contracts;
g) Raising capital in any shape or form.
The persons who commit the violations mentioned in Clause 1 of this Article, depending on their nature and seriousness, will held liable to administrative penalties or criminal prosecution and pay damages.

In what cases does an enterprise’s Certificate of Enterprise Registration revoked?

The competent authority may revoke an enterprise’s Certificate of Enterprise Registration in the following cases:

  • Firstly, the enterprise registration application contains fraudulent information.
  • Secondly, the enterprise is established by persons banned from establishing enterprises specified in Clause 2 Article 17 of the Law on Enterprise 2020.
  • Thirdly, the enterprise is suspended for 01 year without notifying the business registration authority and the tax authority.
  • Fourthly, the enterprise fails to send reports in accordance with Point c Clause 1 Article 216 of this Law to the business registration authority within 06 months from the deadline or from the receipt of a written request.
  • Other cases under the decision of the court or request of competent authorities as prescribed by law.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

This article contains information about “Consulting service for dissolution of foreign-invested enterprises in Vietnam” In recent years, we have supplied effective legal advice to businesses and individuals at reasonable prices and with efficient results. We always update and keep our operations and services in line with the law by adhering to legal principles. If you need any further information from the firm’s solicitors, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

See more

Dissolution of foreign-invested enterprises in Vietnam

Dossiers for dissolution of branches in Vietnam

Dissolution of foreign-invested companies in Vietnam

Frequently asked questions

Obligation of Business Registration Office regarding dissolution upon revocation of the Certificate of Enterprise Registration or under court decision?

The business registration authority shall post on the National Enterprise Registration Portal a notification that an enterprise undergoing dissolution on the same day on which the decision to revoke the Certificate of Enterprise Registration issued or right after the court decision on the enterprise’s dissolution received. The notification shall be enclosed with the effective revocation decision or the court decision.

Differences between debt payment between dissolution upon revocation of the Certificate of Enterprise Registration or under court decision and dissolution conducted by the enterprise?

In case the enterprise dissolves upon revocation of the Certificate of Enterprise Registration or under a court decision, it shall pay the debt according to Clause 5 Article 208 of the Law on Enterprise.
On the other hand, Clause 5 Article 208 stipulates debt payment priority of dissolution conducted by an enterprise. So, there are no differences between the two procedures.

Who takes responsibility for damages of wrongly carrying out procedure for dissolution in the case of Business Certificate revoked?

According to Article 209 of the Law on Enterprise 2020, relevant executives of company shall take personal responsibility for any damage caused by their failure to comply with the procedure.

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The process of establishing a foreign-invested company in Vietnam
BusinessLegal service

The process of establishing a foreign-invested company in Vietnam

by Quang Minh
written by Quang Minh

At the present time, the Vietnamese government implements a lot of open policies for foreign investors. They can invest in many types in the territory of Vietnam. In those types, investors often establish economic organizations, namely companies operating in the Vietnamese market. In this article, LSX legal firm would like to give you a guidance regarding: “The process of establishing a foreign-invested company in Vietnam”

  • Law on Investment 2020

Investment in establishing a company

Foreign-investor establish a business entity in accordance with the following regulations:

  • A foreign investor that establishes a business entity shall satisfy market access conditions applied to foreign investors specified in Article 9 of the Law on Investment 2020:

Article 9. Business lines allowed in market with conditions and market access conditions applied to foreign investors

Market access conditions applied to foreign investors are the same as those applied to domestic investors, except for the case specified in Clause 2 of this Article.
Pursuant to Laws and Resolutions of the National Assembly, Ordinances and Resolutions of the Standing Committee of the National Assembly, Decrees of the Government, and international agreements to which the Socialist Republic of Vietnam is a signatory, the Government shall promulgate a List of business lines restricted to foreign investors, including:
a) Business lines not allowed in market access;
b) Business lines allowed in market with conditions.
Market access conditions applied to foreign investors specified in the List of business lines restricted to foreign investors include:
a) Ratio of the foreign investor’s charter capital in a business entity;
b) Investment method;
c) Scope of investment;
d) Capacity of the investor; partners participating in the investment activities;
dd) Other conditions specified in the Laws and Resolutions of the National Assembly, Ordinances and Resolutions of the Standing Committee of the National Assembly, Decrees of the Government, and international agreements to which the Socialist Republic of Vietnam is a signatory.
The Government shall elaborate this Article.
  • Before establishing a business entity, the foreign investor must have an investment project and follow the procedures for issuance or adjustment of an investment registration certificate, except for establishment of a small and medium-sized start-up enterprise and a startup investment fund following regulations of the Law on Small and Medium-sized Enterprises.

Cases requiring investment guideline approval

Projects requiring investment guideline approval: large, important projects, often related to national defense, security, economic, political issues…

In Vietnam, The National Assembly, The Prime Minister, and the provincial People’s Committees have the competent to approve investment guidelines.
Articles 30, 31, and 32 of the Law on Investment 2020 respectively stipulate the investment projects fall under the jurisdiction of The National Assembly, The Prime Minister, and the provincial People’s Committees to approve investment guidelines.
If the investment project falls under cases of Articles 30, 31, and 32 of the Law on Investment 2020, the investor must apply for investment guideline approval.

Application for approval for investment guidelines of an investment project proposed by an investor

  • An application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;
  • A document concerning the legal status of the investor;
  • Document(s) proving the financial capacity of the investor including at least one of the following documents: the investor’s financial statements for the last two years; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;
  • Proposal for the investment project including the following main contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project and proposed demand for land use (if any), demand for labor, a proposal for investment incentives, impact and socio–economic efficiency of the project and preliminary assessment of environmental impact (if any);
  • If the law on construction requires formulation of a pre-feasibility study report, the investor is entitled to submit the pre-feasibility study report instead of a proposal for the investment project;
  • If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted;
  • Contents of the explanation for the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology;
  • Other documents relating to the investment project, and requirements on the eligibility and capacity of the investor (if any).

Cases requiring the investment registration certificate

The Law requires investment registration certificate in the following cases:

  • Investment projects of foreign investors.
  • Investment projects of the business entities mentioned in Clause 1 Article 23 of the Law on Investment 2020.

Accordingly:

Article 23. Conduct of investment activities by foreign-invested business entities

When establishing a business entity, when making investment by contributing capital, purchasing shares or purchasing stakes of a business entity or when making investment under a business cooperation contract in one of the following cases, the foreign investor must satisfy the conditions and follow investment procedures applied to foreign investors:
a) Over 50% of its charter capital or more is held by a foreign investor(s) or the majority of the general partners are foreigners if the business entity is a partnership;
b) Over 50% of its charter capital or more is held by a business entity(ies) mentioned in Point a of this Clause;
c) Over 50% of its charter capital or more is held by a foreign investor(s) and a business entity(ies) mentioned in Point a of this Clause.

Thus, if the foreign investor or foreign-invested entity falls into the cases above (owns more than 50% of the charter capital), they have to apply for an investment registration certificate.

The process of establishing a foreign-invested company in Vietnam

The process of establishing a foreign-invested company in Vietnam includes:

  • Firstly, apply for investment guideline approval if the project falls under cases Article 30, 31, and 32 of the Law on Investment 2020.
  • Secondly, apply for an investment registration certificate. In case the foreign investor or foreign-invested entity owns 50% or less of the new company’s charter capital as specified in Clause 1, Article 23 of the Law on Investment 2020, they do not have to apply for this kind of certificate.
  • Thirdly, apply for a business registration certificate.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

The above content details information regarding “The process of establishing a foreign-invested company in Vietnam”. LSX Legal Firm has provided effective legal guidance to businesses and individuals with reasonable prices as well as efficient outcomes in recent years. Following legal principles, we always update and keep our operations and services on track with the law. If you need any further information from the firm’s solicitors, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

See more

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Dossiers of working permit for foreign workers in Vietnam

What documents do foreigners need to enter in Vietnam?

Frequently asked questions

Do you have to apply for approval of investment guidelines for petroleum processing company?

The Prime Minister’s power to approve investment guidelines includes investment projects on petroleum processing according to point dd, Clause 1, Article 31 of the Law on Investment 2020.

Do you have to apply for approval of investment guidelines for a civil aviation company?

Under the Law on Investment 2020, investment projects regardless of capital sources in new investment projects on passenger air transport business shall belong to the competent of The Prime Minister.

When does a newly established foreign-invested company considered a foreign investor and starts to operate?

From the date on which the enterprise registration certificate or an equivalent document is issued, the business entity established by a foreign investor shall be the investor that executes the investment project set out in the investment registration certificate.

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Number of members you need to establish a joint stock company in Vietnam
BusinessLegal service

Number of members you need to establish a joint stock company in Vietnam

by Quang Minh
written by Quang Minh

To carry out the procedures for establishing a joint stock company, you have to satisfy the legal conditions and regulations of state agencies such as capital, qualifications, founders, etc. So, how many members do you need to establish a joint stock company in Vietnam? How does the law regulate procedures for setting up a joint stock company? In this article, LSX legal firm provides: “Number of members you need to establish a joint stock company in Vietnam”

  • Law on Enterprise 2020

Joint-stock company in Vietnam

Article 111 of the Law on Enterprises 2020 defines a joint stock company as:

Article 111. Joint stock companies

A joint stock company is an enterprise in which:
a) The charter capital is divided into units of equal value called shares;
b) Shareholders can be organizations and individuals; the minimum number of shareholders is 03; there is no limit on the maximum number of shareholders;
a) A shareholder’s liability for the company’s debts and liabilities is equal to the amount of capital contributed to the company by the shareholder;
d) Shareholders may transfer their shares to other persons except for the cases specified in Clause 3 Article 120 and Clause 1 Article 127 of this Law.
A joint stock company has the status of a juridical person from the day on which the Certificate of Enterprise Registration is issued.
A joint stock company may issue shares, bonds, and other kinds of securities.

Number of members you need to establish a joint stock company in Vietnam

A shareholder (member) owns at least a share of a joint stock company and only has liable for debts and other financial obligations to the extent of the contributed capital.
Article 111 of the Law on Enterprises 2020 stipulates that shareholders can be organizations and individuals, the minimum number of shareholders is 03 and there is no limit on the maximum number of shareholders.

Characteristics of joint-stock company

Members/Shareholders

A joint stock company has 03 types of shareholders, including:

  • Founding Shareholders: Founding shareholders must own at least one ordinary share and sign on the list of founding shareholders of a joint-stock company. As can be seen, founding shareholders are also common shareholders.
  • Ordinary shareholders: shareholders that own ordinary shares.
  • Preference shareholders: Owners of preferred shares.

The nature of company type

Counter-capital means the relationship between the owners of the company base on the percentage of shares holdings of the company. Shareholders who hold a large percentage of shares with voting rights will have a lot of influence in the company and vice versa. In fact, in joint-stock companies with several dozen to several hundred shareholders is relatively common for the shareholders in the company to not know each other.

Capital mobilization

Under the current law on enterprises, the Joint-stock company can perform fully and diversified forms of capital mobilization such as borrowing from banks, issuing shares, bonds, etc.

  • Stocks are certificates issued by a joint-stock company, recorded by book entries, or certified electronic data on the ownership of one or more shares of that company. Issuing shares is a mobilization method that a limited liability company can not conduct.
  • Joint stock companies have the right to issue bonds, convertible bonds, and other types of bonds in accordance with the law and the company’s charter.

Organization structure

According to the provisions of the Law on Enterprise 2020, a joint stock company has its organizational structure under the following 02 models:

Model 1Model 2
General meeting of shareholders; – Board of Directors; – Board of Controllers and Director or General Director.General meeting of shareholders; – Board of Directors; – Director or General Director.
Note: In case the company has less than 11 shareholders (as organizations), holding less than 50% of the total shares of the company, the law does not require the company to have a Board of Controllers.Note: At least 20% of the members of the Board of Directors must be independent members and have an Audit Committee under the Board of Directors.

Shares transfer of a joint-stock company

In principle, shareholders can freely transfer their shares. However, transfer limits still exist, specifically as follows:

  • Restricted by the provisions of the company’s charter and must clearly state such restriction on the respective shares;
  • Shares of founding shareholders may only be transferred to other founding shareholders within the first 3 years after establishment. In case they are transferred to a person who is not a founding shareholder, the approval of the General Meeting of Shareholders must be obtained;
  • Shareholders can not transfer voting shares.

Procedures to establish Joint-stock company

Step 1: Prepare dossiers

Dossier to establish a Joint Stock Company includes:

  • Application for establishment (the joint-stock type);
  • Charter of Joint-Stock Company;
  • Individual identification papers of shareholders (as individuals): identity card, citizen identification, passport, etc.
  • Legal papers of the individual as the legal representative.
  • Relevant legal papers of business registration, operation registration, establishment decision… for shareholders as legal entities.
  • List of founding shareholders of the company.
  • Authorization document: In case the owner does not directly carry out the procedure.

Step 2: Submit dossiers

Submit the application at the Business Registration Office of the Department of Planning and Investment at the province level where you plan to locate the head office of your Company.

Currently, there are two forms to submit an application:

  • Register directly: apply at the “one-stop” department of the Business Registration Office. However, in Hanoi, this method is no longer applied.
  • Online business registration: submit your application on the National Business Registration Portal (Address: https://dangkykinhdoanh.gov.vn). After the online application is valid, you will have to go directly to the “one-stop” department to return the scanned copy (hard copy) when submitting it online. 

Once you have submitted your application, you will receive a receipt for your application. The usual processing time for applications will be 3 working days.

Step 3: Receive result

According to the schedule on the appointment, you return to the “one-stop” department of the Business Registration Office to receive the results. There are two possible scenarios:

  • Dossiers valid: You will receive a Certificate of Business Registration as a result and a notification to the tax authorities.
  • Dossiers invalid: The Business Registration Office will have a document instructing you to amend the dossiers in accordance with the provisions of the law. After the amendments and supplements to your application according to this guide, then resubmit your application as in Step 2.

Step 4: Post-establishment procedures.

Receiving a Business Registration Certificate is just the first step in putting your company into operation. After that, you have to do the following series of procedures:

  • Notice the use of the company’s seal sample.
  • Bank account notice (if your company registers a bank account).
  • Tax procedures such as license declaration and payment of license fees, Tax on corporate headquarters inspection,…
  • Trademark protection (if you need it).
  • …

After carrying out these procedures, your Company can go into operation.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

Finally, hope this article is useful for you to answer the question about “Number of members you need to establish a joint stock company in Vietnam”. If you need any further information, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

Procedures for capital contribution to a joint-stock company according to Vietnamese Law

Advantages of the organizational structure of a joint stock company in Vietnam

Regulations on bankruptcy of joint-stock companies in Vietnam

Where to submit the application for registration of a Joint-stock company?

– Submit directly at the business registration office where the company’s headquarters is located.
– Submit business registration documents by post office.
– Apply online through the electronic portal.

Basic information need to prepare to establish a Joint-stock company?

Firstly, company’s name
Secondly, address of head office
Thirdly, company’s business lines
Lastly, charter capital

Can a joint stock company apply to resume operations during the suspension period?

According to the provisions of the Law on Enterprise 2020, enterprises that are in the period of registration for temporary suspension of operation can register to resume operation before the deadline, but must perform the obligation to notify the business registration office in advance. when working again.

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Sole proprietorship leasing in Vietnam
BusinessLegal service

Sole proprietorship leasing in Vietnam

by Quang Minh
written by Quang Minh

Sole proprietorship is a subject that is no longer strange to each of us. The appearance of sole proprietorship has diversified the types of enterprises, contributing to promoting business development. However, in addition to the regulations on the establishment of sole proprietorship; rights and obligations of sole proprietorship; procedures for converting sole proprietorship; Another problem about sole proprietorship leasing is not very common. So, in this article, LSX legal firm provides: “Sole proprietorship leasing in Vietnam”

  • Law on Enterprise 2020

The concept of sole proprietorship

According to Article 188 of the Law on Enterprise 2020, a sole proprietorship understood as follows:

  • A sole proprietorship means an enterprise owned by a single individual whose liability for its entire operation equal to his/her total assets.
  • A sole proprietorship must not issue any kind of securities.
  • An individual may only establish one sole proprietorship. The owner of a sole proprietorship must not concurrently own a household business or hold the position of a general partner of a partnership.
  • A sole proprietorship must not contribute capital upon establishment or purchase of shares or stakes of partnerships, limited liability companies, or joint stock companies.

Characteristics of a sole proprietorship

A sole proprietorship established and owned by an individual

The sole proprietorship’s owner also plays the role of a legal representative who will represent it during civil proceedings, as the plaintiff, defendant, or person with relevant interests and duties before the court and arbitral tribunals, and in the performance of other rights and obligations prescribed by law. The sole proprietorship’s owner has total authority to decide all of its business activities, use of post-tax profit, and fulfillment of other financial obligations as prescribed by law. In addition, the owner of a sole proprietorship must not concurrently be the owner of a business household or a general partner of a partnership.
The owner may directly or hire another person to hold the position of Director/General Director. In the case of a hired Director/General Director, the owner still has the responsibility for every business activity of the enterprise.

A juridical person must have its own property, which means having a separation between the assets of that juridical person and the creators of the juridical person. A Sole Proprietorship is not independent of its assets because the assets of a Sole Proprietorship are not independent in relation to the assets of the owner of the Sole Proprietorship. So, a sole proprietorship does not have legal status.

Capital mobilization

  • Sole proprietorships may not issue securities of any kind.
  • Sole proprietorships do not have the right to contribute capital to establish or buy shares; capital contribution in a partnership, limited liability company, or joint-stock company.

Charter capital

  • The capital of a sole proprietorship registered by its owner. The sole proprietorship’s owner shall register the accurate amounts of capital in VND, convertible currencies, gold, and other assets, types, and quantities of assets.
  • All the capital, including loans and leased assets serving the sole proprietorship’s operation fully recorded in its accounting books and financial statements as prescribed by law.
  • During its operation, the sole proprietorship’s owner has the right to increase or decrease its capital. The increases and decreases in capital shall be fully recorded in accounting books. In case the capital is decreased below the registered capital, the decrease may only be made after it has been registered with the business registration authority.

Leasing of sole proprietorships

The sole proprietorship’s owner has the right to lease out the entire sole proprietorship, provided a written notification and certified true copies of the lease contract are submitted to the business registration authority and tax authority within 03 working days from the effective date of the contract. During the lease term, the sole proprietorship’s owner still takes legal responsibility as its owner. The lease contract shall specify the rights and obligations of the owner and the lessee to the sole proprietorship’s business operation.

Exercising the owner’s rights in special cases

Article 193 of the Law on Enterprises in 2020 stipulates:

  1. In case the sole proprietorship’s owner is detained, serving an imprisonment sentence, or serving an administrative penalty in a correctional institution or rehabilitation center, he/she shall authorize another person to perform his/her rights and obligations.
  2. In case the owner dies, this/her hair or one of the legal heirs or designated heirs shall be the owner under an agreement among the heirs. In case such an agreement cannot be reached, the sole proprietorship shall be converted into a company or dissolved.
  3. In case of the owner dies without an heir or the heir refuses the inheritance or is disinherited, the owner’s assets shall be handled in accordance with civil laws.
  4. In case the owner is incapacitated, has the limited legal capacity, or has difficulty controlling his/her behaviors, his/her rights and obligations shall be performed through his/her representative.
  5. In case the sole proprietorship’s owner is banned by the court to do certain jobs in the enterprise’s business lines, the owner shall suspend or stop doing business in the relevant business lines shall be suspended or stopped or transfer the sole proprietorship to another organization or individual.

Conversion of a sole proprietorship into a limited liability company, joint stock company or partnership

The owner of a sole proprietorship may convert it into a limited liability company, joint stock company, or partnership if the owner fully satisfies the following conditions:

  • Firstly, the sole proprietorship satisfies the conditions specified in Clause 1 Article 27 of the Law on Enterprise 2020;
  • Secondly, the owner makes a written commitment to take personal responsibility for all unpaid debts and pay them when they are due with all of his/her assets;
  • Thirdly, the owner has a written agreement with the parties of ongoing contracts that the new company will take over and continue executing these contracts.
  • Fourthly, the owner has a written commitment or agreement with other limited partners to continue hiring the existing employees of the sole proprietorship.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

Finally, hope this article is useful for you to answer the question about “Sole proprietorship leasing in Vietnam”. If you need any further information, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

Registering for protection of trademarks as per Vietnamese law

Can a Vietnamese company that owes tax to suspend its business?

Why can’t sole proprietorship divide, separate, consolidate or acquire in Vietnam?

Advantages of a sole proprietorship?

– Because there is only one owner, he/she has full rights to decide on everything related to the operation of the company.
– A sole proprietorship has a simple and compact organizational structure.
– Easy to manage
– Since a private enterprise has unlimited liability with the entire owner’s assets, it will be easy to create trust for partners and customers as well as promote business cooperation.

Disadvantages of a sole proprietorship?

– Owners of sole proprietorships are subject to high risk because they have unlimited liability with all their assets for all business activities of the business.
– The owner is always responsible for every business activity of the business.
– A sole proprietorship does not have the right to contribute capital to the establishment, purchase shares, or contributed capital in a partnership, limited liability company, or joint-stock company.
– This type of company does not have legal status. As a result, the problem of raising capital will also face difficulties.

Do sole proprietorships owners have the right to sell their business?

According to Clause 1, Article 192 of the Law on Enterprise 2020; Owners of sole proprietorships have the right to sell their businesses to other individuals or organizations

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Are state-owned enterprises owned by the state in Vietnam?
BusinessLegal service

Are state-owned enterprises owned by the state in Vietnam?

by Quang Minh
written by Quang Minh

Is state-owned enterprise referring to a business in which all capital is directly held and owned by the State? How does the law regulate the business model of a state-owned enterprise? In this article, LSX legal firm will help you answer the question: “Are state-owned enterprises owned by the state in Vietnam?”

  • Law on Enterprise 2020

Definition and characteristics of a state-owned enterprise

Clause 11, Article 4 of the Law on Enterprise 2020 defines state-owned enterprise as an enterprise with more than 50% charter capital or voting shares held by the State as prescribed in Article 88 of this Law.

State-owned enterprises carry a number of stricter management and control mechanisms than other types of enterprises:

Owner: the State or the State together with other individuals and organizations owns a state-owned enterprise.

Capital ownership: According to the provisions of Point A, Clause 1, Article 88 of the Law on Enterprise 2020, State enterprises own 100% of the charter capital or hold more than 50% of the charter capital or voting shares.

Business form: Based on the percentage of capital that the state holds, state-owned enterprises can exist in many different forms. Specifically:

  • Wholly state-owned enterprises include:
  1. Single-member limited liability companies have 100% of charter capital held by the State that are parent companies of state-owned corporations or parent companies in groups of the parent company – subsidiary companies;
  2. Independent single-member limited liability companies have 100% of charter capital held by the State.
  • Partially state-owned specified in Point b Clause 1 of this Article include:
  1. Multiple-member limited liability companies and joint stock companies over 50% of charter capital or voting shares held by the State as parent companies of state-owned corporations or parent companies in groups of the parent company – subsidiary companies;
  2. Independent multiple-member limited liability companies and joint stock companies over 50% of charter capital or voting shares held by the State.

Legal status: All state-owned enterprises have legal status.

Classification of state-owned enterprise based on business types

The Law on Enterprise 2020 classifies state-owned enterprises into the following types:

  • Wholly state-owned company: an enterprise owned by the state with the entire charter capital, established, organized, managed, and exists in the form of an independent state company and a state corporation.
  • State-owned joint-stock company: a joint-stock company in which all shareholders are state companies or organizations authorized by the state to contribute capital. Organized and operated under the Law on Enterprise 2020.
  • State-owned single-member limited liability company: a limited liability company in which the state owns the entire charter capital and organizational management.
  • State limited liability company with two or more members: a limited liability company in which all members are state companies or whose members are state companies, members are authorized capital contributors. Organized and operated in accordance with corporate law.
  • Joint-stock enterprise with a dominant capital contribution of the State: an enterprise in which the state’s shares or contributed capital accounts for more than 50% of the charter capital. The state retains the right to fully control the enterprises.

Classification of state-owned enterprise based on organizational structure

  • Company President, Director or General Director, Board of Controllers.
  • Board of Members, Director or General Director, Board of Controllers.

All rights to manage and run the business as well as control capital and profits belong to the state, so this business model is quite inefficient. However, at the same time, businesses also enjoy many legal and financial benefits such as taxes.

Rights and obligations of the Board of Members

The Board of Members shall, in the name of the company, perform the rights and obligations of the owner, shareholders/members of other companies owned by the company, or whose shares/stakes are owned by the company.

The Board of Members has the following rights and obligations:

  • Decide the matters prescribed in the Law on Management and use of State Investment in Enterprises;
  • Decide establishment, reorganization, and dissolution of the company’s branches, representative offices, and dependent units;
  • Organize internal audits and decide establishment of the company’s internal audit unit;
  • Decide the company’s annual business plan, and policies on market development, marketing, and technology;
  • Other rights and obligations prescribed by the company’s charter, the Law on Enterprise 2020, and relevant laws.

Rights and obligations of members of the Board of Members

  • Participate in meetings of the Board of Members; discuss, propose, and vote on the issues within the jurisdiction of the Board of Members;
  • Inspect, access, and extract logbooks; monitor contracts, transactions, accounting books, financial statements, minutes of meetings of the Board of Members, and other documents of the company;
  • Other rights and obligations prescribed by the company’s charter, the Law on Enterprise 2020, and relevant laws.

Rights the Board of Controllers

The Board of Controllers has the rights to:

  • Participate in meetings of the Board of Members, official and unofficial discussions between the state ownership representative body with the Board of Members; question the Board of Members, its members, the company’s President, and the Director/General Director about the plans, projects, development programs and other decisions in management and administration of the company.
  • Examine accounting books, reports, contracts, transactions, and other documents of the company; inspect the management and administration by the Board of Members and its members, the company’s President, and the Director/General Director where necessary or at the request of the state ownership representative body.
  • Request the Board of Members and its members, the company’s President and Director/General Director, Deputy Directors/Deputy General Directors, chief accountant, and other executives to submit reports or provide information about the company’s management, investment, and business operation.
  • Request the company’s executives to submit reports on the subsidiary companies’ finance and business performance if they are necessary for the performance of their duties prescribed by law and the company’s charter.
  • Request the state ownership representative body to establish an audit unit that will advise and assist the Board of Controllers in the performance of its rights and obligations.
  • Other rights and obligations prescribed by the company’s charter.

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Contact LSX

Finally, hope this article is useful for you to answer the question about “Are state-owned enterprises owned by the state in Vietnam?”. If you need any further information, please contact  LSX Law firm: +84846175333 or Email: hoangson@lsx.vn

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Does the dissolution of state-owned enterprise differ to other types of enterprise?

Because the Law on Enterprise 2020 does not have a separate regulation on the dissolution of state-owned enterprises, the same procedures will be applied as other types of enterprise dissolution.

Rights of state-owned enterprises?

1. Freely engage in any business line that is not banned by law.
2. Freely run the business and choose a type of business organization; choose business lines, area of operation, and type of operation; change the scale of business and business lines.
3. Choose the method of mobilizing, distributing, and using capital.
4. Freely find markets, customers and enter into contracts.
5. Export and import.
6. Hire employees in accordance with employment laws.
7. Apply technological advances to improve business efficiency; have intellectual property rights protected in accordance with intellectual property laws.
8. Acquire, use, and dispose of their assets.
9. Reject unlawful requests for the provision of resources from other organizations and individuals.
10. File complaints and participate in proceedings as prescribed by law.
11. Other rights prescribed by law.

Obligations of state-owned enterprises?

Regarding obligations, state-owned enterprises must meet the general obligations of enterprises in Article 8 of the Law on Enterprise 2020.

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