In order to perform well in a competitive market, many entrepreneurs see joint-stock companies as a solution. Therefore, understanding the joint-stock company registration procedure under Vietnamese Law will give you much more opportunities to get into the market faster. Then, how does it work and what do you need to prepare? Let’s find out with LSX.
- 2020 Enterprise Law
- 2020 Investment Law
- Decree 01/2021/ND-CP on enterprise registration
What is Joint-stock Company?
Accordingly, a Joint-stock Company (JSC) is an enterprise in which the charter capital is divided into equal parts called shares. Indeed, the company has a minimum number of shareholders of 3 and no maximum limit. Therefore, shareholders are only responsible for the debts and other property obligations of the enterprise to the extent of the amount of capital contributed to the enterprise.
Joint-stock Company registration procedure
Step 1: Preparation of a dossier
Firstly, the applicants must prepare themselves a dossier for JSC registration; which includes:
- Application for registration of establishment of a joint stock company
- Charter of joint stock company
- List of founding shareholders
- People’s identity card/Citizen identity card or shareholder’s passport
- Business Registration Certificate/Certificate of Business Registration Certificate for organizations and enclosed with personal identification papers, authorization decision of the authorized representative of the organization
- Decision on capital contribution of shareholders being organizations
Step 2: Submit the dossier
Thereafter the preparation of the dossier, the applicants may submit it directly at the business registration office, the Department of Planning and Investment of the province, city where the enterprise is headquartered. Besides, the applicants are now able to submit the application online for more convenience.
Step 3: Recieve the certificate
Then, within 3 days from the date the application is valid, based on the receipt, the enterprise will receive the results at the place of application.
Lastly, hope this article “Joint-stock company registration procedure under Vietnamese Law” could help you solve your problem. If you have any questions, please contact Lawyer X for quick and best legal services: 0833102102.
The two most common types of enterprises are limited liability companies and joint-stock companies.
Accordingly, the applicant must pay VND 50,000 in order to register a JSC directly; or free if they apply virtually.
No, a Foreign Capital Company does not need a Legal Representative or a Director who is Vietnamese.