Limited liability Company in Vietnam
According to Vietnam’s Law on Enterprise, a limited liability corporation is one of four types of business entities that local and foreign investors can use to conduct business in Vietnam. A limited liability company (LLC) is a legal entity formed by each member’s capital contributions to the company. In Vietnam, a limited liability company (LLC) cannot have more than 50 members. Surprisingly, an LLC member’s accountability for the company’s financial obligations is based on his or her capital contribution rather than his or her assets.
If you have any additional questions concerning Vietnam LLCs and would like to speak with a specialist, please contact us!
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Limited liability Company registration conditions
An LLC’s name cannot be the same or similar to other existing names, overlap with the names of state agencies or other social groups without their permission, or contain symbols or words that are offensive to Vietnamese culture and customs. The foreign name of an LLC must adhere to the requirements outlined in Article 39 of the Law on Enterprise 2020. The first step in forming a limited liability corporation in Vietnam is to get an Enterprise Registration Certificate.
Timeline
It takes one to three months to register.
Fees
Contact us for detailed information on incorporation fees.
Compulsory regulation
To legally function in Vietnam, a limited liability company incorporated in Vietnam may be required to submit a business license. Depending on your chosen company area, you may need to apply for a license with the appropriate authority. It’s worth noting that, regardless of whether the business lines are conditional or unconditional, the business license, if required, can only be obtained once the IRC and ERC applications have been approved.
Furthermore, within 90 days of receiving its Enterprise Formation Certificate, an LLC in Vietnam must make its capital contribution as indicated in the company registration process.
Documents
The following are documents that you should prepare before submitting your application:
- The application for the formation of a limited liability company (LLC);
- The charter of the company;
- Members of the LLC;
- Individual members’ copies of identifying documents such as passports and ID cards;
- Copies of the establishment decision, business registration certificate, or other comparable documents (for organizational members); authorized representatives’ identification documents;
- Copies of the organizations’ registration paperwork that have been legalized by the consular (for foreign organizations);
- Certificate of Investment Registration (for overseas investors).
Consultation about Limited Liability Company registration
Our consulting services for the registration of Limited Liability Companies aim to assist you in all aspects of setting up your business in Vietnam. Our knowledgeable advisors will lead you through the entire process, from completing initial paperwork to acquiring the required permits and registrations, to ensure a seamless and effective process. We offer tailored advice on legal obligations, share capital, and company structure to help you make well-informed decisions that are in line with your business objectives.
Ownership management
Taking care of the ownership of a Limited Liability Company can be complicated yet vital. Our offerings involve managing adjustments in ownership, overseeing beneficial owners, and supervising ownership transfers. We guarantee that all ownership modifications are adequately recorded and adhere to current regulations.
Corporate structure changes
As your business grows, your corporate structure may also need to evolve. If you require any modifications such as changing directors, updating nominee information, or making other structural adjustments, we offer thorough services to help facilitate these changes effectively and efficiently.
Share capital management
Managing share capital is crucial for the financial well-being of your company. We provide services to assist you in raising, lowering, selling, and transferring share capital, guaranteeing that all transactions are conducted correctly and in compliance with the law.
Other legal forms in Vietnam
In Vietnam, the four most frequent types of legal entities are:
- Limited Liability Company (LLC),
- Joint-stock Company,
- Incorporated Partnership,
- Representative Office.
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