Can a person be a Director of a branch and a single-member limited liability company at the same time in Vietnam?
Can a person be a Director of a branch and a single-member limited liability company at the same time in Vietnam?
Can a person be a Director of a branch and a single-member limited liability company at the same time in Vietnam? (Image from the Internet)
Pursuant to Article 81 of the Enterprise Law 2014 stipulating:
- The Board of members or the company's President shall designate or hire Director/General Director, the term of office of whom does not exceed 05 years, to administer the company’s everyday business operation. The Director/General Director is legally responsible to the Board of members or the company's President for fulfillment of his/her rights and obligations. The Chairperson of the Board of members, other members of the Board of members, or the company's President may concurrently hold the position of Director (General Director), unless otherwise prescribed by law or the company’s charter.
- The Director/General Director has the following rights and obligations:
+ Organize the implementation of decisions of the Board of members or the company's President;
+ Decide the issues related to the company’s everyday business operation;
+ Organize the implementation of the company’s business plans and investment plans;
+ Promulgate the company’s rules and regulations;
+ Designate, dismiss the company’s managers, except for those under the management of the Board of members or the company's President;
+ Sign contracts on behalf of the company, except for those within the competence of the Chairperson of the Board of members or the company's President;
+ Propose organizational structure plan;
+ Submit annual financial statements to the Board of members or the company's President;
+ Propose plans for use of profits or loss settlement;
+ Hire employees;
+ Perform other rights and obligations prescribed in the company’s charter, employment contract between Director/General Director and the Chairperson of the Board of members or the company's President.
- The Director/General Director must:
+ be legally competent and not be any of the persons mentioned in Clause 2 Article 18 of this Law;
+ has qualifications and actual experience of the company’s administration, unless otherwise prescribed by the company’s charter.
=> Thus, there are currently no restrictions on the director of a single-member limited liability company on this issue. So if the company appoints you as a branch director and at the same time as a director of the company, it is still not against the regulations.
Above is the support content.
Best regards!
