Can the Owner of a Private Enterprise Also Be a Household Business Owner?

View Post in Vietnamese: >> Chủ doanh nghiệp tư nhân có được là chủ hộ kinh doanh không?

I am currently engaged in the business of cosmetics, operating as a sole proprietorship. I would like to open a product line for sale in my hometown and establish a household business, with myself listed as the owner in the documents. According to current business law regulations, is it permissible to do so?

Pursuant to Clause 3, Article 188 of the Law on Enterprises 2020 (effective from January 1, 2021) stipulates as follows:

- A private enterprise is an enterprise owned by an individual who is solely responsible for all activities of the enterprise with all of their assets.

- Private enterprises are not allowed to issue any type of securities.

- Each individual is only allowed to establish one private enterprise. The owner of a private enterprise is not allowed to concurrently be the owner of a household business or a member of a partnership company.

Thus, in accordance with the above provisions, it can be seen that the owner of a private enterprise is not allowed to concurrently be the owner of a household business. Therefore, you cannot simultaneously be both the owner of a private enterprise and the owner of a household business.

Respectfully!

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