Limited Liability Company with Two or More Members is Still Allowed to Issue Shares
Based on Clause 3, Article 46 of the Law on Enterprises 2020 (Effective from January 1, 2021), the provisions are as follows:
- A limited liability company with two or more members shall have legal entity status from the date of issuance of the Enterprise Registration Certificate.
- A limited liability company with two or more members is not allowed to issue shares, except in the case of conversion to a joint-stock company.
Therefore, a limited liability company with two or more members can issue shares in the case of conversion to a joint-stock company.
Sincerely!
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