Who is the executive of an enterprise in Vietnam? What are contents of the enterprise registration application form in Vietnam?

Who is the executive of an enterprise in Vietnam?

Pursuant to Clause 24 Article 4 of the Law on Enterprises in 2020 stipulating the executive of an enterprise in Vietnam:

Definitions

For the purpose of this document, the terms below are construed as follows:

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24. “executive of an enterprise" means the owner of a sole proprietorship, a general partner of a partnership, chairperson or member of the Member/Partner Assembly, President of a company, President or member of the Board of Directors, Director/General Director, or holder of another managerial position prescribed in the company’s charter.

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As regulated above, the executive of an enterprise includes:

- The owner of a sole proprietorship, a general partner of a partnership;

- The chairperson or member of the Member/Partner Assembly, President of a company, President or member of the Board of Directors;

- The Director/General Director, or holder of another managerial position prescribed in the company’s charter.

Who is the executive of an enterprise in Vietnam? What are contents of the enterprise registration application form in Vietnam? - image from internet

What are contents of the enterprise registration application form in Vietnam?

Pursuant to Article 23 of the Law on Enterprises in 2020, the following information shall be provided in the enterprise registration application form:

- The enterprise’s name;

- The enterprise’s headquarters, phone number, fax number, email address (if any);

- The enterprise’s business lines;

- The charter capital (or investment capital if the enterprise is a sole proprietorship);

- Types of shares, face value of each type and total authorized shares of each type if the enterprise is a joint stock company;

- Tax registration information;

- Expected quantity of employees;

- Full name, signature, mailing address, nationality and legal documents of each partner (for partnerships) or the owner (for sole proprietorships);

- Full name, signature, mailing address, nationality and legal documents of the legal representative (for limited liability companies and joint stock companies).

Who are not allowed to establish enterprises in Vietnam?

Pursuant to Clause 1 Article 17 of the Law on Enterprises in 2020 stipulating the rights to establish, contribute capital, buy shares/stakes and manage enterprises:

The rights to establish, contribute capital, buy shares/stakes and manage enterprises

1. Organizations and individuals have the right to establish and manage enterprises in Vietnam in accordance with this Law, except for the cases specified in Clause 2 of this Article.

2. The following organizations and individuals do not have the right to establish and manage enterprises in Vietnam:

a) State authorities, People’s armed forces using state-owned assets to establish enterprises to serve their own interests;

b) Officials and public employees defined by the Law on Officials and the Law on Public Employees;

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As regulated above, the following entities do not have the right to establish enterprises in Vietnam:

- State authorities, People’s armed forces using state-owned assets to establish enterprises to serve their own interests;

- Officials and public employees defined by the Law on Officials and the Law on Public Employees;

- Commissioned officers, non-commissioned officers, career military personnel, military workers and public employees in agencies and units of Vietnam People’s Army;

Commissioned officers, non-commissioned officers and police workers in police authorities and units, except for those designated and authorized representatives to manage state-owned stakes in enterprises or to manage state-owned enterprises;

- Executive officers and managers of state-owned enterprises prescribed in Point a Clause 1 Article 88 of the Law on Enterprises in 2020, except those who are designated as authorized representatives to manage state-owned stakes in other enterprises;

- Minors; people with limited legal capacity; incapacitated people; people having difficulties controlling their behaviors; organizations that are not juridical persons;

- People who are facing criminal prosecution, kept in temporary detention, serving an imprisonment sentence, serving an administrative penalty in a correctional institution or rehabilitation center, has limited legal capacity or is incapacitated, is not able to control his/her own behaviors, is banned by the court from holding certain positions or doing certain works; other cases prescribed by the Law on Bankruptcy and the Anti-corruption Law.

If requested by the business registration authority, the applicant shall submit the judicial records;

- Juridical persons that are banned from business operation or banned from certain fields as prescribed by the Criminal Code.