Is it permissible for 16-year-old people to join tontine in Vietnam? What is the eligibility age to become a tontine holder in Vietnam?

Is it permissible for 16-year-old people to join tontine in Vietnam?

Pursuant to Article 5 of the Decree 19/2019/NĐ-CP stipulating membership eligibility requirement in Vietnam as follows:

1. Member is a person aged at least 18 years of age and does not lack legal capacity, have limited legal capacity or have limited cognition or behavior control as prescribed in the Civil Code.

A person aged from fifteen to under eighteen having private property may become a tontine member. If the private property is real estate or movable property required for registration to participate in the tontine, he/she must obtain the consent of his legal representative.

2. Other requirements as agreed upon among tontine members.

In your case. You may become a tontine member if you have private property. If the private property is real estate or movable property required for registration to participate in the tontine, you must obtain the consent of legal representative.

What is the eligibility age to become a tontine holder in Vietnam?

Pursuant to Article 6 of the Decree 19/2019/NĐ-CP stipulating tontine holder eligibility requirements in Vietnam as follows:

1. Tontine holder is a person aged at least 18 years of age and does not lack legal capacity, have limited legal capacity or have limited cognition or behavior control as prescribed in the Civil Code.

2. If members self-organize a tontine group, the tontine holder is a person who is voted by more than a half of members, unless otherwise agreed by members.

3. Other requirements as agreed upon among tontine members.

Tontine holder is a person aged at least 18 years of age. In addition, tontine holders must satisfy other requirements as above regulations.

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