Requirements for legal entities to become members of cooperatives in Vietnam?

Vietnamese legal person must meet the requirements listed in Article 3 of the Decree No. 193/2013/NĐ-CP of Vietnam’s Government to become members of cooperatives, specifically as follows:

- Vietnamese legal persons defined by the Civil Code wish to cooperate with other members and have demands for products or services supplied by cooperatives.

- Vietnamese legal persons submit applications for voluntary accession to cooperatives and accept cooperatives’ statutes before being admitted to these cooperatives. Signatories of such applications must be the legitimate representatives of these legal persons.

- Representatives of legal persons at cooperatives are the legal representatives (legitimate representatives or authorized representatives) of these legal persons.

- Vietnamese legal persons make capital contributions in accordance with clause 1 of Article 17 in the Law on Cooperatives and cooperatives’ statutes.

- Vietnamese legal persons meet other requirements prescribed by cooperatives’ statutes.

Notwithstanding the requirements of clause 1 of Article 13 in the Law on Cooperatives, if individuals who are foreigners wish to participate in cooperatives in Vietnam, they must meet the following requirements:

- They are legally residing in Vietnam, aged 18 or over, have full civil capacity in accordance with Vietnamese laws.

- If they wish to participate in employment-generating cooperatives, they must fully meet Vietnamese laws on foreign workers.

- With respect to cooperatives operating in business sectors or industries subject to limits on capital ownership rates imposed upon foreigners, in order to be eligible to participate in cooperatives, they must comply with regulations enshrined in laws related to these sectors or industries.

- Foreign individuals must meet other requirements prescribed by cooperatives’ statutes.

View the full text at Decree No. 193/2013/NĐ-CP of Vietnam’s Government, effective from January 27, 2014

Thuy Tram

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