What are procedures for reception of new partners of notary offices in Vietnam from July 1, 2025?

What are procedures for reception of new partners of notary offices in Vietnam from July 1, 2025?​ (Image from the Internet)

What are procedures for reception of new partners of notary offices in Vietnam from July 1, 2025?

According to the provisions of Article 28 of the Notary Law 2024, the reception of new general partners for the Notary Office in Vietnam from July 1, 2025, is implemented as follows:

- The Notary Office has the right to receive new general partners if approved by at least three-fourths of the total number of general partners.

The new general partner must contribute the committed capital to the Notary Office within 15 days from the date of approval to become a general partner. After the new general partner has contributed the committed capital, the Notary Office must submit an application to change the registered business activity content due to the addition of that general partner.

- In the case where a general partner of the Notary Office dies or is declared dead by a court, the heir of that general partner can become a general partner of the Notary Office if they are a notary and are approved by at least three-fourths of the remaining general partners.

What are guidelines for the transfer of the entire capital contribution of all general partners of the Notary Office in Vietnam from July 1, 2025?

The transfer of the entire capital contribution of all general partners of the Notary Office is carried out according to the provisions of Article 30 of the Notary Law 2024 as follows:

- After the Notary Office has been operational for at least 2 years, all general partners of the Notary Office have the right to transfer the entire capital contribution to at least 2 other notaries who meet the conditions stipulated in clause 2 of Article 30 Notary Law 2024.

- Notaries receiving the capital contribution transfer pursuant to clause 1 of Article 30 Notary Law 2024 must meet the following conditions:

+ Have practiced notarization for at least 2 years for those proposed to be the Head of the Notary Office;

+ In cases where they were already a general partner or Head of a Notary Office organized and operated as a private enterprise, a period of 2 years must have elapsed from the date of termination of general partner status or from the date no longer being the Head of such Notary Office;

+ Commitment to practice as a general partner at the Notary Office where they are receiving the capital contribution transfer.

- The provincial People's Committee considers and decides on permission to transfer the entire capital contribution of all general partners of the Notary Office.

- The status of a general partner of a notary who transfers their entire capital contribution is terminated upon the issuance of a new registration certificate for the Notary Office by the Department of Justice.

- Within the 2 years following the termination of general partner status, the notary who has terminated their status remains jointly responsible with all their assets for the debts of the Notary Office arising during the time they were a general partner of that Notary Office; after this period, the notary may establish or participate in establishing a new Notary Office, become a general partner in another Notary Office, or acquire a Notary Office organized and operating as a private enterprise.

Refer to more details to the Notary Law 2024 effective from July 1, 2025.

The Notary Law 2014 ceases to be effective from the date the Notary Law 2024 comes into effect, except for the cases specified in clauses 1, 2, 3, 6, 7, 9, 11, 12, and 14 of Article 76 Notary Law 2024.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE