From January 1, 2021, Law on Enterprise 2020 has officially taken effect and completely replace Law on Enterprise 2014 . Thus, according to the Enterprise Law 2020, who is the legal representative in different types of businesses in Vietnam?
Who is the legal representative in different types of businesses in Vietnam? (Illustration)
According to the provisions of Vietnam's Law on Enterprise 2020, depending on the type of business, the legal representative will be different, specifically:
The type of enterprise | The enterprise’s legal representative | Legal Basis |
Sole proprietorships | The sole proprietorship’s owner | Clause 3, Article 190 of Vietnam's Law on Enterprise 2020 |
Partnerships | General partners | Clause 1, Article 184 of Vietnam's Law on Enterprise 2020 |
Single-member limited liability company |
- In case the company’s owner is an enterprise:
- In case the company’s owner is an individual:
|
Clause 3, Article 79 of Vietnam's Law on Enterprise 2020 |
Multiple-member limited liability company |
- A company shall have at least one legal representative who holds the title of President of the Board of Members, Director/General Director. - Unless otherwise prescribed by the company's charter, the President of the Board of Members shall be the company’s legal representative. |
Clause 3, Article 54 of Vietnam's Law on Enterprise 2020 |
Joint stock company |
- If the company has only one legal representative, the President of the Board of Directors or the Director/General Director shall be the legal representative. - The President of the Board of Directors shall be the company’s legal representative unless otherwise prescribed by the company's charter. - If the company has more than one legal representative, the President of the Board of Directors and the Director/General Director shall be the company’s legal representatives. |
Clause 2, Article 137 of Vietnam's Law on Enterprise 2020 |
Le Vy
- Key word:
- Law on Enterprise 2020 of Vietnam