Enterprise - Investment

Who is the legal representative in different types of businesses in Vietnam?

10:09, 11/02/2021

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: The company shall have at least one legal representative who holds the title of President of the Board of Members, the company’s President or Director/General Director. Unless otherwise prescribed by the company's charter, the President of the company or President of the Board of Members shall be the company’s legal representative. - In case the company’s owner is an individual: Unless otherwise prescribed by the company's charter, the President of the company shall be the company’s legal representative. The company should detail the legal representative in the company's charter, the law does not limit or appoint the legal representative of a one-member limited liability company owned by 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

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn