Regulations on registration of establishment of cooperatives and cooperative unions in Vietnam as of July 1, 2024

Regulations on registration of establishment of cooperatives and cooperative unions in Vietnam as of July 1, 2024 (Internet image) 

Regarding this matter, LawNet would like to answer as follows:

On June 20, 2023, the National Assembly officially passed the Cooperative Law 2023.

Regulations on registration of establishment of cooperatives and cooperative unions in Vietnam as of July 1, 2024

Pursuant to Article 42 of the Cooperative Law 2023, regulations on registration to establish cooperatives and cooperative unions are as follows:

- Before starting its operations, the person authorized to register the establishment of the cooperative or cooperative union (hereinafter referred to as “authorized person”) shall follow procedures for registration of its establishment with the business registration authority in charge of area where it will be located.

- An application for registration of establishment of a cooperative or cooperative union includes:

+ The application form;

+ The charter;

+ The resolution of the establishment meeting;

+ The list of official members and contributing members;

+ The list of legal representatives who are Vietnamese citizens, in which their personal identification numbers must be specified; the list of legal representatives who are foreigners, accompanied with copies of their legal documents;

+ The copy of the investment registration certificate as prescribed in Point b Clause 1 Article 30 of the Cooperative Law 2023;

+ The copy of the investment registration certificate for the project on establishment of a cooperative or cooperative union in case the cooperative or cooperative union is established by individuals that are foreign investors or foreign-invested organizations as prescribed in the Law on investment.

- The authorized person shall provide adequate, truthful and accurate information prescribed in Clause 2 of Article 42 of the Cooperative Law 2023, and assume legal responsibility for their provided information.

- Within 03 working days from the receipt of the application, the business registration authority shall consider the validity of the application and issue the cooperative registration certificate. In case of invalid application, the business registration authority shall request the applicant in writing to make necessary modifications. If an application is refused, a written notice indicating reasons for refusal shall be given.

More details can be found in Cooperative Law 2023, which takes effect on July 1, 2024, except for the provisions in Clauses 3 and 4, Article 115 of the Cooperative Law 2023, which takes effect on September 1, 2023.

The Cooperative Law 2012 expires from the effective date of the Cooperative Law 2023, except for the provisions in Clause 5, Article 115 of the Cooperative Law 2023.

To Quoc Trinh

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