Two of the common types in Vietnam are Joint Stock Company and Limited Liability Company with two or more members. This article will help readers better understand these two types of businesses so that they can make the most appropriate choice:
|Criteria||Joint Stock Company||Limited liability company with two or more members|
|Number of members / Shareholders||Minimum of 3 shareholders and unlimited maximum number of shareholders||Minimum of 2 members and not exceeding 50 members|
|The manager of the company||Chairman of Board of Directors, members of Board of Directors, Director or General Director and other individuals holding managerial positions||Chairperson of the Board of members and member of the Board of members
Every member of limited liability company has the right to manage the company
|Capital contribution||– Shareholders must pay in full for the number of shares registered to buy within 90 days from the date of being granted the business registration certificate.
– Founding shareholders must register to buy at least 20% of the total number of ordinary shares that can be offered for sale at the time of business registration.
|Contribute capital to the company in full and in the right type of assets as committed when registering the enterprise establishment within 90 days from the date of being granted the business registration certificate. A member of the company may only contribute capital to the company with assets other than the type of property committed if approved by the majority of the remaining members.|
|Capital mobilization||Issued shares and bonds||– Do not issue shares
– Issued bonds
|Capital transfer||– Shareholders have the right to freely transfer their shares to others
– Within 03 years from the date on which the company is granted a business registration certificate, founding shareholders may only transfer their ordinary shares to non-founding shareholders if approved. of the General Meeting of Shareholders
|— Freely transfer contributed capital but prioritize transfer to members of the company|
Board of members, Chairman of the Board of members, Director / General Director, Supervisory Board (a company with fewer than 11 members is not required to establish a Control Board)
|There are two models:
1. The General Meeting of Shareholders, the Board of Directors, the Control Board, the Director or the General Director (a company with less than 11 shareholders and institutional shareholders holding less than 50% of the total number of shares is not required. must have a Control Board);
2. The General Meeting of Shareholders, the Board of Directors, the Director or the General Director (at least 20% of the members of the Board of Directors are independent members and have an internal audit committee attached to the Board of Directors) .
If you need to set up a business or further advice please contact phapluatdoanhnghiep. vn at hotline 0984624444 or email “firstname.lastname@example.org”.
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