SBLaw would like to provide you the legal procedure for formation of joint stock company in Vietnam as follows:
1.Legal frame for Joint-stock company in Vietnam
A joint-stock company is a legal entity established by its founding shareholders based on their subscription for shares in the company.
Under Vietnamese law, this is the only type of company that can issue shares. The charter capital of a joint-stock company is divided into shares and each founding shareholder holds a number of shares that corresponds to the amount of capital the shareholder has contributed to the company.
A joint-stock company is required to have at least three shareholders. There is no limit to the maximum number of shareholders in such companies.
The management structure of a joint-stock company is comprised of the general meeting of shareholders, the board of management, the chairman of the board of management, the general director and a board of supervisors (where the joint stock company has more than 10 individual shareholders or if a corporate shareholder holds more than 50% of the shares of the joint-stock company).
A joint-stock company may either be 100% foreign-owned or may take the form of a joint venture between both foreign and domestic investors.
2.Roadmap for setting up joint stock company
The roadmap for setting up joint stock company in Vietnam can be described in following steps as follows:
2.1.Preparing the application dossier: We shall collect necessary information and documents from you. Upon receipt of necessary information and documents from you, we shall translate documents from English into Vietnamese and prepare the application dossier under the standard forms. The initial drafted application dossier shall be sent to you for your comments. Then, after updating the application dossier based on your comments, we shall obtain the preliminary comments from the competent authority and send the finalized application dossiers for you to sign and seal. We anticipate that this phase shall be completed within 05-07 working days.
2.2.Submission of application dossier: Within 02 working days from receipt of duly signed and sealed application dossier, we shall submit the application dossier to the competent authority. It shall take from 15 workings days from submission of application dossier to the competent authority for the provincial licensing authority to grant the Investment Certificate.
2.3.Post licensing: Within 10 working days we shall complete the post licensing procedures such as publishing the New Company in News Paper, obtaining seal and tax code registration.
3.Our scope of work
| SCOPE OF SERVICES |
Preparation of the application documents:
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Licensing procedures:
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Post-licensing procedures:Upon the issuance of the investment certificate, the NewCo shall be required to carry out immediate administrative procedures.Our services include:
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4.Our delivarables
The Deliverables will include documents prepared in Vietnamese as required for submission to licensing bodies.
You will review, approve and where necessary sign these documents.
SBLaw may provide English translations of these documents (or extracts thereof), but the translated documents should be used for reference other the purposes of discharging your responsibility for the positions taken and the underlying company information.
