General information:
A joint-stock company is a limited liability 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 on the maximum number of shareholders in such companies.
The management of a joint-stock company comprises 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 established by foreign investors may take the form of either:
A 100% foreign-owned company (where all shareholders are foreign investors).
A foreign-invested joint venture company between both foreign investors and at least one local Vietnamese partner.
Foreign investors are allowed to apply for a long-term multiple entry visa, or a temporary resident card in Vietnam without requiring a work permit.
A Foreign director if he/she is not an owner/member of a joint-stock company, he/she will require a work permit and must have at least 2-3 years working experience in a management position.
Director/General Director of a joint-stock company must reside in Vietnam, if he/she is away for longer than 30 calendar days then he/she must appoint one authorized representative for the absence duration.
1. For 100% Foreign Own Company, In Which All Members Are Foreign Investors:
2. For Foreign-Invested Joint Venture Company Between Foreign Investors And At Least One Local Vietnamese Partner:
TIMELINE TO COMPLETE: One month to process all documentation and have finalised for collection. For more information, please contact us by info@hnhconsultand.com or to our hotline