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Setting up a business in Da Nang, Vietnam

March 3, 2018 | Q&A

Dear DBLegal Law Firm in Da Nang, Viet Nam. I am a foreigner that lives in Da Nang, Vietnam. I am considering setting up a new enterprise in Danang Vietnam with the form of business being LLC. But I am still not having a clear understanding about this form. Please help to give advice on this matter.

Answer:

Thank you for choosing DBLegal, law firm in Da Nang, Viet Nam.

Our answer is as follow:

A limited-liability company is a legal entity established by its members through capital contributions to the company. The members of a limited-liability company are liable for the financial obligations of the limited-liability company to the extent of their capital contributions.
The management structure of a limited-liability company would normally consist of the “members’ council”, the chairman of the members’ council, the general director and a controller (or board of supervisors where the limited-liability company has more than 11 members).

A limited-liability company established by foreign investors may take the form of either:
• A 100% foreign-owned enterprise (where all members are foreign investors); or
• A foreign-invested joint-venture enterprise between foreign investors and at least one domestic investor.

There are two kinds of LLC: single-member limited liability companies and multi-member limited liability companies.

 

“DB Legal is a full legal service law firm in Da Nang, Viet Nam. Our Lawyers bring enormous legal experience for both local and foreign parties in Central Viet Nam, mainly areas in Da Nang, Hoi An, Nha Trang, Hue, Quy Nhon ,etc.

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