Setting up a business in Hoi An, Vietnam.
Dear DBLegal Law Firm in Da Nang, Viet Nam. I am a foreigner that lives in Hoi An, Vietnam. I am considering to set up a new enterprise in HoiAn, Vietnam with the form of business being Joint- Stock Company. But I am still not having a clear understanding about this form. Please help to give advice on this matter.
Thank you for choosing DBLegal, Law Firm in Da Nang, Viet Nam.
Our answer is as follow:
A joint-stock company is a company in which the charter capital is split into multiple units of equal value called shares.
Under Vietnamese law, this is the only type of company that can issue shares.
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 governance of a joint-stock company includes 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 at least 11 shareholders, or if a corporate shareholders 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.
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