Limited Liability Company is a form of enterprise which is established by contributing of members. A member shall be liable for the debts and other property obligations of the enterprise within the amount of capital that he/she has undertaken to contribute to the company.
Limited liability companies are regulated by two types:
- One member Limited Liability Company is an enterprise owned by one organization or individual;
- Limited Liability Company with two or more members is an enterprise owned by organizations or individuals, in which the number of members shall not less than two members and not exceed fifty.
Organizational and management structure of Limited Liability Company normally comprise of a Member’s Council, General Director or Director.
A limited-liability company established by foreign investors may take the form of either:
100% foreign-owned enterprise (where all members are foreign investors); or;
Foreign-invested joint-venture enterprise between foreign investors and at least one domestic investor.
* THE PROCESS OF VIETNAM COMPANY REGISTRATION
The incorporation process of each legal entity type is different and takes from 1 to 3 months.
In general, foreign investors should pursue the process as follows:
- International investors are obliged to obtain an Investment Registration Certificate (IRC) from the Department of Planning and Investment (DPI).
- An Enterprise Registration Certificate (ERC), is the second mandatory document to be obtained during the registration procedure.
- After receiving both certificates, investors are obliged to proceed with their tax registration, pay business license tax and make their initial capital contribution.
This is just an overall look for setting up a new foreign limited liability company in Vietnam, we are one stop service provider to set up your company with a reasonable price; professional, quick and great service.
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