Open

HOTLINE:0932.329.482 - 0983.533.005

Who has the right to establish, contribute capital, buy shares, buy capital contributions and manage businesses?

29/01/2021

Enterprise Law No. 59/2020/QH14, which takes effect on January 1, 2021, has many changes to suit the development of the society. In which, regulations on who has the right to establish, contribute capital, buy shares, purchase capital contribution and manage an enterprise have some additional restrictions.

I. People with the right to establish and manage businesses

According to Clause 1, Article 17 of the Law on Enterprises 2020 stipulates: Organizations and individuals have the right to establish and manage enterprises in Vietnam, except for the following cases:

- State agencies, units of the people's armed forces use state assets to set up business enterprises to make profits for their own agencies or units;

- Cadres, civil servants and public employees according to the provisions of the Law on Cadres and Civil servants and the Law on Public Employees;

- Officers, non-commissioned officers, professional soldiers, defense workers and officers in agencies and units of the Vietnam People's Army; Professional officers and non-commissioned officers, police workers in agencies and units of the Vietnam People's Public Security, except for those appointed as authorized representatives to manage the State's capital contribution in enterprises or management at state-owned enterprises;

- Officers of professional leadership and management in house enterprises of which 100% charter capital is held by the State, except for those appointed as authorized representatives to manage the State's contributed capital in other enterprises;

- Minors; people with limited civil act capacity; people with loss of civil act capacity; people with cognitive difficulties and behavior mastery; organizations have no legal status;

- Persons who are being examined for penal liability, being held in custody, serving a prison sentence, serving an administrative handling measure at a compulsory detoxification establishment, compulsory education institution or being subject to a court prohibiting holding certain posts, practicing certain occupations or doing certain jobs; in other cases according to the provisions of the Bankruptcy Law, the Anti-Corruption Law

- The organization as a commercial legal entity is prohibited from doing business or operating in certain fields in accordance with the Penal Code.

II. Persons who have the right to contribute capital, buy shares, or buy capital contributions

According to Clause 3, Article 17 of the Law on Enterprises 2020 stipulates that: Organizations and individuals have the right to contribute capital, buy shares, buy capital contributions to joint stock companies, limited liability companies, partnerships, except for in the following cases:

- State agencies, units of the people's armed forces use state assets to contribute capital to enterprises to gain profits for their own agencies or units;

- Subjects not allowed to contribute capital to enterprises in accordance with the Law on Cadres and Civil Servants, the Law on Public Employees, and the Law on Anti-Corruption.

Thus, the Enterprise Law 2020 has added 3 additional subjects that are not allowed to establish enterprises:

- People with cognitive and behavioral difficulties;

- Public security workers in agencies and units of the Vietnam People's Public Security (except for those who are appointed as authorized representatives to manage the State's capital contribution in enterprises);

- The organization as a commercial legal entity is prohibited from doing business or operating in certain fields in accordance with the Penal Code.

Tin cùng loại

Tin mới nhất

CÔNG TY LUẬT TNHH KHOA TÍN

Địa chỉ Văn phòng Hà Nội: Số 28 - TT2, Khu đô thị HDMon, Đường Hàm Nghi, Quận Nam Từ Liêm, TP. Hà Nội

Địa chỉ Chi nhánh Hồ Chí Minh: OP 05.32 tòa nhà Orchard Parkview, số 130-132 Hồng Hà, Phường 9, Quận Phú Nhuận, TP. Hồ Chí Minh.