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Conditions and procedures of establishing entreprise Viet Nam

Updated At: 06:59 PM, 09/28/2009

Conditions of establishing an partnership:
According to Article 130 of the Law on Enterprises , individuals joining the partnership must meet the following conditions:

1. At least two members are co-owners of the company, together operate the business under a common name (hereinafter known as partner) in addition to the partner there’s sometimes member contributing capital ;

2. Partner must be a person responsible for all of the company’s obligations with all of his assets;

3. Members contributing capital are only liable for the debts of the company within the capital that they contributed to the company.

Besides individuals involved in establishing Partnership do not belong to the following guidelines (Paragraph 2 of Article 13 of the Enterprise Law):

a. State agencies, units of the armed forces of Vietnam use State assets to establish business enterprises for personal or organization’s profit ;

b. Officials and civil servants as prescribed by law on officials and civil servants ;

c. Officers, non-commissioned officers, professional military personnel, national defense staff in the agencies and units of the People's Army of Vietnam; officers, non-commissioned professional officers in the bodies and units of the Public Security of Vietnam;

d. The professional leader , managers in enterprises with 100% capital of state, except for those who are appointed as authorized representative to administer the State's contributed capital in other enterprises;

e. Juvenile; the vivil limited with civil act capacity or lost the capacity for civil acts;

e. Person who are serving their penalty or being banned from business by the Court ;

f. Other cases prescribed by law on bankruptcy.

Procedures of establishing partnerships:

As stipulated in Article 17 of the Law on Enterprises , individuals joining established companies must prepare the following documents:

1. Request for business registration form agreed by the competent business registration agency .

2. Draft of company’s charter .

3. List of members, copy of identity card, passport or legitimate personal certification of each member.

4. For enterprise of business required to have legal capital in accordance with the law , documents certifying the legal capital issued by competent agencies and organizations is needed .

5. For enterprise of business required to have practicing certificate in accordance with the law , practicing certificate of partner and other individuals is needed .

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