Vietnam Business Law is a website managed by lawyers of Venture North Law Limited (VNLaw). Venture North Law Limited (VNLaw) is a Vietnamese commercial law firm. We won the Rising Law Firm of the Year Award at the Southeast Asia Law Awards for the years 2020 and 2021 held by The Legal 500. Very few Vietnamese law firms have achieved a similar regional recognition.
Posted in: Corporate
Under Decision 41/2015 issued on 15 September 2015, the Prime Minister introduced a raft of new measures to facilitate the sale of State shares in public unlisted joint stock companies with (Unlisted JSC). The new measures do not apply to State shares in listed JSCs include JSCs registered for trading on Upcom market. In particular,
Under Article 23 of the Investment Law 2014, economic organisation with foreign investment capital (including 51% Top-Level Foreign EOs And 51% Low-Level Foreign EO/ Domestic) (collectively, “Foreign-Controlled Companies”), except for investment in securities, credit institutions, insurance business and oil and gas will be subject to the investment procedures and conditions applicable to foreign investors when(i) setting up a new enterprise; (ii) acquiring shares in existing private enterprises and (iii) entering into a Business Operation Contract.
From 1 October 2015, foreign investors investing public companies and listed securities in Vietnam will be subject to a Circular 123/2015 issued in August 2015 replacing Circular 213/2012. The following are some key points of Circular 123/2015:
The Enterprise Law 2014 now seems to allow the charter of a Multiple LLC to provide for voting thresholds lower than the default thresholds (i.e. 65% for simple majority and 75% for supermajority). Under the Enterprise Law 2014, unless otherwise provided by the charter, a resolution of the Members’ Council of a multiple members limited liability company (Multiple LLC) will be approved in a meeting of the Members Council, if: