VINASC: Setup joint stock company in Vietnam
Setup joint stock company in Vietnam
Setup joint stock company in Vietnam can be setup with i) 3 shareholders, who can be of any nationality and does not need to be resident in Vietnam.
Our Clients will also need to appoint 1 director must also be appoint as the company’s legal representative. If this individual is a foreigner, he/she will be required to i) travel to Vietnam ii) obtain a work permit and iii) show evidence of 12 months of experience on managing position.
The Vietnam public limited company (joint stock company (JSC))
Like those of a LLC, Vietnam joint stock company setup requirements by foreigners include
- provision of a bank certificate showing the availability of funds to be invest in Vietnam;
- the opening of a capital bank account;
- issuance of a foreign investment certificate and
- submission of an annual return and audited financial statements. Without which our Client will not be able to remit abroad
- his/her subsidiary’s earnings. If needed, Vinasc may also provide auditing service.
Joint stock companies are not require to list in Vietnam. To do so, a JSC must have
- a share capital of over US$475,000
- over 100 shareholders
- been profitable for the previous year and
- no overdue debt.
If needed, Vinasc will be pleased to assist our Clients with listing their company on the Ho Chi Minh City Stock Exchange.
A joint stock company can be a better alternative than a limited liability company if our Client is planning to form a business with several partners or plan to finance its business through the issuance of equity. In other cases, a limited liability company will usually do just as fine.
Finally, if you are interest in Vinasc’s Setup joint stock company in Vietnam, please contact us. As a result, we will send a letter of quotation for your consideration.