|Required number of
|One (individual or legal entity)||From 02 to 50 members (individual or legal entity)||At least three shareholders
(individual or legal entity)
|Organizational structure||President/ Members’ Council, Director/General Director, and Supervisor (if the owner is an organization)
||Members’ Council, a Chairperson, a Director/General Director and Supervision Board (if the number of member is 11 or more)||General Meeting of Shareholders, Board of Directors, the Supervision Board, and Director/General Director (If the joint-stock company has fewer than 11 shareholders and the shareholders being organizations hold less than 50% of total shares of the company, the Supervision Board is not necessary);
General Meeting of Shareholders, Board of Directors, and Director/General Director (at least 20% of members of the Board of Directors must be independent members and there must be an internal audit board affiliated to the Board of Directors)
|Property liability of members/
|Not exceeding the contributed capital or the capital promised to contribute
||Not exceeding the contributed capital or the capital promised to contribute||Not exceeding the amount of sold and registered shares|
|Issuing bonds||Not allowed||Not allowed||Allowed
|Issuing shares||Not allowed||Not allowed||Allowed
|Capital transfer||No restriction||Must offer to other members first;
If offered members do not buy or do not buy wholly within 30 days from the offering date, the offering member can offer to others people.
|In the first 03 years, only transfer to founding shareholders; transferring to others must be accepted by other founding shareholders.
After 3 years, no restriction imposed
Some of following business forms may be taken into consideration for the purpose of market exploration, survey and research. The procedures, requirements and conditions to set up such presences are much easier than those applied to company establishment.
Foreign nationals residing in Vietnam, are 18 years or older, with civil act capacity may be members of a cooperative. However, the cap on capital contribution is 20% of the charter capital of the cooperative.
- Representative Office (RO)