Law on Enterprises 2014, Law No. 68/2014/QH13

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ATTRIBUTE Law on Enterprises 2014

Law No. 68/2014/QH13 dated November 26, 2014 of the National Assembly on Enterprises
Issuing body: National Assembly of the Socialist Republic of VietnamEffective date:
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Official number:68/2014/QH13Signer:Nguyen Sinh Hung
Type:LawExpiry date:
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Issuing date:26/11/2014Effect status:
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Fields:Enterprise

SUMMARY

FROM JULY, 2015, ENTERPRISES MAY DECIDE ON THE APPEARANCE, QUANTITY OF SEAL

From July 01, 2015, enterprises may decide on the appearance, quantity and content of seal and before using a seal, an enterprise shall notify the seal specimen to the business registration agency for publicly posting on the national enterprise registration portal. These are significant contents as prescribed under the Law No. 68/2014/QH13 on Enterprises approved by the National Assembly on November 16, 2014.

Under this law, limited liability companies and joint stock companies may have one or more than one at-law representative, of which at  least  one  at-law  representative resides in Vietnam. An enterprise shall ensure that at least one at-law representative resides in Vietnam. In case an enterprise has only one at-law representative, such  person  must  reside  in  Vietnam  and  shall,  upon  leaving  Vietnam, authorize in writing another person to exercise the rights and perform the obligations of the at-law representative.

Another significant point is regulation on omission of business sectors in enterprise registration certificate. From July 01, 2015, enterprise name and identification number, head office address of the enterprise; charter capital and information of the at-law representative of the enterprise, information of the general partners for partnerships; of the enterprise owner for private enterprises… The at-law representative of an enterprise shall register the changes in the contents of the enterprise registration certificate within 10 working days after making the changes. After being granted an enterprise registration certificate, an enterprise shall publicly announce the enterprise registration on the National Enterprise Registration Portal within 30 days.

Especially, The Law also stressed, from July 01, 2015, business households that use 10 employees or more must carry out enterprise registration; for small-scale business households, the business registration and operation must comply with the regulations of the Government.

This Law takes effect on July 1, 2015 and replaces the Law No. 60/2005/QH11 on Enterprises and June 20, 2013 Law No. 37/2013/QH13 amending and Supplementing Article 170 of the Law on Enterprises.
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TTXVN

THE PRESIDENT

 
No. 28/2014/L-CTN
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
 
Hanoi, December 8, 2014
 
ORDER
On the promulgation of law[1]
 
THE PRESIDENT OF
THE SOCIALIST REPUBLIC OF VIETNAM
 
Pursuant to Articles 88 and 91 of the Constitution of the Socialist Republic of Vietnam;
Pursuant to Article 91 of the Law on Organization of the National Assembly;
Pursuant to Article 57 of the Law on Promulgation of Legal Documents,
 
PROMULGATES
 
The Law on Enterprises,
which was passed on November 26, 2014, by the XIIIth National Assembly of the Socialist Republic of Vietnam at its 8th session.-
 
President of the Socialist Republic of Vietnam
TRUONG TAN SANG
 
 


 
THE NATIONAL
ASSEMBLY
 
No. 68/2014/QH13
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
 
 
 
Law on Enterprises[2]
 
Pursuant to the Constitution of the Socialist Republic of Vietnam;
The National Assembly promulgates the Law on Enterprises.
 
Chapter I
GENERAL PROVISIONS
 
Article 1. Scope of regulation
This Law prescribes the establishment, management organization, reorganization and dissolution of, and activities related to, enterprises, including limited liability companies, joint stock companies, partnerships and private enterprises; and prescribes corporate groups.
Article 2. Subjects of application
1. Enterprises.
2. Agencies, organizations and individuals involved in the establishment, management organization, reorganization and dissolution of, and activities related to, enterprises.
Article 3. Application of the Law on Enterprises and specialized laws
In case a specialized law contains particular provisions on the establishment, management organization, reorganization and dissolution of, and activities related to, enterprises, such law must prevail.
Article 4. Interpretation of terms
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[1] Công Báo Nos 1175-1176 (30/12/2014)
[2] Công Báo Nos 1175-1176 (30/12/2014)

 

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