I. Capital contribution assets

Pursuant to Article 34 of the Enterprise Law 2020, it is stipulated as follows:

• Capital contributed assets are Vietnamese Dong, freely convertible foreign currencies, gold, land use rights, intellectual property rights, technology, technical know-how, and other assets that can be valued in Vietnamese Dong.
• Only individuals and organizations that are legal owners or have legal use rights to assets specified in Clause 1 of this Article have the right to use those assets to contribute capital according to the provisions of law.

Accordingly, individuals and organizations can only use Vietnamese Dong, freely convertible foreign currencies, gold, land use rights, etc. to contribute capital to establish a company when those assets are legally owned by the organization. organizations, individuals or have legal rights to use.

II. Time capital contribution term

LLC with two or more members:

Members must contribute capital to the company in full and with the right type of assets as committed when registering to establish a business within 90 days from the date of issuance of the Business Registration Certificate, excluding transportation and import time. Export assets contributed as capital, carry out administrative procedures to transfer asset ownership. During this period, members have rights and obligations corresponding to the committed capital contribution ratio. Company members can only contribute capital to the company with assets other than the committed assets if approved by more than 50% of the remaining members.

Accordingly, members of a limited liability company with two or more members must contribute in full and of the correct type of assets as committed within 90 days from the date of issuance of the Business Registration Certificate.

One-member limited liability company:

The company owner must contribute capital to the company with sufficient and correct assets as committed when registering to establish a business within 90 days from the date of issuance of the Business Registration Certificate, excluding operation time. Transfer and import capital contribution assets, carry out administrative procedures to transfer asset ownership. During this period, the company owner has rights and obligations corresponding to the committed capital contribution.

Thus, the owner of a one-member limited liability company must contribute capital to establish the company in full and with the correct assets as committed within 90 days from the date of issuance of the Business Registration Certificate.

Joint stock company:

Shareholders must pay in full for the number of shares registered to purchase within 90 days from the date of issuance of the Business Registration Certificate, unless the company charter or the share purchase registration contract stipulates a Other shorter periods. In case a shareholder contributes capital with assets, the time for importing and carrying out administrative procedures to transfer ownership of that asset is not included in this capital contribution period. The Board of Directors is responsible for supervising and urging shareholders to pay in full and on time for shares registered to buy.

Accordingly, the shareholders of a joint stock company must pay in full for the number of shares registered to buy within 90 days from the issuance of the Business Registration Certificate.

Partnership company:

Partnership members and capital contributing members must contribute the committed capital amount in full and on time. Accordingly, partnership members and capital contributing members must contribute sufficient capital to establish the company and the correct type of assets as committed.

According to this regulation, there is no limit on the time to contribute capital to establish a partnership company. The capital contribution to establish a partnership will be carried out on the principle of agreement between members so that the capital contribution time is reasonable so that the company can go into production and business activities.

III. About Us, Hankuk Law Firm

■ Hankuk Law Firm – Introduction

The goal of the legal services provided by HANKUK LAW FIRM is to support businesses, investors, and people. Our organization employs skilled Korean lawyers, partners, and professionals to provide legal services to businesses related to corporations and litigation.

To support the startup process, our lawyers and staff provide a wide range of services, including business law consulting, tax and immigration law consulting, real estate services, business consulting, marketing and communications, human resources, product distribution, franchise options, etc. We provide expert advice on every aspect of your business needs.

To protect the legitimate rights and interests of our clients and achieve the best results, we provide legal advice and participate in civil lawsuits related to business, labor, marriage, family, and inheritance.

■ Contact us now

For reliable and effective legal advice, please contact HANKUK LAW FIRM now. We are committed to providing you with the best possible answers and our team of experienced lawyers has extensive knowledge in many legal fields. We are always here to provide the most competent and dedicated support, whether you are dealing with contractual issues, commercial disputes or need guidance on foreign investment. HANKUK LAW FIRM is honored to have assisted hundreds of domestic and international clients in skillfully resolving complex legal issues as their trusted legal partner. Do not let legal issues hinder your success. Let us accompany you towards legal achievement and comfort. For prompt guidance and support to ensure your rights are always maintained at the highest standards, contact HANKUK LAW FIRM now.

■ Contact Hankuk Law Firm

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