Age to establishing an enterprise

Age to establishing an enterprise

Age to establishing an enterprise

Age to establising an enterprise With the current market economy, a significant of enterprises are being established; So along with it, the subjects to start-up are in very different ages. The law regulates the age of establishing an enterprise, and not everyone knows this. HNLaw & Partners would like to guide Customers as follows:

Regulations of age to establishing an enterprise

According to Article 18 Law on Enterprises stipulating the right to establish, contribute capital, buy shares, buy contributed capital and manage enterprises of organizations and individuals:
“Organizations and individuals have the right to establish and manage enterprises in Vietnam in accordance with this Law, except following organizations and individuals may not establish and manage enterprises in Vietnam:

– State agencies, units of people’s armed forces using state assets to establish business enterprises to make profits for their own organizations or units;

– Cadres, civil servants and public employees as prescribed by the laws on cadres, civil servants and public employees;

–  Officers, non-commissioned officers, career army men, national defense workers and public employees in agencies and units of the People’s Army; officers, career non-commissioned officers in agencies and units of the People’s Public Security, except those who are appointed to act as authorized representatives to manage the State-contributed capital amounts in the enterprises;

– Managers and professional managers in state enterprises, except those appointed to be authorized representatives to manage the state-contributed capital amounts in other enterprises;

– Minors; persons whose civil act capacity is restricted or lost; organizations without legal person status;

– Persons being examined for penal liability, serving prison sentences or administrative handling decisions at compulsory detoxification establishments or compulsory educational institutions or persons banned from conducting business, holding certain  posts or performing certain jobs related to business under court decisions; other cases prescribed by the laws on bankruptcy and corruption prevention and combat.

If requested by the business registration agency, enterprise founding registrants shall submit their judicial record cards to the business registration agency.”

Adults described according to Article 20 of Civil Code 2015 as follows:

– Adults are persons who are eighteen years of age or older.

– Each adult shall have full legal capacity, except for the cases prescribed in laws.

 Therefore, the age of participation in establishing or contributing capital to an enterprise must be at least eighteen years of age. In addition, the Law does not limit the age of establishment and capital contribution to enterprises.

Above is the consult for “Age to establishing an enterprise” of HNLaw & Partners. Customers who have any questions or needs to use legal services please contact the Company directly for detailed consult and best support.

For more details please contact:

HNLAW & PARTNERS LAW FIRM

Address: DBS Building, N028, Lot 31, Commercial Services and Housing Area in Ha Tri, Ha Tri Ward, Ha Dong, Hanoi.

Email: tuvan.hnlaw@gmail.com

Hotline: 0912.918.296

http://www.hnlaw.vn/en/enterprise-consultancy/

https://en.wikipedia.org/wiki/Enterprise

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