Contributed assets in Vietnam

When investing in Vietnam, one of the most concerning matters of foreign investors is capital contribution. Because there are many differences between legal systems as well as new regulations issued in Vietnam, many investors get some troubles in this field. To give our clients a hand, Viet An Law Firm collects and list some facts as follows:

Contributed assets:

• Vietnam Dong, convertible foreign currencies;
• Gold;
• Land-use right value;
• Intellectual property right value;
• Technologies, technical secrets;
• Other assets which can be assessed in Vietnam Dong.

Transfer ownership of contributed assets:

• Procedures for ownership transfer:
• Applied to assets which are compulsory for ownership registration;
• Sole proprietorship is exempt from this.
• Minutes of contributed assets transfer:
• Applied to assets which are not compulsory for ownership registration;
• Contents of the minutes: name and address of the company; full-name, permanent address, the number of ID card/passport/equivalent papers of individuals; the number of establishment decision or registration of organizations; types and quantities of contributed assets; total value of contributed assets and the ratio of them in the charter capital of the company, the date of transfer and signatures of contributors or authorized representatives of contributors and the legal representative of the company.

Assessing contributed assets:

• Applied to assets which are not Vietnam Dong, convertible foreign currencies, gold;
• Conducted by members, founding shareholders, owner, the Board of members of limited liability company or partnership, the Board of Directors of joint-stock company (depends on the time of establishment or after that) or professional valuation organizations;
• Assessed value shall be expressed in Vietnam Dong.

Duration for contribution:

Within 90 days from the date of issuance of the Certificate of Business Registration, contribution process must be completed.

If clients have any concern about the law on investment and enterprise in Vietnam, please contact Viet An Law Firm for more information!