Hi DMS Law office in Vietnam! Could you advise me about corporate split-ups in Vietnam ? How do we split one company into two or more independent, separately-run companies ?
Limited liability companies and shareholding companies may split their shareholders, members and assets in order to establish two or more new companies in one of the following cases:
- Part of capital contribution or shares of members or shareholders together with assets corresponding to the value of the share of capital contribution or shares shall be distributed to new companies in accordance with the percentage of ownership in the company being divided and corresponding to the value of assets transferred to new companies;
- All of capital contribution or shares of one or more members or shareholders together with assets corresponding to the value of their shares or capital contribution shall be transferred to new companies;
- Combination of two cases in Points a, b of this Clause (Clause 1 Article 192 Law on Enterprises No.68/2014/QH13 dated 11/26/2014).
The company being divided shall cease to exist after the new companies are issued with an enterprise registration certificate. The new companies must be jointly liable for unpaid debts, labour contracts and other property obligations of the company being divided or shall agree with creditors, customers and employees in order for one of such companies to perform such obligations.
Corporate spin-off in Vietnam
Acquisition of an enterprise, buying a business in Da Nang
Consolidation vs. Merger of companies
Phone: 0914 165 703 or email: email@example.com
Split-up in Vietnam
Thi-Ha Nguyen, ACCA
|DMS Law firm in Vietnam
Lawyer Do Minh Son
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