Question
My company wants to use services on procedures for transfer of ownership of assets contributed as capital by members of company ? Law office in Danang, Vietnam advise on this issue ?
Answer
Transfer of ownership of assets contributed as capital ?
Members of a limited liability company or partnership and shareholders of a shareholding company must transfer ownership of assets contributed as capital to the company in accordance with the following provisions:
In respect of assets with registration of ownership or value of land use rights, the person contributing capital must carry out the procedures to transfer the ownership of such assets or the land use rights to the company at a competent State agency.
Registration fees shall not be payable in respect of a transfer of ownership of assets contributed as capital.
In respect of assets without registration of ownership, capital contribution must be made by handing over assets contributed as capital, as evidenced by minutes. The minutes of such hand-over must specify the name and address of the head office of the company; full name, permanent residential address, number of identity card, passport or other lawful personal identification, number of establishment decision or registration of the person contributing capital; type of asset and number of units of assets contributed as capital; total value of assets contributed as capital and percentage of the total value of such assets in the charter capital of the company; date of hand-over; signatures of the person contributing capital or of the authorized representative of the person contributing capital and of the legal representative of the company.
Shares or share of capital contribution by way of assets which is not denominated in Vietnamese Dong, freely convertible foreign currency or gold shall be deemed to have been paid only when the legal ownership of the assets contributed as capital has been transferred to the company.
Procedures for transfer of ownership to the enterprise are not required where the asset is used for the business operations of the owner of a private enterprise.
All payments for any purchase, sale or transfer of shares and share of capital contribution and the receipt of dividends by foreign investors must be made through capital accounts of such investors opened at banks in Vietnam, except for payment by assets (Article 36 Law on Enterprises 68/2014/QH13 dated November 26, 2014)./.
Related topics:
Foreign companies apply for bank accounts in Vietnam
Open and use direct investment capital account in foreign currency or in Vietnam Dong
Transfer of ownership of assets contributed as capital
Contact us:
Phone: 0914 165 703
Email: dmslawfirm@gmail.com
DMS Law firm in Vietnam
Director
(Signed)
Lawyer Do Minh Son
RELATING ITEMS
Law on Enterprises in Vietnam
The Law on Enterprises deals with the establishment, organization, restructuring, dissolution, and relevant activities of enterprises in Vietnam, including limited liability companies, joint-stock companies, partnerships;
Register massage service business in Da Nang, Vietnam ?
Parent companies, subsidiaries and affiliates ?
Valuation of assets contributed to the charter capital of a company in Vietnam ?
Law firm in Danang, Vietnam advise about law and regulations in case members of an LLC company contribute non-monetary assets to the charter capital ?