{"id":1581,"date":"2025-07-01T03:57:50","date_gmt":"2025-07-01T03:57:50","guid":{"rendered":"https:\/\/lawpage.vn\/?p=1581"},"modified":"2026-07-27T04:03:32","modified_gmt":"2026-07-27T04:03:32","slug":"new-points-of-the-enterprise-law-amended-2025","status":"publish","type":"post","link":"https:\/\/lawpage.vn\/en\/new-points-of-the-enterprise-law-amended-2025\/","title":{"rendered":"New Points of the Enterprise Law (Amended 2025)"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"color: #282828\"><strong>1.1. Responsibilities of the Legal Representative Will Be Increased<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">The responsibilities of the legal representative will be expanded through the phrase \u201cas prescribed by law,\u201d meaning that under the amended Enterprise Law 2025, the legal representative will bear various legal liabilities, including civil, administrative, and criminal liabilities.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">Clause 4, Article 1, Law No. 76\/2025\/QH15 (effective from July 1, 2025) has been amended as follows: <strong>\u201cThe legal representative of an enterprise shall bear personal liability as prescribed by law for damages caused to the enterprise due to violations of responsibilities stipulated in Clause 1 of this Article.\u201d<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">According to Article 13 of the Enterprise Law 2020, the legal representative of an enterprise has the following responsibilities:<\/span><\/p>\n<p><span style=\"color: #282828\">a) Perform assigned rights and obligations honestly, prudently, and in the best manner to ensure the lawful interests of the enterprise;<\/span><\/p>\n<p><span style=\"color: #282828\">b) Be loyal to the interests of the enterprise; not abuse their position or use information, know\u2011how, business opportunities, or other assets of the enterprise for personal gain or for the benefit of other organizations or individuals;<\/span><\/p>\n<p><span style=\"color: #282828\">c) Promptly, fully, and accurately notify the enterprise of any enterprise in which they or their related persons are owners, shareholders, or capital contributors as prescribed by this Law.<\/p>\n<p><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\"><strong>1.2. Amendments to the Subjects Prohibited from Establishing and Managing Enterprises<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">Compared to the Enterprise Law 2020, the amended Enterprise Law 2025 expands exceptions for officials, public employees, and civil servants, allowing them to participate in establishing and managing enterprises in the fields of science\u2013technology and digital transformation, thereby promoting innovation within the public sector.<\/p>\n<p><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\"><strong>1.3. New Regulations Allowing Officials and Civil Servants to Contribute Capital to Digital\u2011Transformation Enterprises<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">The amended Enterprise Law 2025 adds exceptions permitting officials, public employees, and civil servants to contribute capital, purchase shares, or acquire capital contributions in joint\u2011stock companies, limited liability companies, and partnerships, provided such activities fall within policies promoting science\u2013technology, innovation, and digital transformation. This amendment concretizes the policy under Resolution 57\u2011NQ\/TW dated December 22, 2024 of the Politburo on breakthroughs in science\u2013technology, innovation, and national digital transformation.<\/p>\n<p><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\"><strong>1.4. Amendments to the Definition of Market Price of Capital Contributions or Shares<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">Point b, Clause 1, Article 1 of Law No. 76\/2025\/QH15 stipulates:<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">The market price of capital contributions or shares is:<\/span><\/p>\n<p><span style=\"color: #282828\">a) The average transaction price within the 30 consecutive days preceding the valuation date, or the price agreed between the seller and buyer, or the price determined by a valuation organization for listed or registered shares on the securities trading system;<\/span><\/p>\n<p><span style=\"color: #282828\">b) The market transaction price at the immediately preceding time, or the price agreed between the seller and buyer, or the price determined by a valuation organization for capital contributions or shares not falling under Point a of this Clause.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">Thus, the concept of market price is significantly revised by dividing it into two groups: \u2022 Listed shares use the 30\u2011day average price, aligning with international practices and the stock market;<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"color: #282828\">Unlisted capital contributions\/shares continue using the previous flexible methods.\n<p><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span style=\"color: #282828\"><strong>1.5. Abolishing Enterprise Registration Using Digital Signatures and Business Registration Accounts<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">Law No. 76\/2025\/QH15 abolishes Clause 3 and Clause 4 of Article 26 of the Enterprise Law 2020, meaning:<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"color: #282828\">Enterprise registration using digital signatures is no longer available \u2022 Registration using business\u2011registration accounts issued by the National Enterprise Registration Information System is no longer available<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">Three main reasons:<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"color: #282828\">Outdated technology<\/span><\/li>\n<li><span style=\"color: #282828\">Avoid duplication with national electronic identification systems<\/span><\/li>\n<li><span style=\"color: #282828\">Prepare for a new enterprise\u2011registration model: high\u2011level electronic identification (VNeID level 2), integration with the National Public Service Portal, and interconnection with tax \u2013 social insurance \u2013 labor \u2013 investment in a unified process\n<p><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span style=\"color: #282828\"><strong>1.6. New Regulations on \u201cBeneficial Owner of a Legal\u2011Entity Enterprise\u201d<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">By officially recognizing the concept of \u201cbeneficial owner of a legal\u2011entity enterprise,\u201d the amended Enterprise Law 2025 clarifies the actual controlling individual behind an enterprise, not only legally but also substantively. This enhances ownership transparency and helps prevent tax evasion, money laundering, and misuse of legal entities to conceal true controlling individuals.<\/span><\/p>\n<p><span style=\"color: #282828\"><strong>a) Definition<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">A beneficial owner of a legal\u2011entity enterprise is an individual who actually owns charter capital or has controlling rights over the enterprise, except for representatives of state\u2011owned capital in enterprises with 100% state ownership or representatives of state capital in multi\u2011member LLCs or joint\u2011stock companies under laws on state capital management.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">Note: Private enterprises are not required to declare beneficial owners. The regulation applies only to enterprises with legal\u2011entity status.<\/span><\/p>\n<p><span style=\"color: #282828\"><strong>b) Criteria for identifying beneficial owners<\/strong> (According to Article 17 of Decree 168\/2025\/N\u0110\u2011CP)<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">A beneficial owner is an individual who meets one of the following criteria:<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(i) Directly or indirectly owns at least 25% of charter capital or voting shares. Indirect ownership means owning at least 25% through another organization.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(ii) Has controlling rights over decisions on at least one of the following:<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"color: #282828\">Appointment or dismissal of most or all members of the Board of Directors, Chairperson, or Members\u2019 Council<\/span><\/li>\n<li><span style=\"color: #282828\">Legal representative, director, or general director<\/span><\/li>\n<li><span style=\"color: #282828\">Amendments to the enterprise\u2019s charter<\/span><\/li>\n<li><span style=\"color: #282828\">Changes to organizational structure<\/span><\/li>\n<li><span style=\"color: #282828\">Reorganization or dissolution of the company<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #282828\"><strong>c) Responsibilities of enterprises regarding beneficial owners<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">From July 1, 2025:<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"color: #282828\">Enterprises established before this date must supplement beneficial\u2011owner information with provincial business\u2011registration authorities.<\/span><\/li>\n<li><span style=\"color: #282828\">Enterprises established after this date must declare beneficial\u2011owner information upon registration.<\/span><\/li>\n<li><span style=\"color: #282828\">Any changes must be updated promptly.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">Enterprises must:<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(i) Review ownership structure and identify beneficial owners <\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(ii) Prepare a list of beneficial owners and submit it with registration documents or update when changes occur <\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(iii) Declare and notify provincial business\u2011registration authorities <\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(iv) Maintain records in paper or electronic form<\/p>\n<p><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\"><strong>1.7. Amendments on Cases Where Joint\u2011Stock Companies May Reduce Charter Capital<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">From July 1, 2025, a joint\u2011stock company may reduce charter capital in the following cases:<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(i) According to a resolution of the General Meeting of Shareholders, the company returns part of capital contributions to shareholders proportionally if the company has operated for at least two years (excluding suspension periods) and can still meet all debts and obligations afterward;<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(ii) The company repurchases issued shares under Articles 132 and 133 of the Enterprise Law 2020;<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(iii) Charter capital is not fully and timely paid by shareholders under Article 113 of the Enterprise Law 2020;<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">(iv) The company returns capital contributions to shareholders holding redeemable preferred shares under the Enterprise Law 2020 and the company charter.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\">The amended law clarifies that the two\u2011year operating period excludes business\u2011suspension periods and adds the case of returning capital for redeemable preferred shares.<\/p>\n<p><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #282828\"><strong>1.8. Amendments on Termination of Branches, Representative Offices, and Business Locations<\/strong><\/span><\/p>\n<p><span style=\"color: #282828\">Pursuant to Clause 1, Article 213 of the 2020 Law on Enterprises, the termination of operations of branches, representative offices, and business locations is prescribed as follows:<\/span><\/p>\n<p><span style=\"color: #282828\"><em>A branch, representative office, or business location of an enterprise may have its operations terminated either by a decision of the enterprise itself or by a decision of the competent state authority to revoke the Certificate of Operation Registration of the branch or representative office.<\/em><\/span><\/p>\n<p><span style=\"color: #282828\">Meanwhile, Clause 24, Article 1 of Law No. 76\/2025\/QH15 revises and supplements this provision as follows:<\/span><\/p>\n<p><span style=\"color: #282828\"><em>A branch, representative office, or business location of an enterprise may have its operations terminated either by a decision of the enterprise itself or by a decision of the competent state authority to revoke the Certificate of Enterprise Registration or the Certificate of Operation Registration of the branch, representative office, or business location.<\/em><\/span><\/p>\n<p><span style=\"color: #282828\">Accordingly, the entities empowered to issue decisions on the termination of operations of branches, representative offices, and business locations have been broadened. The competent state authority may now revoke not only the operation registration certificates of branches or representative offices, but also the enterprise registration certificate and the business location registration certificate. Furthermore, instead of limiting revocation to the \u201coperation registration certificate\u201d of each unit, the revised law encompasses the revocation of the enterprise registration certificate and the registration certificate of the business location, thereby clarifying the legal circumstances that may lead to termination of operations.<\/span><\/p>\n<p><span style=\"color: #282828\">This new regulation provides a more comprehensive framework for practical situations, particularly in cases where the enterprise\u2019s registration is revoked, resulting in the automatic termination of all dependent units.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>1.1. Responsibilities of the Legal Representative Will Be Increased The responsibilities of the legal representative will be expanded through the phrase \u201cas prescribed by law,\u201d meaning that under the amended Enterprise Law 2025, the legal representative will bear various legal liabilities, including civil, administrative, and criminal liabilities. Clause 4, Article 1, Law No. 76\/2025\/QH15 (effective [&#8230;]\n","protected":false},"author":78,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1581","post","type-post","status-publish","format-standard","hentry","category-legal-updates"],"_links":{"self":[{"href":"https:\/\/lawpage.vn\/en\/wp-json\/wp\/v2\/posts\/1581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lawpage.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lawpage.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lawpage.vn\/en\/wp-json\/wp\/v2\/users\/78"}],"replies":[{"embeddable":true,"href":"https:\/\/lawpage.vn\/en\/wp-json\/wp\/v2\/comments?post=1581"}],"version-history":[{"count":0,"href":"https:\/\/lawpage.vn\/en\/wp-json\/wp\/v2\/posts\/1581\/revisions"}],"wp:attachment":[{"href":"https:\/\/lawpage.vn\/en\/wp-json\/wp\/v2\/media?parent=1581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lawpage.vn\/en\/wp-json\/wp\/v2\/categories?post=1581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lawpage.vn\/en\/wp-json\/wp\/v2\/tags?post=1581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}