Age to establishing an enterprise

Regulations about age to establishing an enterprise

According to Article 17 Law on Enterprise 2020, organizations and individuals have the right to establish and manage enterprises in Vietnam in accordance with this Law, except for the cases specified as follows:

a) State authorities, People’s armed forces using state-owned assets to establish enterprises to serve their own interests;

b) Officials and public employees defined by the Law on Officials and the Law on Public Employees;

c) Commissioned officers, non-commissioned officers, career military personnel, military workers and public employees in agencies and units of Vietnam People’s Army; commissioned officers, non-commissioned officers and police workers in police authorities and units, except for those designated and authorized representatives to manage state-owned stakes in enterprises or to manage state-owned enterprises;

d) Executive officers and managers of state-owned enterprises prescribed in Point a Clause 1 Article 88 of this Law, except those who are designated as authorized representatives to manage state-owned stakes in other enterprises;

dd) Minors; people with limited legal capacity; incapacitated people; people having difficulties controlling their behaviors; organizations that are not juridical persons;

e) People who are facing criminal prosecution, kept in temporary detention, serving an imprisonment sentence, serving an administrative penalty in a correctional institution or rehabilitation center, has limited legal capacity or is incapacitated, is not able to control his/her own behaviors, is banned by the court from holding certain positions or doing certain works; other cases prescribed by the Law on Bankruptcy and the Anti-corruption Law.

If requested by the business registration authority, the applicant shall submit the judicial records;

g) Juridical persons that are banned from business operation or banned from certain fields as prescribed by the Criminal Code.

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. Otherwise, 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 firm directly for detailed consult and best support.

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