Compare the types of limited liability companies with two or more members and joint stock companies section

LIMITED LIABILITY COMPANY
TWO OR MORE MEMBERS

JOINT STOCK COMPANY

Similarities

– Has legal status from the date of the business registration certificate;

– Has its own assets;

– Members and shareholders can be individuals or organizations position;

– Company members/Shareholders are responsible for the debts and other obligations of the enterprise within the amount of capital contributed to the enterprise;

– Can convert from a limited liability company to a joint stock company and vice versa;

Quantity
members

Right to transfer PVG/CP

– In case the company does not repurchase the capital contribution after 15 days of making the request, the member has the right to freely transfer his/her capital contribution to another member or someone other than a member.

– Except in the case of a member transferring his/her capital contribution to another person when the company does not repurchase the capital contribution; In case a member donates capital contribution or uses capital contribution to repay debt, a member of a limited liability company with two or more members has the right to transfer part or all of his/her capital contribution to another person according to the following regulations:

+ Offer to sell that capital contribution to the remaining members in proportion to their capital contribution in the company with the same offering conditions;

+ Transfer with the same offering conditions to the remaining members to non-members if the remaining members of the company do not buy or do not buy all within 30 days from the date of offering sell

+ In addition, in special cases, capital contributions are handled according to the provisions of Article 53 of the Law on Enterprises 2020

Shareholders have the right to freely transfer their shares to others, except for 02 cases:

+ Within 03 years from the date the company is granted a Certificate of Business Registration, shares Common shares of founding shareholders are freely transferable to other founding shareholders and can only be transferred to people who are not founding shareholders if approved by the General Meeting of Shareholders. In this case, the founding shareholders intending to transfer common shares do not have the right to vote on the transfer of those shares.

+ In case the company charter has restrictions on transfer of shares, these regulations are only effective when clearly stated in the shares of the corresponding shares.

Right to issue securities