Question and answer about charter capital in the enterprise

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Question and answer about charter capital in the enterprise

Question:

Hi, I have a problem. I need to be advised. I would like to present the problem as follows: I intend to establish a one-member limited liability company with registered capital of 800,000,000 VND. However, I wonder whether I are allowed to be register for that level of charter capital because curently I do not have enough this amount of money. If I do not contribute enough this level, what is my legal responsibility for this action. We hope to receive answers from Private Lawyers.

Question and answer about charter capital in the enterprise
Question and answer about charter capital in the enterprise

Answer:

In this case, you can register a charter capital of VND 800,000,000 for the type of business as a one-member limited liability company even when you do not have sufficient capital. However, you must contribute fully and correctly the committed assets when registering for a business establishment within 90 days from the date of issuance of the Certificate of Business registration.

When this period expires, if you do not contribute in full, you must register to adjust your charter capital equal to the value of your actual contributed capital within 30 days from the last day of the 90-day period. In this case, you are responsible for the capital contribution you have committed to the company’s financial obligations incurred before the company changes its charter capital.

If the 120-day period above has expired and you fail to register for the adjustment of charter capital (in case the actual contributed capital is lower than the registered charter capital), you will be fined from VND 10,000,000 VND to 20,000.000 VND

The legal basis: Clause 2, 3 Article 74 of the Law on Enterprises 2014 and Clause 3 Article 28 of Decree 50/2016 / ND-CP.

In addition, you should also pay attention to the legal capital for a specific business line to ensure that the charter capital that you register meets the minimum capital of that business line (for example, real estate: 20 billion VND, auditing services: 6 billion VND, trading in debt trading, …)

Please do not hesitate to contact us for more information to be supported and consulted:

LUAT SU RIENG (LSR) LAW FIRM

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