According the Vietnam Law on Enterprises, there are four common types of
companies
-Private enterprise is an enterprise owned by an individual
who is liable for all of its operations with his/her entire property;
-Partnership is an enterprise in which (i) there are at
least two partners who are co-owners of the company, jointly conduct business
under one common name; in addition to general partners, there may also be
limited partners; (ii) general partners to a partnership must be individuals
who are liable for all obligations of the partnership with his/her own entire
property; (iii) Limited partners shall be liable for debts of the partnership
only to the extent of their capital contribution to the partnership;
-Joint stock company is an enterprise where (i) Its charter
capital is divided into equal portions known as shares; (ii) Shareholders may
be organizations and/or individuals; the minimum number of shareholders shall
be three and shall not be restricted to any particular maximum number; (iii)
Its shareholders shall be liable for debts and other property liabilities of
such enterprise within the limit of the value of their capital contribution to
the enterprise; (iv) Shareholders shall be entitled to freely transfer their
shares according to the provisions of law;
-Limited liability company (multi-member limited liability
company and single-member limited liability company). A one-member limited
liability company is an enterprise which is owned by one organization or
individual (hereinafter referred to as the company owner); the company owner is
liable for debts and other property liabilities of the company within the
charter capital of the company. A limited liability company is an enterprise of
which: (i) Members may be organizations and/or individuals; the total number of
members shall not exceed fifty; (ii) Members are responsible for debts and
other property liabilities of the enterprise within the amount of capital that
they have committed to contribute to the enterprise; (iii) Capital shares of
the members may only be transferred in accordance with the provisions of law.
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