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Comparison of JSC and LLC in Vietnam

Comparison of JSC and LLC in Vietnam

Joint stock companies (JSC) and limited liability companies (LLC) are two common types of companies in Vietnam. The main differences between JSC and LLC are as follows:

NO.


Difference


Joint Stock Company


Limited Liability Company


1


Number of shareholders or members


At least 3 shareholders. No maximum number of shareholders.


1-50 members (shareholders).


2


Transfer of ownership


Shareholders can freely transfer their shares except for the circumstances stipulated by the law and company charter.


Ownership can only be transferred to a external party when the other members (shareholders) of the company do not purchase.


3


Management Structure


Typical structure:


1)       general meeting of shareholders


2)       board of management


3)       inspection committee (If the JSC has less than 11 shareholders, and organizational shareholders own less than 50% of the total shares, it is not required to have an inspection committee).


4)       a director or general director


Typical structure:


1）chairman of the company or member’s council


2）director or general director


4


Issuance of shares and securities


Can issue shares or other securities to the public.


Not allowed.


5


Reporting and disclosure obligations


Stricter reporting requirements and disclosure of financial statements is required.


Not required to disclose financial statements unless specified.



Advantages of a JSC: A JSC can issue shares and be listed on the Vietnam stock exchange. It generally has higher reputation and financing capabilities, making it more suitable for large businesses or corporate groups.

Advantages of an LLC: An LLC is more suitable for small businesses or individual investors since it is easier to set up and maintain.  

KAIZEN Group is equipped with experienced and highly qualified professional consultants and is therefore well positioned to provide professional advices and services in respect of the formation and registration of company, application for various business licences and permits, company compliance, tax planning, audit and accounting in China. Please call and talk to our professional consultants for details.

See also：
Vietnam WFOE Registration Procedures and Fees

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 Offshore Company