Question: My client (a USA company) set up a JV with a Vietnam company in Ho Chi Minh city. Now my client wants to buy shares from the Vietnam company.
We need local lawyers/agent to help with the share transfer procedure eg. registration in authorities. If you are interested, would you please let me know the main procedures, time, and your quotation? Thank you.
Answer: We understand that your Client setup a Joint Venture Company with a Vietnamese Partner in HCM City.
Now, your Client wishes to acquires shares from such Vietnamese Partner in the Joint Venture Company. Please correct us if our understanding is wrong.
Under Vietnam Law, in several specific industries, foreign ownership in a Joint Venture Company may be limited. For example, under WTO Commitment foreign ownership in a Joint Venture Company which conduct business activities in Road Passenger Transportation must not exceed 49%. Then, for providing you a comprehensive and practical advice, please share us following information:
- Name and address of the Joint Venture Company: This is for our interest conflict checking.
- Current ownership ratio of your Client in the Joint Venture Company:
- Ratio of shares to be acquired by your Client from Vietnamese Party:
- Registered business activities of the Joint Venture Company:
