Official letter No. 493/QLKTTW-MTKD dated June 15th, 2020 of the Ministry of Planning and Investment regarding capital contribution in Limited Liability Companies with two or more members
According to Clause 3 Article 48 of the Law on enterprises No. 68/2014/QH13, capital contribution of a Limited Liability Company with two or more members must be fully contributed within 90 days from the date of obtaining the business registration Certificate.
In case any member fails to fully contribute capital, the Board of member may offer the right to contribute capital of such member to other members.
In any circumstance, if after the 90 – day time limit capital has not yet fully contributed, the Company has to register to adjust charter capital according to the actually – contributed capital.
In case committing the aforesaid regulations, a part from having to adjust charter capital, the company also has to be subject to a fine about VND 15 million according to Clause 3 and point c Clause 5 Article 8 of Decree No. 50/2016/ND-CP.