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Business "How to?"Monday, 03/21/2005, 03:59

Can overseas Vietnamese members appoint foreigners to be company director (general director)?

Can overseas Vietnamese members

Can overseas Vietnamese members appoint foreigners to be company director (general director)?


If the chairman of the member council is an overseas Vietnamese, he or she can appoint the general director who is foreign on behalf of the member council as agreed in the decision at the member council meeting regulated in the Company�s Regulations. A foreigner needs to have a permanent residence card to be able to represent the company at the position of general director. In this case, the foreigner can or cannot, without limitation, contribute capital or hold shares or take part in the company�s business and have all the rights of a Vietnamese citizen.

If the foreigner does not have a permanent residence card, according to Item 8, Article 9 of the Enterprise Law, he or she is not allowed to handle the business but is allowed to perform his or her technical job as stated in the contract signed with the company.

Based on Decree No. 58/CP dated October 3, 1996, by the Government on licensing labor permit for foreigners working at businesses and organizations in Vietnam, the foreign company and individual must make application for recruitment and issuing permits for foreigners working in Vietnam.

Contact the Service of Labor, War Invalids and Social Affairs located at 159 Pasteur, District 3. Tel: 8202634.

Reference documents: Decree 58/CP dated October 3, 1996, and Circular No. 09/LDTBXH-TT dated March 18, 1997, by the Ministry of Labor, War Invalids and Social Affairs regulating the issuance of labor permits to foreign workers working at companies and organizations in Vietnam.
 

 


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