VI Pursuant to Decree 168/2025/NĐ-CP, the provincial business registration authority is required to retain information on shareholders of a joint-stock company for a period of 06 years from the date of the company’s dissolution. Let’s explore this further with Phạm Consult!
For how long must the provincial business registration authority retain information on shareholders of a joint-stock company following the company’s dissolution?
The provincial business registration authority must retain information on shareholders of a joint-stock company (other than a listed company) for a period of 06 years from the date of the company’s dissolution.
Based on Clause 8a, Article 21 of Decree 168/2025/NĐ-CP (as supplemented by Article 6 of Decree 296/2026/NĐ-CP), the duties and powers of the provincial business registration authority are stipulated as follows:
Duties and powers of the provincial business registration authority
- Directly inspect or supervise enterprises, or request competent state agencies to do so, based on the contents of the enterprise registration dossier.
- Require enterprises to suspend or terminate business operations in conditional business lines or sectors subject to conditional market access for foreign investors, upon receipt of a written notice from a competent state agency stating that the enterprise fails to meet the conditions prescribed by law.
- Revoke or reinstate the Enterprise Registration Certificate, the Registration Certificate for the operation of a branch or representative office, and the Registration Certificate for a business location, in accordance with the law.
8a. Information regarding shareholders of joint-stock companies—excluding listed companies and companies registered for securities trading—must be updated and stored in the National Business Registration Database for a period of six years from the date of the company’s dissolution, in accordance with this Decree.
Thus, provincial-level business registration authorities are required to store shareholder information for joint-stock companies (other than listed companies or those registered for securities trading) in the National Business Registration Database for six years following the company’s dissolution.
How are business registration authorities for enterprises and business households organized?
Pursuant to Article 20 of Decree 168/2025/NĐ-CP (as amended and supplemented by Article 5 of Decree 296/2026/NĐ-CP), the organization of business registration authorities for enterprises and business households is stipulated as follows:
Business registration authorities are organized at the provincial level (referring to provinces and centrally-run cities) and at the commune level (referring to communes, wards, and special administrative-economic units), comprising:
(1) At the provincial level:
– The business registration authority under the Department of Finance of the province or centrally-run city issues business registrations for enterprises, branches, representative offices, and business locations situated within that province or city, except in cases specified in Point b, Clause 1, Article 20 of Decree 168/2025/NĐ-CP. The business registration authority may organize various locations within the province or city to receive dossiers and return results;
– The Management Board of a high-tech park issues business registrations for enterprises, branches, representative offices, and business locations situated within that high-tech park; – The business registration authority specified in Points a and b, Clause 1, Article 20 of Decree 168/2025/NĐ-CP (hereinafter referred to as the provincial-level business registration authority) shall have its own account and seal.
(2) At the commune level:
– Where a commune-level administrative unit has established a specialized division, the business registration authority responsible for handling business household registration procedures shall be the specialized division under the Commune-level People’s Committee that is assigned the function and task of business household registration pursuant to the decision of the People’s Committee of the province or centrally-run city;
– Where a commune-level administrative unit has not established a specialized division, the business registration authority responsible for handling business household registration procedures shall be the Commune-level People’s Committee;
– The business registration authority responsible for handling business household registration procedures specified in Points a and b, Clause 2, Article 20 of Decree 168/2025/NĐ-CP (hereinafter referred to as the commune-level business registration authority) shall have an account and a seal.
The commune-level business registration authority shall have its own account and seal to serve business registration operations.
What obligations must an enterprise fulfill?
Pursuant to Article 8 of the Law on Enterprises 2020, as supplemented by Clause 2, Article 1 of the Law Amending the Law on Enterprises 2025, the obligations of an enterprise include:
(1) Meeting the conditions for business investment when engaging in conditional business investment sectors or sectors subject to conditional market access for foreign investors in accordance with the law, and ensuring the maintenance of such conditions throughout the course of business operations.
(2) Fully and timely fulfilling obligations regarding enterprise registration, registration of changes to enterprise registration details, public disclosure of information on the enterprise’s establishment and operations, reporting, and other obligations as prescribed by the Law on Enterprises 2020.
(3) Be responsible for the truthfulness and accuracy of information declared in business registration dossiers and reports; promptly amend or supplement such information if any inaccuracies or omissions are discovered.
(4) Organize accounting and tax payment activities, and fulfill other financial obligations in accordance with the law.
(5) Ensure the legitimate rights and interests of employees in accordance with the law; refrain from discrimination or infringing upon the honor and dignity of employees within the enterprise; refrain from mistreating or coercing employees, or illegally employing minors; support and facilitate employee participation in training to improve professional qualifications and vocational skills; and implement policies and regimes regarding social insurance, unemployment insurance, health insurance, and other forms of insurance for employees as prescribed by law.
(5a) Collect, update, and maintain information regarding the enterprise’s beneficial owners; and provide such information to competent state authorities for the purpose of identifying the enterprise’s beneficial owners upon request.
(6) Other obligations as prescribed by law.
