Workshop “Amended Law on Enterprises and the Draft Decree on Business Registration related to the regulation of beneficial owner”

 

On June 26, the Workshop on “Amended Law on Enterprises and the Draft Decree on Business Registration related to the regulation of beneficial owner” was successfully held in Ha Noi by Vietnam Business Lawyers Club (VBLC), chaired by Ms. Tran Thi Thanh Huyen, Partner of NHQuang&Associates and member of VBLC Executive Board and officials from the Authority for Private Enterprise and Cooperative Development (APED), sponsored by a number of law practicing organizations. The workshop had presentations by lawyers from NHQuang&Associates, LNT and officials from APED.

At the workshop, Mr. Nguyen Hung Quang, Managing Lawyer at NHQuang & Associates, delivered a presentation focusing on crucial considerations for lawyers advising businesses on beneficial ownership. His insights specifically addressed compliance with the Law on Anti-Money Laundering and the amended Law on Enterprises 2025. Mr. Quang highlighted over ten obligations for lawyers regarding the identification, collection, storage, reporting, and security of beneficial ownership information for businesses, as mandated by anti-money laundering regulations. He further clarified that while the amended Law on Enterprises 2025 doesn’t directly address beneficial asset ownership, it does outline procedural responsibilities for businesses to store and disclose beneficial owner information. Additionally, Mr. Quang shared international best practices concerning the storage and reporting of beneficial ownership data.

Furthermore, Mr. Quang briefly touched upon several other significant amendments in the Law on Enterprises 2025. These include revisions to definitions such as “dividends” and “market value of contributed capital and shares,” as well as the addition of certain prohibited acts within the law.