Center for Community Support Development Studies

Who is the authorized representative of the members of limited liability companies and shareholders?

A member or shareholder of an organization may designate one or more individuals as its authorized representatives, which must be communicated to the company and local business registries within 07 working days for a limited liability company and 05 working days for a joint stock company from the date the representative is appointed. The change of authorized representative must be notified in writing to the company and the business registrar within 7 working days from the date of the decision and effective from the date the company is notified.
An authorized representative must meet the following criteria and conditions:
– Having full capacity for civil acts;
– Not prohibited from establishment and management of enterprises; and
– Have the expertise and experience in managing the company or in the main business of the company.
The notice must contain the following particulars:
– Name, permanent address, nationality, number and date of establishment or business registration of a limited company member or shareholder;
– Capital contribution ratio, number and date of issuance of the capital contribution certificate for limited liability company; And the number of shares, class of shares and date of shareholder registration at the company for the joint stock company;
– Full name, permanent address, nationality, ID card number, passport or other lawful personal identification of the authorized representative;
– Number of shares authorized to represent;
– Duration of representation under authorization; and
– Full name and signature of the authorized representative and legal representative of the limited company or shareholder.