Are a limited liability companies or a joint stock companies not allowed to register for the establishment of property auction businesses in Vietnam?

Pursuant to Clause 1, Article 23 of the Law on Property Auction 2016, the regulations on property auction enterprises are as follows:

1. Property auction businesses shall be established and organized and operate as private businesses or partnerships in accordance with this Law and other relevant laws.

According to this Article, there are many types of enterprises such as joint stock companies, limited liability companies , private enterprises, partnerships. However, an asset auction enterprise may only be established in the form of a private enterprise or partnership in Vietnam.

Best Regards!