What is duration for annual General Meetings of Shareholders (GMS) after the end of the fiscal year in Vietnam?

1. What is duration for annual General Meetings of Shareholders (GMS) after the end of the fiscal year in Vietnam?

Pursuant to Article 139 of the Enterprise Law 2020 stipulates that the General Meeting of Shareholders is as follows:

1. General Meetings of Shareholders (GMS) shall be convened annually and whenever necessary. The meeting location is the place where the chair attends and shall be within Vietnam’s territory.

2. The annual GMS shall be convened within 04 months from the end of the fiscal year. Unless otherwise prescribed by the company's charter, the Board of Directors shall decide deferral of the annual GMS where necessary by up to 06 months from the end of the fiscal year.

3. The following issues shall be discussed and ratified at the annual GMS:

a) The company’s annual business plan;

b) The annual financial statement;

c) The report of the Board of Directors on its performance and that of its members;

d) The report of the Board of Controllers on the company’s business performance, performance of the Board of Directors, the Director/General Director;

dd) The report of the Board of Controllers on its performance and that of the controllers;

e) Dividend of each type of shares;

g) Other issues within its jurisdiction.

Thus, if your company is a joint stock company, the annual GMS shall be convened within 04 months from the end of the fiscal year. Unless otherwise prescribed by the company's charter, the Board of Directors shall decide deferral of the annual GMS where necessary by up to 06 months from the end of the fiscal year in Vietnam.

2. How many days before dan on which the invitations is list of shareholders entitled to participate in the GMS compiled in Vietnam?

According to Article 141 of the Enterprise Law 2020, list of shareholders entitled to participate in the GMS is as follows:

1. The list of shareholders entitled to participate in the GMS shall be compiled according to the company’s shareholder register numbers. The list shall be compiled not more than 10 days before dan on which the invitations to participate in the GMS are sent if a shorter period is not specified in the company's charter.

2. The list shall contain full names, mailing addresses, nationalities, legal document numbers of shareholders that are individuals; names, EID numbers or legal document numbers, headquarters addresses of shareholders that are organizations; quantities of shares of each type and each shareholder registration date and number of each shareholder.

3. Shareholders are entitled to access and make copies of names and mailing addresses of shareholders on the list; request correction of errors or addition of information about themselves on the list. The company’s executives shall promptly provide information in the shareholder register, revise and add information as requested by the shareholders; pay compensation for damage caused by the failure to provide or to accurately and promptly provide shareholder registration numbers as requested. The procedures for requesting provision of information in the shareholder register shall be specified in the company's charter.

According to this Article, the list of shareholders entitled to participate in the GMS in Vietnam shall be compiled not more than 10 days before dan on which the invitations to participate in the GMS are sent if a shorter period is not specified in the company's charter.

Best Regards!