According to the provisions of the Enterprise Law 2020, regulations on the establishment, management organization, reorganization, dissolution and related activities of enterprises business, including limited liability companies, joint stock companies, partnerships and sole proprietorships; regulations on group of companies.

Currently, every individual has the right to establish, contribute capital, buy shares in businesses/companies and act as legal representatives, except in certain cases. In the following cases, Pursuant to the provisions of Clauses 2 and 3, Article 17 of the Enterprise Law 2020:

The following organizations and individuals do not have the right to establish and manage businesses in Vietnam

a) State agencies and units of the people's armed forces use state assets to establish business enterprises to make their own profits;

b) Cadres, civil servants and public employees according to the provisions of the Law on Cadres, Civil Servants and the Law on Public Employees;

c) Officers, non-commissioned officers, professional soldiers, workers, and defense officials in agencies and units of the Vietnam People's Army; officers, professional non-commissioned officers, and police workers in agencies and units under the People's Public Security of Vietnam, except those appointed as authorized representatives to manage the State's capital contribution in the enterprise or management at state-owned enterprises;

d) Leaders and professional managers in state-owned enterprises as prescribed in Point a, Clause 1, Article 88 of this Law, except those appointed as authorized representatives to manage the capital contribution of State at other enterprises;

d) Minors; people with limited civil act capacity; people who have lost their civil act capacity; people with difficulty in cognition and behavior control; organization without legal status;

e) People who are being prosecuted for criminal liability, detained, are serving prison sentences, are serving administrative measures at compulsory drug treatment facilities, compulsory educational establishments or being banned by the Court from holding certain positions, practicing certain professions or doing certain jobs; Other cases according to the provisions of the Bankruptcy Law and the Law on Prevention and Combat of Corruption.
If requested by the Business Registration Authority, the person registering to establish a business must submit a criminal record card to the Business Registration Authority;

g) Organizations are commercial legal entities banned from doing business or operating in certain fields according to the provisions of the Penal Code.

Organizations and individuals have the right to contribute capital, purchase shares, and purchase capital contributions to joint stock companies, limited liability companies, and corporations. partnership according to the provisions of this Law, except for the following cases:

a) State agencies and units of the people's armed forces use state assets to contribute capital to enterprises to gain private profits for their agencies and units;

b) Subjects who are not allowed to contribute capital to enterprises according to the provisions of the Law on Cadres and Civil Servants, the Law on Public Employees, and the Law on Prevention and Combat of Corruption.

Thus, based on the above regulations, every individual has the right to establish, contribute capital, and buy shares in a business/company without any restrictions. The number of establishments and capital contributions to other enterprises is limited to the following types of enterprises:

+ For private enterprises: Each individual is only entitled to establish one private enterprise. The owner of a private enterprise cannot simultaneously be the owner of a business household or a general partner of a partnership. (Clause 3, Article 188 of the Enterprise Law 2020) (but private business owners have the right to establish, contribute capital, and buy shares for limited liability companies and joint stock companies)

+ For partnership type: Partnership members are not allowed to own private enterprises; Not allowed to be a general partner of another partnership unless otherwise agreed by the remaining partners. (Clause 1, Article 180 of the Enterprise Law 2020) (but partnership members have the right to establish, contribute capital, and buy shares for limited liability companies and joint stock companies)

Conclusion: Based on current legal regulations, your case does not fall into the prohibitions and restrictions of business law. If you already own a limited company, you can still establish, contribute capital, and buy shares to establish another new business/company in accordance with regulations. (The types you can establish are as follows: LLC with two or more members, Joint stock company)

Refer to the service: >>> Business registration service/company

Consultation hotline: 0935289747 – Mr. Tran Huu Toan