Contribution of capital by incorporation of land use rights

Question:

I intend to contribute capital to establish the company with a friend, so I have no intention cash assets contributed by the land use rights. The capital contribution with the land use right is not so. Expect attorney to help me. Sincerely thank you.

answer

Pursuant to Article 30 of the Enterprise Act 2005, which provides for valuation of contributed assets as follows:

1 Assets Cash capital contribution is not Vietnam, in freely convertible foreign currency, gold must be members, founding or organizing professional valuation valuation.

2 assets to contribute capital to establish businesses must be members, founding shareholder valuation by consensus; if the contributed assets are priced higher than the actual value at the time of contribution, the member, founding shareholders jointly liable for the debts and other property obligations of the company by the difference between the value and the actual value of the contributed assets at the end of the valuation.

3 Capital contribution in the process of business activities and the valuation of capital contribution agreement or by an organized professional valuation valuation. Where professional valuation organization valuation, the value of contributed assets to the corporate spenders and approval; if the contributed assets are priced higher than the actual value at the time of contribution, the contribution of capital or valuation organizations and legal representatives of enterprises jointly liable for the debts and other property obligations of the company equal to the difference between the value and the actual value of the contributed assets at the end of the valuation.

Such cases contributed assets a company's customers are entitled to use land valuation must be conducted, may be members, founding shareholder valuation or hire a professional valuation organization valuation.

For assets are land use rights, the contribution of capital to the procedures for transfer of ownership of such property or land use rights for the company in state agencies having jurisdiction. The transfer of ownership of the contributed assets are not subject to the registration fee;

Please contact Ha Do Law for detailed advice.