【ベトナム】Civil Code Amendments in Practice:Representative Offices, Business Associations, etc., Lose Capacity to Operate Bank Accounts
Non-legal entities no longer have legal capacity for purposes of civil transactions
Law No. 91/2015/QH13 on the Civil Code was adopted by the National Assembly on November 24, 2015, and entered into force January 01, 2017 ("Civil Code 2015"). The Civil Code 2015 only provides for the legal capacity of legal entities (judicial persons) and individuals (natural persons) in civil transactions. Accordingly, Civil Code 2015 omits the legal capacity of non-legal entities to conduct any civil transaction. Among other things, this means many thousands of non-legal entities, including representative offices, business associations, branches of offshore enterprises, offices of foreign contractors and NGO offices, may no longer be able to engage in any civil transaction as a party to such transactions.