Minimum Capital in Company Law: A Perspective from Vietnam

論公司法上最低資本額－越南法的觀點

10.53106/207873752024010028005

DAO Thi Thu Hang(陶氏秋姮)；TRAN Nguyen Phuoc Thong(陳阮福聰)；NGUYEN Thi Tram(阮氏簪)；DAO Gia Phuc(陶家福)

Legal Capital ； Compulsory Minimum Capital ； Regulatory Minimum Capital ； Mandatory Minimum Capital ； Legal Capital Requirement ； 法定資本 ； 強制性最低資本額 ； 監管最低資本額 ； 強制性最低資本 ； 法定資本要求

中正財經法學

28期（2024 / 01 / 01）

203 - 244

英文;繁體中文

Along with the process of international economic integration, minimum capital was implanted into the system of Vietnamese business law for the first time in 1990. The minimum capital is the amount of money required by law that people must have to establish and operate a company in some business sectors in Vietnam. However, there are doubts about the practical implementation and its contribution to the regulation for continuous economic progress. There is a lack of literature on the context in which the regulation can make full use of it and not meet the State's requirements for protecting the third party in some business lines. This paper, therefore, introduces research results under three aspects. Firstly, the historical context of the regulations of legal capital in Vietnam will be shown. Secondly, the role of regulation in the business fields to which it is applied is not necessary now. Lastly, based on analyses, the article will propose some suggestions to improve the situation to a more effective, more transparent legal frame for all investors in Vietnam: abolishing minimum capital requirements in the business law system. Instead of protecting the third party or maintaining a sustainable trading environment effectively in some sectors, the State could regulate depository funds for these business lines or require these enterprises to hold on to the amount of minimum capital during the courses of their operation. This article properly also explains the theories behind minimum capital requirements.

隨著國際經濟整合的演進，法定資本制於1990年首次移植到越南法律體系中：人們必須符合強制性最低資本額之要求，才能成立和經營公司，惟人們對其實際執行情況及其對促進經濟持續進步的調節作用尚存疑慮，因此，本文將從三個面向呈現研究分析之成果。首先，本文引介越南法定資本制度的歷史背景。其次，評估審視監管在商業領域中的作用，發現當前已經不具有必要性。最後，經過前揭分析，本文提出具體建議，期能改善越南所有投資者的情況，並為所有投資者建立一個更有效、更透明的法律框架，亦即廢除法律體系中強制性之最低資本額的要求。國家可以監管這些業務的存款資金、或要求這些企業在其經營過程中遵守強制性最低資本數額之規定，本文適當地解釋了強制性最低資本額之要求背後的理論基礎。