The Law on Enterprise 2020 which will be effective from 01/01/2021.
By Law on enterprise 2020, a multiple-member limited liability company no longer requires the Control Board. A multiple-member limited liability company shall have a Board of Members, President of the Board of Members, Director/General Director. Therefore, a multiple-member LLC could consider of establish the control board as on their demand.
Due to a company may have one or more than one legal representative, a multiple-member LLC must have one legal representative as the President of the Board of Members or Director/General Director.
