In contrast to an LLC, which has a straightforward corporate structure, the formation of a JSC in Vietnam necessitates the participation of at least three shareholders or founders. The regulations do not specify the maximum number of founders that can participate.
A JSC must have a management board, an annual general meeting, an inspection committee, a chairperson of the management board, and a director or general director who is to be appointed as the company’s legal representative as part of its organizational structure. An inspection committee must oversee these roles.