Article
Vietnam Introduces A New Era Of Corporate Transparency: Decree 296 Establishes Mandatory Beneficial Ownership Look-Through Rules And Tightens Business Suspension Regime
Vietnam's Decree No. 296/2026/ND-CP fundamentally transforms enterprise registration by introducing a sophisticated three-tier beneficial ownership framework requiring companies to identify ultimate natural persons exercising ownership or control through mandatory look-through analysis of all corporate layers. The decree simultaneously restricts consecutive business suspension periods to a maximum of twenty-four months, ending the previous practice of indefinite suspension extensions.
Duane Morris LLP