Beneficial ownership of enterprises under Vietnamese law: the current legal framework and recommendations for improvement.

Abstract

In the context of an increasingly market-oriented economy and deeper international integration, the identification of a company’s beneficial owner is of particular importance for ensuring transparency and preventing money laundering, tax evasion, and the abuse of legal entities. In recent years, Vietnamese law has gradually recognized and regulated this issue; however, in practice, certain gaps and limitations remain in the identification, disclosure, and control of beneficial ownership. On that basis, this article focuses on analyzing the current legal framework and its practical implementation regarding beneficial ownership of enterprises in Vietnam, thereby proposing several recommendations to further improve the legal framework in the coming period.