Vietnam Enacts New Law on Ultimate Beneficial Ownership

Last Updated: Aug 15, 2025

Vietnam Enacts New Law on Ultimate Beneficial Ownership image

Vietnam's National Assembly passed amendments to its Law on Enterprises, introducing a comprehensive legal framework for identifying and disclosing Ultimate Beneficial Owners (UBOs). The law, effective July 1, 2025, defines a UBO as an individual who ultimately owns or controls an enterprise and requires companies to report this information as part of their business registration. 

This reform is a key part of Vietnam's effort to align with international anti-money laundering standards set by the Financial Action Task Force (FATF). The law specifies criteria for identifying a UBO, such as holding 25% or more of the charter capital or having significant influence over corporate decisions. 

Source: Watsons Farley & Williams

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