Corporate Law

Effective July 23, 2026, Decree 296/2026/NĐ-CP amends Decree 168/2025/NĐ-CP on business registration, revising the criteria for identifying a company's beneficial owner to focus on ownership of 25% or more of charter capital, control rights, and management rights. Notably, just two days earlier, Decree 288/2026/NĐ-CP introduced specific penalties for failing to declare beneficial owner information, with fines of up to VND 100 million for organizations. This article summarizes what enterprises need to note and act on now to avoid the risk of penalties.