On May 5, 2025, the Ministry of Finance issued Circular 19/2025/TT-BTC (Circular 19) stipulating the registration of public companies, cancellation of public company status, and audited report on contributed charter capital. Circular 19 provides detailed guidelines for certain provisions of the Law on Securities 2019, as amended and supplemented by Law 56/2024/QH15, and replaces certain articles of Circular 118/2020/TT-BTC providing guidelines for public offerings and issuance of securities, tender offers, share repurchases, registration of public companies and cancellation of public company status. Below are some key highlights of Circular 19:

(i) Provision of detailed regulations on preparation of audited reports on contributed charter capital;
(ii) Adjustment of the document templates required for public company registration dossier;
(iii) Supplement of detailed provisions on the State Securities Commission of Viet Nam’s proactive authority to consider the cancellation of public company status.