Vietnam Updates Decree on Enterprise and Household Business Registration, Including New Ultimate Beneficial Ownership Rules

The Government of Vietnam issued Decree No. 296/2026/ND-CP on 23 July 2026, which amends and supplements Decree No. 168/2025/ND-CP regarding enterprise and household business registration. Some of the key changes include updated and expanded rules concerning ultimate beneficial owners, who are defined as one or more natural individuals who ultimately own or actually control a legal entity. While Decree No. 168 (pre-amended) contained more general UBO rules, Decree 296 establishes a strict, t…