Tiếng Việt
Before the impact of Covid 19 on the world economy, many companies faced financial difficulties and even went bankrupt. Foreign-invested company in Vietnam are no exception. In order to adapt to social isolation to cope with financial difficulties, suspend business is a solution selected by many companies to overcome this difficult period.
>> Read more: Establish foreign-owned real estate trading company in Vietnam
Mục lục
1. Conditions for suspend business of foreign capital company in Vietnam
The law of Vietnam stipulates that a company will be suspend business in case that company no longer meets the law on conditional business lines. In addition to the above case, a foreign-owned company relies on its socio-economic situation and financial capacity to decide to suspend business.
To suspend business, foreign capital companies need to comply with the following requirements:
– Notify in writing to state agencies of business suspension at least 15 days before the date of suspend business;
– In case the foreign-invested company has branches, representative offices, business locations, these dependent units also need to send the notice of temporary suspension of business to the Business Registration Office where these units are located. headquarters;
– Foreign-invested company need to fulfill all tax-related obligations; payment of debts; fulfilling the signed contract with customers and employees during the suspension period.
2. Suspend business notification documents
The company prepares documents including the following documents:
– Notice of suspend business. Follow the form issued by the Vietnamese Government;
– Decision and minutes of meeting of the Board of members with two-member limited liability company; of the Board of Directors with the joint stock company;
– Decision of the company owner with one-member limited liability company;
If a foreign-owned company is granted an investment registration certificate (IRC), the application file needs additional
– A copy of the investment registration certificate (IRC);
– Application for updating and supplementing enterprise registration information. Follow the form issued by the Vietnamese Government.
3. Some notes about suspend business
The temporary cessation of business activities of a foreign-invested company shall not exceed 01 year. In case of expiry of this period, the foreign-invested company still needs to suspend its business shall notify the Business Registration Office. The total duration of business suspension must not exceed 02 consecutive years.
If the foreign company wants to resume its operation before the end of the temporary suspend business, it must carry out the notification procedure to the Business Registration Office where the company is headquartered.
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