Benefits of Cekindo’s Corporate Services
In Vietnam, company dissolution can be an overly bureaucratic process.
Starting and running a business in Vietnam is a dream of many investors. The success of a business, however, depends on a lot of factors, such as the uniqueness and quality of a product or service and the ability to stand out from competitors.
Unfortunately, despite the best effort, a company or a business may not be able to survive and needs to be dissolved.
To be able to dissolve a company in Vietnam, a business is required to go through a liquidation process. Liquidation, in other words clearing and settling the company’s assets and liabilities, is the only way for businesses in Vietnam to be able to come to the end of their legal existence.
The Process of Closing a Company in Vietnam
In general, to start implementing the process of dissolving as the resolutions and decisions on dissolutions of the company, the following steps must be taken:
Send the notice of dissolution of the enterprise to the Business Registration Office, with relevant documentation, within 7 days from the date of adoption of the resolution or decision on dissolution.
Within 1 working day from the date of receipt of the Notice, the Business Registration Office will post on the Portal, and change the legal status of the enterprise to the status of “In progress of dissolution procedures” and transfer information to Tax Authorities.
Enterprises hereby must carry out the procedures for completing tax obligations to the Tax Authorities.
Enterprises liquidate debts in the following order:
Note: An enterprise may only be dissolved after all of its debts and liabilities are fully paid off and it is not involved in any dispute at local courts or arbitration. Therefore, this step can be done at the beginning, or, at any time, as long as its done before submitting the application for registration in Step 4.
Submit the application for business dissolution to the Business Registration Office, including:
Before carrying out Step 4, the enterprises shall terminate the operation of a branch, representative office, or business location of the enterprise at the Business Registration Office where the branch, representative office, or business location is located.
At the same time, the enterprise must return the seal and certificate of seal sample registration to the police agency according to regulations when carrying out the dissolution procedures (for enterprises using the seal issued by the police agency).
After receiving the Registration, they shall send information to the Tax Authorities and the tax authorities shall reply within 2 working days to confirm the fulfillment of the tax payment obligation.
In case The Business Registration Office does not receive a refusal from the Tax Authorities, they shall change the legal status of the enterprise to "Dissolved" and issue a notice of dissolution.
The Benefits of Dissolving a Company with Cekindo
Quality Liquidator Services
An accountable liquidator accepted by the General Meeting of Shareholder (GMS) or District Court is responsible to take part during the whole company dissolution procedure. As a registered liquidator in Vietnam, Cekindo can provide complete assistance in conducting all the necessary steps of the liquidation process.
As a leading consulting company in Vietnam, our services cover not only the liquidation services, as briefly mentioned above. We will take care of the whole process of terminating the legal status of your company in Vietnam.
Quick & Hassle-free Process
The duration of dissolving a company in Vietnam depends on various external conditions. However, with Cekindo, you can have peace of mind that no major delays will occur. Thanks to our extensive experience in the Vietnam market as well as a vast network of contacts, we guarantee the fastest process of company dissolution.