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Dissolution of FDI enterprise

Currently, foreign partners investing in our country are more and more powerful. However, for some reasons, foreign investors want to terminate their operations in Vietnam. And with practical experience in this field, Viet An Law is always ready to support customers with quick procedures and reasonable costs for this complicated dissolution procedures.

Conditions for dissolution of enterprises:

– End of operation term stated in the company’s Charter without extension decision;

– According to the decision of the owner of the enterprise to all private partners, of partnerships, of the Members’ Council and the company owner for limited liability companies, General Meeting of Shareholders for joint stock companies;

– The company no longer has a minimum number of members in accordance with the provisions of this Law for a period of 06 consecutive months without carrying out procedures for conversion of enterprises;

– Business registration certificate revoked.

The enterprise only dissolves when: guaranteeing the payment of all debts and other property obligations and not in the process of settling disputes at the Court or arbitration agency.

Procedures for dissolution of FDI enterprises:

Step 1: Terminate the investment project

– The enterprise sends a decision to terminate the operation of the investment project (attached to the Investment Registration Certificate) to the Investment Registration Agency within 15 days from the date of decision.

– The expected time to complete the termination of the investment project is 15 working days from the date of filing the valid application.

Step 2: Approving the decision to dissolve the enterprise:

The decision includes:

  • Name and address of the head office of the enterprise;
  • Reason for dissolution;
  • Time limit and procedures for liquidation of contracts and payment of debts of enterprises; the time limit for debt payment and contract liquidation must not exceed 6 months from the date of adoption of the dissolution decision;
  • Plan to handle obligations arising from labor contracts;
  • Full name and signature of the legal representative of the enterprise.

Step 3: Within 07 working days from the date of dissolution decision, the enterprise must:

  • Send Notice, Decision and valid copy of Meeting minutes of Members’ Council to Business Registration Office;
  • Send dissolution decision and meeting minutes to tax authorities and employees in the enterprise;
  • Post Decisions on dissolution on the National Portal on business registration and must be publicly posted at the head office, branches and representative offices (if any) of the enterprise.
  • In case the enterprise still has unpaid financial obligations, it must enclose with the Decision on dissolution of the debt settlement solution to the creditors, the person with related rights and obligations.

Step 4: Confirm obligations at the customs office

After posting the dissolution decision on the National Portal on business registration and being publicly posted at the head office of the company, the enterprise shall send an official dispatch to the General Department of Customs for confirmation of the customs obligation. agency to dissolve enterprises.

Step 5: Enterprises conduct liquidation of enterprise assets

Step 6: Conduct procedures to close the company tax code

The enterprise sends an official letter to the tax authority (enclosed with a certified copy of the Business Registration Certificate and Tax Registration Certificate) to obtain the tax finalization and close the tax code.

Step 7: Procedures at the business registration agency

Within 7 days after paying all debts of the company, the legal representative of the company must send the dissolution registration dossier to the provincial business registration office where the company is headquartered. or through the National Business Registration Portal at dangkykinhdoanh.gov.vn.

Note: In case enterprise use seals issued by Vietnamese police, they are responsible for paying seals, certificates of seal registration to the police office.

 Duration: 180 days after the date of dissolution decision is sent to the Department of Planning and Investment without the opposition of the parties, within 5 working days, the Business Registration Agency updates the legal status of the enterprise on the national database of business registration.

Viet An Law is always ready to exchange and support customers with necessary information. Please contact Viet An Law Firm for specific consultancy.

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