Business dissolution service

Business dissolution is a relatively complicated procedure in the business registration procedures. The procedure goes through many steps and must pay all debts of taxes, employees, etc. making it difficult for businesses to implement.

1. Conditions for business dissolution:

An enterprise may only be dissolved when it meets the following conditions:

• The enterprise pays all debts and property obligations such as: tax debts; unpaid salaries, severance pay, social insurance, health insurance, unemployment insurance premiums and other benefits of employees, etc

• The enterprise is not in the process of resolving disputes in court or commercial arbitration.

• The enterprise must implement the procedure for dissolving the operation of branches, representative offices and business locations of the enterprise (if any) before submitting the application for business dissolution.

Business dissolution

2. Business dissolution procedure:

Step 1: Ratify the resolution, decide to dissolve the enterprise

Step 2: Liquidation of corporate assets

Step 3: Notify the decision to dissolve the enterprise to the Business Registration Office

Step 4: Enterprises implement the procedure to fulfill tax obligations with tax authorities and pay outstanding debts and pay fines for violations (if any).

• Propose document for invalidation of the tax identification number.

• Decision on dissolution (the owner (for sole proprietorships), the Board of Partners (for partnerships), the Board of Members and the owner (for limited liability companies) or the GMS (for joint stock companies).

• Copy of the meeting of the Members' Council or the General Meeting of Shareholders on the dissolution of the enterprise.

• A copy of the Business Registration Certificate;

• If the enterprise has import-export activities, they must add a written certification of fulfillment of tax obligations by the General Department of Customs;

Step 5: The enterprise returns the seal, the certificate of seal sample registration to the police agency if the enterprise uses the seal issued by the police agency.

Step 6: Submit the application for the business dissolution.

Implement date: Within 05 working days from the date of receiving the application for the business dissolution, the Business Registration Office will transfer the legal status of the enterprise in the National Business Registration Database to the dissolved state. If it does not receive the tax authority's refusal, and at the same time notify regarding the business dissolution.

Siglaw has done a lot of business dissolution documents in Vietnam, with our experience, we will the best solution to help businesses solve problems and implement business dissolution procedures as quickly as possible. 

3. Legal basis:

Law on Enterprise 2020