Company dissolution
in Vietnam.

If you choose to close a company in Vietnam, you need to go through the formal process of dissolving it to avoid problems in the future. We can assist you with the relevant procedures of voluntary windup.

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Dissolution process

Closing your company with finality in six steps.

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Your company continues to exist as a legal entity until you decide to dissolve it. The windup process for Vietnamese companies and representative offices can be drawn out and time-consuming, primarily due to the tax finalisation and tax clearance required as part of the process. We work with investors to understand their needs, provide realistic timeframes for windups, and to control the process so that they can efficiently finalise the windup.

In Vietnam, the overall process for winding up a company (regardless of your operation status) includes six primary stages related to accounting & tax and statutory work.

1. Announcement on dissolution of the Vietnam company

Application for enterprise dissolution notification at the Business Registration Division – Ho Chi Minh City Department of Planning and Investment (DPI)

2. Tax procedures

Lodging enterprise dissolution notification with the authorities, closing your accounts and fulfilling any outstanding tax obligations, such as income tax filings and a final audit, through to obtaining the written confirmation from the tax authority on fulfilment of tax obligations

3. Insurance procedures

Applying for the written confirmation from the Insurance Department on no outstanding insurance debts

4. Application for closing the bank account

Working with your bank and undertaking relevant procedures to close your company’s corporate bank account

5. Registration for the dissolution to the Business Registration Division

Collecting information, preparing documents, and lodging with DPI, and obtaining the notification from DPI on updating the company’s dissolution status

6. Termination of investment project at the Investment Registration Office

Preparing the application file, collating other required documents, and lodging them with the DPI until obtaining the document issued by the DPI regarding investment project dissolution status If your entity was inactive, the estimated timeline for the company dissolution process is around six months. The specific duration is, however, dependent on the related authorities. Estimated fee, subject to change based on case complexity
FAQ

Common questions.

Can I apply for dormant status for my company in Vietnam?
 
How long does it take to dissolve a company in Vietnam?
When seeking to wind up, or liquidate, a company in Vietnam, care needs to be taken to appreciate the tax process and exposures that arise. The winding up stage represents the last opportunity for authorities to obtain taxes, penalties or outstanding payments from investors in Vietnam, and the authorities take this very seriously. Further, as the process is dependent on tax authority clearance, the timing for finalisation is often hard to predict and can stretch out for over 12 months in cases.
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Let our teams cover all requirements for closing your company with finality.

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on starting & managing your company
in Vietnam.

Matthew Lourey, Managing Partner
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+84 28 3535 8200 (HCMC)

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