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.
Closing your company with finality in six steps.
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
2. Tax procedures
Lodging enterprise dissolution notifications with the authorities, closing your accounts and fulfilling any outstanding tax obligations, such as income tax filings and a final audit. This process continues through to obtaining written confirmation from the tax authority on fulfilment of tax obligations.
3. Insurance procedures
4. Application for closing the bank account
5. Registration for the dissolution to the Business Registration Division
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.
