SERVICE FOR TEMPORARY BUSINESS SUSPENSION OF ENTERPRISES

 

I. SERVICE PROVISION PROCESS AT VINASC:

 

Step 1: VINASC receives basic information about the temporary business suspension of enterprises

• Information about the project and the enterprise expected to temporarily suspend operations: Investment Registration Certificate; Enterprise Registration Certificate
• Duration of the suspension and the start date of the temporary business suspension
• Vinasc will review the specific legal requirements involved to develop an implementation plan for the service.

Step 2: Prepare necessary dossier

• The two parties discuss and agree on the content of the service, then Vinasc bases on them to prepare the necessary documents to hand over to the business for authentication.
• Vinasc receives the complete authenticated dossier along with the documents that the business needs to prepare to complete the dossier.

Step 3: Submit the application to the competent authority as prescribed

• Submit the application for temporary suspension of the investment project to the investment registration authority.
• Submit the application for temporary suspension of the enterprise’s business activities to the business registration authority.

Step 4: Track the processing of documents

• VINASC monitors the dossier processing process step by step and reports the progress to the business as requested. In case of need to modify, supplement information, documents, Vinasc is responsible for completing it as soon as possible to limit work interruption.

Step 5: Complete the service & Deliver the results to the client

• Review all the steps of the service implementation to ensure that the service has been completed comprehensively
• Transfer to the business the specific results that Vinasc collects on behalf of the business during the service provision process.

 

II. SPECIFIC RESULTS

• Confirmation document of temporary suspension of the investment project.
• Confirmation document of temporary suspension of business activities of the company.

III. ESTIMATED IMPLEMENTATION TIME

• Confirmation document of temporary suspension of the investment project: 15-20 working days.
• Confirmation document of temporary suspension of business activities of the company: 05-07 working days.

The above estimated time is calculated from the day Vinasc receives the complete required documents sent by you.

*Summary Table of Required Documents

 

No.	Required documents	Implementer
		Customer (1)	Vinasc Group (2)	Vinasc Group handles on behalf of our client (3)
1	Copy of Investment Registration Certificate (IRC); Enterprise Registration Certificate (ERC)	X		X
2	Application for temporary suspension of investment project:   Notice of temporary suspension of the investment project;   Minutes of meeting (if any) on the suspension by the investor;   Decision on suspension by the investor; Power of attorney.		X
3	Application for temporary suspension of enterprise’s business: Notice of temporary suspension of business activities;   Minutes of meeting (if any);   Decision on temporary suspension of business;   Power of attorney.		X

 

(*) According to the procedure, the customer is responsible for completing the documents in column (1), and Vinasc will be responsible for completing the documents in column (2).

(*) In some cases, if the customer has difficulty preparing the documents, Vinasc can complete the documents in column (3) on their behalf. However, in this situation, we must examine each specific case and the following issues may arise:

– Additional document preparation costs (these costs will vary depending on the government agency and the legal regulations in Vietnam at each stage)

– Additional time required to prepare these documents

(*) During the preparation process, the customer should send a scanned copy of all the above documents in advance so that we can prepare the documents in a timely manner.

(*) In some special cases, the government agency may request additional information to supplement the documents.

IV. REGULATIONS ON TEMPORARY CESSATION OF BUSINESS ACTIVITIES

Enterprises temporarily ceasing business operations must send a notification to the Business Registration Office where the enterprise is headquartered no later than 03 working days before the date of cessation. If an enterprise notifies of temporary cessation of business before January 30th, the enterprise is not required to pay the license fee for the year of cessation if it has not yet paid the fee. If the fee has already been paid, it will not be refunded.

According to point c, clause 1, Article 50 of Decree 122/2021/ND-CP, a fine of 10,000,000 VND to 15,000,000 VND will be imposed for failure to notify or notify the business registration authority of the time and duration of the temporary cessation of business outside the prescribed time limit.

*Status of dependent units when the enterprise ceases business operations:

In case an enterprise registers for temporary cessation of business, the Business Registration Office will update the legal status of the enterprise and the status of all branches, representative offices, and business locations of the enterprise in the National Database on Enterprise Registration to the status of temporary cessation of business.

In addition, depending on the needs of customers, VinaSC often advises and supports investors to control well the contents related to the above services such as: tax-accounting, labor, social insurance, salary, sub-licenses… in a complete and compliant manner with the laws of Vietnam that you can refer to.

Please contact VinaSC for advice, support and detailed quotes for the above services.