Procedures for dissolution of foreign representative offices
According to article 22 of Decree No. 72/2006/ND-CP on the detailed regulations on commercial law of representative offices and branches of foreign traders in Vietnam
Operation termination of representative offices and branches
1. Representative office or branch terminations in the following cases:
a) As the request of foreign traders and competent agencies to consent;
b) When foreign trader terminates the operation under the laws of the country where that traders established or registered business;
c) Expiry of operating term under the establishment license of representative offices and branches but foreign traders did not suggest to extend;
d) Expiry of operating time under the establishment license of representative offices and branches but the license issuing agencies didn’t agree to extend;
đ) Representative offices is revoked establishment licenses of representative offices and branches as stipulated in Clause 2 of Article 28 of this Decree.
2. Within at least 30 days before the intended date of operation termination of Representative offices and Branches stipulated in points a, b, c, Clause 1 of this Article, foreign traders must give notice the operation termination to agency issuing license, creditors, employees in representative offices and branches, people have rights, obligations and other related benefits. This notice shall specify the expected time to terminate the operation of representative offices and branches, must be publicly posted at the office of representative offices, branches and publish in print or electronic newspaper is permitted in Vietnam in 03 consecutive terms.
3. Within 15 days from the date of the decision not to extend permits for The establishment of representative offices, Branches or the date of the decision to withdraw the license as prescribed at Point d, Point đ Clause 1 of this Article, the license issuing agency must publish in print or electronic newspaper be released in Vietnam in 03 consecutive terms about operation termination of Representative offices, Branches and specified the time of operation termination of The office representatives and Branches.
4. Within 15 days from the day which foreign traders, Representative offices and Branches complete the obligations stipulated in Clause 3 or Clause 4, Article 23 of this Decree, the license issuing agency must remove the name of Representative offices and Branches in the Register.
5. Within 15 days from the date of deleting the Branch’s name, Ministry of Trade shall announce the operation termination of the Branch for the provincial People’s Committee, Department of Commerce, the tax agency, the statistic agency, the provincial police office where the branch is located.
Within 15 days from the date of deleting the names of Representative offices, The Department of Trade shall announce the termination of the Representative Office to the Ministry of Trade, provincial People’s Committee, the tax agency, statistical offices, the provincial police office where the representative office is located.
CONSULT DISSOLUTION PROCEDURE OF FOREIGN REPRESENTATIVE OFFICE IN VIETNAM
Consulting Services of Representative Office’s dissolution, TAM TAI is specialized in consulting process and completing procedure quickly, ensuring quality and legality for customers.
The content and work which TAM TAI commits to perform:
I. Consult the Legislation Regulation about the Representative office
1.Decision to dissolve The representative office,
2.Responsibilities of the head of Representative office after dissolution;
3.The relevant contents;
II. Prepare and complete the dissolution dossier Representative office
1.Announce about proposing of operation termination of The representative office
2.Certification Text of complete debts
4.Liquidation of office lease contract
5.The certificate paid stamp;
6.Other related papers;
III. Representatives perform the procedures at the Department of Industry and Trade
1.Prepare and submit documenst of dissolution at the Department of Industry and Trade
2.Inspection and monitoring process; promptly notify for your company
3.Receive revocation minutes of business registration certificate;
IV. Process to perform Dissolution procedures:
Make expected announcement of operation termination of The representative office (the parent company signed and stamped)
-Payment of obligations for employees, office.
-Make the personal income tax’s settlement of chief office and all staffs working in office at the time of closing office.
-Pay debts and other obligations to the state, organizations and other concerned individuals as prescribed by law (if any).
SETTLEMENT DOCUMENTS INCLUDES:
1.PERSONAL INCOME TAX’S SETTLEMENT OF REPRESENTATIVE OFFICE’S DIRECTOR IS FOREIGNER:
-Declaration of settlement
-Salary certificate (certified by the parent company)
-A list of amount of resident days
-The detail spreadsheet of the personal income tax
-Tax payment voucher
-Passport of the Chief Office (certified)
2.PERSONAL INCOME TAX’S SETTLEMENT FOR EMPLOYEES WORKING IN OFFICE:
-Declaration of settlement
-General Income Table
-Detailed list of income
-Authorization of settlement
-Tax payment voucher
-In this case social insurance and health insurance by self-employed person must submit social insurance’s vouchers or social insurance settlement
-A decision of the staff
-Place an advisement in the paper + return sign at the police.
Submit the completed documents at the Department of Industry and Trade, Including:
- Notice of operation termination
-The original establishment license of representative offices
-Copy of papers prove the representative office has completed a full tax obligations
-Confirmation text has completed the debts
-Liquidation of office rental contract
-The certificate paid stamp
V. Commitment after completion of Service:
1.Ensure accuracy about job content
2.Provide legal documents related to requests;
3.Free consultation the procedures after the dissolution;