Decision form to suspend business for joint-stock company in Vietnam
In the context that the world and domestic economies affected heavily by the Covid-19 pandemic, many businesses choose to suspend their business. To carry out procedures for business suspension, you have to prepare the dossiers appropriate to the type of your company. Due to the difference in the type of business, the composition of the business suspension dossiers of each type of company has slightly different. In this article, LSX legal firm would like to guide you with: “Decision form to suspend business for joint-stock company in Vietnam”
Legal ground
- Law on Enterprise 2020
Joint-stock company
According to article 11 of the Law on Enterprise 2020:
Article 11: Joint stock companies
1. A joint stock company is an enterprise in which:
a) The charter capital is divided into units of equal value called shares;
b) Shareholders can be organizations and individuals; the minimum number of shareholders is 03; there is no limit on the maximum number of shareholders;
a) A shareholder’s liability for the company’s debts and liabilities is equal to the amount of capital contributed to the company by the shareholder;
d) Shareholders may transfer their shares to other persons except for the cases specified in Clause 3 Article 120 and Clause 1 Article 127 of this Law.
2. A joint stock company has the status of a juridical person from the day on which the Certificate of Enterprise Registration is issued.
3. A joint stock company may issue shares, bonds and other kinds of securities.
Conditions to establish a Joint-stock company
Name
The company name must not overlap or cause confusion with the name of a registered business in the whole country.
Headquarters
When establishing a joint-stock company, there must be a transaction office. The company can not use an apartment building or a collective building as the headquarter of a joint-stock company.
- The lines have to follow the code of the national economic system for a joint-stock company.
- Depending on the client’s request, the lawyer will give consultancy on the specific conditions of each business line of the business.
Charter capital
Charter capital means the amount of capital contributed or committed to contributing by a shareholder within a certain period of time. Also, they are recorded on the company charter. Enterprises take liability for their registered charter capital.
On the other hand, the company’s charter capital relates closely to the amount of license tax. Depending on the client’s request, the lawyer will give consultancy on the specific conditions of each business line of the business.
Shareholders
- At least 3 founder shareholders establish a joint-stock company.
- Shareholders must satisfy the requirements of the Law on Enterprise 2020.
Business suspension
The Law on Enterprise 2020 does not have any specific provisions on the concept of “temporary business suspension”. However, Clause 1, Article 41 of Decree 01/2021/ND-CP stipulates about business suspension as follows:
“1. “business suspension” means the enterprise’s legal status during its business suspension as prescribed in Clause 1 Article 206 of the Law on enterprises. Starting date of “business suspension” status is the date of business suspension registered by the enterprise. Ending date of “business suspension” status is the ending date of business suspension period as notified by the enterprise or the date of resumption of business ahead of schedule registered by the enterprise.”
In a shorter and simpler way, you can understand “business suspension” as Business suspension means when an enterprise temporarily stops carrying out business and production activities for a period of time.
Decision form to suspend business for joint-stock company
| CÔNG TY CỔ PHẦN… Số:…………../QĐ (1) | CỘNG HOÀ XÃ HỘI CHỦ NGHĨA VIỆT NAM Độc lập – Tự do – Hạnh phúc (2) |
QUYẾT ĐỊNH (3)
(V/v tạm ngừng hoạt động) (4)
HỘI ĐỒNG QUẢN TRỊ CÔNG TY …… (5)
- Căn cứ Luật Doanh nghiệp 2020; (6)
- Căn cứ vào Điều lệ Công ty cổ phần ……………………; (7)
- Căn cứ vào biên bản cuộc họp Hội đồng quản trị Công ty cổ phần …………….. về việc tạm ngừng kinh doanh; (8)
- Xét tình hình kinh doanh của công ty. (9)
QUYẾT ĐỊNH (10)
Điều 1:Tạm ngừng hoạt động như sau: (11)
Thời gian tạm ngừng:………………………………………………………………… (12)
Thời điểm bắt đầu tạm ngừng: Ngày ………..tháng ……….. năm …… (13)
Thời điểm kết thúc: Ngày ………..tháng ……….. năm ………… (14)
Lý do tạm ngừng:………………………………………………………………… (15)
Điều 2: Giám đốc Công ty có trách nhiệm triển khai và hoàn tất các thủ tục để thực hiện đúng các nội dung đã được phê duyệt tại Điều 1 đảm bảo có hiệu quả. (16)
Điều 3: Quyết định này có hiệu lực kể từ ngày ký. Giám đốc công ty, Trưởng các phòng ban và các Ông, Bà có liên quan chịu trách nhiệm thực hiện quyết định này. (17)
…….., ngày …….tháng…….năm …….. (18)
| Nơi nhận: – Sở kế hoạch và đầu tư ……….. (19) – Lưu VP./. | TM HỘI ĐỒNG QUẢN TRỊ CHỦ TỊCH HĐQT (Ký, đóng dấu và ghi rõ họ tên) (20) |
Explanation:
1: Joint-stock company…Number:…./Decision
2: SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom – Happiness
3: DECISION
4: (V/v business suspension)
5: Board of Directors of the company
6: Based on the Law on Enterprise 2020
7: Based on the company charter
8: Based on minutes of meeting of the Board of Directors…..on the business suspension
9: Consider the business situation of the company.
10: DECISION
11: Article 1: Suspension of operation as follows
12: Suspension period
13: Suspension start time: DD/MM/YY
14: Suspension expire time: DD/MM/YY
15: Reasons of business suspension
16: Article 2: The Director of the Company is responsible for implementing and completing the procedures to properly implement the approved contents in Article 1 to ensure effectiveness.
17: Article 3: This Decision takes effect from the date of signing. The director of the company, the heads of the departments and the relevant Mr. and Mrs. are responsible for implementing this decision.
19: DD/MM/YY
19: Receiving place: – Department of Planning and Investment
20: BOARD OF DIRECTORS, CHAIRMAN (Signature, stamp and full name)
Business suspension service of LSX Legal Firm
Business suspension-a necessary solution for businesses when they cannot continue doing business for a specified period of time. Suspending business quickly will help businesses avoid unnecessary costs. Meanwhile, the business suspension process contains complicated procedures so if businesses do it themselves, they will face many risks. Using the business suspension service of LSX will make you feel secure in each stage of implementation.
To make your case more convenient, LSX will perform:
- Legal advice related to new regulations in business suspension;
- Representing in drafting and editing documents;
- We commit the papers to be valid, and legal for use in all cases;
- Represent to submit documents, receive results, and hand them over to customers.
With a team of experienced, reputable, and professional consultants; The firm is always ready to support and work with clients to solve legal difficulties.
Furthermore, using our service, you do not need to do the paperwork yourself, We guarantee to help you prepare documents effectively and legally.
Also, you will not have to waste time preparing the application, submitting application, or receiving results. At those stages, we will help you do it smoothly.
After all, LSX provides the service with the desire that customers can experience it the best way. Additionally, we guarantee the cost to be the most suitable and economical for customers.
Related articles
Does suspended business have to pay license tax in Vietnam?
Meaning and characteristics of shares in a joint stock company in Vietnam
Things to know for foreigners about joint stock companies in Vietnam
Related questions
Choose the type of business that suits your actual conditions.
Name the company.
Address to locate the company’s headquarters.
Choose suitable business lines.
Select the appropriate level of charter capital.
Prepare to pay the tax corresponding to the registered charter capital.
Select a qualified legal representative to run the business.
Prepare application for business registration.
…
Firstly, company’s name
Secondly, address of head office
Thirdly, company’s business lines
Lastly, charter capital
Business operations of an insurance Joint-stock company include:
Insurance business, reinsurance business;
Preventing and limiting risks and losses;
Damage assessment;
Loss assessment agency, considering compensation settlement, requesting a third party to reimburse;
Fund management and capital investment;
Others operations prescribed by the law.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Decision form to suspend business for joint-stock company in Vietnam”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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