Procedures for dissolution of a representative office in Vietnam. General provisions on termination of operation of representative offices of enterprises in Vietnam. Let us learn about this topic with LSX Law firm below:
Dissolution or termination of operation of a representative office is the termination of activities by the enterprise as well as the rights and obligations of the representative office to the enterprise and related agencies and units.
General provisions on termination of operation of representative offices of enterprises in Vietnam
In general, the representative office of an enterprise may terminate its operation under the decision of the enterprise itself or according to the decision on revocation of the representative office operation registration certificate issued by a competent state agency.
The legal representative of the enterprise; the head of the dissolved representative office is jointly responsible for the truthfulness; accuracy of representative office termination records.
Besides, within 05 working days from the date of receipt of complete dossiers for operation termination of representative offices; The business registration authority updates the legal status of the representative office on the National Business Registration Database.
Procedures for dissolution of a representative office in Vietnam
Documents composition for dissolution of a representative office in Vietnam
Firstly, notice of termination of operation of representative office according to the form;
Besides, the enterprise’s decision on the termination of representative office operations includes the business owner’s decision for a private enterprise; of the owner or the Chairman of the Members’ Council or the company’s president; for a one-member limited liability company; of the Members’ Council, for limited liability companies with two or more members; of the Board of Directors for joint-stock companies, of the general partners for a partnership on the termination of the representative office operation; or the decision on revocation of the representative office operation registration certificate issued by a competent state agency;
In addition, list of creditors and unpaid debts and social insurance premiums;
Moreover, the current list of employees and their respective benefits;
Furthermore, Certificate of operation registration of the representative office;
Also, Seal of the representative office (if any).
A written request for addition and update of information on operation registration (in case a representative office is affiliated with an enterprise that is granted an investment license, an investment certificate or an equivalent legal document).
Submit the documents
Method of implementation: Enterprises submit documents electronically to the Business Registration Office where the enterprise locates its representative office.
In addition, termination of representative office operations: Upon termination of representative office operations; the enterprise sends a Notice of termination of operation of the representative office to the Business Registration Office where the representative office is located.
Besides, enterprises shall submit a complete application for registration of termination of representative office operations as prescribed through the National Portal on online business registration.
Also, for the termination of operation of a representative office, the Notice must be enclosed with the prescribed papers; in which the decision of the enterprise to terminate the operation of a representative office includes the decision of the business owner, for a private enterprise, of the owner or the chairman of the Members’ Council or the company’s president, for single-member limited liability companies, of the Members’ Council, for limited liability companies with two or more members, of the Board of Directors, for joint-stock companies, of general partners, for public companies. partnership on termination of representative office operations.
Documents settlement for dissolution of a representative office in Vietnam
The Business Registration Office receives the notice and checks the validity of the application; changes the legal status of the representative office; and at the same time issues a Notice on the termination of operation of the representative office.
If the application is valid, the business registration agency shall issue a valid notice; update information on the termination of operation of the representative office at the request of the enterprise.
In case the application is not valid; The business registration authority shall issue a written notice for the enterprise to amend; additional profile.
The time limit for settlement: Within 05 (five) working days from the date of receipt of complete and valid dossiers as prescribed.
Get results for dissolution of a representative office in Vietnam
The Business Registration Office receives the notice and checks the validity of the application; change the legal status in the Database to decommissioned status; and at the same time issue a Notice on the termination of operation of the representative office.
In case the representative office terminates its operation due to the revocation of the operation registration certificate
In case a representative office has its Certificate of operation registration revoked: The business registration authority shall issue a decision on revocation in case the representative office stops operating for 01 (one) year without notifying the Registration Office. business registration and management tax authorities.
Processing representative office termination dossiers:
The Business Registration Office sends a written notice of the violation; requests the legal representative of the enterprise to come to the office of the Department to explain according to the appointment letter.
After 10 (ten) working days from the end of the appointment period in the notice, if the requested person does not come to give an explanation, the Business Registration Office shall issue a decision to revoke the Certificate of operation registration of the representative office.
From the date the Business Registration Office issues a decision to revoke the operation registration certificate of the representative office, the representative office of the enterprise automatically ceases to operate, the related transactions from the date of issuance of the notice. This notice is no longer valid.
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Related questions
As can be seen, a representative office is a dependent unit of the enterprise; has the task of representing as authorized for the interests of the enterprise; protect those interests. Enterprises have the right to set up representative offices in the country and abroad. An enterprise may set up one or more representative offices in a locality according to administrative boundaries.
The level of sanction for representative offices of foreign traders in Vietnam; specified in Article 67 of Decree 98/2020/ND-CP; as follows:
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