Detailed Instructions For The Latest Business Suspension, Resumption Procedures
According to Law on Enterprise 2020, when an enterprise or branch/representative office/business location suspends its operation or resumes its operation ahead of schedule, a notification shall be sent to Business Registration Office where the enterprise or its branch/representative office/business location was registered at least 03 days before the date of suspension or resumption. The suspension period must not exceed one year.
Pursuant to Article 66 Decree 01/2021/ND-CP, if the company wants to continue to suspend its business after the notice period expires, it must notify the Business Registration Office at least 03 working days before the due date. The business suspension duration of each notification must not exceed one year. The limitation of total suspension period in the last Law on Enterprise has been removed.
1. Procedure for changing Business Suspension/ Resume Working procedure:
- Step 1: Prepare the dossier for business suspension/ resumption procedure;
- Step 2: Submit the dossier for business suspension/ resumption at Department of Planning and Investment (DPI);
- Step 3: Get the result (Business suspension/ resumption notification).
2. The dossier need to be prepared includes:
- Application for business suspension/ resumption
- The resolution/ decision and the copy of the minutes of meeting of the Board of Members of the multi-member limited liability company or partnership, or of the Board of Directors of the joint-stock company, or the resolution or decision of the owner of the single-member limited liability company on Business Suspension/ Resume Working
3. The highlight of business suspension:
- When the enterprise applies for registration of business suspension, the Business Registration Office shall change the enterprise’s legal status and status of its branches/representative offices/business locations on the National Enterprise Registration Database to “business suspension”;
- During the suspension period, the enterprise shall fully pay the unpaid taxes, social insurance, health insurance, unemployment insurance premiums and fulfill signed contracts with its clients and employees, unless otherwise agreed by the enterprise, creditors, clients and employees;
- The procedure for temporary business suspension of the company only needs to be submitted at the Department of Planning and Investment and is NOT required to be filed at the tax-managing agency of the enterprise.
4. Consultancy service for Business Suspension/ Resume Working procedure of Pham Consult
With a wealth of experience in consulting for business suspension/ resumption procedure and other legal issues, Pham Consult provides consulting services with the price-competitive, assisting you in:
- Consulting about provision of law regarding business suspension/ resumption procedure;
- Preparing the business suspension/ resumption dossiers;
- Directly working and explaning with authority in case of arisen problems;
- Being on behalf of clients for submitting and receiving the results at state agencies.
Please feel free to contact us as the following mailing address as soon as you have demand for business suspension/ resumption. Pham Consult always desires and undertakes that shall let you experience the best service ever with the price-competitive.