• Thứ Bảy, 23/01/2021, 02:11

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Thursday, 03/01/2019, 09:50

DISSOLUTION PROCESS OF FOREIGN - INVESTED COMPANY

Dissolving foreign companies (FDI) is one of the rights of investors.

Dissolving foreign companies (FDI) is one of the rights of investors. However, the dissolution of a foreign company or the termination of a foreign investment project must comply with the provisions of Vietnamese law. Otherwise, investors may lose investment incentives, tax inspections and/or may be investigated for transfer pricing. So VTV LAW provides implementation process:

Step 1: Liquidation of assets

  • The foreign companies must sell liquidated assets such as land, factories, machinery, cars and other assets.
  • The foreign companies can sell themselves or rent auction services of Law Firms.

Step 2: Finalizing corporate income tax and tax obligations related to production and business activities of enterprises.

  • The companies must finish all tax obligations then it  can be approved for closing the tax code.
  • The foreign companies must finish all tax obligations then they  can be approved for closing the tax code

Step 3: Social insurance settlement.

  • The foreign companies must finish their financial obligations with the local Insurance Agency and hand over the insurance book to the employees before dissolution.

Step 4: Termination of investment projects.

  • The foreign companies send documents and documents to terminate the project to the agency Issuing project registration papers.

Step 5: Dissolving the company

After completing all above steps the company are dissolved and terminated investment activities in Vietnam as well as exempt all related obligations

Please contact with VTV Law for specific advice on these issues as well as transfer profits to foreign countries in accordance with the law.