BUSINESS SUSPENSION

According to information published from the Department of Business Management (https://dangkylanhdoanh.gov.vn/vn/tin-tuc/597/6349/tinh-hinh-dang-ky-doanh-nghiep-thang-9-va- 9-month-dau-nam-2022.aspx): In the first 9 months of 2022, there were 112,698 businesses withdrawing from the market, an increase of 24.8% over the same period in 2021. In particular, the number of enterprises coming into business suspension in the first 9 months of 2022 is 62,544 businesses, an increase of 38.7% over the same period in 2021. The majority of enterprises coming into business suspension in the first 9 months of 2022 have short operation time for less than 5 years with 30,183 enterprises (accounting for 48.3%); Focusing mainly on small scale (under 10 billion VND) with 55,875 enterprises (accounting for 89.3%, an increase of 37.1% over the same period in 2021). This was greatly affected by the recent Covid-19 pandemic. Regarding procedures of registering for business suspension, please follow the article below.

Conditions for registration of business suspension

Enterprises, representative offices, and branches must notify the Business Registration Authority in writing at least 03 working days before the date of business suspension.

Dossier components

– Notice of business suspension;

– Meeting minutes of the Board of directors/Council of members; Decision of Owner; Decision of the Board of members/Board of directors on business suspension;

– Authorization document for the applicant;

– Relevant documents.

Competent authority to handle administrative procedures

Business Registration Office – Department of Planning and Investment.

Results of administrative procedures

Certificate of registration of enterprise, branch, representative office, business location registration for business suspension.

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Some notes after registering for business suspension

In case an enterprise, branch, representative office, or business location continues to do business before the announced deadline, the enterprise shall send a notice to the Business Registration Office where the enterprise, branch, or representative office is located no later than 03 working days before the date of resuming business before the announced deadline.

In case an enterprise, branch, representative office, or business location wishes to continue the business suspension after the expiration of the notified period, it must notify the Business Registration Office no later than 03 working days. before the date of continuing business suspension. The business suspension period of each notice must not exceed one year.