Notice of temporary suspension of business in Joint Stock Company

1. Regulations on notice of temporary suspension of business for joint stock companies

At least 03 working days before the date of temporary suspension of business, the joint stock company must notify the Business Registration Office (see detailed instructions in Section 2).

When carrying out procedures for temporary suspension of business, a joint stock company must also simultaneously notify the temporary suspension of operations of its branches/representative offices/business locations.

The period of temporary suspension of business shall not exceed 01 year. After the notified period expires, if the company still needs to continue the temporary suspension of business, it must make a new notification at least 03 working days before the date of continued temporary suspension of business.

During the period of temporary suspension of business, the joint stock company must pay all outstanding taxes; social insurance, unemployment insurance, health insurance; continue to pay debts, complete the implementation of signed contracts with customers and employees; unless the joint stock company, creditors, customers and employees have other agreements.

2. Procedures for notification of temporary suspension of business for joint stock companies

Profile components include:

1. Notice of temporary suspension of business (Appendix II-19 form issued with Circular 01/2021/TT-BKHĐT);

2. Decision of the Board of Directors on temporary suspension of business;

3. Valid copy of the Minutes of the Board of Directors' meeting on temporary suspension of business;

4. For companies operating under an Investment License, Investment Certificate (which is also a Business Registration Certificate) or other documents of equivalent legal value, please submit the following:

- Valid copy of Investment License, Investment Certificate or equivalent documents;

- Valid copy of the company's Tax Registration Certificate;

- Application for supplementing and updating business registration information (Appendix II-14 form issued with Circular 01/2021/TT-BKHĐT).

5. Authorization letter for the person submitting the application and receiving the results if he/she is not the legal representative. This document does not need to be notarized or authenticated;

6. A valid copy of one of the following personal identification documents of the authorized person performing the procedure (if any):

- For Vietnamese citizens: Valid Citizen Identification Card or National Identity Card or Vietnamese Passport.

- For foreigners: Valid foreign passport or document in lieu of a valid foreign passport.

3. Place to submit application: Business Registration Office - Department of Planning and Investment where the company is headquartered.

Processing time: Within 03 (three) working days from receipt of valid documents.

In addition, an operating joint stock company that sends a document to the directly managing tax authority or the business registration authority regarding the temporary suspension of production and business activities during the calendar year (from January 1 to December 31) is not required to pay the business license fee for the year of temporary suspension of business activities, provided that: The document requesting temporary suspension of production and business activities is sent to the tax authority or the business registration authority before the deadline for paying the fee as prescribed (January 30 of each year) and the business license fee for the year of temporary suspension of production and business activities has not been paid.

In case of temporary suspension of production and business activities that do not meet the above conditions, the annual business license fee must be paid. Please see details at the job: Declaration and payment of business license fees