What are needed to be done to close a Vietnamese company after settling the financial reports, bank accounts, contracts and employees benefits?

After settling the financial reports, bank accounts, contracts and employees benefits, the company, then, must submit a dossier to the Department of Planning and Investment to notify of its dissolution. DPI is the authority that handles and issues the final certificate of an enterprise’s dissolution according to the law.

The dossier must include the following items:

• The company’s original investment certificate;
• The company’s financial report for the latest fiscal year (independently audited);
• A complete list of creditors and paid debts (including debts from taxes and social insurance obligations);
• Board of Management meeting minutes regarding the dissolution of the company;
• The decision on the dissolution of the company;
• A notice on the dissolution of the company;
• Minutes of the asset liquidation meeting;
• A complete list of current employees and their resolved rights/ benefits;
• A letter from the tax authority certifying that the company fulfilled all of its tax obligations;
• A letter from the General Department of Customs certifying that the company has fulfilled its import-export tax obligations and closed its customs code;
• A letter from the Social Insurance Department certifying that the company has completed all of the necessary procedures and paid all the relevant insurance payments;
• A document from the Police certifying that the company stamp has been destroyed;
• A document certifying that the company has closed its bank account;
• Three consecutive issues of the same newspaper distributed throughout Vietnam with the declaration of dissolution of the company printed thereon;
• A written commitment stating the company does not have any copies of its investment certificate and will not keep any; and
• Any additional documents as requested by the Department of Planning and Investment.

The company will be deleted from the list of enterprises of Department of Planning and Investment, after all these documents are submitted and confirmed.