How To Apply for Company Dissolution Online

Dissolving an enterprise, or terminating its legal status and obligations, is a crucial process that requires careful planning and execution. Thankfully, Vietnamese law allows for online dissolution, saving businesses time and costs while ensuring transparency and efficiency. Read this article from NT International Law Firm to know how to apply for company dissolution online.

What is Company Dissolution?

Before embarking on the online dissolution journey, it’s crucial to understand the concept itself. Enterprise dissolution, as defined by Vietnamese law, signifies the formal termination of a business’s operations. This can occur for various reasons, including:

• Reaching the end of the operating term: As stipulated in the company charter, some businesses are established for a predetermined period. Upon reaching this endpoint, dissolution becomes a natural progression.
• Owner decision: The business owner may choose to dissolve the enterprise due to various factors, such as changing business goals, market fluctuations, or personal circumstances.
• Non-compliance with legal requirements: Businesses failing to meet the minimum member requirement or disregarding legal regulations may face mandatory dissolution by the competent authority.

What is Company Dissolution?

Benefits of Online Dissolution:

With the introduction of online dissolution procedures, businesses now benefit from:

• Convenience: The entire process can be completed electronically, eliminating the need for physical visits to government offices, saving time and resources.
• Time-efficiency: Online applications are processed faster compared to traditional methods, allowing for quicker business closure.
• Transparency: The online platform provides real-time updates on the application status, ensuring full transparency and accountability.
• Reduced costs: By eliminating the need for physical document submission and travel expenses, businesses can significantly reduce the financial burden of dissolution.

Dissolving Your Enterprise Online: Step-by-Step

Here’s a comprehensive guide to online business dissolution in Vietnam:

1. Login and Navigate:

• Visit the National Business Registration Information System website: https://dangkyquamang.dkkd.gov.vn/.
• Log in to your existing account or register if you haven’t already.
• Select “Electronic Business Registration” followed by “Change Business Content” and then “Dissolve the Business.”

Dissolving Your Enterprise Online: Step-by-Step

2. Submit Dissolution Application:

• Prepare the required documents as per Article 210 of the Enterprise Law 2020. These include:
  • Notice of enterprise dissolution.
  • Report on liquidation of corporate assets.
  • List of creditors and paid debts, including tax debts and social insurance, health insurance, and unemployment insurance payments for employees (if applicable).
• Upload these documents while filling in the online application form.

3. Application Submission:

• Click “Prepare” after filling the form.
• Enter the displayed confirmation number.
• Select the management area and click “Accept.”

4. Account Verification:

• Click “Sign book/verify business registration account.”
• Follow the provided steps to digitally sign and verify your account.

5. Payment:

• Click “Pay” and enter the required payment information.
• Confirm the payment.
• The application status will change to “Receiving” on the system.

6. Monitor and Receive Approval:

• Regularly check the application status on the system.
• When the status changes to “Approved,” your business dissolution is successful.

Can Someone Else Do It?

Yes, you can authorize someone else to dissolve your business online. This can be done through a legally authorized power of attorney. The authorized person can then follow the same steps mentioned above to complete the online dissolution process.

Additional Tips:

• Ensure all information submitted is accurate and complete to avoid delays or complications.
• Consult a legal professional for guidance and support throughout the process, especially if facing complex situations.
• Stay updated on any changes in regulations or procedures for online business dissolution.

NT International Law is Here to Help:

NT International Law Firm has addressed the question of how to apply for company dissolution online. If you have any further questions or concerns regarding corporate law, please contact our law firm immediately for expert legal advice.

If you require any legal assistance, please feel free to reach out to us via phone at 090 252 4567 or through email: info@ntpartnerlawfirm.com. At NT INTERNATIONAL LAW FIRM, our team is committed to offering you prompt and personalized advice.

You also might be interested in:

• The 2015 Civil Code in English
• The 2020 Law On Enterprises in English