Question: I would like to close company and its branch office. Please quote.
Answer:
We understand that Client is now considering closing its business in Vietnam. We therefore would like to send herewith our legal service proposal for your kind consideration.
1. SCOPE OF WORKS
Our services in this regard will include:
| SCOPE OF SERVICES |
| Preparation of the application documents:
· Notifying application documents required in accordance with Vietnamese law; · Drafting application documents required for submission purpose in English language; · Liaising with you to discuss the draft application documents; · Amending the application documents based on your comments; · Obtaining preliminary comments from the licensing authority on the draft application documents; · Finalizing the application documents following comments from the licensing authority; and · Translating the final version of the application documents into Vietnamese for execution. |
| Licensing procedures:
· Submitting the application dossier to the licensing authority on your behalf; · Monitoring and following up with the relevant authorities on the approval process; · Keeping you updated on the developments and additional requirements, if any; and · Assisting you in obtaining final result from Competent Authorities.
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We anticipate that in order to complete the proposed closure, Client shall have to complete following steps:
a, Finalizing Tax Obligation, Social Insurance and Closing Tax Code: Client shall be responsible for finalizing Tax Obligation, Social Insurance and Closing Tax Code for both Head Office and its Branch Office in Ho Chi Minh
b, Submission of application dossier for closing Branch Office: Within 02 working days from receipt of duly signed and sealed application dossier and completing finalization of tax obligation and social insurance, we shall submit the application dossier to the Licensing Authority for closing Branch Within 05 working days from submission of application dossier to the competent authority, the competent authority shall confirm the legality of application dossier with Application Dossier Receip Certificate and placing announcement on closure of Branch Office on the Portal of Enterprise Registration. After 30 days from placing announcement on closure of Branch Office on the Portal of Enterprise Registration, we shall supplement documents for finalzing application dossier for closure of Branch Office. Notification on closure of Branch Office shall be launched within 05 working days after receiving confirmation letter from Tax Office on no pending tax obligation of the Branch Office.
c, Submission of application dossier for closing Head Office: Within 02 working days from receipt of duly signed and sealed application dossier and completing finalization of tax obligation and social insurance, we shall submit the application dossier to the Licensing Authority for termination of Investment Within 05 working days from submission of application dossier to the competent authority, the competent authority shall confirm the legality of application dossier with Application Dossier Receip Certificate.
Within 02 working days upon receipt of Application Dossier Receipt Certificate for termiation of Investment Project, we shall submit application dossier to the Licensing Authority for closing the Head Office. Within 05 working days from submission of application dossier to the competent authority, the competent authority shall confirm the legality of application dossier with Application Dossier Receip Certificate and place announcement on closure of Company on the Portal of Enterprise Registration. After 30 days from placing announcement on closure of Company on the Portal of Enterprise Registration, we shall supplement documents for finalzing application dossier for closure of Company. Notification on closure of Company shall be launched within 05 working days after receiving confirmation letter from Tax Office on no pending tax obligation of the Company.
Note: SB Law shall notify Client if there is any change on actual time line due to change of work schedule from Competent Authority.
2. DELIVARABLES
The Deliverables will include documents prepared in Vietnamese and English as required for submission to licensing bodies.
3. PROFESSIONAL FEE
The Total price for performing the SB Law services as mentioned in item 3 above will be as follows:
- For Closing Branch Office: 48,000,000 VND (Forty Eight Million Vietnam Dong);
- For Closing the Company: 60,000,000 VND (Sixty Million Vietnam Dong);
The above said fee is is exclusive of:
- VAT (10% of total cost);
- Actual cost for translating documents issued by foreign competent authorities or other internal documents etc provided by Client from English into Vietnamese (200,000VND/150 words);
- Governmental fee including tax obligation, penalty or sanction incurred on Client behalf (if any).
