Temporarily Closing Company

Temporarily Closing Company

Your company wants to suspend business for a short time to change business strategy or restructure. Please get in touch with INNO!

Service fee

Service fee for a temporary close company at INNO is VND1,000,000.

INNO commits to

  • Completing within 3 working days.
  • Delivery of documents and result to the place.

Some notes when temporarily closing a company

Please note the following information when you suspend your business:

  • Company want to temporarily closing must apply to the Department of Planning and Investment at least 03 days in advance from the date of wanting to suspend. So, if you intend to suspend your business temporarily, please get in touch with INNO soon.
  • The maximum suspension time for one application is 01 (one) year. After the suspension period, the business status will be automatically updated to be operating again on the system of the state agencies. You must submit a new application if you want to continue suspending your business.
  • Suppose the business suspension has not expired, and your company wants to resume operation. In that case, you must apply for re-operation at least 03 days before the resumption date.

Refer to INNO’s Re-opening business service

  • License fee (tax), and tax declaration obligations:
ObligationFull-year suspending (From 1 st January to st December)Non-full year suspending
(Eg: from 4th July to 31st December) 
License feeExemptMust pay because there is activity during the year (time of not suspending business)
Monthly/quarterly tax returnNo need to file a declarationMust submit monthly/quarterly declarations for the months/quarters of business activities (not yet submitted for suspension)
Financial Statements and Annual tax finalizationNo need to file a declarationMust file because of business activities during the year
  • Finally, during the business suspension, company should still fulfill tax obligations if have tax debts, do not sign business contracts, and do not issue invoices during this time.
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