Mastering the Art of Starting a Business in Vietnam

Starting a business in Vietnam is a coveted dream for countless entrepreneurs and business proprietors. However, the journey from inception to success is a challenging one. Globally, a staggering 90% of startups face the daunting prospect of failure, a statistic that raises eyebrows.

The harsh reality is that no business fails without forewarning. For astute business owners, there exist telltale signs that, if recognized in time, can lead to a significant reduction of losses through the dissolution of a company in Vietnam.

Discover Cekindo’s Expert Company Dissolution Services in Vietnam

Recognizing these critical indicators of impending failure is imperative for business survival. In this article, we will delve into some of these signs that could signal trouble for your business in Vietnam.

2. Signs of Impending Business Failure in Vietnam:

Sluggish Revenues and Sales

The primary goal for entrepreneurs venturing into business in Vietnam is to increase sales and turn a profit. If your sales and revenues have been consistently lackluster over several months, and you find yourself struggling to devise strategies to revitalize them, this is an undeniable red flag of impending failure.

Delinquent Bill Payments

Consistently failing to meet your financial obligations is a perilous path to tread. Late payments erode the trust of your vendors and can jeopardize the very existence of your business in Vietnam. Moreover, it can lead to legal entanglements that may spell the end of your enterprise.

Absence of a Competitive Edge

Lacking a distinctive competitive edge means your business offers nothing unique that would compel customers to choose you over your competitors. In essence, your business is destined to stagnate, and your sales will inevitably suffer.

3. Navigating Company Dissolution in Vietnam

Company dissolution in Vietnam Dissolving a company in Vietnam is a complex process that demands a high level of expertise and professionalism. It involves navigating through a labyrinth of intricate financial and legal procedures, often requiring a significant amount of time.

Consequently, embarking on a company dissolution in Vietnam should prompt you to seek assistance from a reputable company dissolution expert.

Terms and Conditions

A company in Vietnam can only be dissolved under specific circumstances, which include:

• The decision for dissolution is reached by the owner, partners, Board of Members, or General Meeting of Shareholders, depending on the company's structure.
• The operational period stipulated in the company's charter has expired without an extension decision.
• The company is unable to maintain the minimum required number of members.
• The business registration certificate is revoked.

To dissolve a company in Vietnam, it must meet the following prerequisites:

• All debts and liabilities of the company must be settled.
• The company must not be involved in any court disputes or arbitration tribunal cases.

Procedure for Dissolving a Company in Vietnam

• Apply to the Department of Planning and Investment (DPI).
• A company holding an investment registration certificate must conclude all active investment projects.
• Upon approval, submit the dissolution decision and minutes of meetings to the relevant authorities.
• The dissolution decision will be made public on the National Business Registration portal and at the company's headquarters, representative offices, and branches.
• Fulfill all tax liabilities with the tax authority.
• Register the company's dissolution and return the enterprise registration certificate.

4. How Cekindo Can Assist You?

Cekindo stands as a prominent company with extensive experience in business consultancy and company dissolution in Vietnam.

Over time, we have been a guiding force for numerous businesses in Vietnam, expertly steering business owners through the company dissolution process. We are a legally registered firm with our company dissolution process adhering to Vietnamese laws and regulations.

The dissolution and liquidation of a company can be a protracted and intricate process, particularly when it comes to paperwork and procedure. However, our skilled legal consultants at Cekindo can navigate the path to deregister or dissolve your company with remarkable efficiency, saving you invaluable time and resources.