Step 1: Make the decision to temporarily suspend operations.
The business decides to temporarily suspend operations in accordance with its charter or internal regulations.
- Limited Liability Companies, Joint Stock Companies: Hold Board of Directors/General Meeting of Shareholders and issue Resolutions
- Private enterprise: The business owner makes the decisions.
Step 1: Make the decision to temporarily suspend operations.
The business decides to temporarily suspend operations in accordance with its charter or internal regulations.
- Limited Liability Companies, Joint Stock Companies: Hold Board of Directors/General Meeting of Shareholders and issue Resolutions
- Private enterprise: The business owner makes the decisions.
Step 1: Make the decision to temporarily suspend operations.
The business decides to temporarily suspend operations in accordance with its charter or internal regulations.
- Limited Liability Companies, Joint Stock Companies: Hold Board of Directors/General Meeting of Shareholders and issue Resolutions
- Private enterprise: The business owner makes the decisions.
Business Suspension Consulting Services
MAN provides consulting and support services for temporary business suspension procedures for enterprises, branches, business locations, and representative offices, tailored to their specific needs. The service focuses on reviewing the business status, preparing documentation, notifying the Business Registration Authority, and reviewing issues requiring attention during the suspension period.
Depending on the business's situation, MAN can assist with everything from a single procedure to a comprehensive review of all related obligations before, during, and after the business resumes operations.
What kind of support does MAN provide when a business temporarily ceases operations?
The service is designed to help businesses follow the correct procedures and minimize problems that may arise during periods of temporary suspension.
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Procedures and documents
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Obligations and activities resume
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When should a business temporarily cease operations?
Temporarily suspending operations may be a suitable option when a business does not want to cease operations but needs time to adjust its business plan or address internal issues.
- The business is temporarily not operating.
- The company needs time to restructure its operations.
- Organizational, personnel, or business model adjustments are needed.
- Financial or cash flow issues need to be addressed.
- The company is preparing to change its business direction.
- The owner needs time to evaluate whether to continue or cease operations.
Temporary suspension is not a substitute for dissolution or bankruptcy. Businesses need to assess their current situation before choosing the appropriate option.
Service scope temporarily suspended.
Consultation on duration and options for temporary suspension.
MAN assists in determining the start time, suspension period, and handling procedures after the expiration of the period.
According to current regulations, the suspension period for each notification shall not exceed 12 months. The total duration of consecutive business suspensions shall not exceed... 24 months.
Prepare the temporary suspension application.
MAN assists in reviewing and preparing documents based on the type of business and specific circumstances.
Typical documents include:
- Notice of temporary business suspension.
- Resolution or decision of the competent authority.
- Other relevant documents may be required as needed in the specific case.
Complete the procedures with the Business Registration Authority.
Businesses submit notification documents to the provincial business registration authority where the business, branch, representative office, or business location is headquartered.
The documents must be submitted no later than the deadline. 3 working days before the suspension date. In case of continued suspension after the announced period expires, the documents must also be submitted no later than 3 working days before the date of continued suspension.
Review obligations during the suspension period.
Temporarily suspending business operations does not mean that the business terminates all its outstanding obligations.
- Tax obligations.
- Invoices and supporting documents.
- Accounts payable and contracts.
- Obligations to employees.
- Social insurance.
- Assets and other financial obligations.
Continue business ahead of schedule.
If a business wishes to resume operations before the announced deadline, MAN will assist in reviewing the necessary documents and completing the procedures for notifying the authorities of the early resumption of business as required by regulations.
Continue the suspension after the deadline.
If the business is not yet ready to resume operations, the total duration of the consecutive suspension period needs to be checked, and a notice of continued suspension should be issued if the conditions are still met.
For businesses that announce a temporary suspension of operations and fall under the new regulations, the legal representative must also confirm the resumption of business within the specified timeframe. 05 working days from the date the announced suspension period ends.
Consultation process temporarily suspended at MAN
The process is implemented based on the actual situation and scope of support for each business.
5 basic steps
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01 Check status |
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02 Identify time |
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03 Prepare file |
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04 Submit & monitor |
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05 Work return |
1. Check the business status.
Review registration information, suspension history, and any issues that need to be addressed before proceeding with the procedure.
2. Determine the duration of the temporary suspension.
Determine the start date, expected duration, and the business plan after the deadline.
3. Prepare the documents.
Draft notices and resolutions or decisions appropriate to the type of business.
4. Submit and track your application.
Complete the procedures with the provincial business registration authority and monitor the processing of the application.
5. Resumption of operations or continued suspension.
Depending on the plan, businesses may resume operations before the scheduled date or issue a notice to continue the temporary suspension as long as they meet the conditions.
What should businesses keep in mind during a temporary suspension of operations?
A temporary suspension of business operations is a temporary state and does not terminate the existence of the business. The business still needs to monitor its obligations and related changes.
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Taxes and invoices Review tax declaration and payment obligations, invoices, and other tax obligations that have arisen based on the actual situation. |
Contracts and liabilities Review existing contracts, accounts receivable, accounts payable, and payment obligations. |
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workers Review employment contracts, wages, insurance, and related benefits based on the current situation. |
Assets and financial obligations Track assets, loans, payment obligations, and outstanding commitments. |
During the suspension period, if any changes to the business registration information arise that require registration or notification, the business must still follow the corresponding procedures.
Is suspending operations any different from dissolution or bankruptcy?
The three options have different purposes and legal consequences. Businesses need to accurately assess their situation before making a choice.
Criteria |
Pause |
Dissolve |
Bankrupt |
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Purpose |
Operations are temporarily suspended. |
Termination of operations and legal status. |
Handling insolvency through rehabilitation and bankruptcy procedures. |
Business status |
It continues to exist. |
Terminates upon completion of procedures. |
It is being processed under recovery and bankruptcy procedures. |
Operations have resumed. |
Have. |
No, after the dissolution is complete. |
This is possible if restoration is applied and implemented successfully. |
Main process |
Notify the Business Registration Authority. |
Dissolve and settle related obligations. |
Court procedures under the law on rehabilitation and bankruptcy. |
Why should you use MAN's temporary shutdown service?
The suspension procedure is more than just preparing a notice. Businesses need to correctly identify the duration, documentation, suspension history, and related obligations.
MAN supports businesses.
- Review the situation before temporarily suspending operations.
- Determine the appropriate plan and timeframe.
- Prepare the necessary documents according to the type of business.
- Assisting with procedures at the Business Registration Authority.
- Review the obligations that need to be addressed.
- Support is provided when businesses want to resume operations or continue to remain temporarily closed.
Frequently Asked Questions about Temporary Service Suspension
Some common questions about deadlines, documentation, and business issues to consider when temporarily suspending operations.
How long can a business be temporarily suspended?
According to current regulations, the duration of each temporary suspension notice shall not exceed 12 months, and the total consecutive period of business suspension shall not exceed 24 months.
How much notice must a business give before temporarily suspending operations?
The application must be submitted to the provincial business registration authority no later than 3 working days before the date of temporary suspension.
Is it possible to resume operations before the registered deadline?
Yes. Businesses can carry out the procedure for notifying the authorities to resume operations before the previously announced deadline as stipulated.
Can the temporary suspension be extended after the current period expires?
It is possible, if the business still meets the conditions and the total consecutive period of business suspension does not exceed 24 months. The business must notify the authorities of the continued suspension within the prescribed timeframe.
After the temporary suspension period ends, does the business need to complete any further procedures?
For businesses subject to the new regulations, the legal representative must confirm the resumption of business operations within 05 working days from the end of the announced temporary suspension period.
Does temporarily suspending business operations mean the business ceases to exist?
No. Suspension is only a temporary state; the business remains in existence and can resume operations in accordance with regulations.
Does temporarily suspending business operations mean dissolution?
No. Dissolution aims to terminate the business's operations and legal status, while suspension only means temporarily halting operations.
Should businesses facing financial difficulties temporarily suspend operations?
Not every case is suitable. If a business simply needs time to restructure its operations, temporary suspension may be an option. If the business has become insolvent or needs to cease operations, other legal options should be considered.
