Change in operating status after temporary suspension of business

Change in operating status after temporary suspension of business is the legal process a business carries out to re-operate. The prepared documents will be submitted to the Business Registration Office – Department of Planning and Investment. Reopening opens up new business opportunities, allowing businesses to continue growing after a short period of suspension. This article will guide you through this process in detail.

What is a change in operating status after temporary suspension of business?

Change in operating status after temporary suspension of business is the legal process an enterprise undertakes to re-operate after a period of temporary suspension. Enterprises need to notify the Business Registration Office – Department of Planning and Investment about continuing operations before the announced deadline or after the suspension period expires.

This process helps businesses restore normal operating status, update information on the business registration system and open up new business opportunities. Enterprises need to comply with the provisions of Article 206 of the Law on Enterprises 2020 and Clause 1, Article 41 of Decree 01/2021/ND-CP when performing this procedure.

Components of application to change in operating status after temporary suspension of business

Documents for change in operating status after temporary suspension of business include:

• Notice of business resumption ahead of time
• Application for supplementing and updating business registration information
• A valid copy of the meeting minutes of the Board of Members for a limited liability company with two or more members, of the General Meeting of Shareholders for a joint stock company, of the general partners for a partnership company
• Decision and valid copy of meeting minutes of the Board of Directors for joint stock companies in cases where the company charter stipulates
• Power of attorney for the person submitting the application
• Certified copy of the applicant’s personal legal documents.

Notice of business resumption before the announced deadline according to the form specified in Appendix II-19 Circular 01/2021/TT-BKHDT.

The registration process resumes after temporarily suspending business

Competent agency receives documents

The Business Registration Office – Department of Planning and Investment where the enterprise is headquartered is the competent agency to receive applications for change of operating status.

Implementation procedures

Step 1: Prepare documents and submit them in two ways:

• Directly at the Business Registration Office
• Or through the National Information Portal on business registration

Step 2: The Business Registration Office receives the application. Processing time: Within 03 working days from the date of receipt of complete and valid documents. In case the dossier is invalid and needs to be amended or supplemented, the Business Registration Office will request the enterprise to supplement and complete the dossier.

Step 3: Get results:

• The Business Registration Office returns the results to the enterprise: Confirmation that the enterprise has re-registered to operate before the deadline.
• After receiving the results, businesses need to update their operational status on the National Business Registration Portal.

Step 4: Enterprises notify tax authorities and perform related obligations. Specifically:

• Send notice of continued operations to the directly managing tax agency
• Contact the tax authority to restore your tax code (if it has been suspended)
• Update internal information:

Step 5: Inform employees, partners, and customers about the re-opening and update the business’s communication channels

Note: Enterprises need to ensure full compliance with the provisions of the Enterprise Law 2020 and Decree 01/2021/ND-CP during the process of implementing this procedure.

Consulting and support services to change in operating status after temporary suspension of business

Changing operating status after temporarily suspending business requires businesses to comply with strict legal procedures. This process opens up opportunities for reactivation and growth. Our company provides consulting and support services for businesses during the process of changing their operating status including:

• Legal advice on processes and procedures
• Support in preparing and submitting applications
• Business representatives work with competent state agencies
• Update business information on relevant systems
• Consulting on legal and tax issues related to re-operation

Please contact Long Phan via Hotline: 0906735386. We are ready to advise and help customers re-operate quickly and according to regulations, making the most of new business opportunities.