Shutting up shop

Closing representative offices in Vietnam is complicated and bureaucratic and foreign companies usually get consulting firms to organize it for them. The trade ministry has to approve the closure and confirmation that there are no outstanding debts is essential. Various letters and certificates have to be provided to prove that bank accounts and rental contracts have been closed, and employees have been paid. Only 60 days are allowed to organize this. Consulting firms charge up to US$5,000 for their services and some smaller companies have left Vietnam without following the correct procedures.