Thursday, September 12, 2013

Q: How to dissolve incorporated Japan affiliate or subsidiary.

A: To close a Japan corporation permanently, you must follow a closing procedure which may take few months depending on the situation. Basic steps are as follows:

1. Resolution by the board of directors to dissolve a corporation and selection of liquidator
2. Registration of the dissolution and liquidator
3. Notices to public offices of the dissolution and liquidator
4. Peremptory notice to creditor through official gazettes
5. Distribution of residual property
6. Resolution by the board of directors for the liquidation
7. Registration of the liquidation and notices to public offices

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