Thursday, September 12, 2013

Q: How to dissolve Japan branch office.

A: To close a Japan branch 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 holding entity to close the branch
2. Peremptory notice to creditor through official gazettes
3. Appointment of tax management personnel
4. Distribution of residual property
5. Close of the branch
6. Drafting of affidavit
7. Registration of the branch closure
8. Notices to public offices

If you are to setup a corporation based on the branch property and assets (in-kind contribution), you still need to follow the preceding procedures.

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