When a foreign company wishes to close a branch and set up joint-stock incorporation (K.K.),
you have to firstly set-up K.K. and then transfer business operations from a branch to K.K.
And when all transfers are completed, you can make a start to close a branch.
Of course if a branch is firstly closed, you have to stop operations during establishment procedures period.
On the issue of the party of the agreement, the existing branch and newly company is not related legally.
So it is required to make agreements again with third parties, for instance, agreements with the clients,
business partners or lease agreement of office with property owner.
These transfers are expected to take some time. When closing branch,
we lawyer should apply for official gazzete with agency.
The application of that one-month official gazzete should be made about 10 days before the post date.
The main purpose of official gazzete is to protect the creditor of the branch.
If the creditors have the rightful claims to the branch,
they have to be given the opportunities to liquidate debts with the branch.
Lawyer will prepare Affidavit for the representative of headquarter or
Japanese branch to sign before notary in its mother country or embassy in Japan.
Lawyer will prepare all documents for closing register with Legal Affairs Bureau.
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