PROCEDURES FOR SHUTDOWN OF OPERATING OFFICE OF FOREIGN INVESTOR TO BUSINESS COOPERATION CONTRACT

After signing business cooperation contracts, foreign investors establish operating offices. However, when the contract comes to an end, the office needs to be shut down so how does Vietnamese law regulate the shutdown of the operating office? The following article shall provide an in-depth and comprehensive understanding of the aforementioned matter.

Legal basis

Law on investment 2014

Scope of consultation

Procedures for the shutdown of operating office of foreign investors in BCC contract

Step 1: Investors prepare a dossier notifying the shutdown of the operating office. Composition of dossier:

A decision to shut down the operating office in the case of shutdown of the operating office ahead of schedule;
A list of creditors and amount of debts which have been paid;
A list of employers and their benefits provided;
A tax authority’s certification of fulfillment of tax liability;
A social security authority’s certification of fulfillment of social insurance obligations;
The certificate of operating office registration;
A copy of the investment registration certificate;
A copy of the business cooperation contract.

Step 2: Investors submit dossiers

Within 07 working days from the day on which the decision to shut down the operating

office is issued, the foreign investor shall send a folder to the investment registration authority of the area where the operating office is located.

Step 3: Receive and examine dossiers

The investment registration authority receive and examine the dossiers,officers guide investors to complete dossier if it is insufficient

Step 4: Competent agencies issue decision

Within 15 days from the receipt of the application prescribed in Clause 2 of this

Article, the investment registration authority shall issue the decision to shut down the

operating office.

The aforementioned are the consultations about the procedure for shutdown of the operating office of foreign investors in BCC contracts. HTC Law Firm is pleased to accompany clients with all legal problems. For the best consultancy service, please get in touch with us.

For more details, please contact:

HTC Vietnam Law Firm

Address: 15th Floor, Multipurpose Building, 169 Nguyen Ngoc Vu, Trung Hoa Ward, Cau Giay District, Hanoi.

Tel: 0989.386.729; Email: [email protected]

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