Procedure to Terminate an Operating Office in a BCC

The procedure to terminate an operating office in a BCC (Business Cooperation Contract) officially concludes its activities when a project ends or its maintenance is no longer necessary. Proper execution of this procedure protects the investor’s legal rights and interests and prevents potential disputes or complications during liquidation and dissolution. This analysis by Long Phan Consulting Company details this procedure based on the latest regulations.

Competent Authority for Resolution

The authority to resolve the procedure to terminate an operating office in a BCC is stipulated in Decision 701/QD-BKHDT dated June 2, 2021. The specific body depends on the office’s location:

• The Management Board of an industrial zone, export processing zone, high-tech zone, or economic zone has the authority to revoke the Certificate of Registration of Operating Office Operation for offices located within these zones.
• The Department of Finance is the competent authority to revoke the Certificate for all other cases outside of these specific economic zones.

Therefore, the competent authority for the termination procedure is either the Department of Finance or a Management Board, contingent on the office’s location.

Dossier to Terminate an Operating Office in a BCC

To execute the procedure to terminate an operating office in a BCC, the investor must prepare one complete dossier. As required by Decision 701/QD-BKHDT, the dossier includes the following documents:

• The decision to terminate the operating office’s activities, in cases of early termination.
• A list of creditors and the corresponding amount of debt that has been paid.
• A list of employees and a record of the resolved rights and benefits for each.
• Confirmation from the tax authority of the fulfillment of all tax obligations.
• Confirmation from the social insurance agency of the fulfillment of all social insurance obligations.
• The original Certificate of Registration of Operating Office Operation.
• A copy of the Investment Registration Certificate.
• A copy of the BCC.

Procedure Sequence

According to Decision 701/QD-BKHDT, the procedure to terminate an operating office in a BCC follows two primary steps:

• Step 1: The foreign investor submits the notification dossier to the Department of Finance or the Management Board where the operating office is located.
• Step 2: The Department of Finance or the Management Board issues a decision to revoke the Certificate of Registration of Operating Office Operation.

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Resolution Timeline

The timeline for the procedure to terminate an operating office in a BCC is specified in Decision 701/QD-BKHDT.

• Within 07 working days from the date of the termination decision, the foreign investor must send the notification dossier to the competent Department of Finance or Management Board.
• Within 15 days from receiving the complete dossier, the Department of Finance or Management Board will issue the decision to revoke the Certificate of Registration of Operating Office Operation.

Termination Services by Long Phan Consulting Company

Handling the procedure to terminate an operating office in a BCC can present challenges due to language barriers, complex regulations, and extensive work with state agencies. Long Phan Consulting Company’s service is designed to resolve these challenges, offering a complete and professional solution.

• Strategic Advisory and Dossier Preparation
  • Our experts analyze the operating office’s status to define the most suitable termination roadmap and identify the competent authority.
  • We draft the complete application dossier for terminating operations in strict accordance with legal regulations.
  • We prepare all related documents, such as the list of creditors and employee resolutions, ensuring full compliance.
• Agency Representation and Process Management
  • Long Phan Consulting Company acts on the client’s behalf to submit the dossier to the relevant state authority.
  • We diligently monitor the processing timeline and proactively resolve any issues or requests for information from the authorities.
  • Our service includes receiving the final revocation decision and all official documents and delivering them to the client.
• Final Settlement and Compliance Consulting
  • We provide expert consultation on the asset liquidation process required for the office’s closure.
  • Our team guides the preparation of asset liquidation reports and handles associated legal matters.
  • We ensure all final obligations to employees, creditors, and state agencies are properly fulfilled before the final closure.

Frequently Asked Questions

Below are common questions regarding the procedure to terminate an operating office in a BCC.

When should the termination procedure be initiated?

According to Decision 701/QD-BKHDT, the investor must submit the notification dossier within 07 working days from the date the termination decision is made.

Is there a government fee for this procedure?

There is no state fee to terminate an operating office in a BCC.

How can the dossier be submitted?

As per Decision 701/QD-BKHDT, the dossier can be submitted directly at the office of the competent Department of Finance or Management Board, or it can be sent via postal service.

Are there any specific conditions to be met for termination?

The primary condition, stated in Decision 701/QD-BKHDT, is that the foreign investor must have a request to terminate the operating office’s activities. No other mandatory conditions are imposed.

Conclusion

Successfully completing the procedure to terminate an operating office in a BCC requires a deep understanding of Vietnamese law and practical experience. To ensure the process is smooth, compliant, and time-efficient, investors should seek assistance from professional consulting firms. Please contact Long Phan Consulting Company via our Hotline at 1900636389 for timely legal advice and support.