Terminate the operations of the foreign investor’s executive office in the BCC contract

Terminating the operations of the foreign investor’s executive office in the BCC contract helps investors manage risks and reduce costs. Terminating operations also helps investors promptly adjust business strategies, comply with legal regulations and minimize arising tax and legal issues. The following article will analyze in detail the steps and procedures for effectively terminating executive office operations.

Content of operations of the foreign investor’s executive office in the BCC contract

Pursuant to the provisions of Clause 2, Article 49 of the Law on Investment 2020, the executive office of the foreign investor in the BCC contract has a seal and is allowed to carry out the following activities:

• Open an account;
• Recruited workers;
• To sign contracts and conduct business activities within the scope of rights and obligations specified in the BCC contract and the Certificate of registration for establishment of executive office.

To whom should I submit the notice of termination of operations of the foreign investor’s executive office in the BCC contract?

Pursuant to the provisions of Clause 1, Article 50 of the Law on Investment 2020, within 07 working days from the date of the decision to terminate the operation of the executive office, the foreign investor shall send a notification document to the agency. Investment registration office where the executive office is located.

Therefore, the Department of Planning and Investment is the competent agency to receive and process dossiers of termination of executive office operations of foreign investors in BCC contracts.

Procedures for terminating operations of foreign investor’s executive office in a BCC contract

File

To terminate executive office operations, foreign investors need to prepare complete documents as prescribed in Clause 2, Article 50 of the Law on Investment 2020. The documents include the following documents:

• Decision to terminate operations of the executive office (in case of premature termination)
• List of creditors and paid debts
• List of workers, rights and benefits of workers have been resolved
• Confirmation from the tax authority on the completion of tax obligations
• Confirmation from the social insurance agency on the completion of social insurance obligations
• Certificate of registration for operating office operations
• Copy of Investment Registration Certificate
• Copy of BCC contract

Full and accurate preparation of these documents is very important. It not only ensures the legality of the termination process but also helps the processing of documents take place quickly and smoothly.

In particular, confirmations from tax and social insurance authorities are important documents, proving that the executive office has fulfilled its financial obligations to the state. This helps avoid legal problems that may arise after termination of operations.

Execution order

The process of terminating the operation of the foreign investor’s executive office in the BCC contract is carried out in two main steps:

Step 1: Submit notification documents

Foreign investors are responsible for sending the notification of termination of operations to the Department of Planning and Investment where the executive office is located. The deadline for sending notice is 7 working days from the date of the decision to terminate the operation of the executive office.

The application must contain all the documents as prescribed in Clause 2, Article 50 of the Law on Investment 2020. Sending the application on time and completely helps the processing process take place quickly, avoiding unnecessary problems.

Step 2: Receive and process documents

After receiving valid documents, the Department of Planning and Investment is responsible for reviewing and resolving. The time limit for processing documents is 15 working days from the date of receipt of complete and valid documents.

If the application fully meets the requirements, the investment registration agency will issue a decision to revoke the Executive Office Operation Registration Certificate. This decision marks the end of the executive office’s formal operations.

In case the dossier is incomplete or additional information is needed, the investment registration agency will notify the investor to complete the dossier according to regulations.

Consulting and support services for terminating operations of the foreign investor’s executive office in Long Phan

Long Phan provides professional consulting services on terminating operations of the foreign investor’s executive office. We will support customers throughout the entire process, from preparing documents to completing procedures with state agencies.

Long Phan’s services include:

• Consulting on the process and procedures for establishing and terminating operations of foreign investor’s executive office in BCC contracts;
• Support in preparing and completing necessary documents for each procedure;
• Representatives contact state agencies and monitor document processing progress;
• Resolve problems that arise during the termination of operations.

With extensive experience in the field of foreign investment, Long Phan is committed to providing optimal solutions, helping the process of terminating operations take place smoothly and legally.

The process of terminating the operation of a foreign investor’s executive office in a BCC contract requires strict compliance with legal regulations. To ensure the process goes smoothly, legally and to avoid legal risks, customers should immediately contact Long Phan via hotline 0906735386 for detailed advice and comprehensive support in terminating the operations of your executive office.