According to the 2020 Investment Law, when implementing an investment project under a BCC contract, the investors do not obligate to establish an economic organization. Thus, foreign investors may set up an executive office in Vietnam for direct operating. Following the issue, LSX will give you details on how the procedures for setting up an executive office for a BCC contract in Vietnam work.
- 2020 Investment Law
Accordingly, the agencies that are responsible for issuing the Certificate of operation registration of executive offices are the Investment registration office where the executive office will take place.
Procedures for setting up an executive office
Step 1: Submit the dossier
Basically, the foreign investors in the BCC contract may submit the dossier for setting up an executive office registration at the Investment registration office. The dossier will contain the following documents:
- The written registration for the establishment of an executive office includes: the name, address of the representative office in Vietnam of the foreign investor; name and address of the executive office; content, duration and scope of operation of the executive office; full name, place of residence; number of people’s identity card, citizen identification card or passport of the head of the executive office.
- Decision of the foreign investor in the BCC contract on the establishment of an operating office
- A copy of the decision to appoint the head of the executive office
- A copy of BCC contract.
Step 2: Issue the Certificate of operation registration of the executive office
Subsequently, within 15 days from the date of receipt of the dossier, the investment registration authority shall issue the Certificate of operation registration of the executive office to the foreign investor.
Lastly, hope the article “Procedures for setting up an executive office for a BCC contract in Vietnam”. In case you have any questions, please contact Lawyer X for quick and best legal services: 0833102102.
Foreign investment means that organizations and individuals of one country bring capital in different forms into another country to conduct business activities for profit. Foreign investment is made in the form of direct investment or indirect investment.
Foreign investor means an individual with foreign nationality or an organization established under foreign law that conducts business investment activities in Vietnam.
Most investors choose BCC due to these reasons:
– This type of contract help them save a lot of time, effort, and money
– The parties can support each other’s shortcomings and weaknesses.