Regulations on Termination of Operation of Representative Offices of Foreign Investors in BCC Contracts

Termination of the Operation Office of Foreign Investors in a BCC Contract - Illustrative Image.

Article 50 of the Investment Law 2020 stipulates the termination of the operation office of foreign investors in a BCC contract specifically as follows: Within 07 working days from the date of decision on the termination of the operation office, the foreign investor shall send a notification dossier to the investment registration authority where the operation office is located.

The notification dossier of termination of the operation office includes:

- Decision to terminate the operation of the operation office in case the operation office terminates its operation before the stipulated period;

- List of creditors and settled debts;

- List of employees, and the rights and benefits of the employees that have been resolved;

- Confirmation from the tax authority on the completion of tax obligations;

- Confirmation from the social insurance authority on the completion of social insurance obligations;

- Certificate of registration of operation office activities;

- A copy of the Investment Registration Certificate;

- A copy of the BCC contract.

Note: Within 15 days from the date of receipt of the notification dossier on the termination of the operation office, the investment registration authority shall decide to revoke the Certificate of Registration of Operation Office Activities.

For more details, see the Investment Law 2020, effective January 01, 2021.

Le Vy

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