Article 49. Establishment of foreign investor’s operating office under business cooperation contract

1. Foreign investors under a business cooperation contract may establish an operating office in Vietnam to execute the contract. The location of the operating office shall be decided by the foreign investors.

2. The operating office of a foreign investor in a business cooperation contract has its own seal; the foreign investor may open an account, hire employees, sign contracts, and do business under the business cooperation contract and Certificate of registration of operating office.

3. The foreign investor shall submit the application for registration of operating office to the registry office where the operating office is intended to be located.

4. An application consists of:

a) An application form which specifies the name and address of the representative office in Vietnam (if any) of the foreign investor; name, address of the operating office; contents, duration, and operating scope of the operating office; full name, residence, ID number or passport number of the head of the operating office;

b) The foreign investor’s decision to establish an operating office;

c) A copy of the decision to appoint the head of the operating office;

d) A copy of the business cooperation contract.

5. Within 15 working days from the receipt of the application prescribed in Clause 4 of this Article, the registry office shall issue the Certificate of registration of operating office to the foreign investor.

Article 50. Shutdown of foreign investor’s operating office under business cooperation contracts

1. 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 registry office where the operating office is located.

2. The folder consists of:

a) A decision to shut down the operating office ahead of schedule;

b) A list of creditors and settled debts;

c) A list or employers and employers’ benefits provided;

d) A tax authority’s certification of fulfillment of tax liability;

dd) A social insurance authority’s certification of fulfillment of social insurance obligations;

e) A police authority’s certification of seal destruction;

g) The certificate of operating office registration;

h) A copy of the Certificate of investment registration;

i) A copy of the business cooperation contract.

3. Within 15 working days from the day on which sufficient documents, the registry office shall issue the decision to shut down the operating office.