General overview

The executive office is established and operates in accordance with the provisions of the Law on Investment 2020. The entity established by the executive office is the foreign investor in the BCC contract with the main task of performing the BCC contract.

This is a type of office of a foreign investor, registered to operate based on the signing of a BCC contract between the parties for the purpose of cooperation and profit sharing, division of products in accordance with the provisions of law without having to establish an economic organization.

The executive office only exists during the contract performance period and is dissolved when the contract expires.

The executive office of the foreign investor has a seal, is allowed to open a bank account, sign a contract, recruit laborers and carry out business activities according to the rights and obligations specified in the BCC contract and the certificate of establishment of the executive office.

Procedures for establishment of an executive office

Step 1: Submit and receive the dossier

The foreign investor in the BCC contract shall submit a dossier of registration for the establishment of an executive office at the Department of Planning and Investment where the executive office is expected to be located.

Form of implementation: Submit directly at the competent agency receiving the dossier or send it by post.

Components of the dossier include:

• The written registration for the establishment of the executive office includes the name and address of the representative office in Vietnam (if any) of the foreign investor in the BCC contract; name and address of the executive office; contents, duration and scope of operation of the executive office; full name, place of residence, identity card, identity card or passport of the head of the executive office;
• Decision of the foreign investor in the BCC contract on the establishment of the executive office;
• A copy of the decision on appointment of the head of the executive office;
• Copy of BCC contract.

Number of dossiers: 01 set.

The Department of Planning and Investment receives the dossier, returns the dossier receipt permit and makes an appointment to return the results to individuals and organizations.

Step 2: Resolve the dossier

The specialized department accepts and considers the validity of the dossier, and submits it to the head of the Department for approval of the result of processing the dossier (Certificate of registration of operation of the executive office/Notice of the dossier not being eligible for settlement)

Implementation time: within 15 days from the date of receipt of the dossier as prescribed.

Step 3: Return Results

After 15 days, the individual or organization shall receive the result of processing the dossier at the Division of receiving and returning the result.

The result received can be the Certificate of Registration of Operation of the Executive Office, or the Notice of the dossier is not eligible for settlement.

Note: The executive office of the foreign investor in the BCC contract has a seal, is allowed to open a bank account, recruit laborers and conduct business activities within the scope of rights and obligations specified in the BCC contract and the Certificate of registration for establishment of the executive office.

When submitting the dossier and receiving the result, the person carrying out the procedures must bring the following papers:

• Receipt of dossier and appointment letter for return of results;
• Identity card or other personal identification paper.
• In case the investor or enterprise authorizes another organization or individual to submit the dossier and receive the result, the person carrying out the procedures must present the ID card or passport or other lawful personal identification papers and one of the following papers:

• The contract for provision of services with the organization providing the service of submitting the dossier and receiving the results and the letter of introduction of such organization to the individual who submits the dossier and receives the result;
• A written authorization for the individual to submit the dossier and receive the results in accordance with the law.

The above is the content of KALF’s advice on the Regulation on the establishment of executive offices of foreign investors in Vietnam. All of our above advice is based on applicable legal regulations. If you have any questions or requests about legal issues, please contact us for timely answers.