INVEST IN THE FORM OF BUSINESS COOPERATION CONTRACT (BCC)
Investment in the form of a business cooperation contract is an investment form whereby investors enter into a contract to carry out investment activities without establishing an economic organization (according to Clause 14, Article 3 of the Law on Investment 2020).
In case of investment in the form of BCC with the participation of a foreign investor as a party to the contract, the investor shall carry out the procedures for issuance of an investment registration certificate, an operation registration certificate, and an investment registration certificate operate the executive office (if any) at the investment registration agency, and fail to carry out the procedures related to the Certificate of Business Registration to establish an economic organization.
The BCC contract includes the following main contents:

1. The parties to the contract; transaction address or location of the investment project;

2. Objectives and scope of business investment activities;

3. Contributions of the parties to the contract and distribution of business investment

4. Progress and duration of contract performance;

5. Rights and obligations of the parties to the contract;

6. Amendment, assignment, termination of the contract;

7. Liability for breach of contract, method of dispute settlement.

The parties to the BCC contract establish a coordination committee to implement the BCC contract. The functions, tasks and powers of the coordination board shall be agreed upon by the parties.
During the performance of the BCC contract, the contracting parties may agree to use the assets formed from the business cooperation to establish a new enterprise.
The foreign investor in the BCC contract may set up an operating office in Vietnam to perform the contract. The operating office of the foreign investor in the BCC contract has a seal; may open accounts, recruit employees, sign contracts and conduct business activities within the scope of rights and obligations specified in the BCC contract. The certificate of registration of the establishment of an executive office issued by the investment registration agency.
For detailed advice and timely support on transfer procedures and documents, please contact:
Gattaca Law Firm
Address: 32 Nguyen Dinh Hoan, Nghia Do, Cau Giay, Ha Noi
Hotline: 0243.204.1777 – 090.17.63.379
Website: gattacalaw.vn