Accordingly, FDI businesses, which got licensed before July 1, 2006, can decide the time to re-register, transform and reorganize their operation and management in accordance with legal regulations.
If those, which were established before July 1, 2006 and whose operation duration has expired in accordance with their licenses issued after July 1, 2006, have not conducted dissolution procedures and planned to continue their operation, they have to re-register prior to February 1, 2014.
BCC partners can register to change their licenses to get certificates for their operation in accordance with the Law on Investment.
One-owner FDI businesses can register to become single-member limited liability companies while joint-ventures and FDI businesses owned by more than two investors can register to become limited liability companies.
Regarding re-registration procedures, the decree said that businesses can apply their registration at agencies which issued their investment certificates.
Special cases, which need to ask relevant ministries and agencies for approval, can get investment certificates within 45 working daysfrom the date their applications are accepted. The relevant ministries and agencies should reply to the applications in writing within 15 working days from the date they receive the applications.
Other cases will get investment certificates within 15 working days from the date the applications are accepted.
Relevant agencies should inform businesses in writing about their disapproval or requirements for supplements and amendments in the applications.
The original copies of investment certificates, adjusted investment certificates and certificates for the investment certificates’ adjustment must be applied.
If businesses’ transformation and re-registration are conducted at the same time, businesses apply required documents at agencies which issue their investment certificates.
Businesses’ decision on the transformation and re-registration should be informed to creditors and employees within 15 working days from the date the decision is approved.
