Investment activity is the process of using investment capital to maintain available potential; or create greater resources for sectors of the national economy. investment process to achieve the purpose of the investment process. LSX Lawfirm will give you the article related to this issue: “Guarantees for transfer of foreign investors’ assets overseas” as follows:
Legal grounds
Law on investment 2020
Some definitions related to foreign investors’ assets overseas
Investment project means a collection of proposals for the expenditure of mid-term; or long-term capital to carry out investment activities in a particular administrative division over a certain period of time.
Outward investment activity means an investor transferring investment capital from Vietnam to a foreign country and using profit obtained from such investment capital to carry out outward investment activities in the foreign country.
Guarantees for transfer of foreign investors’ assets overseas
After all financial obligations to Vietnamese government are fulfilled, foreign investors are permitted to transfer the following assets overseas:
- Investment capital and proceeds from liquidation of its investment.
- Their income obtained from business investment activities.
- Money and other assets under the lawful ownership of the investors.
Accordingly; investment capital is the monetary expression of all costs necessary to create a qualifying work entity for operation and use. It also reflects the volume of new construction; not only rebuilding; restoration but also expansion of the industry’s fixed assets in the physical and non-physical sectors.
It can be also said that investment capital is all necessary expenses that the investor spends to achieve the investment purpose.
Secondly; immediately after the end of the investment project; the investor must liquidate the investment project in accordance with the law of the host country. In addition; within 6 months from the date of completion of the liquidation of the investment project; the investor must also repatriate all the proceeds from the liquidation of the investment project.
If there is a need to extend the time limit; the investor must make a written request; clearly stating the reason, and send it to the Ministry of Planning and Investment for consideration and decision. The extension is done once and does not exceed 06 months.
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