Business lines are one of the mandatory contents when a foreign-invested company applies for an investment license and establishes an enterprise. Therefore, in the course of operation; if there is a change in the industry, the company needs to carry out procedures to adjust and notify. LSX Lawfirm will give you an article about: “Change industries of foreign-invested companies in Vietnam”, as follows:
Legal grounds
Law on enterprise 2020
Law on investment 2020
Decree No. 01/2021/ND-CP
Circular No. 01/2021/TT-BKHDT
Change industries of foreign-invested companies in Vietnam
Procedures for adjusting business lines on investment licenses
Step 1: Prepare documents to adjust business lines on investment license
A dossier of adjustment of business lines on an investment license includes the following documents:
(1) A written request for adjustment of the investment project;
(2) Then, Report on the implementation of the investment project up to the time of adjustment;
(3) Investor’s decision on adjustment of investment project for institutional investors;
(4) In addition, in the application, the investor explains; or provides documents related to the adjustment of the investment industry/trade (target) as follows:
– Explanation of financial capacity when adding investment industry / profession; (is the capital used to implement the current goal enough to invest in the addition of a new industry?)
– Then, The financial statement of the economic organization implementing the project in the latest year; or the confirmation of the investor’s bank that the capital fully contributed.
(5) Contents of explanation about technology used in investment projects; for projects subject to appraisal and collection of opinions on technology in accordance with the law on technology transfer;
(6) BCC contract for investment projects in the form of BCC contract;
(7) Then, other documents related to the investment project; requirements on conditions and capacity of the investor as prescribed by law (if any).
Step 2: Submit the application to the competent authority to change the profession
(1) Adjustment of investment lines on the investment license subject to no approval of investment policy
– So, the investor submits 01 application to the Department of Planning and Investment of the province/city or the Management Board of Industrial Parks; Export Processing Zones, Hi-Tech Parks, Economic Zones (hereinafter referred to as Industrial Parks) where the enterprise is located. headquarters
– Then, within 10 working days, the Department of Planning and Investment/Industrial Park Management Board shall issue the Investment Registration Certificate or the Notice of amendment/supplementation of the investment.
You can refer to current cases of business transformation in Vietnam, or procedures for changing the head of a representative office of a foreign trader, dossier to change the name of a company with foreign capital.
(2) Adjustment of investment lines on the investment license subject to approval of the policy of the Provincial People’s Committee
– Investors submit 04 sets of documents to the Department of Planning and Investment of the province/city; where the enterprise is headquartered within:
– So, 03 working days from the date of receipt of valid dossiers; the investment registration agency shall send the dossiers to the provincial-level Departments and People’s Committees of the localities; where the enterprise plans to implement the project for comments on the project implementation contents of adjustment of investment projects;
– 15 days from the date of receipt of valid dossiers; the agencies entitled to give opinions on the content of project adjustment within the scope of state management of such agencies;
– Then, 25 days from the day on which the valid application is received; the investment registration authority shall make an appraisal report on the adjusted contents of the investment project to submit it to the People’s Committee of the province;
– So, 07 working days from the date of receiving the application and appraisal report from the Investment Registration Authority; the People’s Committee of the province shall decide to approve the adjustment of investment policies.
– Then, 05 working days, the investment registration authority shall issue the investment registration certificate.
(3) Adjustment of investment lines on the investment license subject to the approval of the policy of the Management Board of Industrial Parks
– The investor submits 04 sets of documents to the Management Board of Industrial Parks where the enterprise headquartered;
– Within:
+ So, 03 working days from the date of receipt of valid dossiers; then the Management Boards of industrial parks; then export processing zones; high-tech zones and economic zones shall send the dossiers to departments; and district-level People’s Committees. the place; where the enterprise implements the project to get opinions on the adjustment contents of the investment project;
+ Then, 15 days from the date of receipt of valid dossiers; the agencies entitled to give opinions on the content of project adjustment within the scope of state management of such agencies;
+ So, 25 days from the day on which the valid application is received; then the Management Board of industrial parks, export processing zones; high-tech zones and economic zones shall decide to approve the adjustment of investment policies. The decision approving the adjustment of investment policy sent to the investor and the agency related to the implementation of the investment project.
+ Finally, 05 working days, the investment registration authority shall issue the investment registration certificate.
(4) Adjustment of investment lines on the investment license subject to the approval of the Prime Minister’s policy
– Investor submits 04 sets of documents to the Ministry of Planning and Investment
– Within:
+ So, 03 working days from the date of receipt of valid dossiers; the Ministry of Planning and Investment shall send the dossiers to the ministries and provincial-level People’s Committees of the localities; where the enterprise plans to implement the project contents for approval opinions on the contents of adjustment of investment projects;
+ In addition, 15 days from the date of receipt of valid dossiers; the agencies entitled to give opinions on the content of project adjustment within the scope of state management of such agencies;
+ So, 35 days from the date of receipt of a valid dossier; the Ministry of Planning and Investment shall make an appraisal report on the adjusted contents of the investment project to submit to the Prime Minister;
+ Then, 5 working days after receiving the appraisal report from the Ministry of Planning and Investment; the Prime Minister shall decide to approve the adjustment of investment policies. The decision approving the adjustment of investment policies shall be sent to the Ministry of Planning and Investment; the investment registration agency and investors, the ministries and agencies involved in the implementation of the investment project, the relevant agencies and the relevant agencies. Investor approval (if any).
+ Finally, 05 working days, the investment registration authority shall issue the investment registration certificate.
Related questions
– Notice of change of business registration content (industry is coded according to industry code level 4 of Vietnam Economic Industry System);
Minutes on the change of business lines (of the Board of Directors of a joint-stock company, of the Board of members of a limited liability company with two or more members…);
– Decide on the change of business lines of the company;
– An application for publication of business registration information on the National Enterprise Portal;
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