Issuance of investment registration certificates for projects not subject to decision on investment policies

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Today, LSX Lawfirm will give you an article about: “Issuance of investment registration certificates for projects not subject to decision on investment policies”, as follows:

Law on investment 2020

Decree No. 31/2021/ND-CP

Offshore investment projects are not subject to decision on investment policies in Vietnam

Pursuant to the provisions of Article 56 of the Investment Law 2020, the following non-project investment projects that are not subject to the decision of an offshore investor include:

  • Firstly, Investment projects with outward investment capital of VND 20,000 billion or more; require the application of special mechanisms and policies decided by the National Assembly.
  • Secondly, Investment projects in the fields of banking; insurance; securities, press, radio, television and telecommunications with outward investment capital of 400 billion VND or more;
  • Thirdly, Investment projects that do not fall into the cases specified at Point a of this Clause with outward investment capital of VND 800 billion or more.

Issuance of investment registration certificates for projects not subject to decision on investment policies

In order granted investment registration certificates for projects not subject to investment policy decisions; investment projects must meet the provisions of the Law on Investment. Accordingly, the conditions granted a certificate include:

Firstly

Outward investment activities consistent with the principles prescribed in the Law on Investment 2020.

Secondly

Investment projects that do not in industries banned from overseas investment as prescribed in Article 53 of the Law on Investment 2020

a. Lines and trades banned from business investment include

  • Trading in: narcotics specified in Appendix I of the Investment Law 2020; chemicals and minerals specified in Appendix II of the Investment Law 2020;
  • Then Trading in specimens of wild plants and animals exploited from the wild as specified in Appendix I to the Convention on International Trade in Endangered Species of Wild Fauna and Flora; specimens of endangered; precious and rare species of forest plants, animals and aquatic animals of Group I; which are exploited from nature as prescribed in Appendix III of the Investment Law 2020;
  • Prostitution business;
  • Then Buying and selling people, tissues, corpses, human body parts, human fetuses;
  • Then Business activities related to human cloning;
  • Trade in firecrackers;
  • Then Business debt collection services.

b. Other lines and trades banned

  • Industries banned from business investment under international treaties;
  • Lines and trades with technologies and products banned from export according to the provisions of law on foreign trade management.
  • Lines and trades banned from investment and business in accordance with the law of the host country

Thirdly

Satisfying the conditions for conditional business lines specified in Article 54 of the Investment Law 2020 and Article 72 of Decree 31/2021/ND-CP include:

  • So, for the banking, insurance and securities industries specified at Points a, b and c, Clause 1, Article 54 of the Law on Investment; investors must satisfy the conditions prescribed by law in the field of investment banking; insurance, and securities sectors and approved in writing by the competent authority.
  • Then, for the journalism; so radio and television industry specified at Point d; Clause 1, Article 54 of the Law on Investment, the investor is an organization that has been licensed to operate press, radio and television in Vietnam. Nam and approved in writing by the Ministry of Information and Communications.
  • Then, for real estate business lines specified at Point dd; Clause 1, Article 54 of the Law on Investment, the investor is an enterprise established under the Enterprise Law.

Finally

Accordingly, the investor commits to arrange foreign currency by himself; then or commits to arrange foreign currency to carry out investment activities abroad at the door of an authorized credit institution.

Have a decision to invest abroad according to the provisions of Article 59 of the Law on Investment.

There is a document from the tax authority confirming the investor’s fulfillment of tax payment obligations. The time of certification by the tax authority is not more than 03 months from the date of submission of investment project dossiers.

You can also refer to the article related to Investment Registration Certificate Renewal Service in Vietnam, What is an investment certificate?, The power to issue investment registration certificates; Contents of investment registration certificate; Service of applying for an investment registration certificate in Vietnam.

Related questions about Issuance of investment registration certificates for projects not subject to decision on investment policies

How many days from the receipt of the investor’s investment registration certificate with respect to the investment project?

So, 15 days from the receipt of the investor’s investment registration certificate with respect to the investment project

Who has the authority to approve the investment policy?

So, The National Assembly, The Prime Minister and provincial People’s Committees who has the authority to approve the investment policy.

How many days from the receipt of the written approval for investment guidelines; and the written approval for investor with respect to the investment project that is subject to issuance of an investment registration certificate?

05 working days from the receipt of the written approval for investment guidelines; and the written approval for investor with respect to the investment project that is subject to issuance of an investment registration certificate.

Contact LSX Lawfirm

Finally, hope this article is useful for you to answer the question about: “Issuance of investment registration certificates for projects not subject to decision on investment policies”, please contact  LSX Law firm : +84846175333 or Email: hoangson@lsx.vn

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