What are the documents, order and procedures for changing the investment capital of foreign-invested companies? In this article, LSX Law firm will send you the legal provisions related to this issue. Regarding the adjustment of investment capital, it can affect the project implementation progress, project implementation assurance, etc. Therefore, the law has quite strict regulations when investors decide to change in registered investment capital. The investor must carry out the procedures for adjusting the investment capital in the Investment Registration Certificate accordingly the Law on Investment 2020 as follows.
A dossier includes the following documents:
– A written request for modification of the Investment Registration Certificate;
– A valid copy of the Investment Registration Certificate ;
– Report on the implementation of the investment project up to the time of application for adjustment of the investment project;
– Decide on the adjustment of the investor’s investment project;
– A copy of one of the following documents: financial statements of the last 2 years of the investor; commitment to financial support of the parent company; financial institution’s commitment to financial support; guarantee on the financial capacity of the investor; documents explaining the financial capacity of the investor.
Afterward preparing a complete dossier including all the above documents, the enterprise shall submit it at the Investment Registration Office – Department of Planning; and Investment where the Certificate is issued to the enterprise.
Within 10 working days; from the day on which the complete application is received; the investment registration authority shall amend the Investment Registration Certificate;
In case of refusal to amend the Investment Registration Certificate; a written notice must be given to the investor; clearly stating the reason.
Note when making changes in investment capital
Firstly, in case the change of investment capital is parallel with the change of charter capital, the investor must carry out additional procedures for adjusting the Certificate of Business Registration .
Secondly, for projects subject to decision on investment policies, when adjusting investment projects related to the increase or decrease of investment capital by more than 10% of total investment capital, the investment registration agency shall carry out the following procedures: continue to decide on investment policies before amending the Investment Registration Certificate.
Foreigners working in foreign-invested projects are entitled to the customs regime; immigration, residence and travel in the Vietnamese territory, the right to information and communication accordingly the provisions of Vietnamese law: remittance abroad salary and other lawful income. At the same time, these people working must respect Vietnamese law; fulfill their obligations as committed to investors; and pay income tax under the law on an income of Vietnam.
Firstly, be assured of capital and assets under their ownership;
Secondly, to transfer profits, principal, and interests of foreign loans, investment capital, money, and other assets under their lawful ownership to their home country; or another country;
Thirdly, to reach an agreement with the business cooperation party; the Vietnamese joint-venture party on choosing the form of arbitration; or court to settle disputes arising in the investment process;
Besides, enjoy the customs regime, entry, residence, and travel in Vietnam; accordingly the provisions of the competent state agencies of Vietnam