Today, LSX Lawfirm will give you an article about: “Procedures for issuance of an outward investment registration certificate in Vietnam”, 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.
Procedures for granting an offshore investment registration certificate to a project that does not require an investment decision in Vietnam
Dossier to prepare
In Clause 2, Article 61 of the Investment Law 2020; a dossier of application for an offshore investment registration certificate for a project that does not require an investment decision includes:
- Firstly, Documents of registration of outward investment;
- Documents on the investor’s legal status;
- Then, a written commitment to self-balancing foreign currency sources; or a written commitment to arrange foreign currency for investors of an authorized credit institution
- Finally, for offshore investment projects in the industries and trades specified in Clause 1, Article 54 of the Law on Investment; the investor shall submit a written approval from a competent state agency that the investment conditions are satisfied; investment abroad in accordance with relevant laws (if any).
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, or Issuance of investment registration certificates for projects not subject to decision on investment policies.
Procedures for issuance of the Certificate of offshore investment registration for projects that do not require an investment policy decision in Vietnam
Step 1: Firstly, prepare documents
Investor prepares all required documents as mentioned above
Step 2: Secondly, submit your application
After preparing all the documents, the investor submits the application to the Ministry of Planning and Investment. For the case where the capital amount in foreign currency transferred abroad is equivalent to VND 20 billion or more; the Ministry of Planning and Investment shall obtain written opinions from the State Bank of Vietnam.
Step 3: Thirdly, get the result
Within 15 days from the day on which the valid application is received; the Ministry of Planning and Investment shall issue an offshore investment registration certificate; in case of refusal to issue an offshore investment registration certificate; it must notify the investor in writing and clearly state the reasons therefor.
So, The National Assembly, The Prime Minister and provincial People’s Committees who has the authority to approve the investment policy.
So, 15 days from the receipt of the investor’s investment registration certificate with respect to the investment project
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