Investors want to enter Vietnam to contribute capital, establish a company, etc. What procedures do they have to follow? So today, LSX Lawfirm will give you an answer according to the article: “Procedures for issuance of the investment registration certificate” as follows:
Legal grounds
Law on investment 2020
What does “Investment registration certificate” means?
Accordingly, “Investment registration certificate” means a physical or electronic document bearing information registered by an investor about an investment project.
Related article: What is an investment certificate?
The power to issue investment registration certificates in Vietnam
Contents of investment registration certificate
Procedures for issuance of the investment registration certificate
If the investment project is subject to approval for its investment shall issue the investment registration certificate to the investor within:
a) 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;
b) 15 days from the receipt of the investor’s investment registration certificate with respect to the investment project other than that specified in Point a.
In which:
Firstly
1. The investment project that exert great effects or potentially serious effects on the environment, including:
a) Nuclear power plants.
b) Projects that require repurposing of land of special-use forests, headwater protection forests or border protection forest of at least 50 hectares; of sand-fixing and windbreak coastal forests or protection forests for wave prevention of at least 500 hectares; of production forests of at least 1,000 hectares.
2. Investment projects that require repurposing of land meant for wet rice cultivation during with 02 or more crops of at least 500 hectares.
3. Then, Investment projects that require relocation of 20,000 people or more in mountainous areas or 50,000 people or more in other areas.
4. Investment projects that require application of a special mechanism or policy that needs to be decided by the National Assembly.
Secondly
1. Investment projects regardless of capital sources related to procedures for issuance of the investment registration certificate in any one of the following cases:
a) Investment projects that require relocation of 10,000 people or more in mountainous areas or 20,000 people or more in other areas or construction of: airports and aerodromes; runways of airports and aerodromes; international passenger terminals; cargo terminals of airports and aerodromes with a capacity of at least 1 million tonnes per year.
c) New investment projects on passenger air transport business.
d) Investment projects on construction of ports and wharves of special seaports; ports and wharves in which investment is at least VND 2,300 billion within the category of Class I seaports.
dd) Investment projects on petroleum processing.
e) Investment projects which involve betting and casino services, excluding business in prize-winning electronic games for foreigners.
g) Investment projects on construction of residential housing and urban areas related to procedures for issuance of the investment registration certificate.
h) Investment projects on construction and operation of infrastructure in industrial zones and export processing zones.
2. Foreign investors’ investment projects in the following fields: provision of telecommunications services with network infrastructure; afforestation; publication, press.
3. Investment projects which at the same time fall within the power of at least two provincial People’s Committees to grant approval for investment guidelines.
Thirdly
1. Then, Investment projects that request the State to allocate or lease out land without auction or bidding for or receipt of land use rights, and investment projects that request permission to repurpose land, except for cases of allocation; lease or permission for repurposing of land of households or individuals not subject to the written approval by the provincial People’s Committee in accordance with regulations of law on land.
2. Projects on construction of residential housing (for sale; lease or lease purchase) and urban areas that use at least 50 hectares of land; or less than 50 hectares of land but with a population of at least 15,000 people in an urban area; or that use at least 100 hectares of land or less than 100 hectares of land; but with a population of at least 10,000 people in a non-urban area; or investment projects regardless of the area of land used or population within a restricted development area; or within an historic inner area (determined in accordance with urban area planning projects) of a special urban area.
Finally
3. Projects on investment in golf course construction and business.
4. Investment projects of foreign investors and foreign-invested business organizations executed on islands or in border or coastal communes; in other areas affecting national defense and security.
If the investment project is not subject to approval for its investment guidelines as prescribed as above; the investor shall be issued with the investment registration certificate if the following conditions are met:
- The investment project does not involve any banned business line.
- There is a location for execution of the investment project.
- The investment project is conformable with the planning specified in Point a Clause 3 Article 33 of Investment Law.
- The investment per m2 (or investment per employee) is not smaller than the minimum requirement.
- Market access conditions applied to foreign investors are satisfied.
Related questions about: “Procedures for issuance of the investment registration certificate”
1.Who has the authority to approve the investment policy?
The National Assembly, The Prime Minister and provincial People’s Committees who has the authority to approve the investment policy.
2. 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.
3. How many days from the receipt of the investor’s investment registration certificate with respect to the investment project?
15 days from the receipt of the investor’s investment registration certificate with respect to the investment project
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