Procedures for transferring investment projects under the Law on Investment 2020
If investors wish to “buy back” investment projects of other people, they must carry out procedures for transferring investment projects. In this regard, Lawyer X received the following question:
Hello Lawyer X. My name is Tran Thi L. I am currently implementing a construction project in Hai Phong. Due to the Covid-19 situation, making the progress of my project a bit difficult, I need to transfer my project to someone else to manage. So can I transfer my project or not? If yes, what is the procedure? Thank you, lawyers.
So how does the law regulate this procedure? Please also Lawyer X find out right here.
Conditions for transferring investment projects
An investor has the right to transfer all or part of an investment project to another investor when the following conditions that satisfied:
– The investment project or the part of the transferred investment project must not terminate.
– Foreign investors receive investment projects, and part of investment projects must satisfy all conditions applicable to foreign investors.
– Conditions prescribed by the law on land in case of the transfer of an investment project that associates with the transfer of land use rights and land-attached assets.
– Besides, conditions as prescribed by the law on housing and the law on real estate business in case of transfer of housing construction investment projects, real estate projects.
– Conditions specified in the written approval of the investment policy, the Certificate of investment registration, or by other relevant laws (if any).
Dossier of carrying out the procedure
A dossier of requests for adjustment of an investment project includes:
– Firstly, written request for adjustment of the investment project
– Secondly, report on the implementation of the investment project up to the time of the transfer of the investment project
– Contract or principle contract on the transfer of part or the whole investment project
– Then, a copy of the document on the legal status of the transferor and transferee investor
– Copy of Investment Registration Certificate; Decision approving the investment policy; Investor approval decision (if any)
– Copy of BCC Contract (for investment projects in the form of BCC Contract)
– A copy of one of the following documents of the investor transferring the investment project:
Financial statements for the last 2 years; investor’s equity audit report; commitment to the financial support of the parent company; financial institution’s commitment to financial support; guarantee on the financial capacity of the investor; document explaining the financial capacity of the investor.
Procedures for transferring investment projects
For projects that granted an Investment Certificate
For projects in which the investor is approved; If the project is granted an Investment Registration Certificate, you will carry out the procedures for adjusting the investment project. Specifically:
Step 1: Submit your application
You submit your application to the Investment Registration Authority. The investor applies by himself. Or authorize someone else to submit the application and receive the results.
Step 2: Receive and check documents
The investment registration agency receives and examines the application.
If the application is complete and valid, the application will be accepted; issue the Application Receipt Certificate to the Investor.
If the application is incomplete, the investor shall supplement and complete the dossier.
The receiving agency considers the investment project transfer conditions to decide on the adjustment of the investment project. The decision approving the adjustment of the investor shall record the transferring investor and the transferee investor, the part of the transferred project (if any), and shall be sent to the Investment Registration Authority, the transferring investor, and the investor. transferee investors.
Step 3: Get the result
The investor shall based on the appointment date on the application receipt, receive the settlement result at the investment registration agency that has applied.
Result of administrative procedures:
Investment registration certificate for investment projects; The document amending the decision on the investment policy of the Prime Minister, the People’s Committee for the city/district with the investment project not granted the Investment Registration Certificate.
For other projects
For other investment projects, the transfer of the investment project or the transfer of property ownership rights to the investor receiving the investment project after the transfer must comply with the provisions of the civil and enterprise law. , real estate business and other relevant laws.
Related article:
Procedures for adjusting investment certificates according to Vietnam regulations
Transfer of direct investment capital from abroad into Vietnam
Frequently asked questions
Difference. After carrying out all procedures similar to domestic investors, the foreign investor receiving the project transfer shall carry out the procedures for establishing an economic organization by the law on enterprises corresponding to each type of organization. economic organization.
Under the provisions of Clause 1, Article 46 of the Investment Law 2020, investment projects that are temporarily suspended from the operation are not eligible for transfer. So, if all other conditions are met, the project that is temporarily closed can still proceed with the normal transfer
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