Many foreign investors into Vietnam no longer want to stay with the original investment project. So, LSX Lawfirm will introduce an article related this issue: “Transfer of investment projects in Vietnam”, as follows:
Legal grounds
Law on investment 2020
What does investment project means?
Accordingly, from a management perspective, an investment project is a tool to manage the use of capital, materials and labor to create financial, economic and social results in a long time. A project is a series of linked activities designed to achieve certain results within a defined budget and time.
Related article: What is an investment certificate?
Adjustment to the investment project in Vietnam
Rules for execution of investment projects in Vietnam
Transfer of investment projects in Vietnam
Firstly
An investor entitled to transfer part or whole of the investment project to another investor when the following conditions:
- The investment project or the part of the investment project the law do not terminate transfer
- The foreign investor receiving the investment project or part of the investment project.
- The conditions:
+ Firstly, set forth the law on land complied with if the transfer of an investment project associated with transfer of the land use rights/assets on land.
+ Then, on residential housing and on real estate business complied with in the case of transfer of a residential housing construction project or real estate project complied with.
+ In addition, in the written approval for investment guidelines or the investment registration certificate or in accordance with other relevant regulations of law (if any) complied with.
- Upon transfer of an investment project, in addition to compliance with this Article, the state-owned enterprise shall comply with the Law on Management and Use of State Capital Invested in Manufacturing and Business Activities of Enterprises before making any adjustment to the investment project.
Secondly
If the conditions for transfer set forth in Section 1 above satisfied, the investor shall follow the procedures for transferring the entire investment project in part or in full as follows:
In the case of an investment project in which the law approved the investor and the investment project issued with an investment registration certificate, the investor shall follow procedures for adjusting the investment project as prescribed in the law.
For an investment project other than that prescribed above, the transfer of the investment project or transfer of asset ownership to the investor receiving that the civil law shall carry out the investment project, the law on enterprises, the law on real estate business and other regulations of law.
Related questions
Then, management boards of industrial parks, export-processing zones, hi-tech zones and economic zone shall issue; adjust and revoke investment registration certificates with regard to the investment projects located therein
a) The investor decides to terminate the project;
b) The project has to be terminated according to the conditions set out in the contract or charter of the enterprise;
c) The project duration is over.
Currently, investor nationality no longer restricted from receiving investment; except for a few nationalities who are not receive investment because it affects national defense; security; politics and social order, etc.
Contact LSX Lawfirm
Hope this article: “Transfer of investment projects in Vietnam” is useful for you.
Then, if you have any questions; please contact Lawyer X for quick and best legal services: 0833102102
Conclusion: So the above is Transfer of investment projects in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
