Economic organizations with foreign owned capital established in Vietnam shall have the right to carry out the procedures for the registration of such investment project without necessarily establishing a new economic organization.

For foreign-invested projects capitalized at less than VND 300 billion and not included in the list of conditional investment areas, investors shall carry out the procedures for investment registration at the Planning and Investment Department to be issued investment certificate.

In case of non-establishment of an economic organization, in addition to the contents of the project as above, the foreign investor shall additionally add the business cooperation contract to the investment form under the Business Cooperation Contract and the investor's financial capacity report (prepared and responsible by the investor):

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In case of association with the establishment of an economic organization, apart from the requirements such as registration of non-establishment of economic organizations, the investor must also submit the business registration dossier corresponding to each type of enterprise. Enterprises in accordance with the provisions of law on enterprises and relevant laws and joint venture contracts in the form of investment in establishing joint-venture economic organizations between domestic investors and foreign investors.

Investors submit dossiers to Planning and Investment Departments for projects which are granted investment certificates by provincial-level People's Committees or management boards of industrial parks and export processing zones, high-tech zones and economic zones for projects which are granted investment certificates by the Management Board. The time limit for considering the granting of an investment certificate is 15 days.

Investment projects with capital of VND 300 billion or more are not included in the list of conditional investment areas; Investment projects on the list of sectors where investment is conditional; and investment projects approved by the Prime Minister must carry out verification procedures for issuance of investment certificates.

In cases where the investment registration is not associated with the establishment of an economic organization, the verification dossier comprises the following contents:

- Request for issuance of investment certificate (according to set form);

- A written certification of the legal status of the investor: a copy of the establishment decision or business registration certificate or other equivalent documents of the investor being an organization; a copy of the passport or identity card of the investor being an individual;

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- Report on the financial capacity of the investor (prepared and responsible by the investor);

- Business co-operation contract in the form of investment under a business co-operation contract;

- For investment projects capitalized at VND 300 billion or more and not in the conditional investment areas, investors shall have to submit economic and technical presentations, Investment objectives, investment capital, project implementation progress, land use demand, technological solutions and environmental solutions.

- For an investment project with an investment capital of less than VND 300 billion and in a conditional investment area, the investor must explain his/her ability to satisfy the conditions required by the investment project. Laws applicable to projects in sectors in which investment is conditional.

- For investment projects capitalized at VND 300 billion or more and in the conditional investment areas, investors shall have to submit both the techno-economic explanatory statement and the capacity statement. The conditions for investment projects must satisfy the requirements of law applicable to projects in the domains where investment is conditional.

In case of association with the establishment of an economic organization, in addition to the requirements on the file as in the case of non-establishment of an economic organization, the investor must submit together with the business registration dossier corresponding to each type and economic organizations in accordance with the law on enterprises and relevant laws and joint venture contracts, for the form of establishing joint-venture economic organizations between domestic investors and foreign investors.

The verification time limit shall not exceed 30 days after the receipt of complete and valid dossiers; In case of necessity, the above time limit may be prolonged, but must not exceed 45 days.

The number of project dossiers required for investment projects under the approving competence of the Prime Minister is 10 sets, including at least 01 original set; For projects with provincial-level People's Committees is 8 sets, including at least 01 original set and for projects certificates granted by the Management Board is 4 sets, including at least 01 original set.

Translated from: Dịch vụ tư vấn dự án có vốn đầu tư nước ngoài

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For more information, please contact: MINH KHUE LAW FIRM CO., LTD

Phone to request an establishment of types of company, call: 02439916057

Online legal consultancy office and appointment for a consultation at the office: 1900.6162 (Press 7)

Email: [email protected]

Look forward to cooperation with clients!

Best regards./

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