03 must-knows regarding procedures for issuance of the investment registration certificate

03 must-knows regarding procedures for issuance of the investment registration certificate

The investment certificate means an Operation license issued by the competent agencies to organizations, individuals that fulfill the conditions and have the purpose of participating in an investment project. Currently, the majority of Investment Certificates are applied to foreign individuals and organizations. However, when it comes to investing in Vietnam, not many international investors have a thorough understanding of the regulations. Therefore, in order to eliminate legislative risks for clients, HTC Vietnam Law Firm would like to provide information related to the procedure for granting an Investment Registration Certificate in 2022.

1. Procedures for issuance of the investment registration certificate

Step 1: The investor determines whether the investment project intended to be implemented must be subject to approval for its investment guidelines;

Step 2: Prepare documents for obtaining an investment registration certificate;

Step 3: Submit the application for the Investment Registration Certificate;

Step 4: Appraise the application file and issue the Investment Registration Certificate;

Step 5: Apply for the Certificate of Enterprise registration;

Step 6: Prepare the enterprise’s seals, publish the seals and information of the enterprise;

2. Note for application of investment registration certificates

Application dossier for the issuance of investment certificate is a dossier prepared by an investor to carry out needed procedures. Accordingly, the composition of the application file will be changed if the subject decides the investment policy, specifically:

For the application for the investment projects not subject to approval for investment guidelines or is subject to the decision of provincial People’s Committees to approve investment guidelines:

- An application form for execution of the investment project;

- A copy of ID card, passport for the investor being an individual; a copy of the Business Registration Certificate, for the investor being juridical persons;

- Proposal for the investment project including the following contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project and proposed demand for land use (if any), demand for labor, proposal for investment incentives, impact and socio–economic efficiency of the project and preliminary assessment of environmental impact (if any) in accordance with regulations of law on environmental protection.

- Document(s) proving the financial capacity of the investor including at least one of the following documents: the investor’s financial statements for the last two years; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;

- Proposal demand for land use; If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted;

- If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted, including: technology name, technology origin, technological process diagram, core specification, use status of main machinery, equipment and technological lines;

- The business cooperation contract if the investment project is executed under a business cooperation contract;

For the application of the Investment Certificate for investment project under The Prime Minister’s power:

- An application form for adjustment of the investment project;

- A report on the operation of the investment project up to the date of adjustment;

- Investor’s decision on the adjustment of the investment project;

- Explain or provide documents related to the adjustment of prescribed contents (if any).

3. Notes on Language in investment registration certificate documents

- Dossier of application for investment registration certificate documents and reports submitted to competent authorities shall be written in Vietnamese.

- Investment registration documents in foreign languages shall be enclosed with their Vietnamese translations by the investors.

- For investment documents that are available in both Vietnamese and foreign language, the Vietnamese documents shall be used for following investment procedures.

- Investors are responsible for discrepancies between the translation, the copies and the original document.

Legal consulting services by HTC Vietnam Law Firm

The HTC Vietnam Law Firm would like to provide the following consultation relating to the Investment Registration Certificate in 2022:

- Consultation on the extension of application schedule for issuance of Investment Registration Certificate;

- Manner of execution of issuing the Investment Registration Certificate;

- Entities eligible for investment registration certificates;

- Consultation on drafting the application for replacement of the investment registration certificate;

- Assistance on other related issues.

Service Quality Commitment

The following are HTC Vietnam Law Firm’s Principles of Operation: Conscientious - Effective - Reliable. HTC Vietnam Law Firm assures service quality, specifically as follows:

- Ensure that the work is carried out according to the agreed schedule, in accordance with the law, and in accordance with the code of ethics and Codes of Conduct of Vietnamese lawyers.

- Give priority to customers' interests, and make every effort to provide customers with the best quality of service.

- Respect the confidentiality of information that clients provided and information pertaining to the clients.

We are looking forward to a long-term cooperation.

Best Regards!

(Writer: Trần Phan Cẩm Nhung/185; 01/4/2022

Translator: Nguyễn Thị Liên)