MUST-KNOWS ON REVOCATION OF A CERTIFICATE FOR INVESTMENT REGISTRATION

MUST-KNOWS ON REVOCATION OF A CERTIFICATE FOR INVESTMENT REGISTRATION

Investment registration certificate is one of the important documents granted by competent agencies to establish a foreign company in Vietnam. Under particular circumstances, competent agencies must revoke investment registration certificate according to regulations. What should enterprises know to protect their rights? In this article, HTC law firm will provide enterprises with knowledge on this matters

1. In which cases are enterprises revoked investment registration certificate

Investment registration authorities have the authority to revokes investment registration certificates under circumstances that investors terminate the investment projects or competent agencies make a decision to terminate and revoke investment registration certificates in accordance with Clause 2, Articles 48, Law on investment 2020

2. Power to revoke investment registration certificates

Competent agencies having the authority to revoke investment registration certificates include:

- With investment projects located in industrial parks, export-processing zones, hi-tech zones and economic zone, except from cases regulated in Clause 3 Articles 48: Management boards of industrial parks, export-processing zones, hi-tech zones and economic zone

- With investment projects outside industrial parks, export-processing zones, hi-tech zones and economic zones, except for the case in Clause 3 of Articles 48: Departments of Planning and Investment

- With Investment projects that are executed in at least 02 provinces; Investment projects that are executed both inside and outside industrial parks, export processing zones, hi-tech zones and economic zones: The investment registration authority of the administrative division where the investor executes the investment project, places or intends to place the head office or operating office to execute the investment project

3. Procedures for revocation investment registration certificates

- If the investor decides to terminate the investment project himself/herself/itself: such investor shall send the termination decision to the investment registration authority within 15 days from the date of making the decision together with the investment registration certificate (if any)

- If the investment project is terminated according to the conditions set out in the contract or enterprise charter or upon the expiration of the project’s duration the investor shall notify and return the investment registration certificate (if any) to the investment registration authority within 15 days from the date of termination together with a copy of the document recording the termination. The investment registration authority shall notify the project termination to relevant authorities;

- If the investment registration authority shall decide to terminate the project and revoke the investment registration certificate, the investment registration certificate shall be invalidated from the effective date of the decision on project termination.

Legal services provided by law firm HTC VN related to consultation on procedures for revocation of investment registration certificates

- Consultation on legal issues related to procedures for revocation of investment registration certificates

- Provide guidance to compile and complete relevant documents to carry out the procedures for revocation of the investment registration certificates

- Represent clients to carry out procedures for revocation of investment registration certificates;

- Consultation on legal issues arising after revoking the investment registration certificate.

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- 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.

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