The Investment Registration Certificate is one of the important documents ensuring legal investment activities in Vietnam. In this article, Quan Lieu Services would like to share some information about the procedure for obtaining the Investment Registration Certificate for a project and key points surrounding this type of license.
1. What is the Investment Registration Certificate?
The Investment Registration Certificate (also known as an investment certificate or investment license) is a license issued by the competent authority to foreign investors who meet the requirements for implementing investment projects in Vietnam.
2. What does the Investment Registration Certificate include?
According to Article 3, Clause 11 of the 2020 Investment Law, the investment certificate is not only expressed in written form but also in the electronic form to record the registration information of the investor about the investment project.
As regulated in Article 40 of the 2020 Investment Law, the Investment Registration Certificate includes the following contents:
- Name of the investment project.
- Investment project code.
- Location of the investment project, land use area.
- Objectives, the scale of the investment project.
- Investment capital of the investment project (including the investor’s contributed capital and mobilized capital).
- Duration of the investment project.
- Progress of the investment project.
3. When do you need to go through the procedure of applying for an Investment Registration Certificate?
Based on Article 37, Clause 1 of the Law on Investment 2020, the cases that require applying for a Certificate of Investment Registration are as follows:
- Foreign investors’ investment projects.
- Investment projects with over 50% of charter capital held by foreign investors or with a majority of individual foreign members in the case of an economic organization being a partnership.
- Investment projects with an economic organization being a partnership holding over 50% of the charter capital.
- Investment projects with both foreign investors and an economic organization being a partnership holding over 50% of the charter capital.
Note: An economic organization is an organization established and operating in accordance with the laws of Vietnam.
4. What are the procedures for applying for an Investment Registration Certificate of Investment Registration for investment projects that are not subject to investment approval?
- Step 1: Prepare the dossier
Based on point 2.2, Clause 2, Section I of Official Letter 8909/BKHĐT-PC 2020, the dossier requesting the issuance of a Certificate of Investment Registration for projects not subject to investment approval includes the following documents:
- A proposal for implementing the investment project, including a commitment to bear all costs and risks if the project is not approved.
- Documents proving the legal status of the investor.
- Financial capacity documents of the investor, including at least one of the following: financial statements of the investor for the latest 2 years; commitment to financial support from the parent company; commitment to financial support from a financial institution; financial capacity guarantee of the investor; other documents proving the financial capacity of the investor.
- Investment project proposal including the following main contents: investor or investor selection form, investment objectives, investment scale, investment capital and capital mobilization plan, location, implementation period, progress, information on land use status at the project location and proposed land use demand (if any), labor demand, proposed investment incentives, economic and social impacts of the project, preliminary environmental impact assessment (if any) as required by environmental protection laws.
- In case the construction law requires a feasibility study report, the investor may submit a feasibility study report instead of the investment project proposal.
- In case the investment project does not request the State to allocate land, lease land, or change the purpose of land use, the investor is not required to submit a land use plan.
- The content explains the technology used in the investment project subject to technology transfer according to the regulations of the law on technology transfer;
- BCC Contract for the investment project under BCC contract form;
- Other documents related to the investment project, requirements for the conditions, and capacity of the investor as prescribed by law (if any).
- Step 2: Submitting the dossier
The investor submits 01 sets of application dossier for issuance of an Investment Registration Certificate to the investment registration agency.
For investment projects that have been implemented, the investor submits the dossier according to the regulations in Clause 1, Article 36 of Decree 31/2021/ND-CP, in which the proposal for the investment project is replaced by a report on the implementation status of the investment project from the time of implementation to the time of application for issuance of Investment Registration Certificate.
- Step 3: Receiving the result
The investment registration agency shall issue the Investment Registration Certificate to the investor within 15 days from the date of receiving a valid dossier when the project meets the conditions for issuance of the Investment Registration Certificate.
5. Conditions for obtaining an Investment Registration Certificate
For investment projects that are not subject to investment approval as prescribed in Articles 30, 31, and 32 of the Law on Investment 2020, investors shall be granted an Investment Registration Certificate if they meet the following conditions:
- The investment project does not belong to prohibited sectors or industries for investment;
- There is a location for implementing the investment project;
- The investment project is in compliance with the planning as specified in point a, Clause 3, Article 33 of the Law on Investment 2020;
- The investment project meets the conditions for investment capital per unit of land area, the labor force (if applicable);
- The investment project meets the market access conditions for foreign investors.
6. Competent authority for granting Investment Registration Certificate?
Based on the provisions of Article 39 of the Law on Investment 2020 guided by Article 34 of Decree 31/2021/ND-CP on the authority to grant investment registration certificates as follows:
- The Management Board of industrial parks, export processing zones, high-tech zones, and economic zones shall grant, adjust, and revoke Investment Registration Certificates for investment projects within industrial parks, export processing zones, high-tech zones, and economic zones.
- The Department of Planning and Investment shall grant, adjust, and revoke Investment Registration Certificates for investment projects outside industrial parks, export processing zones, high-tech zones, and economic zones.
- The investment registration agency where the investor implements the investment project, establishes, or plans to establish the operational office to implement the investment project shall grant, adjust, and revoke Investment Registration Certificates for the following investment projects:
- Investment projects implemented in administrative units at the provincial level or higher;
- Investment projects implemented within and outside industrial parks, export processing zones, high-tech zones, and economic zones;
- Investment projects within industrial parks, export processing zones, high-tech zones, and economic zones where the Management Board of industrial parks, export processing zones, high-tech zones, and economic zones has not been established or are not within the scope of management of the Management Board of industrial parks, export processing zones, high-tech zones, and economic zones.
The above are legal issues related to the procedures for obtaining an Investment Registration Certificate for investment projects in 2023. If you need more in-depth consultation on this matter, please contact Quan Lieu Services for quick and efficient consultation with the most cost-effective solution! You can contact us via Hotline: 0966 222 840 or chat with our consultants on our website.
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