Vietnam: What is the application for issuance of outward investment registration certificate?
What is the application for issuance of outward investment registration certificate in Vietnam?
Pursuant to Clause 1, Article 9 of Decree 124/2017/ND-CP stipulates as follows:
Applications for issuance of outward investment certificate
1. An application for issuance of outward investment registration certificate includes:
a) The application for issuance of outward investment registration certificate shall be made as prescribed in Clause 1, Article 55 of the Law on Investment for the project whose outward investment guidelines are decided by the National Assembly and Prime Minister, and Clause 2, Article 59 of the Law on Investment for the project that is exempt from outward investment guidelines;
b) Written confirmation given by the tax authority of investor’s fulfillment of tax liability by the time the investment project dossier is submitted according to Clause 5, Article 58 of the Law on Investment.
2. Other equivalent documents certifying the investor's legal status specified in the Law on Investment include one of the following papers: investment license or investment certificate or investment registration certificate if the investor is the foreign-invested enterprise in Vietnam or business registration certificate or establishment decision.
3. For the outward investment projects of the wholly state-owned enterprise, the outward investment decision specified in Point e, Clause 1, Article 55 of the Law on Investment includes the following documents:
a) The written approval granted by the representative agency of state capital owner to the investor for execution of the outward investment project, including the following information: investor, objectives, scope, forms and place of investment, total investment, capital raising plan, capital structure, project progress and investment efficiency criteria to be achieved;
b) A report on internal assessment of proposals for outward investment as the basis for the approval granted by the representative agency of state capital owner according to Point a of this Clause.
4. The documents specifying place where the investment project is executed include one of the following ones:
a) Petroleum agreement or investment agreement signed with the partner or agreement on receipt of transfer of rights to participate in petroleum agreements or transfer of part or entire company;
b) Investment license or equivalent documents of the host country;
c) Notification of contract award.
5. The investor shall be responsible to law for accuracy and truthfulness of the documents and registration information in accordance with regulations of the Law on Investment and this Decree.
Decree 124/2017/ND-CP was issued in 2017. Therefore, the regulations mentioned related to the Law on Investment in the above content are implemented according to the Law on Investment 2014. However, the Law on Investment 2020 was issued and has replaced the Law on Investment 2014.
Thus, according to the regulations on the application dossier for an offshore investment registration certificate, it includes:
- The application for issuance of outward investment registration certificate shall be made as prescribed inArticle 57 and Article 58 of the Law on Investment 2020 for the project whose outward investment guidelines are decided by the National Assembly and Prime Minister, and Clause 2, Article 61 of the Law on Investment 2020 for the project that is exempt from outward investment guidelines;
- Written confirmation given by the tax authority of investor’s fulfillment of tax liability by the time the investment project dossier is submitted according to Clause 5, Article 60 of the Law on Investment 2020.
What is the application for issuance of outward investment registration certificate in Vietnam?
What are the regulations on outward investment capital in Vietnam?
Pursuant to Article 4 of Decree 124/2017/ND-CP, outward investment capital is represented in the following forms:
- The foreign currency account of the licensed credit institution or purchased in the licensed credit institution in foreign currencies or foreign exchange from other legal capitals in accordance with regulations of law.
- Vietnam dong in accordance with regulations on foreign exchange administration.
- Machinery, equipment, raw materials, fuel, finished and semi-finished products.
- Value of industrial property rights, technical know-how, technology process, technical services, intellectual property rights and brands.
- Other legal assets.
What language is used in outward investment project dossier in Vietnam?
Pursuant to Article 8 of Decree 124/2017/ND-CP regulating the language used in outward investment project dossier as follows:
- The investment project dossier, documents and reports submitted to Vietnam’s regulatory authorities shall be made in Vietnamese.
- In case the investment project dossier is made in foreign languages, the investor shall submit a copy in the foreign language and a Vietnamese translation thereof.
- In case the investment project dossier is made in Vietnamese and foreign languages, a Vietnamese version shall be used to follow administrative procedures for investment.
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