What are conditions for issuance of outward investment registration certificate in Vietnam? What are contents of outward investment registration certificate in Vietnam?
What are conditions for issuance of outward investment registration certificate in Vietnam? What are contents of outward investment registration certificate in Vietnam?
What are conditions for issuance of outward investment registration certificate in Vietnam?
Pursuant to Article 60 of the Law on Investment in 2020 stipulating conditions for issuance of outward investment registration certificate:
Conditions for issuance of outward investment registration certificate
1. Outward investment activities shall adhere to the rules prescribed in Article 51 of this Law.
2. Outward investment activities do not involve any business line banned from outward investment as prescribed in Article 53 of this Law and conditions for outward investment applicable to business lines subject to conditional outward investment as prescribed in Article 54 of this Law are satisfied.
3. The investor makes a commitment to prepare foreign currencies themself or obtains a commitment to prepare foreign currencies from an authorized credit institution for the purposes of conducting outward investment activities.
4. There is an outward investment decision as prescribed in Article 59 of this Law.
5. There is a tax authority’s certification of the fulfillment of tax obligation by the investor. Such certification must be issued by the tax authority within the last 03 months.
As regulated above, outward investment registration certificate shall be issued if following conditions are satisfied:
- Outward investment activities shall adhere to the following rules:
+ The State encourages outward investment in order to exploit, develop and expand the market; improve the export of goods and services, earn foreign currencies; access modern technologies, raise the managerial capability and develop resources for socio-economic development.
+ Investors carrying out outward investment activities shall comply with this Law, other relevant regulations of law, laws of the countries or territories that receive investment and relevant international treaties, and themselves take responsibility for the efficiency in outward investment activities.
- Outward investment activities do not involve any business line banned from outward investment.
- Conditions for outward investment applicable to business lines subject to conditional outward investment are satisfied:
+ Banking;
+ Insurance;
+ Securities;
+ Press, radio and television;
+ Real estate business.
- The investor makes a commitment to prepare foreign currencies themself or obtains a commitment to prepare foreign currencies from an authorized credit institution for the purposes of conducting outward investment activities.
- There is an outward investment decision.
- There is a tax authority’s certification of the fulfillment of tax obligation by the investor. Such certification must be issued by the tax authority within the last 03 months.
What are conditions for issuance of outward investment registration certificate in Vietnam? What are contents of outward investment registration certificate in Vietnam? - image from internet
What are contents of outward investment registration certificate in Vietnam?
Pursuant to Article 62 of the Law on Investment in 2020, outward investment registration certificate in Vietnam includes following contents:
- Investment project code.
- The investor.
- Name of the investment project and name of the foreign business organization (if any).
- Investment objectives and location.
- Investment form, investment capital and sources of such capital, investment capital form, outward investment schedule.
- Rights and obligations of the investor.
- Investment incentives and assistance (if any).
What are cases of invalidation of outward investment registration certificate in Vietnam?
Pursuant to Article 64 of the Law on Investment in 2024, the outward investment registration certificate shall be invalidated in the following cases:
- The investor decides to terminate the investment project;
- The investment project duration is over in accordance with regulations of law of the host country;
- The investment project has to be terminated according to the conditions set out in the contract or charter of the enterprise;
- The investor transfers all outward investment capital to a foreign investor;
- The investor fails to execute or is unable to execute the investment project in line with the schedule registered with the regulatory agency within 24 months from the date of issuance of the outward investment registration certificate and fails to follow the procedures for adjusting the execution schedule of the investment project;
- The foreign business organization is dissolved or goes bankrupt in accordance with the law of the host country;
- Pursuant to a judgment or decision of a court or an arbitral award;
