05 Conditions for the Issuance of a Certificate of Overseas Investment Registration

Conditions for Granting the Certificate of Overseas Investment Registration - Illustrative Image.

Article 60 of the Investment Law 2020 stipulates 05 conditions for granting the Certificate of Overseas Investment Registration, including:

1. Overseas investment activities must conform to the following specific principles:

- The State encourages overseas investments to exploit, develop, and expand markets; increase export capabilities for goods and services, earn foreign currency; access modern technology, enhance management capabilities, and supplement resources for the socio-economic development of the country.

- Investors conducting overseas investment activities must comply with the regulations of this Law, other related legal regulations, the laws of the country or territory receiving the investment (hereinafter referred to as the investment-receiving country), and relevant international treaties; and are fully responsible for the efficiency of the overseas investment activities.

2. Must not be in the sectors and trades prohibited from overseas investment, including:

- Sectors and trades prohibited from business investment as stipulated by the Investment Law 2020 and relevant international treaties.

- Sectors and trades with technology and products banned from export according to the regulations on foreign trade management.

- Sectors and trades prohibited from business investment according to the laws of the investment-receiving country.

Additionally, the overseas investment must meet the investment conditions for sectors and trades with conditional overseas investment as stipulated by laws, resolutions of the National Assembly, ordinances, resolutions of the Standing Committee of the National Assembly, Government decrees, and international treaties on investment which the Socialist Republic of Vietnam is a member of.

3. The investor must have a commitment to self-arrange foreign currency or a commitment to arrange foreign currency to carry out overseas investment activities through authorized credit institutions.

4. There must be a decision on overseas investment according to the regulations.

5. There must be a document from the tax authority confirming that the investor has fulfilled their tax obligations. The confirmation time by the tax authority must not exceed 03 months from the date of submission of the investment project dossier.

For more details, see Investment Law 2020, effective January 1, 2021.

Le Vy

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