Conditions for issuance of outward investment registration certificate in Vietnam

Conditions for issuance of outward investment registration certificate in Vietnam (Internet image)

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Conditions for issuance of outward investment registration certificate in Vietnam

Conditions for issuance of outward investment registration certificate in Vietnam include:

- Outward investment activities shall adhere to the rules prescribed in Article 51 of the Law on Investment 2020.

- Outward investment activities do not involve any business line banned from outward investment as prescribed in Article 53 of the Law on Investment 2020 and conditions for outward investment applicable to business lines subject to conditional outward investment as prescribed in Article 54 of the Law on Investment 2020 are satisfied.

- 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 as prescribed in Article 59 of the Law on Investment 2020.

- 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.

(Article 60 of the Law on Investment 2020)

Procedures for issuance of outward investment registration certificate in Vietnam

Specifically, Article 61 of the Law on Investment 2020 stipulates the procedures for issuance of outward investment registration certificate as follows:

(1) If the investment project is subject to approval for its outward investment guidelines, the Ministry of Planning and Investment shall issue the outward investment registration certificate to the investor within 05 working days from receipt of the written approval for investment guidelines and the outward investment decision prescribed in Article 59 of the Law on Investment 2020.

(2) Regarding the investment project not mentioned in Clause 1 of Article 61 of the Law on Investment 2020, the investor shall submit an application for issuance of an outward investment registration certificate to the Ministry of Planning and Investment. The application consists of:

- An outward investment registration form;

- A document about the investor’s legal status;

- The outward investment decision prescribed in Article 59 of the Law on Investment 2020;

- A commitment to balance foreign currency sources or a commitment of an authorized credit institution to provide foreign currencies for the investor prescribed in Clause 3 Article 60 of the Law on Investment 2020;

- With regard to an outward investment project in the business lines specified in Clause 1 Article 54 of the Law on Investment 2020, the investor shall submit a certification of the investor’s fulfillment of conditions for outward investment issued by a competent authority in accordance with the relevant regulations of law (if any).

(3) In case the amount of foreign currency capital transferred abroad is VND 20 billion or more, the Ministry of Planning and Investment shall request the State Bank of Vietnam to provide opinions in writing.

(4) Within 15 days from receipt of the application prescribed in Clause 2 of Article 61 of the Law on Investment 2020, the Ministry of Planning and Investment shall issue an outward investment registration certificate; in case of rejection of the application, a written explanation shall be provided to the investor.

Contents of outward investment registration certificate

According to Article 62 of the Law on Investment 2020, an outward investment registration certificate in Vietnam has the 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).

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