One of best law firm in Hanoi in investment advice, Dragon Law would like to offer some procedures for changes in the charter capital of foreign investment companies in Vietnam.
The charter capital of a foreign-invested company is the capital contributed by the company according to the regulations and the time-limit stated in the investment registration certificate through the capital account of the company.
The charter capital of a foreign-invested company may be equal to or less than the capital invested by the company in the investment certificate. When changing the charter capital of the company, it is necessary to change the investment capital in parallel if the registered capital is less than the newly increased charter capital.
- Under Vietnamese law, a foreign company must have a capital account to receive capital from foreign investors and then transfer profits or capital return abroad through this capital account.
- When foreign investors contribute their charter capital, they must contribute to the company's capital transfer account within the prescribed time limit and then transfer contribution capital from the capital account to the trading account of the company to operate.
- It can be said that many foreign investment companies in Vietnam do not understand the regulations on capital accounts. Therefore, it is difficult to contribute capital in accordance with the law, it is difficult to carry out procedures for changing and adjusting investment certificates, especially problems when transferring the capital, the profits abroad.
1. Notarized copies of the investment registration certificate (IRC) / enterprise registration certificate (ERC);
2. Copies of the tax registration certificate (in case the foreign company has not yet separated the IRC and ERC);
3. Reports on the implementation of projects to the time of request for adjustment of investment projects;
4. Notarized audited financial statements near to the adjusted date;
5. Confirmation of the bank for the capital account proving that the company has fully contributed capital (if the financial statements do not show that the company has fully contributed capital);
6. Confirmation of the account balance, the financial statement or the guarantee commitment of the parent company (for institutional investors), the savings book, the confirmation of the account balance (for individual investor) corresponding to the expected charter capital increase;
7. Proposed construction information of project: number of foreign workers, number of Vietnamese workers; phone number and email of investor, phone number of the company in Vietnam, head office area ...
8. Notary's passport and temporary residence certificate (temporary residence card) of the legal representative.
Step 1: Change of ERC (separate ERC and IRC) to increase charter capital of company
Step 2: Post the enterprise registration information on the National Business Registration Portal
Step 3: Renew the new legal seal according to new information
Step 4: Post the new company seal
Step 5: Registration for amendment of IRC (if there is a change of investment capital according to charter capital)
Completion time: 10-15 working days with full documents.
Dragon Law Firm - Hotline: 1900.599.979
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