Procedures for granting foreign investment certificates in Vietnam

In recent years, Vietnam has been an attractive destination for foreign invested enterprises. In case investors want to invest in Vietnam in the form of 100% foreign capital, they need to apply for an Investment Certificate in Vietnam.

 In recent years, Vietnam has been an attractive destination for foreign invested enterprises. In case investors want to invest in Vietnam in the form of 100% foreign capital, they need to apply for an Investment Certificate in Vietnam.

Dragon Law Firm will consult in detail for customers who want to invest in Vietnam. will consult in detail for customers who want to invest in Vietnam.

1. Competence to grant foreign investment certificates in Vietnam

According to the Law on Investment, the authority to issue Investment Certificates to foreign investors in Vietnam is the provincial / municipal People's Committee and the Government.

1.1 For the provincial People's Committee

Provincial-level People's Committees shall decide on investment policies for the following projects:

- Projects that are allocated or leased land by the State without auction, bidding or transfer; projects that require change of land use purpose;

-Projects using technologies on the list of technologies restricted from transfer under the law on technology transfer.

Profile include:

+ Written request for implementation of investment project;

+ For individual investors: Copy of identity card, ID card or passport

+ For institutional investors: copy of the Establishment Certificate or other equivalent documents certifying the legal status;

+ Proposal of investment project including the following contents: investor implementing the project, investment objectives, investment scale, investment capital and capital raising plan, location, duration, schedule of investment. investment, labor demand, proposal of investment incentives, impact assessment, socio-economic efficiency of the project;

+ Copy of one of the following documents: Financial statements of the latest 2 years of the investor; or Financial commitment of the parent company; or Commitment to financial support of financial institutions; or Guarantee of financial capacity of the investor; or Documents explaining the financial capacity of the investor;

+ Proposal of land use demand; In case the project does not request the State to allocate, lease land, or permit the change of land use purposes, submit a copy of the location-leasing agreement or other documents certifying that the investor has the right to use the location for realization. present investment projects;

+ An explanation of the use of technology, including the following contents: technology name, technology origin, technology process diagram; main specifications, use status of main machines, equipment and technological lines for projects using technologies on the list of technologies restricted from transferring

+ BCC contracts for investment projects in the form of BCC contracts.

1.2 The authority of the government

In the case of foreign investors' projects in the fields of shipping business, telecommunications service business with network infrastructure, afforestation, publishing, newspapers, establishment of scientific and public organizations technology, science and technology enterprises with 100% foreign capital. Accordingly, in case of establishing a company with 100% foreign capital related to the above issues, the investment policy must be registered with the Prime Minister in accordance with the Law on Investment 2014.

Profile include:

+ Documents similar to the investment policy registration of the provincial People's Committee Agency (Part 1.1)

+ Plan of ground clearance, migration, resettlement (if any);

+ Preliminary assessment of environmental impacts and environmental protection solutions;

+ Assessing socio-economic impacts and efficiency of investment projects.

2. Procedures for granting foreign investment certificates in Vietnam

Profile including:

+ Written request for implementation of investment project;

+ For individual investors: Copy of identity card, identity card or passport

+ For institutional investors: copy of the Establishment Certificate or other equivalent documents certifying legal status;

+ Proposal of investment project including the following contents: investor implementing the project, investment objectives, investment scale, investment capital and capital raising plan, location, duration, schedule of investment. investment, labor demand, proposal of investment incentives, impact assessment, socio-economic efficiency of the project;

+ Copy of one of the following documents: Financial statements of the latest 2 years of the investor; or Financial commitment of the parent company; or Commitment to financial support of financial institutions; or Guarantee of financial capacity of the investor; or Documents explaining the financial capacity of the investor;

+ Proposal of land use demand; In case the project does not request the State to allocate land, give land or permit the change of land use purposes, a copy of the location-leasing agreement or other documents certifying that the investor is entitled to use the venue for implementation shall be required. investment projects;

+ An explanation of the use of technology, including the following contents: technology name, technology origin, technology process diagram; main specifications, use status of main machines, equipment and technological lines for projects using technologies on the list of technologies restricted from transferring.