Procedures for adjusting investment certificates

Adjusting investment certificates is a step to help foreign-invested enterprises in Vietnam optimize business operations. This process helps investors update, expand or adjust projects in accordance with new development strategies. Follow the following article by Long Phan for detailed analysis of cases and procedures for adjusting investment certificates.

Cases of adjusting investment certificates

Adjusting investment certificates is required when the investment project changes. Clause 2, Article 41 of the Law on Investment 2020 clearly stipulates adjustments when the content of the Investment Registration Certificate changes. Article 40 of the Law on Investment 2020 lists the contents that need to be adjusted, including:

• Name of investment project.
• Investor.
• Investment project code.
• Location of investment project, land area used.
• Objectives and scale of investment projects.
• Investment capital of the investment project (including investor’s capital contribution and mobilized capital).
• Operational term of the investment project.
• Progress of investment project implementation
• Forms of incentives and investment support and grounds and conditions for application (if any).
• Conditions for investors implementing investment projects (if any).

Where to apply to adjust investment certificates?

Pursuant to Article 39 of the Law on Investment 2020 and Article 34 of Decree 31/2021/ND-CP regulating the authority to receive applications for adjusting investment certificates as follows:

1. For projects in industrial parks, export processing zones, high-tech zones or economic zones: The Zone Management Board has the authority to make adjustments to the investment certificate.
2. For projects located outside industrial parks, export processing zones, high-tech zones, or economic zones: the Department of Planning and Investment of provinces and cities shall adjust the investment certificate.
3. The agency competent to make adjustments to the investment certificate is the investment registration agency located at the place where the investment project is directly implemented, or where the executive office for the investment project is expected to be located. with the following projects:

• Investment projects implemented in at least 02 or more provincial-level administrative units.
• Investment projects are implemented both inside and outside industrial parks, export processing zones, high-tech parks, and economic zones.
• Investment projects located in industrial parks, export processing zones, high-tech zones, or economic zones that do not have a Management Board, or are not within the management scope of the Management Board.

Procedures for adjusting investment certificates

Prepared documents

The project is not subject to investment policy approval

Pursuant to Article 36 of Decree 31/2021/ND-CP, documents for projects not subject to investment policy approval include:

1. Document requesting adjustment of investment project;
2. Report on the implementation of investment projects up to the time of adjustment;
3. The investor’s decision on adjusting the investment project for institutional investors or equivalent documents for individual investors;
4. Investment registration certificate has been issued;
5. Documents on the investor’s legal status.
6. Documents proving financial capacity, including at least one of:

• Financial statements of the most recent 2 years;
• Commitment to financial support from the parent company (if any);
• Commitment to financial support from a financial institution (if any);
• Guarantee of financial capacity;
• Other documents proving financial capacity.

7. Proposed updated investment project, including:

• Investor information;
• Investment goals and scale;
• Investment capital and mobilization plans;
• Location, deadline, implementation progress;
• Demand for land use and labor;
• Proposing investment incentives;
• Assess socio-economic impact and efficiency.

8. Copy of documents on land use rights or documents determining the right to use the project location;
9. Explanation of technology used in the project (if subject to technology appraisal).
10. BCC contract (for investment projects in the form of BCC).
11. Other documents related to investment projects and conditions and capacity of investors according to legal regulations.

The project is subject to investment policy approval

For projects subject to investment policy approval, investors need to carry out procedures to adjust investment policies before adjusting the Investment Certificate, as prescribed in Article 35 of Decree 31/2021/ND -CP.

Execution order

The order for adjusting investment certificates is specifically prescribed as follows:

Case 1: The project is subject to investment policy approval

Pursuant to Article 35 of Decree 31/2021/ND-CP, the implementation order includes:

• Step 1: The investor prepares and submits a request for adjustment of investment policy to the agency that has issued the investment registration certificate.
• Step 2: The competent authority receives the documents and organizes consultation with relevant agencies (if necessary).
• Step 3: Within 05 working days from the date of receiving the Decision approving the investment policy adjustment, the investment registration agency adjusts the Investment Registration Certificate.

Case 2: The project is not subject to investment policy approval

Pursuant to Clause 4, Article 36 and Article 47 of Decree 31/2021/ND-CP stipulates the following steps:

For changes in investment project name and investor name:

• Step 1: The investor submits a written request to adjust the investment project with relevant documents.
• Step 2: Within 03 working days from the date of receiving the written request, the Investment Registration Authority adjusts the Investment Registration Certificate.

For other adjustment cases:

• Step 1: The investor submits 01 set of registration documents to adjust the investment project.
• Step 2: Within 10 days from the date of receiving valid documents, the Investment Registration Authority adjusts the Investment Registration Certificate.

Consulting services for adjusting investment certificates

Consulting services for adjusting investment certificates will help customers in the process of making adjustments and complying with investment laws and related procedures. With experience in the field of foreign investment in Vietnam, Long Phan will support customers to ensure legal regulations on investment and investor benefits. Long Phan’s services include:

• Support in preparing complete and accurate documents as required by competent authorities;
• Representing customers in working with state agencies. ;
• Support for additional documents when necessary;
• Support in resolving any problems that arise during the adjustment process;
• Monitor application processing progress and return results to customers.

Procedures for adjusting investment certificates require a deep understanding of laws and administrative processes. To ensure the process goes smoothly and effectively, customers can consider using professional consulting services. Please contact Long Phan immediately via hotline 0906735386 for the best support in adjusting your business’s investment certificate.