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Conditions for issuance of Certificate of investment registration abroad
Certificate of investment registration abroad is an important document allowing investors to carry out investment projects outside the territory of Vietnam. According to the Law on Investment 2020 and Decree 31/2021/ND-CP, the issuance of this certificate must meet strict conditions related to legality, financial capacity, as well as foreign currency commitments. In the article below, Long Phan will provide information related to the conditions for granting the Certificate of Investment Registration abroad.
Conditions for issuance of Certificate of investment registration abroad
Pursuant to Article 60 of the Law on Investment 2020, investors must meet the following basic conditions to be granted a Certificate of investment registration abroad:
- In accordance with investment principles stipulated in Article 51: Overseas investment projects must comply with Vietnam’s foreign and economic policies and not harm national defense, security and national interests.
- Not belonging to industries or occupations prohibited from investing abroad (Article 53): Industries such as gambling, sexual services, weapons manufacturing… are areas where investment abroad is prohibited. Investors need to ensure that their industry does not violate these regulations.
- Meeting conditional investment conditions (Article 54): Some conditional industries such as banking, insurance, or telecommunications require investors to meet additional conditions in terms of capital, capacity or approval from competent state agencies.
- Commitment to self-arrange foreign currency sources: Investors must demonstrate the ability to self-arrange foreign currency sources or have a commitment from an authorized credit institution according to the provisions of law.
- Having a decision to invest abroad (Article 59): Before implementing the project, the investor needs to have an official decision from the management agency, showing approval of the investment project abroad.
It is also important that investors need to have written confirmation from the tax authority about fulfilling tax obligations within the last 3 months before submitting the application for investment registration abroad.
Procedures for issuance of Certificate of overseas investment registration for projects not subject to investment policy approval
Documents need to be prepared
Pursuant to Clause 1, Article 78 of Decree 31/2021/ND-CP, the application for Certificate for projects not subject to investment policy approval includes:
- Document for registration of investment abroad.
- Documents on the investor’s legal status.
- Decide to invest abroad.
- Commit to self-balancing foreign currency sources or commit to arranging foreign currency.
- In case the investor commits to arrange foreign currency, it is necessary to submit confirmation of the foreign currency account balance from the credit institution where the investor opened the account.
- Document certifying from the tax authority that tax obligations have been fully completed in Vietnam within the last 3 months before submitting the application for investment registration abroad.
- Written approval from a competent state agency (if the project belongs to a conditional industry).
- Documents confirming the location of the investment project abroad for the cases specified in Article 73 of this Decree.
- Documents determining the form of investment abroad according to the provisions of Article 74 of this Decree.
Execution order
According to the provisions of Clause 2, Article 78 of Decree 31/2021/ND-CP, the order of implementing procedures for granting a Certificate of investment registration abroad for projects not subject to investment policy approval includes the following steps:
Step 1: Submit application
- Investors declare information and submit electronic documents to the National Investment Information System. After that, the investor submits 03 sets of paper documents (including 01 set of original documents) to the Ministry of Planning and Investment within 15 days of completing the electronic declaration.
- The application must contain all the documents mentioned above, including investment registration documents, legal documents, investment decisions, commitment to foreign currency resources and confirmation of tax obligations.
Step 2: Check the validity of the application
The Ministry of Planning and Investment will check the validity and completeness of the dossier within 05 working days from receipt of the dossier.
- In case the application is not valid or lacks the required documents, the Ministry of Planning and Investment will send a notice requesting the investor to supplement or adjust the necessary information.
- If the application meets the requirements, the application processing will continue.
Step 3: Get opinions from the State Bank of Vietnam (if necessary)
- For projects with foreign currency capital transferred abroad equivalent to 20 billion VND or more, the Ministry of Planning and Investment will consult with the State Bank of Vietnam on issues related to capital sources, transfer money and compliance with foreign exchange laws.
- The State Bank of Vietnam will consider factors such as the situation of capital transferred abroad, the ability to legally transfer money and issues of loans and guarantees for economic organizations abroad.
- Response time is 07 working days from the date of receipt of the written opinion.
Step 4: Issue the Certificate of investment registration abroad
- Within 15 working days from the date of receipt of complete and valid documents, the Ministry of Planning and Investment will issue a Certificate of investment registration abroad to the investor.
- This registration certificate will include the investment project code, information about the project and investor, along conditions related to project implementation abroad.
- The Ministry of Planning and Investment will send copies of the Certificate to the State Bank of Vietnam, the Ministry of Finance, the Ministry of Foreign Affairs, the Ministry of Labor, War Invalids and Social Affairs, relevant industry management agencies and the Human Resources Committee. People of the province where the investor’s headquarters is located to monitor and coordinate management.
Step 5: Refuse to issue Certificate (if any)
- In case the dossier is invalid or the investor does not meet the conditions for issuance of a Certificate of investment registration abroad, the Ministry of Planning and Investment will send a written notice of refusal.
- This document will clearly state the reason for the refusal and the measures that need to be taken to correct it, if any.
Procedures for granting Certificate of investment registration abroad for projects subject to investment policy approval
Documents need to be prepared
Dossier to apply for a Certificate of investment registration abroad for projects subject to investment policy approval is specified in Article 75 of Decree 31/2021/ND-CP, as follows:
- Document for registration of investment abroad: Application for issuance of Certificate.
- Documents on investor’s legal status: Business registration certificate or identification documents.
- Proposed investment project including form, objectives, scale, investment location; Preliminary determination of investment capital, capital mobilization plan, implementation schedule and investment efficiency.
- Documents proving financial capacity: Financial statements of the most recent 2 years; Commitment to financial support from the parent company or credit institution.
- Commitment to foreign currency source: Commitment to self-arrangement or written commitment from a credit institution.
- In case the investor commits to arrange foreign currency, it is necessary to submit confirmation of the foreign currency account balance from the credit institution where the investor opened the account.
- Document certifying from the tax authority that tax obligations have been fully completed in Vietnam within the last 3 months before submitting the application for investment registration abroad.
- Documents confirming the location of the investment project abroad for the cases specified in Article 73 of this Decree.
- Documents determining the form of investment abroad according to the provisions of Article 74 of this Decree.
- Written approval of the owner’s representative agency: Approval to carry out investment activities abroad and internal appraisal report.
- Document from a competent authority: For projects in special industries, a document confirming the conditions for investing abroad is required.
- Report lending to economic organizations abroad includes information on the borrower’s name, total loan amount, loan purpose and conditions, debt disbursement and recovery plan, and asset security measures along with processing methods, plans to balance foreign currency sources, assess the borrower’s financial capacity, risk level and risk prevention measures.
- In addition, documents defining the guarantee obligation are needed if the investor guarantees the loan to the organization.
Execution order
The process of granting a Certificate of investment registration abroad for projects subject to investment policy approval is specifically stipulated in Article 61 of the Law on Investment 2020 and Article 76 of Decree 31/2021/ND-CP. Sequence steps include:
Step 1: Prepare and submit application
- Investors submit complete documents prepared according to regulations to the Ministry of Planning and Investment. Documents must be declared through the National Investment Information System and then submitted in hard copies including 03 sets of documents (01 original set and 02 copies).
- The application must be submitted after the investor has received written approval of the investment policy from the competent authority (National Assembly, Government or Prime Minister). This is a mandatory requirement before the Ministry of Planning and Investment considers issuing the Certificate of investment registration abroad.
Step 2: The Ministry of Planning and Investment receives and checks the documents
- After receiving complete dossiers, the Ministry of Planning and Investment checks the validity and completeness of the documents. In case any documents are invalid or missing, the Ministry will notify the investor within 05 working days from the date of receipt of the documents to make amendments and supplements.
- If the application meets the requirements, the Ministry of Planning and Investment will proceed with the next processing steps.
Step 3: Coordinate with relevant agencies
- For investment projects with large foreign currency capital (equivalent to 20 billion VND or more), the Ministry of Planning and Investment will consult with the State Bank of Vietnam on the possibility of money transfer, loan conditions, and foreign exchange-related issues.
- In some specific cases, such as projects in the journalism, radio and television industries, the Ministry of Planning and Investment will seek opinions from the Ministry of Information and Communications to assess the legality and impact of investment projects.
Step 4: Issue the Certificate of overseas investment registration
- After receiving enough comments from the competent authorities, the Ministry of Planning and Investment will issue a Certificate of investment registration abroad to the investor. The time for issuance of the Certificate is within 05 working days from the date of receiving the document approving the investment policy and the decision to invest abroad from the competent authority.
- If the application does not meet the conditions or violates regulations, the Ministry of Planning and Investment will issue a written refusal to issue the Certificate, clearly stating the reason for refusal and the contents that need to be supplemented or edited. (if any).
Guidance service for granting foreign investment registration certificate in Long Phan
Long Phan provides in-depth consulting services on the process of issuing Certificate of investment registration abroad. Services include:
- Consulting on necessary regulations, conditions and procedures for investing abroad.
- Prepare documents, prepare necessary documents, including registration applications, investment projects, and related documents.
- Support in submitting documents to competent state agencies.
- Representing customers in working with competent authorities.
- Monitor progress and update application status, resolve any arising problems if any.
- Provide advice on investors’ obligations and rights after being granted a Certificate.
- Consulting on other related issues.
Investors need to clearly understand the regulations related to conditions, documents and procedures for applying for a Certificate of investment registration abroad to avoid legal and financial risks. Mastering this information not only helps customers carry out projects effectively but also protects their rights during the investment process. If you have any questions or need in-depth advice, please contact Long Phan immediately via hotline: 0906735386.