Procedures for granting Investment Certificates to foreign investors

Procedures for granting Investment Certificates to foreign investors is an important step for foreign investors when wanting to implement investment projects in Vietnam. This process requires compliance with legal conditions, application forms, and registration procedures. This article will provide detailed information about investment certificate procedures so that foreign investors can understand and implement them effectively.

Conditions for granting Investment Certificates to foreign investors

To be granted an Investment Registration Certificate, foreign investors need to meet a number of specific conditions according to the provisions of the Law on Investment 2020. Specifically, for investment projects that are not subject to investment policy approval, investors must meet the following criteria:

• The project does not belong to an industry banned from business investment.
• Have a clear location for implementing the investment project.
• The project is in accordance with the approved planning according to Point a, Clause 3, Article 33 of the Law on Investment 2020.
• Meet the conditions of investment rate per land area and number of labor employed (if any).
• Meet market access conditions for foreign investors according to regulations.

Application for Investment Certificates to foreign investors

The application for an Investment Certificates to foreign investors is different depending on whether the project is subject to investment policy approval or not.

Projects not subject to investment policy approval:

• Written request to implement an investment project, accompanied by a commitment to bear all costs and risks if the project is not approved.
• Documents on the investor’s legal status.
• Documents proving the investor’s financial capacity, including the most recent 2-year financial statements, commitment to financial support, financial capacity guarantee or other documents proving financial capacity.
• Proposed investment project.
• Copy of land use rights documents or other documents determining the right to use the location to carry out the investment project (if the project does not request the State to allocate land, lease land, or allow change of land use purpose).
• Content explaining the technology used in the investment project (for projects subject to appraisal and consultation on technology).
• BCC contract (for investment projects in the form of BCC contract).
• Other documents related to the investment project, conditions and capacity requirements of the investor according to the provisions of law (if any).

Projects subject to investment policy approval: Decision approving the investment policy.

Procedures for granting Investment Certificates to foreign investors

Issuing investment certificates to foreign investors is carried out as follows:

For projects subject to investment approval

Pursuant to Article 35 of Decree 31/2021/ND-CP, procedures for granting Investment Registration Certificates to projects subject to investment policy approval are specifically regulated as follows:

Procedures for issuance of Investment Registration Certificate for investment projects with investment policy approved simultaneously with investor approval and subject to issuance of Investment Registration Certificate are carried out as follows:

• Based on the Decision approving the investment policy, the investment registration agency shall issue an Investment Registration Certificate within 05 working days from the date of receiving the Decision approving the investment policy.
• For investment projects under the investment policy approval authority of 02 or more provincial People’s Committees, based on the request of the Ministry of Finance, the Prime Minister assigns the Department of Finance of a province or centrally run city where the investor implements the investment project to place or is expected to locate an executive office to implement the investment project to issue an Investment Registration Certificate.
• For investment projects that have had their investment policy approved and the investor has won the auction or bid; Investment projects subject to investor approval according to the provisions of Clause 3, Article 29 of the Law on Investment and subject to issuance of Investment Registration Certificate, the investor submits a written request for an Investment Registration Certificate to the investment registration agency to be granted an Investment Registration Certificate within 05 working days from the date the investment registration agency receives the written request.
• For investment projects in cases where the Economic Zone Management Board approves the investor, the Economic Zone Management Board decides to approve the investor at the same time as issuing the Investment Registration Certificate.

For projects not subject to investment policy approval

Procedures for granting Investment Registration Certificates for investment projects not subject to investment policy approval are implemented according to Article 36 of Decree 31/2021/ND-CP.

Submit application:

• The investor submits 01 set of application documents for an Investment Registration Certificate to the investment registration agency.
• In case the investment project is implemented in 02 or more provincial administrative units, the investor submits documents to the Department of Finance of a province or centrally run city where the investor implements the investment project, places or plans to locate an executive office to request an Investment Registration Certificate for the project.
• For investment projects that have been put into operation, the investor submits an application in which the investment project proposal is replaced by a report on the implementation of the investment project.

Deadline for issuance of investment registration certificate:

The investment registration agency issues the Investment Registration Certificate to the investor within 15 days from the date of receipt of valid documents.

>>> See more: Procedures for Applying for an Investment License in an Industrial Park

Consulting services and support for applying for investment certificates to foreign investors in Long Phan

At Long Phan Consulting Company, we provide comprehensive consulting and support services in the process of applying for Investment Certificates to foreign investors. Below are our services:

• Evaluate the feasibility and risks of investment projects;
• Consulting on conditions for granting investment certificates;
• Draft and complete application documents for Investment Registration Certificate;
• Instructions on the process of applying for an Investment Certificate;
• Investor representative applying for investment certificate;
• Consulting and guidance on additional documents (if any);
• Consulting and answering other related issues.

Frequently asked questions about procedures for granting investment certificates to foreign investors

Below are questions related to procedures for granting investment certificates to foreign investors that customers can refer to:

What is the maximum time to receive the Investment Registration Certificate?

The maximum time for the investment registration agency to issue an Investment Registration Certificate is 15 working days from the date of receipt of complete and valid documents for projects not subject to investment policy approval. For projects subject to investment policy approval, the time limit is 05 working days.

How does the appraisal process for an Investment Certificate application take place?

The investment registration agency will conduct an appraisal of the legality and feasibility of the project, reviewing the project’s compatibility with the planning and legal regulations. During this process, the investment registration agency may request investors to explain or provide additional information.

What factors can affect the issuance of an Investment Certificate?

Factors such as the completeness and accuracy of documents, the project’s compatibility with the planning, the investor’s financial capacity, and compliance with legal regulations can all affect the issuance of an Investment Certificate.

Can a foreign investor authorize a representative to carry out procedures for applying for an Investment Certificate?

Yes, foreign investors can authorize a legal representative to carry out procedures for applying for an Investment Certificate in Vietnam. The authorization document needs to be notarized or authenticated according to the provisions of law.

After receiving the Investment Certificate, what procedures do foreign investors need to follow next?

After receiving the Investment Certificate, investors need to carry out procedures such as business registration, opening a bank account, and fulfilling tax and labor obligations according to Vietnamese law.

Do foreign investors enjoy investment incentives when investing in Vietnam?

Depending on the industry, investment area and project scale, foreign investors may enjoy investment incentives according to Vietnamese law. These incentives may include tax incentives, land rent and other support.

Do foreign investors need to comply with environmental protection regulations when implementing investment projects in Vietnam?

Yes, foreign investors need to strictly comply with the provisions of Vietnamese law on environmental protection during the implementation of investment projects.

Conclude

The process of applying for Investment Certificates to foreign investors can be complicated and requires legal understanding. Long Phan is ready to support customers in every stage of this process, from initial consultation to completion of procedures. If you have any questions, please contact us via the hotline: 0906735386 for detailed advice.