Vietnam is a country with a significant investment appeal in an integrated market economy due to its advantages in both human resources and high preferential policies for foreign investors in Vietnam. However, to invest in Vietnam, one of the first things to do is apply for an investment registration certificate. Hong Bang Law Firm, with experienced team in the field of investment, would like to send to clients the following advice:

Legal basis

• Law on Investment 2020;
• Decree No. 31/2021/ND-CP elaboration of some articles of the law on investment;
• Circular No. 03/2021/TT-BKHDT prescribing templates for documents and reports related to investment activities in Vietnam, outward investment activities and investment promotion activities.

Conditions for issuance of investment registration certificates

• The investment project does not involve any banned business line;
• There is a location for execution of the investment project;
• The investment project is conformable with the planning specified in Point a Clause 3 Article 33 of this Law;
• The investment per m2 (or investment per employee) is not smaller than the minimum requirement.
• Market access conditions applied to foreign investors are satisfied.
• Other conditions in accordance with the law.

Dossier

• An application for approval for investment guidelines of an investment project proposed by an investor includes:
• An application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;
• A document about the investor’s legal status;
• Document(s) proving the financial capacity of the investor including at least one of the following documents: the investor’s financial statements for the last two years; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;
• Proposal for the investment project including the following main contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project and proposed demand for land use (if any), demand for labor, proposal for investment incentives, impact and socio – economic efficiency of the project and preliminary assessment of environmental impact (if any) in accordance with regulations of law on environmental protection.
• If the law on construction requires formulation of a pre-feasibility study report, the investor is entitled to submit the pre-feasibility study report instead of a proposal for the investment project;
• If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted;
• Contents of the explanation for the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology in accordance with the Law on Technology Transfer;
• The business cooperation contract if the investment project is executed under a business cooperation contract;
• Other documents relating to the investment project, and requirements on the eligibility and capacity of the investor in accordance with regulations of law (if any).

Competent authority

Case 1: Management Board of industrial parks, export processing zones, hi-tech parks, economic zones for:

• Investment projects in industrial parks, export processing zones, high-tech parks, economic zones.
• Investment projects in construction and business of infrastructure of industrial parks, export processing zones, high-tech parks and functional zones in economic zones.

Case 2: Department of Planning and Investment

Case 3: The investment registration authority where the investor implements the investment project, places or plans to set up Project management office in the case of:

• Investment projects implemented in 02 or more provincial administrative units;
• Investment projects implemented in and out of industrial parks, export processing zones, high-tech parks and economic zones;
• Investment projects in industrial parks, export processing zones, high-tech parks, economic zones where management boards of industrial parks, export processing zones, high-tech zones, economic zones or not under the management of industrial parks, export processing zones, high-tech parks have not been established, economic zone.

Services of Hong Bang Law Firm

• Advise clients to prepare dossiers;
• Support clients to notarized and certify documents of foreign countries (if any);
• Draft, prepare and check the validity of the dossier;
• Represent clients to carry out procedures with competent authority;
• Hand over the results to the clients.

If you need more detailed advice and answers as well as how to access this service, please contact directly our Lawyer Nhat Nam via hotline: 0912.35.65.75, 0912.35.53.53 or call the toll free legal consultation hotline 1900.6575 or send a service request via email: lienheluathongbang@gmail.com

Wishing you and your family good health, peace and success!

Best regards!