What procedures should a domestic enterprise want to carry out for investment abroad? Our company specializes in providing consulting services and carrying out procedures for applying for an offshore investment registration certificate. This procedure is specified as follows
Legal basis
- Investment Law 2020
- Decree 31/2021/ND-CP guiding the Law on Investment
- Circular 03/2021/TT-BKHDT stipulating the form of documents and reports related to investment activities in Vietnam, investment from Vietnam to abroad and investment promotion issued by the Ministry of Planning and Investment onion
- Decree 29/2021/ND-CP stipulating the order and procedures for appraising national important projects and investment monitoring and evaluation
Regulation
Conditions for issuance of outward investment registration certificate
- Outward investment activities shall adhere to the rules prescribed in Article 51 of this Law.
- Outward investment activities do not involve any business line banned from outward investment as prescribed in Article 53 of this Law and conditions for outward investment applicable to business lines subject to conditional outward investment as prescribed in Article 54 of this Law are satisfied.
- The investor makes a commitment to prepare foreign currencies themself or obtains a commitment to prepare foreign currencies from an authorized credit institution for the purposes of conducting outward investment activities.
- There is an outward investment decision as prescribed in Article 59 of this Law.
- There is a tax authority’s certification of the fulfillment of tax obligation by the investor. Such certification must be issued by the tax authority within the last 03 months.
Conditions for issuance of outward investment registration certificate
- As for the investment project is subject to approval for its outward investment guidelines
If the investment project is subject to approval for its outward investment guidelines, the Ministry of Planning and Investment shall issue the outward investment registration certificate to the investor within 05 working days from receipt of the written approval for investment guidelines and the outward investment decision prescribed in Article 59 of this Law.
- As for the investment project is not subject to approval for its outward investment guidelines
Regarding the investment project not mentioned in Clause 1 of this article, the investor shall submit an application for issuance of an outward investment registration certificate to the Ministry of Planning and Investment. The application consists of:
- a) An outward investment registration form;
- b) A document about the investor’s legal status;
- c) The outward investment decision prescribed in Article 59 of this Law;
- d) A commitment to balance foreign currency sources or a commitment of an authorized credit institution to provide foreign currencies for the investor prescribed in Clause 3 Article 60 of this Law;
- dd) With regard to an outward investment project in the business lines specified in Clause 1 Article 54 of this Law, the investor shall submit a certification of the investor’s fulfillment of conditions for outward investment issued by a competent authority in accordance with the relevant regulations of law (if any).
Licencing agency and execution time
Within 15 days from receipt of the application prescribed in Clause 2 of this Article, the Ministry of Planning and Investment shall issue an outward investment registration certificate; in case of rejection of the application, a written explanation shall be provided to the investor.
Note: In case the amount of foreign currency capital transferred abroad is VND 20 billion or more, the Ministry of Planning and Investment shall request the State Bank of Vietnam to provide opinions in writing.
Above is our consultancy about this issue. If you need more detailed advice and answers as well as how to access this service, please contact directly the Deputy Director of Sales: Lawyer Nhat Nam via hotline: 0912.35.65.75, 0912.35.53.53 or call the free legal consultation hotline 1900.6575 or send a service request via email: lienheluathongbang@gmail.com
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