Procedures for transfer of investment projects

3:05 am 20/08/2021 536 views

During the implementation of an investment project, the project investor is completely entitled to transfer part or the whole of his investment project to another investor. When transferring an investment project, the transferring investor needs to carry out procedures for changing investors with the competent state agency in charge of the investment. Hong Bang Law Firm would like to introduce to investors the procedures for transferring investment projects that are subject to investment policy decisions under the law as follows:

Legal basis

  • Investment Law 2020
  • Decree 31/2021/ND-CP guidance on the Law on Investment
  • Circular 03/2021/TT-BKHDT on investment forms.

Procedures

Step 1: Apply for transfer of investment project

According to the provisions of Clause 2, Article 46 of the Law on Investment 2020, the application for transfer of an investment project includes:

  • A written request for modification of the Investment Registration Certificate;
  • Investment project transfer contract;
  • Report on the implementation of the investment project up to the time of transfer of the investment project;
  • Copy of investment registration certificate or written decision on investment policy (if any);
  • A copy of the identity card, identity card, or passport for the investor being an individual; a copy of the Certificate of Establishment or other equivalent document certifying the legal status of the investor being an organization;
  • A copy of one of the following documents of the investor receiving the transfer of the investment project: financial statement of the last 2 years of the investor; commitment to the financial support of the parent company; financial institution’s commitment to financial support; guarantee on the financial capacity of the investor; documents explaining the financial capacity of the investor;
  • BCC contract for investment projects in the form of BCC contract.

After preparing a full dossier including the above documents, the dossier is submitted to the Investment Registration Authority for consideration and settlement.

Step 2: Receive and check the application

The investment registration agency receives and examines the application. If the application is complete and valid, it shall receive the application and issue a receipt to the investor; if the components of the dossier are incomplete, the receiving specialist/guide will explain to the investor to supplement and complete the dossier.

Step 3: Appraise and approve the application

  • For investment projects subject to the Prime Minister’s decision on investment policies:

Within 03 working days from the day on which the valid application is received, the Department of Planning and Investment shall send the dossier to the competent state agency for opinions on the conditions for transferring the investment project.

Within 10 working days from the date of receipt of the request of the Department of Planning and Investment, the agencies that are sent the dossiers shall have opinions on the transfer conditions under their management.

Within 25 days from the date of receipt of a valid dossier, as prescribed, the Department of Planning and Investment shall submit it to the City People’s Committee for consideration and comments to the Ministry of Planning and Investment (Points c and d). Clause 1, Article 45 of the Law on Investment 2014).

Within 10 working days from the date of receipt of opinions from the City People’s Committee, the Ministry of Planning and Investment shall prepare an appraisal report on the conditions for transferring investment projects.

Within 07 working days after receiving the appraisal report from the Ministry of Planning and Investment, the Prime Minister shall consider and decide to adjust the investment policy. The written decision on adjustment of investment policy shall be sent to the Ministry of Planning and Investment, the City People’s Committee and the Investment Registration Authority;

Within 05 working days from the date of receipt of the decision on adjustment of investment policies, the Department of Planning and Investment shall amend the Investment Registration Certificate for the investor receiving the transfer of the investment project.

  • For investment projects subject to the decision on investment policies of the People’s Committee of the province:

Within 03 working days from the day on which the valid application is received, the Department of Planning and Investment shall send the dossier to the competent state agency for opinions on the conditions for transferring the investment project;

Within 10 working days from the date of receipt of the request of the Department of Planning and Investment, the agencies are allowed to send the application for comments on the transfer conditions under their management;

Within 20 days from the day on which the valid application is received, the Department of Planning and Investment shall make a report on the satisfaction of the conditions for project transfer;

Within 05 working days from the date of receiving the report from the Investment Registration Authority, the City People’s Committee shall consider and decide to adjust the investment policy;

Within 03 working days from the date of receipt of the decision on adjustment of investment policies, the Department of Planning and Investment shall amend the Investment Registration Certificate for the investor receiving the transfer of the investment project.

Step 4: Receive administrative settlement results

The investor shall base on the appointment date on the application receipt to receive the settlement result at the investment registration agency that has applied.

Results of administrative procedures: Investment registration certificate, for investment projects operating under the Investment Registration Certificate; The document amending the decision on investment policy of the Prime Minister, the People’s Committee of the city/district for investment projects that do not issue an Investment Registration Certificate.

Processing time

Within 10 working days from the date of receipt of complete and valid dossiers for investor change procedures, for investment projects operating under the Investment Registration Certificate and not subject to the decision on investment policies. private.

Within 40 working days from the date of receipt of complete and valid dossiers for investor change procedures for investment projects subject to adjustment of investment policy decisions of the City People’s Committee. city.

Within 50 working days from the date of receipt of complete and valid dossiers, for investor change procedures, for investment projects operating under the Investment Registration Certificate and subject to a decision investment policy of the Prime Minister.

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 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!

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