OUTWARD INVESTMENT REGISTRATION CERTIFICATES

Outward investment is an activity encouraged by the law of Vietnam, but the implementation must comply with certain legal regulations. In some cases, investors need to carry out procedures for outward investment registration certificates.

Acts of outward investment without issued an outward investment registration certificates as prescribed, may be subject to a fine from VND 100,000,000 to VND 200,000,000.

The following article will summarize the procedures of implementation  for issuance of outward investment registration certificates of the project not subjected to policy approval.

1. Execution procedures for issuance of outward investment registration certificates

– Step 1: Dossier submission

The investor shall declare information on the application for issuance of the outward investment registration certificate on the National Investment Information System within the next 15 days and submit the application to the competent agencies.

– Step 2: Dossier processing

The competent agencies shall inspect the validity of the application.

If the application is invalid or has to be clarified, the Ministry of Planning and Investment shall notify the investor within 05 working days from the receipt of the application.

If the amount of foreign currency capital transferred overseas is VND 20 billion or more, the competent agencies shall request the State Bank of Vietnam in writing to provide opinions complying with regulations.

If the outward investment specifies that the investor grants a loan to the foreign business organization to execute the project, after being issued with the outward investment registration certificate, the investor must follow procedures for approval for overseas lending in accordance with regulations of law on foreign exchange;

If the outward investment project involves press, radio or television, the competent agencies shall send a written request for opinions to the Ministry of Information and Communications as prescribed.

– Step 3: Issuing Investment Registration Certificate

Within 15 days from date of receiving the valid application, the competent agencies shall issue the outward investment registration certificate which specifies the investment project code as prescribed in and send its copy to the state agencies with relating authority.

If the application is invalid or fails to satisfy the conditions for issuance of the outward investment registration certificate, the competent agencies shall send the investor a written notification of its refusal to issue the outward investment registration certificate and reasons therefor.

2. Dossier for issuance of outward investment registration certificates

– A written registration of outward investment;

– Documents on the investor’s legal status;

– Decision on outward investment according to regulations;

– A commitment to balance foreign currency sources or a commitment of an authorized credit institution to provide foreign currencies for the investor prescribed enclosed with a credit institution’s written confirmation of balance of the investor’s foreign currency account.

– The tax authority’s certification of the investor’s fulfillment of the tax payment obligation;

– The document specifying location of the outward investment project;

– The document specifying the form of outward investment.

3. Agencies competent to handle

Ministry of Planning and Investment.