WHICH PROJECTS MUST CARRY OUT PROCEDURES FOR INVESTMENT REGISTRATION CERTIFICATE?

According to the laws, investment projects are required to carry out procedures for issuance of Investment Registration Certificates and are only allowed to come into operation after the legal procedures are completed. Executing a project before being granted an Investment Registration Certificate may result in a fine of up to VND 200 million.

Then, which investment projects must carry out the procedures for issuing an Investment Registration Certificate?

1.         Cases in which the Investment Registration Certificate is granted:

Cases in which the procedures for issuance of an Investment Registration Certificate must be carried out include:

–          Investment projects of foreign investors;

–          Investment project of an economic organization in one of the following cases:

a.        There are foreign investors holding more than 50% of the charter capital or the majority of members are foreign individuals, for economic organizations that are partnerships;

b         There are economic organizations specified at Point a of this Clause holding more than 50% of charter capital;

c.       Foreign investors or economic organizations specified at Point a of this Clause hold more than 50% of the charter capital.

2.         Conditions for issuance of Investment Registration Certificate

For an investment project that is not subject to approval of investment policies as prescribed by laws, the investor shall be granted an Investment Registration Certificate if it meets the following conditions:

–           Investment projects not in business lines, fields banned from business investment;

–           Having a location for the the investment project execution;

–           Investment projects suitable with the planning in accordance with the Investment laws;

–           Meeting the conditions on investment rate per land area, number of employees (if any);

–           Meeting market access conditions for foreign investors.

3.         Procedures for issuance of Investment Registration Certificate

Procedures for granting and adjusting the Investment Registration Certificate for investment projects that are not subject to approval of investment policies are as follows:

–          Step 1: The investor submits 01 application for the Investment Registration Certificate to the investment registration agency.

–          Step 2: For an investment project that has been put into operation, the investor submits a dossier in accordance with the Law on Investment, in which the investment project proposal is replaced by a report on project implementation from the time of implementation to the time of applying for the Investment Registration Certificate.

–       Step 3: The investment registration authority shall issue the Investment Registration Certificate to the investor within 15 days from the date of receipt of the valid dossier and the project fully meets the conditions.

4.         Competent authority to receive dossiers and issue Investment Registration Certificates

–     Management boards of industrial parks, export processing zones, hi-tech zones and economic zones, for investment projects in industrial parks, export processing zones, hi-tech zones, economic zones (except for some precribles cases).

–     Department of Planning and Investment, for investment projects outside industrial parks, export processing zones, high-tech zones, economic zones (except for some precribles cases).

–     Investment registration agency where the investor implements the investment project, location and expected establishment of an executive office to execute the investment project, for investment projects which:

+      Are carried out in the locality of 02 or more provincial-level administrative units;

+     Are carried out inside and outside industrial parks, export processing zones, high-tech zones and economic zones;

+   In industrial parks, export processing zones, hi-tech parks, economic zones where the management board of industrial parks, export processing zones, hi-tech zones, economic zones has not been established or is not under the management of the industrial zones, export processing zones, high-tech zones, economic zones, etc management board.