HOW TO TRANSFER TO INVESTMENT IN VIETNAM
Investor demand for project transfer is increasing. Because project transfer requires less initial infrastructure expenditure, the number of new investors entering Vietnam to register for new investment projects has reduced. As a result, investors can sell a portion or all of their investments to new investors.The investor on the Investment Registration Certificate and the Business Registration Certificate is changed with this method.
- Law on Investment 2020;
- Law on Enterprise 2020.
I. PROJECT TRANSFER CONDITION
The following are some of the requirements for investors to transfer investment projects:
- Not in any of the termination circumstances;
- Comply with the investment conditions that apply to foreign investors in the event that a project in a conditional investment sector or trade is transferred to the foreign investor;
- If the project transfer is linked to the transfer of land use rights, adhere to the conditions set forth in the land and real estate business laws;
- The terms of the Investment Registration Certificate or other applicable laws (if any).
II. PROCEDURE FOR TRANSFERRING PROJECTS
Step 1: Request permission to contribute capital, buy shares, and contribute capital to a business.
Foreign investors prepare application dossiers for capital contributions, stock purchases, and capital contributions to economic organizations.
The investor must file one application with the Department of Planning and Investment/Industrial Park Management Board in the state where the economic organization is based.
The Department of Planning and Investment/Industrial Zones Management Board will give a formal permission of the capital contribution, share purchase, and capital contribution within 15 days after receiving complete dossiers. In the event that the prerequisites are not met, the Department of Planning and Investment/Industrial Park Management Board will notify the investor in writing and explain why.
Step 2: When registering a business, you can change the owner, member, or shareholder.
On the website, investors submit one set of electronic dossiers dangkytinhdoanh.gov.vn. The Department of Planning and Investment will issue a valid notice within three working days of receiving complete dossiers. The reason for the refusal must be expressed explicitly. The investor brings the hard copy of the valid notice to the Department of Planning and Investment to receive the results within 30 working days after receiving it (In the event that the submission is made using the business registration account).
Step 3: Change the certificate of investment registration.
Whether or not the project is subject to an investment policy decision will determine the procedure for modifying the Investment Certificate. The following is an example:
- Investors must submit one set of documentation to the Department of Planning and Investment/Management Board of Industrial Parks for projects that are not subject to a policy decision. The Investment Registration Authority will provide an updated Investment Registration Certificate within 15 days of receiving a complete and valid application.
- For projects that are subject to provincial People's Committee policy decisions, the investor must submit four sets of dossiers to the Department of Planning and Investment/Management Board of Industrial Parks.
The above information is about the ‘How to transfer to investment in Vietnam'. For more information and advice on this issue, please contact Doanh Tri Law Firm directly via:
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