OFFSHORE BUSINESS INVESTMENT CONSULTANCY IN VIETNAM

Nowadays, the trend of global economic integration is spreading strongly to all countries in the world, making offshore business investment activities become more and more popular. Offshore business investment is considered a new trend of Vietnamese businesses today, helping investors have more opportunities and increase profits in potential markets other than the domestic market. In order to support customers in implementing necessary legal procedures of offshore investment activities, Doanh Tri Law firm would like to introduce consultancy services for offshore business investment with the most competitive prices on the market, ensuring fast, accurate and efficient quality.

I. Offshore business investment activities in accordance with Vietnamese law

Vietnamese law stipulates “Offshore investment means the investor’ activities of transferring capital, or payment for the purchase of part or whole of business establishments, or establishment of ownership for implementing business activities outside Vietnam’s territory; and direct involvement in the management of such investment activities”. (According to Clause 1, Article 3 of Decree No. 83/2015/ND-CP of the Government - Regulations on offshore investment)

According to the Law on Investment 2014, investors shall make an offshore business investment in the following forms:

- Establishing economic organizations in accordance with the laws of host countries;

- Performing BCCs overseas;

- Purchasing part or the whole of the charter capital of overseas economic organizations to participate in managing and carrying out overseas business investment activities;

- Purchasing and selling securities and other valuable papers or making an investment via overseas securities investment funds or other intermediary financial institutions (The Government shall stipulate in detail this form of investment);

- Other forms in accordance with the laws of host countries.

II. Offshore investment projects

Based on the characteristics of capital sources, fields, and project requirements, offshore investment projects are divided into the following four types:

- Projects subject to investment policy decided by the National Assembly:

+ Offshore investment projects capitalized at VND 20 trillion or more;

+ Projects requiring special mechanisms or policies to be decided by the National Assembly.

- Projects subject to investment policy decided by the Prime Minister:

+ Offshore investment projects in the banking, insurance, securities, press, broadcasting, television, and telecommunications sectors which are capitalized at VND 400 billion or more;

+ Investment projects not in the fields of banking, insurance, securities, press, broadcasting, television, and telecommunications sectors which are capitalized at VND 800 billion or more;

- The project is not subject to investment policy decision which is capitalized at over VND 20 billion (the Ministry of Planning and Investment shall solicit written opinions of the State Bank of Vietnam);

-The project is not subject to investment policy decision which is capitalized at less than VND 20 billion.

III. Procedures for grant of offshore investment registration certificates

The conditions and procedures for grant of offshore investment registration certificates in accordance with the 2014 Law on Investment as follows:

* Conditions for grant of offshore investment registration certificates

- Offshore investment activities comply with the principles prescribed in the Law on Investment

- Offshore investment activities do not fall in the sectors or trades banned from business investment as prescribed in the Law on Investment

- The investor commits to arranging foreign currency amounts by him/her/itself or has foreign currency amounts arranged by a licensed credit institution for carrying out offshore investment activities. For foreign currency amounts to be transferred abroad which are equivalent to VND 20 billion or more and are not used for projects which are subject to an investment policy decision, the Ministry of Planning and Investment shall solicit written opinions of the State Bank of Vietnam

- There is an offshore investment decision as prescribed in the Law on Investment

- There is a tax agency’s document certifying the investor’s fulfillment of the tax payment obligation by the time of submission of the investment project dossier.

* Procedures for grant of offshore investment registration certificates

- For projects subject to an offshore investment policy decision, within 5 working days after receiving an investment policy decision, the Ministry of Planning and Investment shall grant an offshore investment registration certificate to the investor.

- For projects not required to an offshore investment policy decision, the investor shall submit a dossier of application for an investment registration certificate to the Ministry of Planning and Investment. Within 15 days after receiving a valid dossier, the Ministry of Planning and Investment shall grant an offshore investment registration certificate, or issue a written notice clearly stating the reason for refusal to grant a certificate to the investor.

IV. Contents of offshore business investment consultancy

To help investors implement the necessary procedures to conduct offshore investment activities in a complete, quick, and cost-saving way, Doanh Tri Law firm provides investment consultancy services with specific tasks as follows:

- Consulting on conditions and legal characteristics of offshore investment activities

- Support customers in understanding the foreign investment market and the law of investment recipient countries

- Consulting to prepare necessary documents and detailed legal procedures to conduct investment activities

- Prepare a dossier, representatives submit applications, monitor and receive results from competent authorities

- Other consulting services required by customers

Besides, Doanh Tri Law firm will support free legal consulting for 1 year for customers who use the company's services and commit that there will be no additional costs other than the price of the service package provided by the company.

For further information, please contact us:

Hotline: +84.911.233.955 or Email: [email protected]