Vietnam’s Investment Law 2020 provides comprehensive guidelines regarding the adjustment of Overseas Investment Registration Certificates, particularly concerning changes in investment capital sources. This regulatory framework ensures proper oversight of overseas investments while maintaining transparent procedures for investors.
Mandatory Adjustment Requirements
According to Article 63 of the Investment Law 2020, investors must adjust their Certificate of Overseas Investment Registration in several scenarios, including:
- Changes in Vietnamese investors
- Modifications to investment forms
- Alterations in overseas investment capital, capital sources, or investment capital forms
- Changes in investment location for projects requiring specific locations
- Modifications to main investment objectives
- Use of overseas investment profits as specified in Points a and b, Clause 1, Article 67
Required Documentation
When applying for an adjustment due to changes in investment capital sources, investors must submit a comprehensive documentation package including:
Written adjustment request for the Certificate of Overseas Investment Registration
- Legal status documentation of the investor
- Current project operation status report
- Decision on adjusting overseas investment activities (as per Article 59)
- Copy of existing Overseas Investment Registration Certificate
- Tax authority confirmation of fulfilled tax obligations (required for increased investment capital)
The Ministry of Planning and Investment handles adjustment requests with the following specifications:
- Standard processing time: 15 days from complete application receipt
- Special consideration: Projects requiring overseas investment policy approval must obtain adjustment approval before certificate modification
Capital Transfer Regulations
For the implementation of overseas investment activities, capital transfer is permitted under specific conditions:
Prerequisites for Capital Transfer
- Possession of an Overseas Investment Registration Certificate (with specific exemptions under Clause 3, Article 66)
- Investment approval or licensing from the recipient country’s authorities
- Establishment of a proper capital account (as per Article 65)
Additional Requirements
- Compliance with foreign exchange management laws
- Adherence to export regulations
- Conformity with technology transfer requirements
- Permission for preliminary activities including:
- Market surveys
- Research activities
- Market exploration
- Other preparation activities as government-prescribed
This regulatory framework demonstrates Vietnam’s commitment to maintaining orderly overseas investment procedures while providing clear guidelines for investors seeking to modify their investment parameters.
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