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In Vietnam’s investment environment, changes in investment projects are inevitable, ranging from capital increases, changes in scale, to the addition of new business sectors. To ensure legality and transparency, investors must carry out the procedure for adjusting the Investment Registration Certificate (IRC) in accordance with the law. Understanding the process and preparing complete documentation is crucial for businesses to save time and costs.
When is an IRC Adjustment Needed?
According to the 2020 Investment Law and Decree No. 31/2021/ND-CP, investors must adjust the IRC in the following cases:
- Changes in Investor Information: Name, address, or contact information.
- Changes in Investment Sectors: Adding or adjusting registered business sectors.
- Changes in Project Location: Changing or adding new locations.
- Increase or Decrease in Investment Capital: Adjusting the investor’s contribution or total investment capital.
- Changes in Project Duration: Extending or shortening the project duration.
- Other Changes: Including objectives, scale, methods of project execution, or investment incentives.
Required Documents for IRC Adjustment
To carry out the IRC adjustment procedure, investors must prepare the following documents:
- Request for Adjustment: Clearly stating the content and reasons for the project adjustment.
- Report on Project Implementation: Updating the project progress up to the time of the adjustment.
- Decision and Meeting Minutes: The investor’s decision or the meeting minutes of the board of directors/members council regarding the adjustment.
- Current IRC: A valid copy of the current IRC.
- Financial Capacity Proof: In cases of capital increase or project expansion.
- Related Documents:
- Documents related to regulated business sectors (if applicable).
- Contracts or agreements between investors (if there are changes).
- Professional certificates or supplementary business licenses (if the sector requires them).
Adjustment Procedure
- Submit Documents: Investors submit the documents to the competent investment registration authority (Department of Planning and Investment or Management Boards of Industrial Parks, depending on the case).
- Review: The investment registration authority will review and verify the documents within the prescribed timeframe.
- Request for Supplementation (if needed): If the documents are incomplete or contain errors, the investor will be asked to supplement or modify them.
- Issuance of Adjusted IRC: If the documents are valid, the investment registration authority will issue a new IRC reflecting the changes within 10 to 25 working days, depending on the nature of the adjustment.
Important Notes
Businesses should note that the information provided above is for reference only. The IRC adjustment procedure in Vietnam may vary from case to case, and there is no standardized template for all situations. To ensure a high success rate, businesses are advised to contact experienced legal consulting firms specializing in IRC adjustments in Vietnam for specific assistance.
ASL Law is a leading full-service and independent Vietnamese law firm made up of experienced and talented lawyers. ASL Law is ranked as the top tier Law Firm in Vietnam by Legal500, Asia Law, WTR, and Asia Business Law Journal. Based in both Hanoi and Ho Chi Minh City in Vietnam, the firm’s main purpose is to provide the most practical, efficient and lawful advice to its domestic and international clients. If we can be of assistance, please email to [email protected].
ASL LAW is the top-tier Vietnam law firm for Investment Services. If you need any advice, please contact us for further information or collaboration.
