Contents
I. Legal provisions on investment registration certificates
IRC stands for the phrase Investment Registration Certificate, in the field of investment in Vietnam, this phrase means Investment Registration Certificate.
According to the provisions of Clause 3, Article 11 of the Investment Law 2020, the investment registration certificate is:
“Investment registration certificate” means a physical or electronic document bearing information registered by an investor about an investment project.
II. Cases of carrying out procedures for issuance of investment registration certificates
According to the provisions of Clauses 1 and 2, Article 37 of the Law on Investment 2020, the cases that must and are not required to carry out the procedures for granting an investment registration certificate are:
1. The investment registration certificate is required in the following cases:
a) Investment projects of foreign investors;
b) Investment projects of the business organizations mentioned in Clause 1 Article 23 of this Law.
2. Cases in which the investment registration certificate is not required:
a) Investment projects of domestic investors;
b) Investment projects of the business organizations mentioned in Clause 2 Article 23 of this Law;
c) Investment in the form of capital contribution, purchase of shares or stakes in a business organization;
III. Term of Investment Certificate
The term of the Investment Certificate is the operational term of the investment project. The term of the Investment Certificate shall be considered and decided by the Investment Certificate Authority based on the objectives, scale, location and operational requirements of the investment project. Accordingly, the maximum term of an Investment Certificate is specified in Article 44 of the Investment Law 2020 as follows:
+ The duration of operation of an investment project in an economic zone must not exceed 70 years.
+ The duration of operation of investment projects outside economic zones must not exceed 50 years.
+ Investment projects implemented in areas with difficult socio-economic conditions, areas with extremely difficult socio-economic conditions or investment projects with large investment capital but slow capital recovery. the operation term of the investment project may be longer but must not exceed 70 years.
IV. Procedures for renewal of Investment Registration Certificate
Deadline for submission of extension:
The time to extend the Investment Registration Certificate is before the expiration of the license period, about 3-5 months, the foreign investor needs to carry out the procedures for renewing the investment registration certificate. also extended the duration of the project.
Profile composition:
– A written request for an extension of the operation term of the investment project;
– Decision approving the investment policy;
– Certificate of investment registration;
– Decision on investor approval or papers of equivalent legal value;
– Certificate of land use right or papers of equivalent legal value;
– Documents proving the investor’s financial capacity, including one of the following documents: financial statements of the last 2 years of the investor; commitment to financial support of the parent company;
– Commitment to financial support of financial institutions;
– Guarantee on the financial capacity of the investor;
– Other documents proving the investor’s financial capacity.
Sequence:
Step 1: Prepare documents: Dossier made in Vietnamese or Vietnamese and English (Documents in foreign languages: must be translated into Vietnamese and notarized).
Step 2: Submit your application:
For investment projects with approved investment policies: Investors submit dossiers to one of the following two agencies:
+ The Ministry of Planning and Investment in case the National Assembly or the Prime Minister is the agency approving the project investment policy;
+ The agency that has issued the investment certificate in case the provincial People’s Committee approves the investment policy.
For an investment project that has been granted an Investment Certificate and is not subject to investment policy approval: The investor shall submit a project extension dossier to the agency that has issued the previous Investment Certificate.
Step 3: Settlement of records:
The competent authority will review and process the application.
To save time on researching procedures, filling out forms, notarizing documents, and waiting for submission, you can contact HT for consultation and assistance with Investment registration certificate.
Contact us:
- Email: hue.truong@htlaw.vn
- Phone: +84 935 439 454.