The procedures for the issuance, adjustment and revocation of Investment Registration Certificate

1. The procedures for the issuance Investment Registration Certificate 

Step 1: Prepare an application for an Investment Registration Certificate, including:

• A written request for implementing the investment project.

• Documentation of legal status of investors.

• Documents proving the financial capacity of the investor, including at least one of the following documents: financial statements of the last 2 years of the investor; commitment of financial support of the parent company; commitment of financial institution to support; guarantee on the financial capacity of the investor; other documents proving the financial capacity of the investor.

• Proposal of investment projects. If the law of construction stipulates that the investor must have a pre-feasibility study report, the investor may submit a pre-feasibility study report instead of the investment project proposal.

• In case the investment project does not request the State to allocate, lease land or permit the change of land use purpose, the investor has to submit a copy of the paper on land use rights or another document determining the right to use the land for implementation of the investment project.

• The explanation of the technology used in the investment project for the appraisal project and the consultation on technology according to the law on technology transfer.

• BCC contract for investment projects in the form of BCC contract.

• Other documents related to the investment project, requirements on conditions and capacity of the investor according to regulations of the Law (if any).

Step 2: Submit the dossier at the competent state agencies, which is the Department of Planning and Investment.

Step 3: Within 15 working days from the date of receipt of complete and valid documents, the Department of Planning and Investment issues the Investment Registration Certificate to the investor.

2. The procedures for the adjustment the Investment Registration Certificate

Step 1: Prepare an adjustment dossier for the Investment Registration Certificate, including:

• A written request for adjustment of the Investment Registration Certificate.

• Report on the implementation of investment projects up to the time of adjustment.

• The decision of the investor on adjustment of the investment project for institutional investors or an equivalent document for individual investors.

• Explain or provide documents related to the adjustment of the investment certificate corresponding to the contents that need to be adjusted.

Step 2: Submit the dossier at the competent state agencies - Department of Planning and Investment

Within 15 working days from the date of receipt of a complete dossier as prescribed, the investment registration authority will adjust the Investment Registration Certificate; In case of refusal to adjust the Investment Registration Certificate, a written notice will be given to the investor with clear reason.

3. The procedures for the revocation of Investment Registration Certificates

According to the provisions of the Law on Investment 2020, Investment Registration Certificate will be revoked in the following cases:

• The investor decides to terminate the operation of the investment project.

• Terminate according to the termination conditions regulated in the contract, the charter of the enterprise.

• The investment project has expired.

• The investment project falls into one of the cases in which the investment state management agency or the Prime Minister decides to stop or partially stop the operation of the investment project according to the law and the investor is unable to fix the condition of stop operation.

• The investor whose land used to implement an investment project is acquired by the State or is not allowed to continue using the investment location and fails to carry out the procedures of adjustment of the investment location within 6 months from the date of decision of acquisition land or not continue to use the investment land.

• The investment project has stopped and expired 12 months from the date of stop he operation and the investment registration agency has not been able to contact the investor or the legal representative of the investor.

• After 12 months from the date of granting Investment Registration Certificate, the investor fails to implement or is unable to implement the project according to the schedule registered with the investment registration agency and does not in one of the following cases: to delay the implementation of investment projects.

• Terminate according to the judgment or decision of the Court or Arbitral award.

When an investment project terminates its operation, the Investment Registration Certificate must be revoked. For the revocation of an Investment Registration Certificate, there are no special requirements under Vietnamese law, no fees, and the administrative procedures are simple.

Step 1: Prepare documents including

A written request for revocation of the Investment Registration Certificate, including the information of the project implementation situation, the base for terminating the project contract, and enclosed with documents on completion of the project contract termination procedures.

Step 2: Submit the dossier and receive the result

The investor and the competent state agencies shall carry out the procedures of termination of the project contract and settle the relevant procedures as agreed in the project contract. Within 15 days from the date of completion of the project contract termination procedures and related procedures, the investor and the competent state agency shall send a written request for the revocation of the Investment Registration Certificate to the Department of Planning and Investment.

Within 30 days from the date of receiving the request for revocation of the Investment Registration Certificate, the Department of Planning and Investment shall decide to revoke the Investment Registration Certificate.