When a foreign investor enters Vietnam to invest in a project, they must carry out procedures to apply for an Investment Registration Certificate (IRC). However, before carrying out the procedures to apply for an Investment Registration Certificate, in some cases the investor must register the investment policy under the authority of the Prime Minister or provincial People’s Committee.
Establish enterprises with 100% foreign capital
Step 02: Apply for an Investment Registration Certificate for a company with 100% foreign capital
A. In the following cases, the investor must carry out the procedures for applying for an Investment Registration Certificate
Investment projects of foreign investors; Investment projects of economic organizations as the follow:
- (a) Over 50% of its charter capital or more is held by a foreign investor(s) or the majority of the general partners are foreigners if the business entity is a partnership;
- (b) Over 50% of its charter capital or more is held by a business entity(ies) mentioned in Point a of this Clause;
- (c) Over 50% of its charter capital or more is held by a foreign investor(s) and a business entity(ies) mentioned in Point a of this Clause.
B. Dossier for issuance of Investment Registration Certificate for 100% foreign owned company
- A written request for the implementation of the investment project;
- For individual investors: Copy of identity card, identity card or passport; For institutional investors: copy of Certificate of Establishment or other equivalent document certifying legal status;
- Investment project proposal, including the following contents: investor implementing the project, investment objectives, investment scale, investment capital and capital mobilization plan, location, duration, and investment schedule investment, labor demand, proposal for investment incentives, assessment of the project’s socio-economic impact and efficiency;
- Copy of one of the following documents: Financial statement The last 2 years of the investor or the parent company’s commitment to financial support or the financial institution’s commitment to financial support or the guarantee of financial support. financial capacity of the investor or Document explaining the financial capacity of the investor;
- Proposed demand for land use; In case the project does not request the State to allocate or lease land or permit the change of land use purpose, a copy of the location lease agreement or other document certifying that the investor has the right to use the site for implementation. current investment project;
- Explain on the use of technology, including the following contents: technology name, technology origin, technological process diagram; Main technical parameters, usage status of main machinery, equipment and technological lines for projects using technologies on the List of technologies restricted from transfer
- BCC contract for investment projects in the form of BCC contract.
C. Place of application submission
- If the company is located in an industrial park, it is Management board of industrial zones.
- If the company is located outside the industrial park, it is Department of External Economic Relations – Provincial Department of Planning and Investment.
D. Time to issue Investment Registration Certificate for 100% foreign owned company
- For investment projects that are not subject to decision on investment policies: 15-20 working days from the date of receipt of complete dossiers.
- For investment projects subject to investment policy decision: 05 – 10 working days from the date of receipt of the decision on investment policy.