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The investment registration procedures are mandatory for foreign investors who wish to start business activities in Vietnam. Currently, Vietnam has many forms of investment, each with its own set of procedures and regulations. So, how can one register for investment in Vietnam? What are the investment procedures in Vietnam? What sectors are foreign investors allowed to invest in? LHB Law Firm will outline the legal issues related to investment procedures in the article below. For clients needing advice on investment procedures, please contact LHB Law Firm via Hotline +84.969.088.118 (Zalo) for legal consultation and support.
MỤC LỤC
- 1 Sectors permitted for investment and business in Vietnam.
- 2 Forms of investment in Vietnam.
- 3 Investment and Business Licenses in Vietnam
- 4 Investment Procedure and Process in Vietnam:
- 5 Extension, modification, and termination of investment in Vietnam.
- 6 Lawyers assisting with investment and business activities in Vietnam.
- 7 Legal fees in Vietnam.
Sectors permitted for investment and business in Vietnam.
According to the law, investors are allowed to conduct business in sectors and fields that are not prohibited by law. Currently, the sectors and fields prohibited for business and investment in Vietnam include:
- Trading in narcotic substances as prescribed by law;
- Trading in minerals and mineral resources as prescribed by law;
- Trading in specimens of wild plant and animal species originating from nature as stipulated by the Convention on International Trade in Endangered Species of Wild Fauna and Flora; specimens of endangered, precious, and rare forest plants, forest animals, and aquatic species originating from nature as prescribed by law;
- Prostitution;
- Buying, selling of humans, human tissues, bodies, body parts, or human fetuses;
- Business activities related to human cloning;
- Trading in explosive fireworks;
- Debt collection services.
In addition to the sectors prohibited for investment and business, the law also stipulates conditional investment and business sectors. Conditional investment and business sectors are those in which investment and business activities must meet necessary conditions for reasons of national defense, national security, social order and safety, social ethics, or public health. For conditional investment and business sectors, investors must obtain a business license before starting production or business activities.
Forms of investment in Vietnam.
According to the law, the current forms of investment include:
- Investment in Establishing Economic Organizations: This is an investment form involving the establishment of a production and business organization with legal status according to Vietnamese law.
- Investment in Capital Contributions, Share Purchases, and Equity Contributions: This is an indirect form of investment by foreign investors. It is carried out through the purchase of shares, bonds, or equity contributions. Depending on the number of shares or equity contributions, the investor decides whether to manage the investment directly.
- Executing Investment Projects: Investment projects involve investing capital to carry out business activities in a specific area within a determined timeframe. Investors can either start new investment projects or participate in existing ones.
- Investment under BCC Contracts: This investment form involves agreements between investors to cooperate in business and share profits without establishing a new legal entity. It is a quick investment form that avoids the time and cost of creating and managing a new legal entity.
- Investment Forms and New Economic Organization Types According to Government Regulations.
Investors need to identify and choose the appropriate investment form based on their own capabilities and actual needs.
Contact to LHB Law Firm via Hotline +84.969.088.118 (Zalo).
Investment and Business Licenses in Vietnam
In Vietnam, the license that allows foreign investors to invest and do business in the country is the Investment Registration Certificate. This license is issued by the investment registration authority. The Investment Registration Certificate is a document, either in paper or electronic form, that records the investor’s registration information about their investment project. The Investment Registration Certificate includes the following main contents:
- Project Name: The name of the investment project.
- Investor: The name of the investor.
- Investment Project Code: The code assigned to the investment project.
- Project Location and Land Area: The location where the investment project will be carried out and the area of land used.
- Objectives and Scale: The goals and scale of the investment project.
- Investment Capital: The total investment amount, including the investor’s own capital and any raised funds.
- Project Duration: The operational period of the investment project.
- Project Implementation Progress: This includes:
- Capital Contribution and Fundraising Schedule: The timeline for contributing capital and raising funds.
- Implementation Phases: If the project is divided into phases, the progress for each phase must be specified.
- Incentives and Support: Any investment incentives or support provided, along with the basis and conditions for their application (if applicable).
- Conditions for the Investor: Any specific conditions that the investor must meet for implementing the project (if applicable).
If there are any changes during the implementation of the investment project, the investor must register these changes with the Investment Registration Certificate.
Contact to LHB Law Firm via Hotline +84.969.088.118 (Zalo).
Investment Procedure and Process in Vietnam:
The following cases do not require the procedure for obtaining an Investment Registration Certificate:
- Investment projects by foreign investors;
- Investment projects by economic organizations with over 50% foreign capital;
The following cases do not require the procedure for obtaining an Investment Registration Certificate:
- Investment projects by domestic investors;
- Investment projects by economic organizations with less than 50% foreign capital;
- Investment in the form of capital contributions, share purchases, or equity purchases in economic organizations.
For projects that require investment policy approval, investors must first obtain investment policy approval. Currently, there are three authorities in Vietnam that have the authority to approve investment policies: the National Assembly, the Prime Minister, and the provincial People’s Committee. After the investment policy is approved, the investment registration authority will issue an Investment Registration Certificate.
For projects that do not require investment policy approval, investors will be issued an Investment Registration Certificate when they meet the following conditions:
- The investment project does not fall into the prohibited business investment sectors;
- The project has an identified location for implementation;The investment project is in line with the planning;
- The project meets the conditions for investment capital per land area, and the number of employees used (if any);
- The project meets the market access conditions for foreign investors.
Extension, modification, and termination of investment in Vietnam.
When the investment period expires, the investor can apply for an extension of the investment project. The extended investment project must comply with legal regulations. The extension of the investment project must not exceed the maximum period prescribed by law for the operation duration of the investment project.
During the implementation of the investment project, the investor has the right to adjust the objectives, transfer part or all of the investment project, merge projects, or split a project into multiple projects, use the land use rights and assets on the land of the investment project to contribute capital to establish enterprises, engage in business cooperation, or other activities in accordance with the law. The investor must carry out procedures to adjust the Investment Registration Certificate in case the adjustment of the investment project changes the contents of the Investment Registration Certificate.
The investor terminates the operation of the investment project in the following cases:
- The investor decides to terminate the operation of the investment project;
- According to the conditions for termination of operation stipulated in the contract or the enterprise’s charter;
- Upon the expiration of the operation period of the investment project.
The investment registration authority will terminate or partially terminate the investment project upon discovering violations during the licensing process or the implementation of the investment project.
Contact to LHB Law Firm Lawyer via Hotline +84.969.088.118 (Zalo).
Lawyers assisting with investment and business activities in Vietnam.
LHB Law Firm is a reputable legal entity in Vietnam. With a team of highly specialized and experienced lawyers and legal professionals, we are confident in our ability to resolve the issues our clients face. With a network of offices across the country, we can provide legal services throughout all 63 provinces and cities. Over the years, we have consistently received positive feedback from our clients. This not only brings us joy but also motivates LHB Law Firm to continue its further development.
Currently, LHB Law Firm offers a wide range of investment services such as:
- Consulting on investment conditions, permitted investment and business sectors in Vietnam;
- Advising on suitable investment forms for each investor;
- Applying for Investment Registration Certificates in Vietnam;
- Handling procedures for changes, extensions, adjustments, and termination of investment projects;
- Consulting on preparing documents and paperwork for investment permits in Vietnam;
- Legal due diligence for investment projects.
LHB Law Firm is pleased to provide legal support for investment to our clients. With the assistance of LHB Law Firm, clients can be assured of legal safety when implementing their investment projects.
Contact to LHB Law Firm Lawyer via Hotline +84.969.088.118 (Zalo).
Legal fees in Vietnam.
Currently, LHB Law Firm offers a wide range of legal services nationwide. The investment lawyer fees at LHB Law Firm are as follows:
| INVESTMENT LAWYER SERVICES FEES IN VIETNAM | ||
| NO | SERVICES | FEE |
| 1 | Receiving information and guiding legal procedures | Free |
| 2 | Direct or telephone consultations with a lawyer | 50 USD/hour |
| 3 | Written legal advice | From 100 USD/hour |
| 4 | Consulting on investment conditions in Vietnam | Negotiated fees |
| 5 | Consulting on investment permit application documents | Negotiated fees |
| 6 | Regular business consulting by a lawyer | Negotiated fees |
| 7 | Applying for an Investment Registration Certificate in Vietnam | Negotiated fees |
| 8 | Procedures for extending, adjusting, or terminating an investment project | Negotiated fees |
| 9 | Lawyer conducting due diligence on investment projects | Negotiated fees |
| 10 | Consulting on tax incentives and investment incentives in Vietnam | Negotiated fees |
Investors seeking legal advice on investment are kindly requested to contact LHB Law Firm via Hotline +84.969.088.118 (Zalo). LHB Law Firm is always ready to serve clients with the highest quality of service.
Best regards!
