AUTHORITY | Ministry of Planning and Investment - MPI. |
PROCEDURE |
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| Step 1: | The investor declares information about the application file for adjustment of the Outward IRC on the National Investment Information System; |
Step 2: | The investor submits the application for adjustment of the Outward IRC at MPI; |
Step 3: | MPI checks the validity of records; |
Step 4: | MPI collects opinions in writing from the State Bank of Vietnam (only for cases where capital in foreign currency is transferred abroad equivalent to 20 billion VND or more); |
Step 5: | The State Bank of Vietnam shall send a written reply to MPI (only in case the capital amount in foreign currency transferred abroad is equivalent to VND 20 billion or more); |
Step 6: | MPI returns results to individuals/organizations. |
SUBMISSION OF DOSSIER | Directly at the Ministry of Planning and Investment. |
DOSSIER |
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| Number: | 03 (three) dossier sets, including 01 (one) original set. |
Elements: | 1. A written request for adjustment of the outward Investment Registration Certificate; |
2. Documentation of investor's legal status; |
3. Report on the operation of the investment project up to the time of submitting the adjustment dossier; |
4. Decision on adjustment of outward investment activities according to Article 59 or documents specified at Point e, Clause 1, Article 57 of the Law on Investment; |
5. A copy of the certificate of registration of outward investment; |
6. A document of the tax authority certifying the fulfillment of tax payment obligation in case of adjustment to increase in outward investment capital. The time of certification by the tax authority is not more than 03 months from the date of submission of investment project dossiers; |
7. Commitment to self-balancing foreign currency sources or a written commitment to arrange foreign currency for investors of an authorized credit institution. In case the investor chooses to submit a written commitment to arrange foreign currency by themselves, it must be enclosed with a document from a credit institution certifying the investor's foreign currency account balance; |
8. Documents determining the form of outward investment; |
9. Documents certifying the location of the outward investment project. |
ADMINISTRATIVE FEES | None. |
DURATION | 15 days from the date of submission of valid documents. |
SUBJECT | The investor investing in the project is not subject to the decision on investment policy. |
RESULT | Valid dossier: The outward investment registration has been adjusted; |
Invalid dossier: Notice of completion of application/rejection of ERC adjustment. |
LEGAL BASIS | Law on Investment 2020; |
Decree 31/2021/ND-CP detailing and guiding the implementation of a number of articles of the Law on investment. |