📙 Every organization and individual wishing to set up a foreign owned company in Vietnam in specific areas being considered as conditional investment shall need to conduct the procedure of applying for investment certificate as regulations of law.
✈️ Conditional investment sectors, regardless of domestic or foreign invested capital, and regardless of the scale of capital, must all be evaluated to be granted an IC. The same regulation applies to unconditional investment sectors having the amount of invested capital of over 300 million VND.
The investment certificate (IC) is a permit from the Vietnamese government so that a 100 % foreign company can cary on occupations in Vietnam.
According to the investment business lines, investment conditions, project size, location of the investment project, other Vietnamese State agencies would participate. Vietnam Ministry of Planning and Investment (MPI) is responsible for enacting legislation, guiding, consulting and coordinating with other State agencies about all investments in Vietnam. Foreign investors register for investment licenses at MPI as a point of contact. People’s Committee will be the government agency that manages investment activities in its city or province and will release investment licenses to the foreign investors. If a foreign investor conducts business in an industrial zone, the management committee of the industrial zone will have the power to control the investment licensing process.
With investment projects with capital exceeding 300 billion VND, a list of documents must be prepared:
✏️ Written request for issuance of an IC;
✏️ Documents certifying the legal status of the investor;
✏️ Report on the nancial capability of the investor;
✏️ Economic-technical explanatory statement containing the following major details: objectives; scale and location of the investment; investment capital; project execution progress; land use requirements; and technological and environmental solutions;
✏️ Business co-operation contract (if any).
With investment projects in the list of conditional investment sectors, in addition to the documents above, investors must also include an explanatory statement of ability to meet the conditions to which the investment projects are subject as provided for by law.
⏰ Where necessary, the evaluation process may take so long but must not exceed 45 days, after the date of receipt of a complete and valid dossier.
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