Vietnam investment registration procedure usually goes throughs the periods of which are, the procedure to obtain an investment registration certificate and the procedure to obtain the enterprise registration certificate or a certificate of registration of capital contribution or purchase of shares, and purchase of contributed capital (herein after called “investment registration procedure”).
Depending on the scale and scope of the project’s impact, the projects with significant impacts on the environment, people and national security, foreign investors must complete the registration procedure for the In-principle Approval to the project either at National Assembly, Prime Minister, or Provincial People’s Committee before carrying out the investment registration procedure. The authority to issue In-principle Approval will rely on the scale and scope of the impact of each project, according to the provisions of Article 30, Article 31, Article 32, Investment Law 61/2020/QH14, which including the main groups as following:
- Projects have a significant impact or have the potential impact on the environment;
- Projects with large-scale change of land use purpose, large-scale migration and resettlement;
- Projects requires the State approval to allocate or lease land;
- Infrastructure development projects, urban areas, residential areas, industrial parks, high-tech zone;
- Projects in some conditional business sectors, such as, oil and gas processing, betting business, casino, telecommunications service, publishing, journalism, golf;
- Projects implemented in areas effecting national defense and security.
Investment projects needs to conform to the master plan approved by the Government from time to time. The processing time to issue the In-principle Approval vary on the numbers of state agencies that need to be consulted.
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Note: This article is for informational purposes only and it is not a legal advice. The content of the article represents the personal opinion of TTVN Legal, it subject to change without prior notice.