Here we do not discuss the investment procedures for registration of capital contribution, share purchase, and purchase of contributed capital at other businesses out of the innovation of small and medium-sized enterprises and the innovation of start-up investment funds (“innovation business”), for those type of businesses, please refer to article Which instances an investor is required to carry out the registration procedures of making a capital contribution, a share purchase, or the purchase of contributed capital in an investment in Vietnam?
For encouraging investment in the innovation business, the Vietnamese Government has issued Decree 31/2021/ND-CP on 26 March, 2021, its took effect at the same date, supplementing the provisions in Article 67 of Law on Investment No.61/2020/QH14, procedures for establishment, making a capital contribution, conducting a share purchase, or purchasing contributed capital in the innovation business. Accordingly, foreign investors only need to complete the business registration procedures as same as domestic enterprise, without having to carry out the investment registration procedure.
An innovation of small and medium-sized enterprise is an enterprise established to implement an idea on the basis of exploiting intellectual property, technology, and a new and fast-growing business model.
An Innovation of start-up investment fund is an investment fund formed from capital contributions of private investors to invest into the innovation of small and medium-sized enterprises.
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