Tiếng Việt
Before a project transfer transaction takes place, the transferee should pay attention to whether the project has reach all the conditions for the transfer in accordance with the law or not.
Compared to the Investment Law No. 67/2014/QH13, the Investment Law No. 61/2020/QH14 has additional conditions, here, we point of view each condition as prescribed by regulations.
First, the transferred investment project or its part does not fall into the following cases of termination of operation:
Investors terminate investment activities, investment projects if (i) the investor decides to terminate the operation of the investment project, or (ii) according to the termination conditions specified in the contract, the enterprise’s charter, or (iii) the operation term of the investment project expires; Or in case the investment registration agency terminates or terminates a part of the operation of the project if (i) the investment project is suspended from operation and unable to overcome the conditions of cessation of operation, (ii) the investor is not allowed to continue using the investment location and does not carry out the procedures for adjusting the investment location within 06 months from the date of not being allowed to continue using the investment location, (iii) the investment project has ceased operation and within 12 months from the date of shutdown, the investment registration agency cannot contact the investor or the investor’s legal representative, (iv) the investment project is subject to land recovery due to failure to put the land into use, delay in putting the land into use according to the provisions of the law on land, (v) the investor does not deposit or does not guarantee the escrow obligation as prescribed by law for an investment project subject to the security of the implementation of the investment project, (vi) the investor conducts investment activities on the basis of a sham civil transaction, (vii) or terminated under the judgment, decision of the Court, arbitral award.
Second, foreign investors receiving the transferred investment projects or its part must satisfy the conditions of market access and the conditions of security and defense.
Third, the case of transfer of an investment project or its part is associated with the transfer of land use rights and land-attached assets, the transfer must satisfy the conditions prescribed by the law on land.
Fourth, in case of transfer of investment projects on housing construction or real estate projects, the transfer must comply with the conditions prescribed by the law on housing and the law on real estate business.
Fifth, Comply with the conditions specified in the written approval of the investment policy, the Certificate of investment registration or other relevant laws (if any).
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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 its own of TTVN Legal, it subject to change without prior notice.