Getting Investment Registration Certificate (IRC) for Investment Project in Vietnam in 2021. Investment Project under Investment Law 2021 is a collection of proposals for the expenditure of mid-term or long-term capital to carry out investment activities in a particular administrative division over a certain period of time.

Before implementing the project, the investor must be approved and granted an Investment Registration Certificate by a competent authority. Below are the order and procedures for applying for an investment registration certificate for a foreign investment project, one of the five foreign investment forms under Investment Law 2021.

Procedures for granting investment registration certificate

Step 1: Submit your application

Investors: declare online information about the investment project and get the declaration code on the National Business Registration Portal at one of two links: (i) http://fdi.gov.vn; or (ii) https://vietnaminvest.gov.vn/SitePages/home.aspx.

Then submit the application at the dossier-receiving and result-delivering section. Within 15 working days from the date of online declaration, the Department receives the application receipt and grants the results.

Step 2: Process the application

– The specialized department accepts and considers the validity of the dossier;

– Submit to the head of the Department for approval of the result of handling the dossier.

Step 3: Grant the result

The investor receives the result, an investment registration certificate for a foreign investment project, at the dossier-receiving and result-delivering section.

Required documents

A dossier for registration of a foreign investment project includes:

1. A written request for implementation of the investment project;
2. Copies of identity papers (for individual investors) and copies of Enterprise Registration Certificate or equivalent document (for institutional investors);
3. Investment project proposal, including:

(i) Investor information;

(ii) Investment objective;

(iii) Investment scale;

(iv) Investment capital;

(v) Capital mobilization plan;

(vi) Investment location;

(vii) Implementation period;

(viii) Investment progress;

(ix) Labor demand;

(x) Proposal to grant investment incentives;

(xi) Environmental Impact Assessment;

(xii) Socio-economic efficiency of the project.

4. Copies of the following documents:

• Financial statements for the last 2 years of investors; or
• Commitment to the financial support of the parent company; or
• Commitment to the financial support of financial institutions, a guarantee of investors’ financial capacity; or
• Documents explaining the investor’s financial capacity.

5. Proposing land use demand; or a copy of the venue rental agreement; or documents certifying that the investor has the right to use the land to carry out the investment project.
6. Explanation of technology use (for projects using technology restricted from the transfer as prescribed by law)
7. BCC contract (for investment projects in the form of BCC contract)

Number of dossiers: 01

Processing time: 10 working days from the date of receiving valid dossiers.

Receiving agency: Department of Planning and Investment.

Fees: no.

Read more about: Investment topic (Investment forms; getting IRC…) and topic on enterprises… on website inalaw.net.

To carry out investment procedures and establish FDI enterprises, please contact INA law firm’s office. Lawyer Nguyen Trung Nam’s number: 0979.05.05.35. Email: info@inalaw.net