Needs to adjust investment projects.

Foreign enterprises operating in Vietnam will have some changes in investment plans when they are growing. These changes have to be registered by adjusting investment certificates.

The changes include:

• Change of information, the representative, address and passport information of the investor.
• Change of the address of the enterprise’s headquarter.
• Change of the content of the project.
• Change of investment project name.
• Change of the objectives of the project: adding production targets. Adding import and export rights; and rights to distribute goods.
• Change of the scale of the project.
• Changing and adding the location of the project. Increasing and decreasing the acre of the project.
• Increasing capital, reducing the total investment capital of the project.
• Increasing capital, reducing contributed capital for project implementation.
• Extending the progress of capital contribution.
• Stretching the project implementation schedule.

A dossier for adjusting investment certificates

A dossier for carrying out procedures for adjusting investment registration certificates in cases where investment policy decisions are not required includes:

• A written request for adjustment of the Certificate of Investment Registration.
• A report on project execution up to the date of requirement for project adjustment.
• A decision of investors on investment project adjustment.
• If investor is an individual: a copy of ID card or passport. If investor is an organization: a copy of the Certificate of establishment or equivalent paper which can certify the legal status.
• For the legal representative of the business: a copy of passport, temporary residence card or certificate of temporary residence.
• Investment proposal, which specifies investor(s) in the project, investment objectives, investment scale, investment capital, method of capital rising, location and duration of investment, labor demand, request for investment incentives, assessment of socio-economic effects of the project.
• Copies of any of the following documents:
• Financial statement of the last two years of the investor.
• Financial support commitment of the parent company.
• Financial support commitment of a financial institution.
• Guarantee for investor’s financial capacity.
• Description of investor’s financial capacity.
• In case of changing the head office, the related documents have to be provided: Office lease agreement, a notarized copy of proof of lessor’s right (certificates of land use rights, construction permit, a business registration certificate with the function of the lessor’s real estate business or an equivalent document).
• In case of changing the investment capital: a bank confirmation for capital account proving that the company has contributed sufficient capital (If the financial statements do not indicate that the company has fully contributed capital), Bank confirmation or documents proving the additional capital contribution.
• In case of changing the legal representative: Notarized passport, confirmation of residence / notarized temporary residence card of the new legal representative.
• In case of changing investor’s information, the investor’s representative: a notarized copy of the new business registration certificate, new passport or documents showing new information / proving the change of information.

Procedures for adjustment of the Certificate of Investment

According to the Law on Investment, Decree No. 118/2015 (providing detailed guidelines for the Law on Investment), Circular No. 16/2015/TT-BKHĐT (regulations on application forms for investment procedures and reporting forms on investment in Vietnam), the procedures for adjustment of the Certificate of Investment Registration in Vietnam include the following steps:

• Step 1: Performing the procedures for adjustment and issuance of the Certificate of Investment Registration (for the old investment projects) according to the Law on Investment.
• Step 2: Changing the related content on the certificate of enterprise registration.
• Step 3: Publishing the enterprise’s information on the National Business Registration Portal.
• Step 4: Adjusting or granting a new business registration license: Applies only to businesses that add business lines that exercise the right to distribute goods.

Notice:

• The enterprises that have not completed the procedures for splitting the investment certificate into the certificate of enterprise registration must separate the investment certificate, re-issue the legal seal, and publish the seal sample of the enterprise.
• The enterprises whose names are changed must have the company seal engraved and published on the National Business Registration Portal.