Conditions for issuance of Certificate of investment registration abroad

1. What is overseas investment?

Pursuant to Clause 13 of Article 3 of the Investment Law 2020, overseas investment activities are the process in which investors transfer investment capital from Vietnam to foreign countries, then use profits earned from investment capital. this investment to carry out business activities in that country. This is a form of global business investment, expanding the operations of a company or investor beyond borders to exploit and develop new business opportunities.

2. Investors carry out investment activities abroad

Investors carrying out investment activities abroad include:

• Enterprises must be established and operate according to the provisions of the Enterprise Law and Investment Law.
• Cooperatives and cooperative unions must be established and operate according to the provisions of the Cooperative Law.
• Credit institutions must be established and operate according to the provisions of the Law on Credit Institutions.
• Business households must be registered according to Vietnamese law.
• Individuals with Vietnamese nationality (except for the cases specified in Clause 2, Article 17 of the Enterprise Law).
• Other organizations must conduct business investment in accordance with Vietnamese law

3. Professions prohibited from investing abroad

According to the provisions of Article 53 of the Investment Law 2020, industries and occupations banned from foreign investment are detailed as follows:

• Prohibited business and investment sectors are specified in Article 6 of the Investment Law and relevant international agreements.
• Industries and professions related to technology or products banned from export according to the provisions of foreign trade management law.
• Business and investment sectors are prohibited according to the laws of the receiving country.

Sectors and professions are prohibited from investing abroad to ensure security, national defense, national interests and compliance with Vietnam’s international regulations and commitments. This regulation is intended to ensure that overseas investment activities do not violate legal regulations nor cause negative impacts on the country receiving the investment.

4. Conditional overseas investment sectors

Pursuant to Clause 1 of Article 54 of the Investment Law 2020, conditional sectors and professions for overseas investment include:

• Banking: Activities related to financial operations, payments, and other banking services.
• Insurance: Activities related to insurance and related services.
• Securities: Activities related to securities and the stock market.
• Press, radio, television: Activities related to publishing, communication and traditional or online media services.
• Real estate business: Activities related to buying, selling, leasing, real estate management and related services.

Conditional overseas investment industries and occupations require special attention and compliance with legal regulations to ensure investors’ rights and protect national interests. These conditions are intended to ensure that investment activities meet the professional, technological, financial, and security requirements of that field, and do not negatively affect the financial system or national security. family, and public interest.

5. Conditions for issuance of Certificate of investment registration abroad

According to Vietnamese law, overseas investment activities are strictly managed to ensure efficiency, in accordance with foreign economic policies, as well as protect the rights of Vietnamese investors. . The issuance of the Certificate of overseas investment registration is prescribed in Article 60 of the Investment Law 2020, with the following specific conditions:

– Investment activities abroad are consistent with the principles of implementing investment activities abroad

– Not belonging to industries and occupations prohibited from investing abroad and meeting the conditions for investing abroad for industries and occupations subject to conditional investment abroad.

– Investors have a commitment to arrange foreign currency themselves or have a commitment to arrange foreign currency to carry out investment activities abroad through licensed credit institutions.

– There is a decision to invest abroad.

– There is a document from the tax authority confirming the investor’s fulfillment of tax obligations. The time of confirmation by the tax authority is no more than 03 months from the date of submitting the investment project dossier.

6. Procedures for issuance of Certificate of investment registration abroad

For investment projects subject to approval of overseas investment policy, the Ministry of Planning and Investment shall issue the Certificate of overseas investment registration to the investor within 05 working days from the date of issuance. Receive written approval of investment policy and decide to invest abroad.

For investment projects that do not fall into the above cases, the investor submits an application for an Outward Investment Registration Certificate to the Ministry of Planning and Investment. Profile includes:

– Document for registration of investment abroad;

– Documents on the investor’s legal status;

– Deciding to invest abroad;

– Written commitment to self-balance foreign currency sources or written commitment to arrange foreign currency for investors of a licensed credit institution;

– For overseas investment projects in conditional sectors and industries with overseas investment, the investor must submit a written approval from a competent state agency on meeting the conditions for investing abroad. in accordance with relevant laws (if any).

In case the capital in foreign currency transferred abroad is equivalent to 20 billion VND or more, the Ministry of Planning and Investment obtains written opinions from the State Bank of Vietnam.

Within 15 days from the date of receipt of the above dossier, the Ministry of Planning and Investment shall issue the Certificate of overseas investment registration; In case of refusal to issue an Outward Investment Registration Certificate, the investor must be notified in writing and clearly state the reason.

In short, Issuing an Outward Investment Registration Certificate is a strict process, requiring investors to fully meet the legal, financial and social conditions according to the provisions of Vietnamese law. Investors need to strictly comply with these regulations to ensure transparency and efficiency in international investment activities. At the same time, properly implementing legal procedures not only helps businesses limit risks but also enhances reputation in the international market.

7. About Us, Hankuk Law Firm

■ Hankuk Law Firm – Introduction

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