What is Investment Registration Certification (IRC)?

Do foreigners doing business in Vietnam need to apply for an Investment Registration Certificate? Luat Phuc Cau will answer the issues related to the Investment Registration Certificate for you in the article below.

1.What is an investment certificate?

An operation license is granted by a competent agency to organizations and individuals when establishing a foreign company in Vietnam, in cases where it is required by law to carry out procedures for applying for an investment certificate before establishing an enterprise.

2.Cases of application for the investment registration certificate

According to the Law on Investment 2020, foreign individuals and organizations in one of the following cases must apply for an investment registration certificate:

“Art. 23: Conduct of investment activities by foreign-invested business entities

1.When establishing a business entity, when investing by contributing capital, purchasing shares, or purchasing stakes of a business entity, or when making investment under a business cooperation contract in one of the following cases, the foreign investor must satisfy the conditions and follow investment procedures applied to foreign investors:

a) Over 50% of its charter capital or more is held by a foreign investor(s) or the majority of the general partners are foreigners if the business entity is a partnership;

b) Over 50% of its charter capital or more is held by a business entity(ies) mentioned in Point a of this Clause;

c) Over 50% of its charter capital or more is held by a foreign investor(s) and a business entity(ies) mentioned in Point a of this Clause.

3. Procedures for applying for investment registration certificates:

For investment projects subject to decisions on investment guidelines under the decision on investment guidelines of the National Assembly, the Prime Minister, provincial-level People’s Committees, investors need to send a written decision on investment guidelines to the investment registration authority.

DOCUMENTS INCLUDE:

– For individual investors: Copy of identity card, ID card, or passport

– For investors being organizations: copies of establishment certificates or other equivalent documents confirming legal conditions;

– Proposal of the investment project;

– Explanation of investor’s capital;

– A written proposal for land use demand;

– Explanations on the use of technology;

– BCC contract (for investment projects in the form of BCC).

IV: Our services:

It can be seen that the Vietnamese market is always open to foreign investors, but language barriers, customs as well as the legal system make it difficult for investors to carry out procedures when deciding to invest in Vietnam by the provisions of law. Understanding those difficulties, we provide 100% foreign capital business establishment service to customers.

Based on investor information, documents and requirements, we will:

– Consulting, analyzing, assessing the legality and conformity between the requirements of the investor’s work and the provisions of Vietnamese law, and finding feasible solutions for investors to choose and decide;

– Advising on the selection of models and organizational structure of the company management;

– To guide investors in preparing legal and financial papers;

– Drafting necessary documents to complete the application for investment certificate;

– On the representative of the investor to apply for investment certificate, business registration certificate;

– Monitor the processing process and notify the results of submission of dossiers;

– Engraving and registration of seal samples for enterprises.

To avoid spending too much time determining conditions and preparing to proceed with the procedure for applying for an Investment Registration Certificate, use our services. We – confident with a team of experienced lawyers and experts, firmly grasping the provisions of the law – will be a reliable place for customers to entrust their work. Using our services, the client’s work will be guaranteed on a solid legal basis.

Please don’t hesitate to contact us if you require any further information!

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