In the current globalization trend, our country encourages investors to invest abroad to learn, develop and expand markets; Improve the ability to export goods and services, earn foreign exchange, absorb modern technology, improve management capacity, and supplement resources for the country’s economic and social development. To support businesses in handling foreign investment procedures and Apply for a license to invest abroad.

1. In what cases must I apply for a license to invest abroad?

Currently, according to the provisions of the Law on Investment 2020, investors who carry out investment activities abroad must apply for an investment license. This activity will be carried out through applying for an Overseas Investment Registration Certificate (Applying for an Overseas Investment License, specifically including:

– Enterprises and companies are  established and operate according to the provisions of the Enterprise Law and the Investment Law;

– Cooperatives (Cooperatives), unions of cooperatives (LHHTX) are established and operate according to the provisions of the Law on Cooperatives;

– Credit institutions (CIs) established and operating according to the provisions of the Law on Credit Institutions;

– Household business (HKD) registered in accordance with Vietnamese law;

– Individuals with Vietnamese nationality, except for the cases specified in Clause 2, Article 17 of the 2020 Law on Enterprises;

– Other organizations carrying out business investment in accordance with Vietnamese law.

However, there are some cases that need to be noted: for some investment projects, before being granted an investment license abroad, investors need to apply for approval of the investment policy at the competent State agency. permission. Specifically:

– The National Assembly (NA) accepts the policy of investing abroad with investment projects:

• From 20,000 billion VND or more for investment projects with foreign investment capital
• Investment projects that require the application of special policies and mechanisms need to be decided by the National Assembly.

– The Prime Minister (TTgCP) approved the policy of investing abroad with the following investment projects:

+ Projects with foreign investment capital of 400 billion VND or more in the fields of banking, insurance, securities, television, journalism, radio, and telecommunications

+ Investment projects that do not fall into the above cases but have foreign investment capital of VND 800 billion or more.

2. What industries are allowed to invest abroad?

When carrying out procedures for applying for an investment license abroad, investors must first note that they are not allowed to invest abroad in industries that have been banned from investing abroad. These are often dangerous professions or for specific reasons, investors are not allowed to invest abroad. These occupations are regulated as follows:

– Prohibited business and investment industries are specified in the Investment Law and relevant international treaties.

– Industries and professions that have technologies and products that are banned from export according to the provisions of law on foreign trade management.

– Business and investment sectors are prohibited according to the laws of the receiving country.

In addition, investors also need to keep in mind that when carrying out investment procedures abroad, they need to meet the conditions for conditional industries. Conditional investment industries include:  Banking; Insurance; Stock; Press, radio and television; Real estate business.

3. Documents and procedures for applying for a foreign investment license

The economy is improving and the market is expanding not just in one country but around the world. For this reason, many businessmen have gone abroad and intend to settle there. However, investing abroad is more complicated than investing domestically due to difficulties in obtaining investment licenses and other legal issues. Therefore, we will present the documents and procedures for applying for an investment license abroad

Step 1: The investor submits the application for an Outward Investment Registration Certificate (overseas investment license) to the Ministry of Planning and Investment (Ministry of Planning and Investment), including the following documents.

Step 2: After receiving all documents, the Ministry of Planning and Investment will process the documents and issue the Certificate of Foreign Investment Registration to the NPI. The deadline for settlement is as follows:

– In the event that projects subject to foreign investment policy need to be accepted: the period is five (05) working days from the date of receiving the document of approval of the investment policy and decision on overseas investment, MPI will issue the Certificate of Overseas Investment Registration to the investor.

– In the case of projects that are not subject to acceptance of overseas investment policy: the deadline is fifteen (15) days from the date of receipt of valid dossiers, the Ministry of Planning and Investment shall issue a Certificate of registration of overseas investment to the investor. Case of Refusing to Issue a Certificate.

4. Where to apply for a foreign investment license?

With economic development, the desire to invest abroad is constantly increasing. However, the process of applying for an investment license and related legal issues are quite complicated. And many people still wonder where to apply for a foreign investment license? Which agency has the authority to grant a license in this case?

The Ministry of Planning and Investment is the competent authority to grant overseas investment licenses to investors in need.

5. When will the validity of the Overseas Investment Certificate expire?

In certain cases, the Certificate will be invalidated. as prescribed in the following cases:

• The investor (investor) decides to terminate the operation of his/her overseas investment project;
• The investment project has expired in accordance with the law of the receiving country;
• Based on the conditions for terminating operations as prescribed in the contract and charter of the enterprise;
• Investors transfer all investment capital abroad to foreign investors;
• The investor (investor) fails to carry out or is unable to carry out the investment project in accordance with the schedule registered with the state management agency. And also do not carry out procedures to adjust the progress of investment project implementation after 24 months have passed from the date of issuance of the investment certificate.
• The economic organization in the foreign country that receives the investment is dissolved or goes bankrupt according to the laws of that country.
• According to the decision or judgment of the Court or according to the arbitration award.

Above is all the information about investment licenses abroad at Luat va Ke toan Viet My which answers the question Where to apply for an investment license abroad?. If readers have any questions related to the above information, please contact our Company’s Helpline for quick and effective advice.

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