Changing the business lines of foreign-invested companies in Vietnam

The business lines of foreign-invested companies are the information written on the Investment Registration Certificate as well as on the Business Registration Certificate or Business Information Changing Registration Certificate. Therefore, when changing business lines, business shall carry out procedures for changing/adjusting investment registration certificates and changing business registration certificates.

For foreign-invested companies established before July 1^st, 2015 has not changed the Investment Certificate.

For business that are using investment certificates issued before July 1, 2015 without granting changes, in addition to changing business lines, business must carry out procedures for granting (separation) to investment registration certificates and business registration certificates.

Procedures for changing the business lines of foreign-invested companies on the Business Registration Certificate

Dossier of foreign-invested company’s business lines changing on the Business Registration Certificate

• Notice of change in business registration contents (encryption business lines according to business lines code level 4 Vietnam economic business lines system);
• Minutes on the change of business lines (of the Board of Directors of Joint Stock Company, The Board of Members of a limited company with two or more members…);
• Decisions on changing the company’s business lines;
• A request for publication of the contents of business registration on the National Business Portal;
• A copy of the investment registration certificate recognizing the additional business lines;
• A power of attorney for Viet An Law Firm.

Order of procedures for changing the business lines of foreign-invested companies

Step 1: Viet An Law will advise and guide customers to prepare documents in accordance with the law.

Step 2: Viet An represents customers to submit applications, keep track the progress and receive results at the business registration office.

Step 3: After receiving business registration, the business will carry out procedures for disclosure of information on the National Business Registration Portal.

Implementation time

The time for completing the registration procedure for business changes in the Business Registration Certificate is about 3-5 working days.

Procedures for changing the business lines of foreign-invested companies on investment certificates

Note on the change/adjustment of the Investment Certificate

• If the business is still using the old investment certificate form (not yet issued), the business will conduct the procedure of issuing the change to the new investment registration certificate and change.
• According to Decree No.31/2021/ND-CP guiding the Investment Law 2020, investment projects must carry out procedures for changes to conditional business lines, for occupations without conditions, business are not required to make additional provisions. However, in practice, when business expand their business lines, they should still supplement their industries as prescribed.

Dossier of change of foreign-invested company’s business lines on investment certificate

• The registration/request for adjustment of the Investment Certificate;
• Decisions and Minutes of meetings on the addition of business lines (of the Owner of the Company or the Member Council or the Chairman of the Company for 1-member Limited Liability Company; of the Company’s Member Council for a Limited Liability Company with two or more members; of the Board of Directors for a Joint Stock Company; of the partnership members for the Company partnership).
• The explanation of the ability to meet the conditions that the investment project must meet in accordance with the provisions of law for projects in the field of conditional investment;
• Economic and technical explanation includes the main contents: objectives, scale, investment location; investment capital; progress of the project; land use needs; solutions for technology and environmental solutions; (for projects with an investment capital of VND 300 billion or more and not in the field of conditional investment).)
• Notarized copy of investment certificate.
• Appendix to amend the business charter.
• Report on the implementation of the project of the business to the time of proposing changes.
• A power of attorney for Viet An Law Firm.

Order of procedures for making changes to investment certificates

Viet An will represent customers to submit dossiers, monitor progress, explain when requested and receive results at the Investment Registration Agency in accordance with the law.

Implementation time

The time for adjusting the Investment Registration Certificate is about 30-40 working days depending on the conditions of the additional registration business lines and the actual capacity of the investor.

If you have any difficulties in the process of changing the business registration business lines of a foreign-invested company, please contact Viet An Law Firm for advice and guidance on drafting documents in a specific way.