Procedures for adjusting Investment Certificate (IRC) in Ho Chi Minh City

Currently, Ho Chi Minh City has many foreign invested companies. Along with a large number of companies, the need to adjust Investment Certificates during the business process of these companies constantly increased. However, many foreign investors have difficulty carrying out procedures to adjust investment registration certificates in Ho Chi Minh City due to not clearly understanding the legal regulations. Viet An Law Firm would like to advise in detail on the procedures for adjusting investment certificate in Ho Chi Minh City to support foreign investors quickly and accurately.

Legal basis

• Law on Investment 2020;
• Decree No. 31/2021/ND-CP elaboration of some articles of the law on investment;
• Circular 03/2021/TT-BKHDT prescribing templates for documents and reports related to investment activities in Vietnam, outward investment activities, and investment promotion activities.

Procedures for adjusting investment certificate in Ho Chi Minh City

Where to apply

• Department of Planning and Investment of Ho Chi Minh City
• The Management Board of Ho Chi Minh City Export Processing and Industrial Zones for projects located in Ho Chi Minh City Export Processing and Industrial Zones.

Required cases to adjustment

When an investor changes one or more of the following contents, the investor needs to carry out procedures to adjust the investment certificate.

• Investor information: Name, address, email, phone number, website…;
• Name of investment project;
• Location of investment project implementation; Land area used for the project;
• Project objectives and scale;
• Investment capital of the project (including investors’ contributed capital and mobilized capital); progress of capital contribution and capital mobilization;
• Operational duration of the project;
• Project implementation progress, progress in achieving operational goals;

Dossier include

Investment projects without an investment policy decision

• An application form for adjustment;
• A report on the project’s progress by the time of business cooperation;
• A copy of the business cooperation contract;
• Copies of documents about the legal status of parties participating in business cooperation;
• A copy of the investment registration certificate or decision on approval for investment guidelines or decision on investor approval (if any) of the investor exercising the rights to use land and property on land which is part of the investment project for business cooperation;
• A copy of one of the following documents: the certificate of land use rights, certificate of certificate of ownership of houses and land use rights or certificate of land use rights, ownership of houses and other property on land;
• A copy of one of the following documents of the party participating in business cooperation: financial statements for the last 02 years or equity audit report of the investor, commitment of the parent company to provide financial support or commitment of a financial institution to provide financial support, guarantee for the investor’s financial capability or a document describing the investor’s financial capability.a) Văn bản đề nghị điều chỉnh dự án đầu tư;

Investment projects with a decision on investment policy

When adjusting an investment project related to objectives, investment location, main technology, increasing or decreasing investment capital by more than 10% of total investment capital, implementation deadline, changing investors or changing terms If there are any lawsuits against investors (if any), the investment registration agency shall carry out procedures to decide investment policies before adjusting the Investment Registration Certificate. Documentation procedures similar to investment registration procedures apply to the case of applying for investment policy approval.

Processing Time

The investment registration agency prints the application receipt from the System and gives it to the investor when applying.

In case the dossier is invalid, the Investment Registration Authority shall notify the invalid content in writing to the investor within 03 working days from the date of receipt of the dossier for the investor to amend or supplement. fig.

Within 10 working days from the date of receipt of complete documents as prescribed in Clause 2 of this Article, the investment registration agency shall adjust the Investment Registration Certificate; In case of refusal to adjust the Investment Registration Certificate, the investor must be notified in writing and clearly state the reason.

Investment Certificate adjustment service  in Ho Chi Minh City of Viet An Law Firm

Clients can refer to the Investment Certificate adjustment service provided by Viet An Law Firm:

• Advise clients on conditions, documents, and procedures for adjusting investment certificates;
• Drafting legal documents for businesses related to content adjusted according to legal regulations and information provided by businesses;
• Authorized representative of the client carries out procedures to adjust investment certificates at competent state agencies;
• Monitor the process of processing documents by competent state agencies, explain to state agencies on issues related to documents to adjust the Investment Certificate;
• Guide businesses to carry out legal procedures arising after adjusting investment certificates;
• Consulting on granting and adjusting relevant sub-licenses after adjusting the investment certificate for the enterprise;
• Consulting on procedures for changing the enterprise registration certificate after making adjustments to the investment certificate;
• Support legal issues arising during business activities for investors in Vietnam;
• Consulting on tax and accounting legal procedures for foreign-invested enterprises;

Above is the preliminary advice of Viet An Law Firm regarding procedures for adjusting Investment Certificate in Ho Chi Minh City. If you have any questions or need to use legal services, please contact Viet An Law directly for the most detailed advice and the best support.