One of the most important certificates for investment in Vietnam is the Investment Registration Certificate or IRC. It is a digital document and all the information about the registered investment project is stated in it. It is also a compulsory certificate for foreign investors when they own a minimum of 51% charter capital in the registered project.
If you need to change your Investment Registration Certificate, you can. This article discusses how you can do so. But before getting to this point, get to know how to make an investment in Vietnam first.
How to Make an Investment in Vietnam
It is not rocket science for foreigners to make an investment in Vietnam if you get the right assistance or advice. This section covers the available legal entities you can choose to do so.
1. Limited Liability Company or Joint-Stock Company
For foreigners wishing to establish concretely and expand effectively in Vietnam, the most common entities to build a solid presence are the limited liability company (LLC) and the joint-stock company (JSC).
You must register an investment project and obtain an Investment Registration Certificate in Vietnam before you can set up an LLC or a JSC.
You will first seek approval for your project and once the iInvestment Registration Certificate is issued, you can go ahead and set up your LLC or JSC.
2. Representative Office or Branch Office
Starting a representative office or a branch office in another way to invest in Vietnam. However, you can only perform certain activities with these legal structures and they are not a separate entity from their parent companies.
Learn which legal entity is best? Representative Office vs. Branch Office in Vietnam
3. Shelf Company
One of the easiest and simplest ways to make an investment in Vietnam is to buy a shelf company. You can operate your business immediately upon the completion of the purchase without the complex setup process.
4. Local (Nominee) Company
A local company consists of a professional director, professional shareholder, and professional commissioner, all are locals. This type of structure has also gained momentum in Vietnam as a popular option for foreigners to invest, particularly when the business categories that an investor chooses are closed to foreign investment.
Important Certificates for Your Investment in Vietnam
In addition to an Investment Registration Certificate in Vietnam, you will also need an Enterprise Registration Certificate to make an investment in the country.
Enterprise Registration Certificate, or ERC, is a certificate containing the enterprise registration information. An ERC can either be in hard copy or digital copy.
Can You Change Your Investment Registration Certificate?
Yes, you can change your investment registration certificate in Vietnam given that you fulfill the specified conditions. The procedure to change the certificate must be followed accordingly.
Condition and Procedure of Changing Your Investment Registration Certificate
In accordance with 2014 Investment Law and Decree No. 118/2015/ND-CP, investors can change or adjust the Investment Registration Certificate if it is necessary for them to increase the investment capital in Vietnam to expand their investment activities in the country.
The procedure of changing or adjusting the IRC is stated below:
1. Submit a written request for the change of the Investment Registration Certificate.
2. Submit a project execution report with a date until the date of adjustment.
3. Relevant authorities will decide on the certificate adjustment within 15 working days upon the receipt of a complete and valid dossier.
4. Other documents necessary for application include the following:
- A copy of passport or identity card
- A copy of establishment certificate
- An investment proposal
- A copy of each of the documents: parent company’s commitment for financial support, financial statements, financial institutions’ commitment for financial support, financial capacity description and guarantee
Consult with Cekindo
Cekindo’s business consulting services in Vietnam are delivered by a team of trusted professionals who are prepared to meet the specific needs of each client.
Depending on your investment plan in Vietnam, you may require different licenses that will have a significant impact on your business’s success – and an Investment Registration Certificate is one of those that are the most crucial.
To ensure that you successfully secure your Investment Registration Certificate in Vietnam, Cekindo will support you with our expert advice, market analysis, the latest regulatory guideline, and a hands-on mentality.
Our expertise will save you valuable time and energy by dealing with the paperwork on your behalf and offer you an overview of other possibilities that are available for your investment.
Learn more about how to get your Investment Registration Certificate in Vietnam. Fill in the form below.