Offshore direct investment made from Vietnam

Hi DMS Law firm in Da Nang, Vietnam! Can you advise, supply services on legal procedures for Vietnam-based companies, Vietnamese investors to make outbound direct investment to a company based in a foreign country ?

Hi! 

Offshore direct investment made by Vietnamese investors:

Vietnamese investors may purchase of all or part of the charter capital of an offshore economic organization to participate in management and conduct business investment activities in a foreign country (Point c Clause 1 Article 52 Law on Investment No. 67/2014/QH13 dated November 26, 2014);

The investor is responsible for making capital contribution and raising other sources of capital to conduct offshore investment activities. Borrowings of capital in foreign currency or transfer of investment capital in foreign currency must comply with the conditions and procedures stipulated in the law on banking, on credit institutions or on control of foreign exchange (Clause 1 Article 53 Law on Investment No. 67/2014/QH13 dated November 26, 2014);

Procedures for issuance of offshore Investment registration Certificate (IRC) shall include:

Written registration for offshore investment;

Copy of ID card or passport in the case of investors being an individual; copy of the incorporation certificate or other equivalent document certifying the legal status in the case of investors being an organization;

Offshore investment decision prescribed in articles 57.1 and 57.2 of this Law;

Written undertaking to itself-balancce of foreign currency or written undertaking to balance foreign currency from an authorized credit institution for the investor prescribed in Clause 3 Article 58 of this Law;

Within a time-limit of fifteen (15) days from the date of receipt of the file prescribed in Clause 1 of this Article, the Ministry of Planning and Investment shall issue an offshore IRC. Where it refuses to issue an offshore IRC, it must notify the investor in writing and specify the reason therefor (Clauses 2, 3 Article 59 Law on Investment No. 67/2014/QH13 dated November 26, 2014);

Transactions for remittance of money overseas from Vietnam and into Vietnam relating to offshore investment activities must be conducted through a separate capital account opened at an authorized credit institution in Vietnam and must be registered at the State Bank of Vietnam in accordance with the law on control of foreign exchange (Article 63 Law on Investment No. 67/2014/QH13 dated November 26, 2014).

Remittance of investment capital overseas:

Investors are permitted to remit overseas investment capital in order to conduct investment activities upon satisfaction of the following conditions:

They have been issued with an offshore IRC, except for the cases prescribed in Clause 3 of this Article;

Their investment activities have been approved or licensed by the competent agency of the investment recipient country;

They have a capital account prescribed in Article 63 of this Law (Clause 1 Article 64 Law on Investment No. 67/2014/QH13 dated November 26, 2014).

Opening of the direct investment capital account:

After being issued with the Certificate for offshore investment, the investor shall open 01 (one) account of direct investment capital at a licensed credit institution and register with the State Bank or State Bank branch in province, city in accordance with regulations in Chapter III of this Circular (Clause 1 Article 4 Circular No. 36/2013/TT-NHNN dated December 31, 2013).

Consulting Services:

Phone: 0914 165 703 or Email: dmslawfirm@gmail.com 

Outbound direct investment made by Vietnamese investors