Currently, Binh Duong is one of the largest industrial centers in the country. The whole province has 48 industrial zones and clusters total area accounting for ¼ of the industrial parks in the southern region. In addition, Binh Duong is continuing to expand more industrial zones. With the investment in infrastructure, modern utilities, and services, Binh Duong has attracted the attention of many domestic and foreign investors. The scale of the project in Binh Duong is currently ranked 3rd in the country, only after two major economic centers, Hanoi and Ho Chi Minh City.
The success of attracting investment projects in Binh Duong is always accompanied by positive reviews about the support of legal procedures, accompanying businesses with local authorities. Foreign investors who want to implement projects in Binh Duong need to carry out procedures for applying for an Investment Registration Certificate. Which agency is competent to carry out this procedure? The following article will introduce.
Cases of carrying out to apply for an investment registration certificate
According to the provisions of Article 37 of the Investment Law 2020, cases have to apply for an investment registration certificate include:
Foreign investor: means an individual with foreign nationality or an organization established under foreign law that conducts business investment activities in Vietnam.
Economic organizations established and operating under Vietnamese law, including enterprises, cooperatives, unions of cooperatives, and other organizations conducting business investment activities, and at the same time have ownership of capital by foreign investors is:
- a) a foreign investor is holding more than 50% of the charter capital or the majority of general partners are foreign individuals, for economic organizations being a partnership;
- b) Having an economic organization specified at Point a holding more than 50% of charter capital;
- c) There are foreign investors and economic organizations specified at Point a holding more than 50% of the charter capital.
Conditions for being granted an investment registration certificate
Investment projects that are not in sectors or trades banned from business investment include:
- a) Trading in narcotics specified in Appendix I of the Investment Law 2020
- b) Trading in chemicals and minerals specified in Appendix II of the Investment Law 2020
- c) Trading in specimens of wild plant and animal species extracted from nature specified in Appendix I to the Convention on International Trade in Endangered Species of Wild Fauna and Flora; Specimens of endangered, precious, and rare species of forest plants, animals, and aquatic animals of Group I derived from natural exploitation as specified in Appendix III of the Investment Law 2020.
- d) Doing business in prostitution;
đ) Buying and selling human beings, tissues, corpses, human body parts, human fetuses;
- e) Business activities related to human cloning;
- g) Trading in firecrackers;
- h) Debt collection service business
Having a determined investment project location based on a valid copy of the land use right document or an authoritative copy of the location lease agreement or another document or document defining the right to use the location to implement investment projects;
The investment project has to be comfortable with national, regional, provincial, urban planning.
Investors must satisfy the conditions on investment rate per land area, the number of employees used (if any): determined by the Provincial People’s Committee based on the actual situation of the locality and approved by the Standing Council of the Province People Council.
Satisfying market access conditions for foreign investors: specified in the List of industries and trades restricted from market access for foreign investors, including:
- a) Rate of ownership of charter capital of foreign investors in economic organizations;
- b) Form of investment;
- c) Scope of investment activities;
- d) Investor’s capacity; partners participating in investment activities;
đ) Other conditions prescribed in-laws and resolutions of the National Assembly, ordinances and resolutions of the National Assembly Standing Committee, decrees of the Government, and international treaties to which the Socialist Republic of Vietnam is a member.
Authority to issue investment registration certificates in Binh Duong
The investment registration agency will receive the application and have authorized to issue the Investment Registration Certificate to the investor. In Binh Duong, the investment registration agency will be one of the following two agencies:
- Department of Planning and Investment of Binh Duong province
– Investment projects outside industrial parks, export processing zones, high-tech zones, economic zones.
– Investment projects implemented in 02 or more provincial-level administrative units;
– Investment projects implemented inside and outside industrial parks, export processing zones, high-tech zones, and economic zones.
- Management board of industrial parks, export processing zones, high-tech zones, and economic zones in Binh Duong
- a) Investment projects on construction and business infrastructure of industrial parks, export processing zones, high-tech zones, functional zones in economic zones;
- b) Investment projects implemented in industrial parks, export processing zones, high-tech zones, economic zones.
For projects that need to carry out the procedures for applying for approval of investment policies first, based on the decision on approval of investment policies, the decision on approval of adjustment of investment policies, the investment registration agency will issue, amendment the Investment Registration Certificate to the investor within 05 working days from the date of receipt of Decision on approval of investment policy, Decision on approval of adjustment of investment policy.
For investment projects under the economic zone management board approval, the economic zone management board shall decide to approve the investor concurrently with the grant of the investment registration certificate.
For projects not subject to the issuance of an Investment Registration Certificate, if there is a need for an Investment Registration Certificate, the investor submits a written request for an Investment Registration Certificate, a valid copy Decision on approval of investment policy, and a valid copy of Decision on investor approval (if any) to the investment registration agency for issuance of the Investment Registration Certificate within 05 working days from date of receipt of the proposal.
For investment projects that are not subject to the approval of investment policies, the investment registration agency issues the Investment Registration Certificate to the investor within 15 days from the date of receipt of a valid dossier upon project meets the conditions.
The investor commits to take full responsibility for the truthfulness and legality of the application in the Investment Registration Certificate. In case of non-compliance with commitments, contents recorded on the Investment Registration Certificate, and failure to make prior adjustments at state agencies, administrative violations shall be sanctioned. For more specific advice on legal documents and procedures, please contact Van Luat. We are always ready to accompany and support customers with the most optimal service cost. Sincerely thank!
Reference source: website: https://thuvienphapluat.vn