Skip Ribbon Commands
Skip to main content
Link Web
Business > Posts > Changing/Moving Business
Moving a BusinessWednesday, 03/23/2005, 03:45

Changing/Moving Business

According to Circular 03BKH-QLDA dated March 15, 1997 by the Ministry of Planning and Investment (MPI) giving guidelines for implementation of foreign investment projects in Vietnam, foreign-invested enterprises can apply for amendment of and supplementation to investment licenses in the following cases:
Changing/Moving Business


Changing/Moving Business


According to Circular 03BKH-QLDA dated March 15, 1997 by the Ministry of Planning and Investment (MPI) giving guidelines for implementation of foreign investment projects in Vietnam, foreign-invested enterprises can apply for amendment of and supplementation to investment licenses in the following cases:

-Changing partner(s)/Transferring capital,
-Changing the investment form,
-Changing or supplementing business objectives,
-Opening branches,
-Adjusting capital (increasing or reducing capital, changing capital structure, etc.)
-Other adjustments (term of operation, tax rate, land rent, product consumption, etc.)

In these cases, foreign investors must submit applications to the investment licensing authority. The application includes:

-Application for amendment of or supplementation to the investment license signed by the general director or the first deputy general director.
-Decision of the board of directors of the joint venture enterprise, agreement of parties to the business cooperation contract, or request of the owner of the 100% foreign-owned enterprise.
-Report on implementation of the investment license from the date of issuance to the date of application for amendment or supplementation.

In addition to these documents, foreign investors must submit a letter of explanation in specific cases:

-Changing business objectives: Reason(s) for the change, and solutions to achieve new objectives regarding market, capital, technology, etc.
-Increasing capital: Reason(s) for increasing capital, financial conditions to support the increase, and the list of additional machinery and equipment needed as a result of the increase. In case the increase is made with profit used for reinvestment, a certification by the tax authority is needed.
-Transferring capital and changing partner(s): The need for capital transfer, evidences about the legal status and financial capacity of the new partner (s), the notarized agreement for capital transfer, which states clearly the condition, method and price of the transfer.
-Opening branches: The need and business objective of the branch, the approval of the provincial people�s committee regarding the location where the branch is to be established and the land rent thereof.
-Other cases: Reason(s) for amendment of and supplementation to the investment license.

All the documents submitted must be originals or notarized copies.
 

 


Views: 1 Print Back
 
Date: