Profile
Vietnamese
CRUDE OIL IMPORT AND EXPORT CONSULTANCY
Vietnam is a country that both exports and imports crude oil with a large proportion. It is an extremely attractive environment for investors who want to invest in this activity. According to statistics, crude oil imports in the first months of 2023 reached 1.1 billion USD, up 2.2 times in volume and 2.1 times in value. So when investing in crude oil import and export, what legal procedures must investors carry out? Please read and follow the article below.
Crude oil import and export investment procedures (when not in cases where it is necessary to decide on approval of investment policies)
Step 1: Crude oil import-export investors shall carry out procedures for issuance of crude oil import and export investment registration certificates at the Department of Planning and Investment of the province/city where the investment project is located
- The investor submits a set of crude oil import and export dossiers to the competent authority. The dossier includes: (Clause 1, Article 33 of the Law on Investment 2020)
- A written request for implementation of a crude oil import and export investment project (according to the form);
- Documents on the legal status of crude oil import-export investors (Passport for individual investors; Decision on establishment/business registration for institutional investors);
- Documents proving the financial capacity of crude oil import-export investors (One of the following documents: financial statements of the last 02 years; commitment of financial support of the parent company; commitment of financial support of financial institutions; guarantee of financial capacity of investors; other documents proving financial capacity);
- Proposal of crude oil import and export investment project (State the following main contents: investor/form of investor selection, objectives, scale, investment capital and capital mobilization plan, location, duration, implementation schedule,… impacts, socio-economic efficiency of the project, preliminary environmental impact assessment,…)
- A copy of a document on land use right or other document determining the right to use the site for the implementation of crude oil import and export investment projects (in case the project does not request the State to allocate land, lease land, allow change of land use purposes)
- Contents of explanation on technology (in investment projects, for projects subject to appraisal and collection of opinions on technologies in accordance with the law on technology transfer)
- BCC contract (for investment projects in the form of BCC contract)
- Other documents related to crude oil import and export investment projects (if any)
- Within 15 working days after receiving a complete dossier, the Department of Planning and Investment shall consider and issue the Certificate of registration of crude oil import and export investment to the investor. In case of refusal, a written statement clearly stating the reason for refusal must be made.
Step 2: After obtaining the Investment Certificate, the crude oil import-export investor shall carry out procedures for establishing an economic organization to carry out crude oil import and export activities through the procedures for issuance of the Certificate of registration of enterprises eligible for crude oil import and export at the business registration office – Department of Planning and Investment at the place where the economic organization is located Headquarters
- The investor submits a set of documents to the Business Registration Office under the Department of Planning and Investment of the provinces/cities where the enterprise is located. The dossier includes:
- Application for enterprise registration – in this document clearly stating the industry and code of crude oil import and export industry (according to the form);
- The company’s charter;
- List of founding shareholders and shareholders being foreign investors in crude oil import-export enterprises (if they are joint-stock companies); List of members (if it is a two-member limited liability company);
- Documents on the legal status of the representative of the crude oil import-export enterprise (If an individual: Copy of passport/citizen ID/identity card; for organizations: establishment decision/business registration certificate/equivalent document and passport/identity card/citizen identity card with written authorization for the manager capital in Vietnam;
- A certified copy of the investment registration certificate issued for the crude oil import and export project;
- Within 03-07 working days after receiving a complete dossier, the business registration office under the Department of Planning and Investment shall issue a business registration certificate to crude oil import-export enterprises. In case of refusal, it must be in writing and clearly state the reasons.
Step 3: Investors carry out procedures for issuance of crude oil import and export business licenses
Dossiers of application for petroleum import and export business licenses:
- An application for a license for crude oil import and export business according to Form No. 1 in the Appendix attached to Decree 83/2014/ND-CP;
- A copy of the Certificate of registration of crude oil import-export enterprises;
- List of material and technical foundations serving petroleum trading as prescribed in Clauses 2, 3 and 4, Article 7 of Decree 83/2014/ND-CP, enclosed with supporting documents;
- List of petroleum retail outlets owned or owned and co-owned, list of general agents and agents belonging to the petroleum distribution system of traders as prescribed in Clause 5 Article 7 of Decree 83/2014/ND-CP, together with supporting documents.
Special incentives Siglaw offers for customers when using crude oil import and export investment consulting services
- Free consultation on contracts, regulations on corporate law, investment law of Vietnam.
- Free consultation on issues related to recruitment, employment of foreign workers and residence of foreigners in accordance with Vietnamese law.
- Incentives for regular consultation and answers to tax-related issues: Personal income tax, corporate income tax … at the time of consultation of offshore investment projects.
- … And many other added values exceed customer expectations!
Phone: (+84) 961 366 238
Email:
- vphn@siglaw.com.vn
- vphcm@siglaw.com.vn
Headquarters: Floor 12A Sao Mai Building, 19 Le Van Luong Street, Nhan Chinh Ward, Thanh Xuan District, Hanoi City.
Southern branch: No. 99 Cong Hoa, Ward 04, Tan Binh District, Ho Chi Minh City.
Central branch: 177 Trung Nu Vuong, Hai Chau District, Da Nang City
Facebook: https://www.facebook.com/hangluatSiglaw
