Procedures for extending investment capital contribution schedule

During the project implementation, the time for making investment capital contribution is a popular issue that many investors are concerned about. When carrying out the procedures for granting an Investment Certificate, investors cannot anticipate a number of issues, such as preparing enough capital to contribute according to the schedule registered with the local authorities. Therefore, when investors cannot complete capital contribution according to the deadline on the Investment Certificate, they need to carry out procedures to extend the investment capital contribution schedule. Today, let’s learn about the procedures and documents for extending the capital contribution schedule on the Investment Certificate with Siglaw Law Firm.

Legal basis for implementing the extension of investment capital contribution schedule

• Investment Law No. 61/2020/QH14 of the National Assembly dated June 17, 2020.
• Decree No. 31/2021/ND-CP of the Government dated March 26, 2021 detailing and guiding the implementation of a number of articles of the Investment Law.
• Circular No. 03/2021/TT-BKHĐT of the Ministry of Planning and Investment dated April 9, 2021 stipulating forms of documents and reports related to investment activities in Vietnam, investment from Vietnam to foreign countries and investment promotion;

When an investor carries out the procedure to extend the capital contribution schedule, it will change the content of the Investment Registration Certificate and must make adjustments to the investment project. The investor needs to carry out the procedure to adjust the Investment Registration Certificate for projects that have been approved for investment policy and projects that are not subject to investment policy approval.

Application for extension of investment capital contribution schedule

Legal basis: Article 43, Clause 1 Article 44, and Article 47 of the Decree guiding the Investment Law

• Document requesting adjustment of investment project;
• Report on the implementation of investment project up to the time of adjustment;
• Decision of the investor on adjusting investment project for institutional investors;
• Explanation or provision of documents related to the extension of capital contribution schedule
• Power of attorney in case of authorizing a representative or individual to carry out procedures for extending capital contribution progress

Competent authority

• Department of Planning and Investment where the investor implements the investment project, locates or plans to locate the executive office to implement the investment project
• The Management Board of industrial parks, export processing zones, high-tech zones, and economic zones issues, adjusts, and revokes the Investment Registration Certificate for investment projects in industrial parks, export processing zones, high-tech zones, and economic zones

Procedures for extending the schedule for capital contribution

• Step 1: The investor will prepare and submit a valid dossier
• Step 2: The investor declares information about the investment project online on the National Investment Information Portal.
• Step 3: Within 15 days from the date of online declaration, the investor submits an adjustment to the Investment Registration Certificate to the investment registration authority. After 15 days from the date of online declaration, if the investment registration authority does not receive the dossier, the online declaration dossier is no longer valid.
• Step 4: Within 10 days from the date of receiving a valid dossier, through the National Investment Information Portal, the investment registration authority receives, processes, and returns the implementation results

Note: Article 117 of the Decree guiding the Investment Law stipulates that for projects whose investment policies are decided by local authorities, the extension period must not exceed 24 months from the date of completion of the final investment project implementation schedule in the investment policy decision document, investment approval document, or Investment Registration Certificate.

In general, the procedure for extending the capital contribution schedule is quite simple. Investors only need to prepare the above documents and explain the reason for the extension, then the local authority will approve the adjustment of the Investment Registration Certificate for the investor.

Above is information about the procedure for extending the capital contribution schedule. Hopefully, the above information can help customers understand and grasp the procedure for extending the capital contribution schedule. For specific advice, customers can contact Siglaw Law Firm for the fastest and most detailed answers:

Siglaw Law Firm

Phone: (+84) 961 366 238

Email:

• vphn@siglaw.com.vn
• vphcm@siglaw.com.vn

Headquarters: No.44/A32-NV13, Gleximco A, Le Trong Tan street, An Khanh, Hoai Duc, Ha Noi, Vietnam.

Southern branch: A9.05 BLOCK A, SkyCenter Building, 5B Pho Quang Street, Ward 2, Tan Binh District, Ho Chi Minh City, Vietnam.

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