What are the regulations on handling forged investment documents in Vietnam?

1. Regulations on investment documents in Vietnam

According to Clause 7, Article 2, Decree 31/2021/ND-CP stipulates investment documents as follows:

Investment documents are documents prepared by the investor or a competent authority for follow procedures for issuance, revision of the decision on approval for investment guidelines, Certificate of Investment Registration, Certificate of Registration of Outward Investment and relevant procedures for investment activities prescribed by the Law on Investment 2020 and Decree 31/2021/ND-CP.

Thus, investment documents are documents prepared by the investor or a competent authority for follow procedures for issuance, revision of the decision on approval for investment guidelines, Certificate of Investment Registration, Certificate of Registration of Outward Investment.

Thus, having complete and valid documents is the basis for the authorities to consider granting investment licenses to investors according to the correct order and procedures for carrying out investment activities according to law.

2. What are the procedures for granting investment registration certificate in Vietnam?

Cases in which the investment registration certificate is required in Vietnam

Cases in which the investment registration certificate is required are specified in Article 37 of the Law on Investment 2020.

- The investment registration certificate is required in the following cases:

+ Investment projects of foreign investors;

+ Investment projects of the business organizations mentioned in Clause 1 Article 23 of the Law on Investment 2020.

- Cases in which the investment registration certificate is not required:

+ Investment projects of domestic investors;

+ Investment projects of the business organizations mentioned in Clause 2 Article 23 of the Law on Investment 2020;

+ Investment in the form of capital contribution, purchase of shares or stakes in a business organization;

- Domestic investors and the business organizations mentioned in Clause 2 Article 23 of the Law on Investment 2020 shall execute the investment projects mentioned in Article 30, Article 31 and Article 32 of the Law on Investment 2020 after their investment guidelines are approved.

- Any investor that wishes to obtain an investment registration certificate for an investment project prescribed in Point a or Point b Clause 2 of Article 37 of the Law on Investment 2020 shall follow the procedures in Article 38 of this Law.

Thus, cases in which the investment registration certificate is required include investment projects of foreign investors and the business organizations. Cases in which the investment registration certificate is not required include investment projects of domestic investors, the business organizations and in the form of capital contribution, purchase of shares or stakes in a business organization;

Procedures for issuance of the investment registration certificate in Vietnam

According to Article 38 of the Law on Investment 2020, the procedures for issuance of the investment registration certificate are as follows:

- If the investment project is subject to approval for its investment guidelines as prescribed in Article 30, Article 31 and Article 32 of the Law on Investment 2020, the investment registration authority shall issue the investment registration certificate to the investor within:

+ 05 working days from the receipt of the written approval for investment guidelines and the written approval for investor with respect to the investment project that is subject to issuance of an investment registration certificate;

+ 15 days from the receipt of the investor’s application for investment registration certificate with respect to the investment project other than that specified in Point a of Clause 1 of Article 38 of the Law on Investment 2020.

- If the investment project is not subject to approval for its investment guidelines as prescribed in Article 30, Article 31 and Article 32 of the Law on Investment 2020, the investor shall be issued with the investment registration certificate if the following conditions are met:

+ The investment project does not involve any banned business line;

+ There is a location for execution of the investment project;

+ The investment project is conformable with the planning specified in Point a Clause 3 Article 33 of the Law on Investment 2020;

+ The investment per m2 (or investment per employee) is not smaller than the minimum requirement.

+ Market access conditions applied to foreign investors are satisfied.

Thus, for projects requiring investment policy approval, the time limit for granting the Investment Registration Certificate is 5 days if concurrent with policy approval or 15 days if separately. For projects that are not subject to investment policy approval, investors will be granted an Investment Registration Certificate if they meet the conditions of industry, location, planning, investment rate, and market access. school.

3. What are the regulations on handling forged investment documents in Vietnam?

According to the provisions of Article 7 of Decree 31/2021/ND-CP, forged investment documents will be handled as follows:

When determined by a competent agency, organization, or person according to the provisions of law that there is fake content in the investment procedure dossier, the investment registration agency shall carry out the following procedures:

1) Notify investors in writing about violations. This notification is intended to let investors know about their violations and have the opportunity to explain and prove the legality of their documents.

2) Cancel or report to the competent authority or person to consider canceling the issued documents and papers. The cancellation of documents and papers is to ensure the legality of investment procedures.

3) Restore issued documents and papers based on the most recent valid records. Restore documents and papers is to ensure the interests of investors if the most recent valid documents meet the conditions for the issuance of documents and papers.

4) Handle or report to a competent authority or person for handling according to the provisions of the law. Handle or report to a competent authority or person for handling in accordance with the law is intended to ensure the strictness of the law and prevent future violations.

5) Investors are responsible, according to the provisions of the law, for all damages arising from acts of falsifying the content of records and documents.