Similar to enterprises with 100% Vietnamese capital, after being granted an investment registration certificate (IRC), foreign investors need to contribute capital in full and on time as committed and recorded on the certificate. receive investment. It is extremely important for investors to contribute investment capital on time, because if the recorded deadline passes, the Bank will not receive additional investment capital into the account, and the company will not have additional capital to proceed. business activities.
Therefore, the procedure for extending the capital contribution period for foreign investors is an important and frequently applied procedure to extend and record the capital contribution period of foreign investors on the certificate. investment registration. Join Pham Consult to learn about procedures for extending capital contribution time.
1. Investors need to meet the conditions when carrying out procedures to extend the capital contribution period: The capital contribution period is recorded on IRC until the time of submitting the extension application.
In case the capital contribution period has expired, the enterprise may be subject to administrative fines or worse, the investment certificate will be revoked.
2. Components of application for extension of capital contribution period for investors:
Investors need to submit 01 set of documents to adjust the investment certificate to the investment certificate issuing agency as follows:
– Application for adjustment of Investment Registration Certificate;
– Report on the implementation of investment projects up to the time of adjustment;
– Decision and valid copy of meeting minutes of the Board of Members/General Meeting of Shareholders/owners of the Economic Organization implementing the investment project on adjusting the investment project;
– Explain the reasons for adjusting the investment project;
– Copy of the Decision approving (adjusting) the investment policy or the Decision approving (adjusting) the investor or the Decision approving (adjusting) the investment policy concurrently with the investor approval or Paper Investment registration certificate/Investment certificate/Investment license/Business license.
– Documents related to the adjustment: confirmation of the amount of contributed investment capital; Prove financial capacity regarding the investment capital that has not been fully contributed.
– Authorization document in case the investor does not directly submit the application.
3. Procedures for applying for extension of capital contribution period for foreign investors:
Step 1: The investor prepares a set of documents signed and stamped as in section 2.
Step 2: Investors declare online information about investment documents and projects at the national information system on foreign investment (fdi.gov.vn).
Step 3: The investor submits 01 set of documents directly to the investment certificate issuing agency. (Within 15 working days from the date of online declaration in the system, investors must submit documents directly)
Step 4: Receive results of new investment certificate with extended contribution deadline. After 10 days from the date of receipt of valid documents, the competent authority will make adjustments to the investment certificate.
4. Some things to note when carrying out procedures to renew the investment registration certificate:
– It is necessary to carry out procedures to extend the capital contribution period before the expiry of the capital contribution period recorded on the investment registration certificate.
– The capital contribution extension period registered by the investor will be considered by the competent authority, based on the project’s operating situation and recorded in the investment certificate.
– In case the investor has not contributed enough initial capital, he/she must also carry out procedures to adjust the business registration certificate in accordance with the actual charter capital contributed according to the provisions of the Enterprise Law.
– In case an enterprise does not adjust the content on the investment registration certificate regarding the capital contribution period, it can be fined a minimum of 20,000,000 VND – 30,000,000 VND (Article 13, Decree 50/2016/ ND-CP).
Thus, through the article on Pham Consult, the procedure for extending capital contribution time for foreign investors has been clarified. Customers who want further advice or support in implementing this service, please contact Pham Consult.