What is an investment registration certificate in Vietnam? When to get it?

An Investment Registration Certificate (IRC) is a mandatory document for foreign investors looking to set up a business in Vietnam. In this article, Thao & Co. provides a detailed guide on the steps to obtain an IRC, including:

1. • Application procedures
2. • Required documents

What is investment registration certificate in Vietnam?

Definition

Investment Registration Certificate (IRC) is an important document recording an investor’s project registration information, especially for foreign investors launching new business ventures in Vietnam.

Also known as: Investment licenses or investment certificates.

Both paper and digital versions of the IRC hold equal legal validity.

Significance

For individuals, organizations, or enterprises with foreign-invested capital, securing an IRC is essential to legally operate in Vietnam.

This certificate determines whether a foreign investor’s project can successfully launch as it:

1. • Outlines the investment project’s details, including its scope and scale.
2. • Serves as a prerequisite for other business licenses such as construction permits, fire safety certificates, and environmental impact assessment (EIA) reports.
3. • Facilitates tax-related processes, enabling foreign investors to access tax refunds and investment incentives.
4. • Serves as a legal confirmation of foreign investors’ capital contribution rights, authorizing them to invest capital into Vietnam.

Investment licensing authorities

1. + The Department of Planning and Investment: for projects not requiring investment policy approval.

1. + The management boards of industrial parks, export processing zones, hi-tech parks or economic zones: for projects within these specific areas.

ℹ️ Related article: The Complete Guide to Setting up a Business in Vietnam for Foreigners

What’s included in an investment certificate in Vietnam?

Both the paper and digital version of the IRC typically include the following information:

1. – Name of the registered project
2. – Investor(s)
3. – Investment project number
4. – Project implementation site and area of land used
5. – Investment scale and objectives
6. – Investment capital
7. – Project duration
8. – Project progress
9. – etc.

Sample of investment registration certificate in Vietnam (latest form)

Below is the standard investment registration certificate in Vietnam:

Investment registration certificate vs. business license: What’s the difference?

In Vietnam, the investment registration certificate and the business license are essential legal documents for any business. While both are crucial, they serve distinct legal purposes and have notable differences:

+ Purpose of use:

1. • An investment registration certificate verifies the legal status of an investment project, granting specific rights and commitments to investors to move forward.      
2. • A business license enables authorities to track and monitor the operations of a business. This license is mandatory for a business to begin its activities in certain business lines and sectors.

+ Eligibility  

1. • Investment registration certificate: Foreign investors who meet the specified criteria.
2. • Business license: Businesses that meet the criteria outlined in the Law on Enterprises 2014.

+ Issuing authorities:

1. • Investment registration certificate: The Investment Registration Office at the Department of Planning and Investment, or the management boards of industrial parks or export processing zones.
2. • Business license: The Provincial or City Department of Planning and Investment or other competent authorities.

Requirements for Issuing an Investment Registration Certificate

To qualify for an investment registration certificate, an investment project must meet 5 requirements:

1. 1. The business must not operate in sectors and trades that are prohibited.
2. 2. The project implementation site must be in compliance with local laws and regulations.
3. 3. The project conforms with the master plans specified in Vietnam’s Law on Investment.
4. 4. The project meets standards for investment per unit of land area and, if applicable, the number of employees.
5. 5. The investor satisfies market access conditions for foreign investors.

Dossier for investment registration certificate application

When applying for an investment license, an investor’s dossier should include:

1. • A written request for implementation of the investment project (A.I.1form)
2. • House or office rental contracts.
3. • If Vietnamese investors are involved, copies of their ID cards or passports are required.
4. • Proof of the investor’s financial capacity to fund the entire project. Foreign investors must have these documents legalized, translated into Vietnamese, and notarized prior to submission.
5. • A detailed project proposal covering the scope of investment, sources of capital, number of required workers, etc.
   • • A.I.2 form: For public investment projects prepared by competent state agencies.
   • • A.I.3 form: For investment projects proposed by the investor.
   • • A.I.4 form: For projects not requiring investment policy approval.

+ If you are a foreign individual investor, provide copies of your:

1. • Passport

+ For foreign organizational investors, these additional documents are required:

1. • Business registration certificate,
2. • ID or passport of the organization’s representative contributing capital in Vietnam
3. • Audited financial statements within the last 2 years, legalized within the last 90 days.

Note:

1. • Typically, all copies must be notarized before submission.
2. • Documents written in foreign languages must be translated into Vietnamese.
3. • Legalized documents must be accompanied by valid notarized translations.

3 Steps to get an investment registration certificate in Vietnam

To obtain an investment registration certificate in Vietnam, follow these 3 steps:

1. 1. Submit your application: Visit the Investment Registration Office at the Department of Planning and Investment with all the required documents and pay the applicable fees. You will receive a receipt and an appointment date for collecting your results.
2. 2. Wait for approval: The office will process your application, usually within 15 days of submission.
3. 3. Collect your results: On the scheduled date, return to the Investment Registration Office to receive your certificate if your dossier is approved. If there are issues, your dossier will be returned with a detailed guidance on how to revise, update and resubmit it.

FAQs on investment registration certificates in Vietnam

Below are answers to some of the most common questions about the Investment Registration Certificate (IRC) application process in Vietnam.

What is the identification number of an investment registration certificate?

This unique number is assigned by the Vietnam National Investment Portal to indicate that an investment project has been authorized by the government.

Each project receives 1 identification number, which allows for streamlined tracking and management This number remains valid until the project is completed.

How long is an investment registration certificate valid?

According to Vietnam’s Law on Investment, the investment certificate’s validity can vary depending on many factors, such as the project’s scale, objectives, locations, and specific requirements.

Generally, here’s how validity is determined:

1. • Investment projects within economic zones: Valid for up to 70 years.
2. •  Investment projects outside economic zones: Valid for up to 50 years.
3. • Projects in areas with challenging socioeconomic conditions or those requiring substantial capital with a longer ROI period: Valid for up to 70 years.

What is the processing time for an investment registration certificate?

The processing time typically ranges from 5 to 15 days.

1. • Projects requiring investment policy approval: Approximately 5 days.
2. • Projects not requiring policy approval: Approximately 15 days.

Key takeaways

In summary, we’ve covered essential information about the certificate of investment registration in Vietnam.

By following these steps, you’ll be well on your way to securing an investment registration certificate and laying the foundation for your project. Many foreign investors find the application process challenging due to differences in legal systems across countries.

At Thao & Co., we understand these challenges and are here to help bring your business projects to life! Our professional business support services include:

1. 🔹 Enterprise type selection
2. 🔹 Legalization and notarized translation services
3. 🔹 Document preparation and submission
4. 🔹 Legal consultation and comprehensive support throughout the entire process

Our team of experts combines legal knowledge with industry experience. If you’re feeling overwhelmed by paperwork or legal formalities, Thao & Co. is here as your trusted partner on this journey.

Have more questions? Simply leave your information on our Contact page or message us directly through our website.

Our consultants will promptly reach out to help you get started with your business venture in Vietnam.