In case the foreign company intends to change head office’s address of Investment Certificate. SBLaw would like to advise as follows:
Under Vietnam Law, in order to record the new head office’s address, the Company shall be required to apply for the amendment of Investment Certificate.
Based on our practical experience in the similar case before, we anticipate that it shall take about 15-20 days to obtain the amended Investment Certificate from the competent authority in a straight forward case.
Nevertheless, following factors may affect to the progress of the amendment of your Investment Certificate:
– Your actual implementation of capital contribution schedule as previously recorded on the Investment Certificate.
Please note that, in case the Foreign Investor fails to provide sufficient documents proving that it has fulfilled its obligation of capital contribution as registered, the Competent Authority may suspend consideration progress of your application for amendment of Investment Certificate for recording the new Head Office Address. The Competent Authority shall only continue this progress upon the Investor provide sufficient explanation on this.
– Business Operation Result as recorded in your audited Financial Statement for the recent year.
Under Vietnam Law, upon applying for amendment of Investment Certificate, one of required documents to be submitted shall be inclusive of the Financial Statement for the most recent year. In case according to the audited Financial Statement for the most recent year show that the business operation result for the most recent year is not positive, the competent authority may also require you to make sufficient explanation on your proposed plan for overcoming such difficulties.
– In case the Legal Representative of the Company is a foreigner, the competent authority may also require the Company to supplement the Resident Permit of the Legal Representative or equivalent document to prove that he/she resides in Vietnam.
– Last but not least, the new office for registering the new head office of the company must be legally owned by the Lesser and the Lesser is entitled to lease such office to you. A set of documents for proving this shall be required to be included in the application dossier for submission to the competent authority.
We believe that SBLaw is well-positioned to assist client in obtaining license for new office for following basis:
– SBLaw’s understanding of Client’s aspirations and requirements
– Highly skilled and experienced consultants and lawyers with high ability to assist client regarding to approach business goals in Vietnam.
Our scope of work:
Our services in this regard will include:
|SCOPE OF SERVICES|
|Preparation of the application documents: |
|Licensing procedures: |
|Post-licensing procedures: |
Placing an announcement on the amendment of Investment Certificate in the newspaper.
– Within 03 working days counted from client’s delivery of necessary documents and information as provided under legal contract between SBLaw and the Company, we shall transfer necessary documents to the Company for reviewing and signing;
– Within 20 days from submission of legitimate application dossiers to the Competent Authority, SBLaw shall obtain the Amended Investment Certificate for the Company. (However, in case, the schedule last long time due to the objective reasons, SBLaw shall immediately inform the Company);
The Deliverables will include documents prepared in Vietnamese as required for submission to licensing bodies. Client will review, approve and where necessary sign these documents. SBLaw may provide English translations of these documents (or extracts thereof), but the translated documents should be used for reference other the purposes of discharging client’s responsibility for the positions taken and the underlying company information.
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