Tiếng Việt| MINISTRIES OF PLANNING AND INVESTMENT, JUSTICE, FOREIGN AFFAIRS, AND PUBLIC SECURITY |
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| No.10/2000/TTLT-BKH-BTP-BNG-BCA | |
Pursuant to Domestic Investment Encouragement Law (the amended version) No.03/1998/QH10 dated May 20, 1998;
Pursuant to Governmental Decree No.51/1999/ND-CP dated July 8, 1999 including detailed regulations on the implementation of Domestic Investment Encouragement Law (the amended version) No.03/1998/QH10 (hereinafter called Decree No.51);
Pursuant to Prime Ministerial Decision No.767/TTg dated September 17, 1997 referring to policies on the overseas Vietnamese community;
Pursuant to Prime Ministerial Decision No.210/1999/QD-TTg dated October 27, 1999 referring to policies on Vietnamese living overseas.
Ministries of Planning and Investment, Justice, Foreign Affairs, and Public Security provide guidance on Vietnamese living abroad and foreigners permanently residing in
1. Subject to the Circular are:
1.1. Vietnamese residing overseas, including:
a. Those people who have Vietnamese nationality and permanently reside abroad;
b. People of Vietnamese origin who permanently reside overseas:
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1.3. Foreigners residing in
a. Foreign citizens permanently residing and working in
b. People without a nationality permanently living and working in
2. Notarisation and legalisation of investor documents
The following foreign language documents of investors must be translated into Vietnamese with the Vietnamese version being notarised by a Vietnamese notary office:
- Documents whereby the foreign relevant authorities certify the investor is subject to 1.2 in this Circular.
- Documents, certificates and diplomas stating investor's qualifications which are granted and certified by the foreign relevant authorities.
3. Establishment of enterprises for implementing investment projects
3.1. To implement investment projects according to the Domestic Investment Encouragement Law, investors can be in his/her personal name or co-ordinated with Vietnamese citizens, Vietnamese residing abroad, foreigners permanently residing in Vietnam to open enterprises observing the Corporate Law and the Co-operative Law.
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3.3. Investors are permitted to hire foreign specialists and technical employees according to guidance in Article 32 of Decree 51.
4. Investor right of capital contribution and share purchase
4.1. Investors' contribution of capital or purchase of enterprise shares observing Decree 51 are as follows:
a. Investors are permitted to contribute capital or buy shares accounting for 30 per cent (or less) of capital of an enterprise involved in the fields of operation approved by the Government in specific periods according to the suggestion of the Minister of Planning and Investment.
b. Minister of Finance decides contributing of capital to or purchase of share of centrally governed State-owned enterprises stated in 4.1.a in this Circular; chairmen of centrally governed provincial or municipal People's Committees decide contribution of capital to and purchase of shares of locally controlled enterprises following the suggestion of directors of departments of planning and investment.
4.2. Rate of contribution of capital to and purchase of shares of non-state enterprises is not limited with contribution and purchase being made through contracts signed between relevant investors and enterprises. Accordingly, enterprises must inform business licence granting bodies (using a written document) of the contribution and purchase 15 days at the latest after contribution and purchase.
5. Investment fields and locations and those subject to investment incentives
5.1. Investors can funnel capital into projects or perform business involved in all operational fields, in all localities observing Vietnam's law, excluding operational fields stated in 2, Article 6 in the Corporate Law and clarified in 1, Article 3, Governmental Decree No.03/2000/ND-CP providing detailed guidance on the implementation of the Corporate Law.
5.2. Investors are encouraged to invest in operational fields described in List A attached to Decree 51 (from now on called List A).
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II. INVESTMENT GUARANTEE AND ASSISTANCE
6.1. Investors with projects implemented observing the Domestic Investment Encouragement Law are provided with favourable conditions to lease land.
Land lease duration of a project is approved by the relevant State authority but does not exceed 50 years.
Lands are leased according to regulated areas.
6.2. Investors are permitted to lease land to construct accommodations for selling to those who are licensed to buy or lease accommodations in
7. Investor rights on leased land
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8. Borrowing from the development assistance fund
Investors with projects belonging to List A or projects in localities stated in lists B or C are considered by the development assistance fund to receive investment assistance in the forms of loans, interest rate and credit guarantee according to the State's current regulations on development investment credits.
9. Tax exemption and reduction
Corporate income tax rate; exemption and reduction of corporate income tax, personal income tax, additional income tax and tax levied on equipment and machinery imported for developing fixed assets for investment projects involved in operational fields stated in List A or investment projects in localities described in lists B and C are the same as those applicable to domestic enterprises operating in the same areas of business stated from Article 20 to Article 27, Decree 51.
10.1. Enterprises directly invested in Vietnam by Vietnamese residing abroad; enterprises directly invested in Vietnam by foreigners permanently residing in Vietnam; enterprises opened by Vietnamese citizens in co-operation with Vietnamese residing abroad or with foreigners permanently residing in Vietnam which all have projects observing the Domestic Investment Encouragement Law enjoy input prices of land, goods, materials, fuel and services as well as bear tax rates the same as those subject to domestic projects of the same kind. (The prices are defined by Government.)
10.2. Investors implementing investment projects observing regulations in 1, 2, 3 and 5, Article 1, Decree 51 in co-ordination with their relatives in Vietnam (if any) including a legal husband or wife, father, mother, child or foster child bear service prices associated with accommodation, hotel, power, water, healthcare, river-way, road and air-way travel charges, post and telecommunications charges and charges for education and training the same as those applicable to Vietnamese citizens residing in Vietnam.
11. Investor one-price card and related granting procedures
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A one-price card is issued by the Ministry of Planning and Investment and effective nation-wide. (A card form is attached to this Circular.) Chairmen of the centrally governed provincial or municipal People's Committees grant cards of this kind to investors and their relatives within seven days of receiving all legal documents.
11.2. Card request document set includes:
a. A petition requesting a one-price card enclosed with a list of investor relatives; the investor and each of his (her) relatives provides two 3x4cm photographs (half-length photographs showing the complete face with a bared head) which were taken six months or less before the petition. (The complete name and date of birth are written on the back of the photographs.);
b. Documents certifying relations between the investor and his/her relatives.
11.3. Investors provide documentation set forth in 11.2 in this Circular in addition to documents requesting investment incentives to the centrally governed provincial or municipal department of planning and investment located where the investment project is headquartered or implemented.
11.4. For projects started before this Circular is effective, investors contribute documents set forth in 11.2 in this Circular in addition to a notarised copy of the investment incentive certificate to the department of planning and investment where the investment incentive certificate was granted.
Within 10 days of receiving documents requesting a one-price card, the department of planning and investment evaluates and submits to the chairman of the relevant centrally governed provincial or municipal People's Committee these documents so as he can grant cards to investors and their relatives.
11.5. Interests of investors and their relatives set forth in these cards include services documented in 10.2, this Circular.
11.6. Centrally governed provincial or municipal People's Committees where cards are granted determine whether to revoke cards in cases when investor enterprises go bankrupt or disband or in cases where card holders violate guidance in 3, Article 121, the Corporate Law.
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12. Certifying Vietnamese nationality, losing Vietnamese nationality
12.1. Those who are regulated in 1.1,a of this Circular must have legal Vietnamese passports. In cases of no Vietnamese passports, they must have one of the following documents: a certificate of Vietnamese nationality, a document certifying that he/she has lost his/her Vietnamese nationality, or a citizen certificate. These people do not have to go through procedures for certifying their Vietnamese blood-relations.
12.2. Those who are regulated in 1.1.b in this Circular must have certificates of Vietnamese nationality, documents certifying the losing of Vietnamese nationality or citizen certificates.
12.3. Powers and formalities to grant certificates of Vietnamese nationality, documents certifying the losing of Vietnamese nationality or citizen certificates:
- Granting of certificates of Vietnamese nationality is implemented according regulations in Articles 35 and 36 in the Vietnamese Nationality Law and Articles 17, 18 and 19 in Governmental Decree No.104/1998/ND-CP dated December 31, 1998 providing detailed regulation and guidance on implementing the Vietnamese Nationality Law (hereinafter called Decree No.104/1998/ND-CP.)
- Granting of documents certifying the losing of Vietnamese nationality is implemented according to Articles 35 and 36 in the Vietnamese Nationality Law and Articles 25 and 26 in Decree No.104/1998/ND-CP.
- Granting of citizen certificates is implemented according to Ministry of Foreign Affairs' Decision No.713-NG-QD dated May 17, 1997.
13. Procedures certifying Vietnamese blood-relation
13.1. Those who are described in 1.2 in this Circular must have certificates of Vietnamese blood-relation (a relevant form is attached to this Circular) which are granted by one of the following competent bodies:
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b. The Committee For Overseas Vietnamese.
13.2. Requesters of certificates of Vietnamese blood-relation from organisations stated in 13.1 in this Circular must submit a petition of request (made according to the form attached to this Circular) in addition to the following documents (including documents granted by the old authorities before April 30, 1975):
a. Documents certifying Vietnamese nationality of his/her father, mother, paternal grandfather, paternal grandmother, maternal grandfather, maternal grandmother; in cases where these people lose their Vietnamese nationality, documents certifying that they have lost their Vietnamese nationality are required;
b. Documents certifying that the requester is the child, paternal grandchild or maternal grandchild of those who are stated in 13.2.a in this Circular; and
c. Legal foreign passport.
13.3. In cases where documents set forth in 13.2.a and 13.2.b of this Circular cannot be obtained, Vietnamese blood-relation certificate requesters must have the following documents:
a. For those who request certificates at Vietnamese competent bodies overseas stated in 13.1.a in this Circular, the following documents are required:
- A document of the Vietnamese community located where the requester lives (It can be Vietnamese associations having relations with legal domestic organisations and bodies, or Vietnamese representative bodies in that country) certifying that the requester has blood-relations with people having Vietnamese nationality or with people who ever had Vietnamese nationality.
- Requester curriculum vitae.
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- Documents of at least two Vietnamese citizens permanently residing inside the country, who have full civil action capability, certifying that the requester has blood-relations with people having Vietnamese nationality or with people who ever had Vietnamese nationality; The certificates include names, surnames and addresses of the certified and certifying people; and
- Requester curriculum vitae.
13.4. Within 20 working days from when receiving all legal documents, the relevant Vietnamese authority determines whether to grant a Vietnamese blood-relation certificate. When refusing to grant a certificate this authority has to give reason(s) by documentation.
IV. INVESTOR IMMIGRATION AND RESIDENCE
14.1. Investors having legal Vietnamese passports can enter or exit the country without a visa.
14.2. Relevant Vietnamese bodies provide favourable conditions for investors with foreign passports to enter the country to operate projects according to the Domestic Investment Encouragement Law (the amended version).
15. Residence; granting, change and revocation of residence permit
15.1. Residence and travel of investors described in 1.2 and 1.3 in this Circular are set forth in Articles 11 and 12 of the Ordinance on Immigration and Residence of Foreigners in
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V. BUSINESS REGISTRATION AND GRANTING OF INVESTMENT INCENTIVE CERTIFICATES
16. Business registration documents
Apart from business registration documents required to be possessed by investors as Vietnamese citizens, investors must have the additional following documents:
16.1. For investors described in 1.1 in this Circular:
a. A copy of the legal Vietnamese passport or a certificate of Vietnamese nationality; a certificate certifying the losing of Vietnamese nationality; or a citizen certificate; and
b. Documents and certificates associated with qualifications of managers involved in some operational fields regulated by the law of
16.2. Investors stated in 1.2 in this Circular must have certificates of Vietnamese blood-relation and documents described in 16.1.b in this Circular.
16.3. Investors regulated in 1.3 in this Circular must have residence permits granted by the relevant Vietnamese bodies and documents described in 16.1.b in this Circular.
17. Procedures and time of business registration
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17.2. Within 15 working days of receiving all required documents, the relevant department of planning and investment is responsible for implementing investor business registration.
18.1. To enjoy investment incentives following the Domestic Investment Encouragement Law (the amended version), investors with projects involved in operational fields belonging to List A or projects in localities set forth in lists B or C must observe regulations of Ministry of Planning and Investment Circular No.02/1999/TT-BKH dated September 24, 1999.
18.2. Every six months (by early June and December of the year) enterprises as investment incentive beneficiaries are responsible for reporting the relevant department of planning and investment on their utilisation of investment incentives; the department will then send a report to the Ministry of Planning and Investment.
18.3. In cases where enterprises or investors violate Vietnam's law, not satisfying all terms required for enjoying investment incentives, going to reside in another country or violating regulations in 3, Article 121 in the Corporate Law, the relevant department of planning and investment revokes investment incentive certificates and one-price cards (if any) of these investors and their relatives as set forth by Article 33 in the Domestic Investment Encouragement Law (the amended version).
VI. CHANGING OF INVESTOR NAME AND
19. Terms for changing names of investors of operational enterprises
19.1. Investors set forth in 3.2 in this Circular, when implementing investor name changing procedures, must have the following documents:
a. A document agreeing to return to the investor enterprise assets and capital which are being managed by the person or people entrusted by these investors;
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c. A document showing agreement of enterprise founders and shareholders for changing the investor name and investment capital form;
d. Taxation bodies' certifying that the enterprise requesting change of its investor name has completed all the required financial obligations regulated by the State;
e. A petition of the investor requesting change of the enterprise's investor name and investment capital form where he has pledged to observe corporate rules and continues rights and obligations of the enterprise.
19.2. The new investor is responsible for legalising the ownership, use and other rights associated with the transferred assets according to
Investors set forth in 3.2 of this Circular, who transferred their capital and assets to Vietnamese citizen(s) or Vietnamese production and/or business organisations and use the name of these individuals or organisations to invest or do business in Vietnam, when implementing formalities for affirming their ownership of enterprise capital and assets, must have documents of these Vietnamese citizen or production/business organisations agreeing to return to investors the assets and capital which are being manager by these individuals and organisations.
21. Procedures and time for changing investor name
21.1. The department of planning and investment assist the chairman of the centrally governed provincial or municipal People's Committee in dealing with changing of investor names. The department receives and considers the associate documents and guide investors complete the document set.
21.2. To change the investor name of an operational enterprise, the investor sends enterprise business registration documents to the department of planning and investment where enterprise business licence was granted. These documents include those described 16.1 and 19.1 of this Circular.
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21.4. Twenty days after information, if there are no disputes and claims raised regarding the enterprise, the department of planning and investment implements procedures to change the investor name for the enterprise an then submits this to the chairman of the centrally governed provincial or municipal People's Committee for decision.
22. Other regulations associated with changing of investor name
22.1. Only enterprises without disputes can change their investor names.
List of information Technology Projects Calling for Investment
No.
Project
Product
Co-operational form
Anticipated investment capital
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Vietnamese partner
1
Electronic parts factory
Chip capacitors, chip resistors, coils of wire and transformers
JV or 100 per cent foreign capital
US$5 mil.
80
VEIC
2
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Plastic moulds
JV or 100 per cent foreign capital
$5 mil.
50
VEIC
3
IC electronic chips factory
Integrated circuits
JV or 100 per cent foreign capital
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95
VEIC
4
Electromotive speakers factory
Loudspeakers for audio and visual products
JV or 100 per cent foreign capital
$2 mil.
50
VEIC
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Magnetic material parts factory
Powder, magnetic cores, transformers and other specialised magnetic products
JV or 100 per cent foreign capital
$10 mil.
50
VEIC
6
Quartz parts factory
Quartz oscillator sets, modules using oscillator sets, and filter sets
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$5 mil.
90
VEIC
7
Antennas factory
Antennas for radios, TVs and telecommunications devices
JV or 100 per cent foreign capital
$11 mil.
85
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8
Print circuits factory
Multiple-layer print circuits
JV or 100 per cent foreign capital
$17 mil.
50
VEIC
9
CD-DVD optic discs factory
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JV or 100 per cent foreign capital
$6 mil.
85
VEIC
10
Solar batteries factory
Solar battery panels, electronic appliances enclosed and for controlling, checking and monitoring solar battery panels
JV or 100 per cent foreign capital
$ 1 mil.
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VEIC
11
Specialised electronic appliances factory
Industrial measuring devices and PLC-based digitally-controlled groups and appliances
JV or 100 per cent foreign capital
$4 mil.
50
VEIC
12
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Computer primary circuit boards and cards, sourcing sets and mechanical details, plastic parts of personal computers (PCs), and computers
JV or 100 per cent foreign capital
$5 mil.
50
VEIC
13
Monitor factory
Computer monitors and groups of enclosed accessories and circuit boards
JV or 100 per cent foreign capital
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30
VEIC
14
"
Constructing a centre for national and international exchange on information technology, producing and trading in applied software products, expert systems educational aid systems and software in Vietnamese version
JV or 100 per cent foreign capital
$16 mil.
30
VEIC
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Electronic toys enterprise
Electronic toys and educational electronic products
JV or 100 per cent foreign capital
$2 mil.
30
VEIC
16
Hi-tech electronic medical equipment factory
Hi-tech electronic medical equipment, software for manufacturing medical equipment and some types of electronic medical parts
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$5 mil.
50
VEIC
17
Regional electronics telecommunications training institute
Training engineers in electronics, information technology and telecommunications for
JV or 100 per cent foreign capital
$15 mil.
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18
Information technology equipment factory
Specialised information devices, pagers, telephones and mobile telephones
JV or 100 per cent foreign capital
$5 mil.
30
VEIC
19
Electronic alarms factory
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JV or 100 per cent foreign capital
$4 mil.
60
VEIC
20
Electronics information technology technical high school
Training technical workers and intermediate-level technicians in electronics, information technology, telecommunicat-ions and automation
JV
$2.5 mil.
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VEIC
Note: VEIC:
- 1 Joint circular No.11/BKH-NG, issued by the Ministry of Foreign Affairs and the Ministry of Planning and Investment, on guiding the procedures for certifying the Vietnamese origin and legal record of overseas Vietnamese who invest in Vietnam under the Law on Promotion of Domestic Investment.
- 2 Joint circular No.11/BKH-NG, issued by the Ministry of Foreign Affairs and the Ministry of Planning and Investment, on guiding the procedures for certifying the Vietnamese origin and legal record of overseas Vietnamese who invest in Vietnam under the Law on Promotion of Domestic Investment.
- 1 Decree No. 03/2000/ND-CP of February 3, 2000, guiding the implementation of a number of articles of The Law on Enterprises
- 2 Circular No. 02/1999/TT-BKH of September 24, 1999, guiding the order and procedures for granting investment privileges under the Government’s Decree No. 51/1999/ND-CP of July 8, 1999 detailing the implementation of domestic investment promotion law (amended) No. 03/1998/QH10
- 3 Decree No. 51/1999/ND-CP of July 8, 1999, detailing the implementation of Law No. 03/1998/qh10 on domestic investment promotion (amended)
- 4 Joint circular No. 08/1998/BTC-BTP-BNG of December 31, 1998 guiding the collection, payment, management and use of fees for granting, restoration or relinquishment of Vietnamese Nationality and for granting of Vietnamese Nationality
- 5 Law No. 03/1998/QH10 of May 20, 1998, on domestic investment promotion (amended)
- 1 Decree No. 03/2000/ND-CP of February 3, 2000, guiding the implementation of a number of articles of The Law on Enterprises
- 2 Joint circular No. 08/1998/BTC-BTP-BNG of December 31, 1998 guiding the collection, payment, management and use of fees for granting, restoration or relinquishment of Vietnamese Nationality and for granting of Vietnamese Nationality