TRANSFER OF INVESTMENT PROJECT IN VIETNAM

To run business and get profits, investors may invest in a project for two purposes. The first one is to support the business of the enterprise itself. The second one is to transfer the investment project when transferring may bring more benefits than running it. However, the procedures for transferring investment project could be difficult and complicated. Therefore, to give our clients a hand and to save time, especially, to make the transfer more efficient and maximize benefits, Viet An Law Firm is proud to provide consultancy services on investment project transfer. With many experiences in providing advice on hundreds of transactions for local and foreign enterprises, Viet An Law Firm may be the trusted and professional one for your choice:

Transfer investment project services of Viet An Law Firm:

• Consult about regulations on transfer investment project;
• Consult about conditions, methods, plans which are suitable for each enterprise;
• Consult and assess legal status of each party: assignor and assignee;
• Consult, assess and foresee any legal matter may incur during transfer process;
• Consult about transfer investment project separated from the enterprise or in associated with transfer enterprise, transfer capital or transfer shares;
• Consult about tax problems during transfer process;
• Consult about payment methods, arrange funds, working with banks or other credit institutions to support transactions;
• Consult and give guidelines to clients to complete dossiers lawfully and to comply with the procedures for reporting and publishing relevant information;
• Consult, negotiate transactions relevant to transferring investment project, transferring enterprise, preparing documents, contracts, enterprise purchase, transferring capital or shares…;
• Consult about enterprise’s internal legal matters, create document system on structure and operation of the enterprise;
• Represent for clients to perform procedures at state-authorized agencies.

Procedures for investment project transfer:

Step 1: Submit the dossier for investment project transfer at the state-authorized agencies in the city or province where the project locates (if the project is new urban zone and housing project, the state-authorized agency is the Department of Construction; if the project is technical infrastructure in industrial zone, the People’s Committee of Province shall decide which agency will assess);

Step 2: The state-authorized agency shall assess the dossier for investment project transfer within 30 working days from the day on which the full and valid dossier is received;

Step 3: After assessment, the state-authorized agency shall submit to the People’s Committee of Province or to the Prime Minister for decision.

Procedures for transferring investment project between the previous and the new investors:

Step 1: No later than 30 (thirty days) from the approval day, the previous and the new investors must sign the transfer contract and finish the transfer process. The new investors have their obligations to continue the investment project immediately. The previous investors must transfer all relevant documents to the new investors with the handover minutes and a category of documents;

Step 2: Before transferring the project, the previous investors shall notify to all clients about the transfer process and their benefits in written form and announce on the public media before 15 days (at least 03 consecutive issues of a local newspaper, local television or the website (if any) of the state-authorized agency in the province).

A dossier for investment project transfer includes:

• Request for transfer by the previous investors;
• Document for investment rights issued by state-authorized agencies, project dossier which was approved, approval decision, land leasing contracts or decisions on land allocation or certificate of land use right, dossier of the new investors;
• Report on project execution process up to the date of transfer;
• Dossier of the new investors includes:
  • The Certificate of Business Registration (which show the real-estate business line);
  • Commitment of the new investors which show the obligations with the State and clients;
  • Document verifying financial capacity.