CSPL:  Article 64 of the Law on Investment 2020

            Article 87 Decree 31/2021/ND-CP

1. Cases of termination of validity of the Certificate of Outward Investment Registration

The Certificate of Outward Investment Registration shall cease to be valid in the following cases: : 

– The investor decides to terminate the operation of the investment project;

– Expiration of the investment project’s operating term according to the provisions of the law of the receiving country investment;

– According to the conditions of termination of operations specified in the contract and charter of the enterprise;

– The investor transfers all investment capital abroad to the foreign investor;

– Past the deadline of 24 months from the date of issuance of the Certificate of investment registration abroad but the investor fails to implement or is unable to implement the project investment projects according to the schedule registered with state management agencies and do not carry out procedures to adjust the progress of investment projects;

– Overseas economic organizations are dissolved or bankrupt according to the provisions of law of the host country;

– According to judgments, decisions of the Court, arbitration awards.

2. Dossier for invalidation of Certificate of Outward Investment Registration

According to Article 87 of Decree 31/2021/ND-CP, dossier for invalidation of Certificate of Outward Investment Registration includes:

– Investor submits 02 sets of dossier to request invalidation of Certificate of Outward Investment Registration (including 01 set of dossier original) including the following documents:

– Written request to terminate the validity of the Certificate of outward investment registration;

– Original copies of issued Certificates of outward investment registration;

– Decision to terminate investment projects in foreign countries corresponding to the provisions of Article 59 of the Law on Investment investment;

– Documents proving that the investor has completed the termination and liquidation of the project and transferred all money, assets, and proceeds from the termination and liquidation of the project back to the country.

– Documents on the investor’s legal status.

3. Order and procedures for invalidating the Certificate of overseas investment registration

– The Ministry of Planning and Investment checks the validity of the dossier. In case the dossier is invalid or has content that needs to be clarified, the Ministry of Planning and Investment shall notify the investor in writing to complete the dossier.

– The Ministry of Planning and Investment sends dossier to seek opinions from the State Bank of Vietnam on the investor’s foreign exchange transaction situation; the investor’s compliance with the law on foreign exchange, violations and handling of violations under the authority (if any);

– Within 15 days from the date of receiving valid documents, the Ministry of Planning and Investment shall issue a decision to terminate and revoke the Certificate of overseas investment registration to the investor, and send copies to the State Bank of Vietnam, the Ministry of Finance, the Ministry of Foreign Affairs, and the Ministry of Labor and War Invalids. and Society, the industry management ministry, the People’s Committee of the province or centrally run city where the investor is headquartered or has permanent residence, the tax agency that confirms the implementation of the investor’s tax payment obligations, the investor’s owner representative agency (if any).

– In case of termination of an investment project abroad due to the investor transferring all investment capital abroad to the foreign investor, before implementing the work Transfer all investment capital abroad to foreign investors and terminate the project, the investor must notify the State Bank of Vietnam.

– In case of terminating an investment project abroad because the investor does not carry out procedures to terminate the validity of the Certificate of investment registration abroad, the Ministry of Planning and Investment, based on the Law on Investment and Decree 31/2021/ND-CP, shall terminate the validity Certificate of overseas investment registration sent to investors and relevant state management agencies. After the Outward Investment Registration Certificate is terminated, if the investor wants to continue implementing the outward investment project, he or she must carry out the procedures for granting the Outward Investment Certificate in accordance with the provisions of the Investment Law and this Decree.

– For projects subject to approval of the outward investment policy, the investor and the agency deciding on outward investment shall terminate the project and report to the agency. person with authority to approve investment policies abroad.