FDI Enterprises Re-register Investment Certificates

On September 21, 2006, Prime Minister Nguyen Tan Dung signed a decision to issue the Decree N⁰ 101/2006/ND-CP, stipulating the re-registration, the conversion and registration for a change of investment certificates of foreign invested enterprises in accordance with the Unified Enterprise Law and the Common Investment Law.

 

Accordingly, joint venture and 100 per cent foreign-owned enterprises with two and more owners shall be re-registered as liability limited companies with two or more members. Wholly foreign-owned enterprises owned by a foreign individual shall be re-registered as one member liability limited companies. Foreign-invested joint stock companies established under the Decree 38/2003/ND-CP shall be re-registered as joint stock companies.

 

Re-registered enterprises shall inherit rights and benefits and shall be responsible for payable debts, labour contracts and other obligations of them before their re-registration.

 

Also according to the decree, the registration for a change of investment certificates shall be implemented according to Article 88 of the Investment Law for projects developed in the form of business co-operation contracts and licensed before July 1, /2006.

Within seven working days, since the date of receiving valid documents, authorised agencies shall consider and grant investment certificates.