PROCEDURES OF FOREIGN INVESTMENT IN THE FORM OF JOINT VENTURE
Not only the foreign investment be approval for direct invest in the form of economic organizations with 100% foreign capital, but also foreign investors can invest indirectly through Joint ventures with domestic and foreign partners.
- Forms of indirectly investment according to the current law:
1. Making investment by contributing capital, buying shares, or buying capital contributions of bussiness organizations
An investor shall follow the register the capital contribution, purchase of shares, or capital contributions in the following case:
+ The investor contributes capital, buy shares or capital contributions of bussiness organizations engaged in business lines subject to conditions applied to foreign investors;
+ 51% of charter capital of the business organization or more is held by foreign investors and/or business organizations after the captital is contributed, or shares/capital contributions are purchased;
+ A copy of the ID card or passport ( if the investor is an individual).
+ A copy of the Certificate of establishment or an equivalent paper the certificates the legal status of investor (if the investors is an organization).
2. Investment under PPP contracts
Investors and project management companies shall sign PPP contract with competent authorities and execute an invesment project to build new infrastructural works, to improve, upgrade, expand, manage, and operate infrastructural works, or to provide public services.
3. Investment under business cooperation contracts
+ Business cooperation contracts signed between Vietnamese investors are executed in accordance with cival laws.
+ Procedures for issuance of Certificates of investment registration shall apply to business cooperation contracts signs between a Vietnamese investor with a foreign investor, or between foreign investors.
+ Parties to a business cooperation contract shall establish a steering board to execute BBC. Function, tasks, powers of the steering board shall be agreed by the parties.
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