On transferring 100% capital of foreign investors to Vietnamese

INVESTMENT LAWYER

On transferring 100% capital of foreign investors to Vietnamese

Mr. A: Hello, My wife and I established The Limited liability companies with two members with 100% foreign capital (Investment Certificate issued in 2010). My wife and I are Australian. We are also the owner of the capital contribution. At present, we would like to transfer all capital contributions to 2 Vietnamese people. Whether Vietnamese law allows it or not. In case this thing is permitted by law, how to proceed? Thank you.

On transferring 100% capital of foreign investors  to Vietnamese
On transferring 100% capital of foreign investors to Vietnamese

The lawyer replied:

On the problem that you asked, we would like to answer as follows:

1. Legal basis:

Investment Law 2014

Decree 118/2015 / ND-CP

2. Legal advice:

a) Procedure orientation:

The case of your company is the transfer of capital of foreign investors to Vietnamese – the case permitted by Vietnamese law to do.

You noted that because your Investment Certificate was issued before 2014 (videlicet in 2010), the Investment Certificate is also the Business Registration Certificate. Accordingly, the procedure  determined is changes of the business registration content on the Investment Registration Certificate.

b) Procedure:

Step 1: The company prepares a set of documents to change the company’s membership as for a company with 100% Vietnamese capital and submits it to The Business Registration Office.

Step 2: After obtaining the Business Registration Certificate, notify the change of business registration to The Investment Registration Office.

c) Documents to be prepared:

Investment certificates

Personal testimonials of the founding members

Minutes of meetings of the Members’ Council

Decision of the Members’ Council

Contribution capital transfer contract

d) Implementation duration:

15 days

e) Fees:

150,000 VND.

LUAT SU RIENG (LSR) LAW FIRM

Address: no. 16 Nguyen Quy Canh Street, An Phu Ward, District 2, Ho Chi Minh City

Hotline: 1900252503. Press No. 1

Email: i[email protected]

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