The Investment Registration Certificate (IRC) is one of the essential documents required when implementing an investment project in Vietnam, especially for high-tech projects. Registering for an IRC not only helps enterprises comply with legal regulations but also opens up many opportunities to benefit from incentives and government support policies. Below, DNP Viet Nam Law Firm will assist clients in understanding the procedures and necessary conditions for registering an Investment Registration Certificate (IRC) for a high-tech project in Vietnam.
1. Conditions for Issuance of the Investment Registration Certificate (IRC)
According to Article 36 of Decree No. 31/2021/ND-CP, the conditions for issuing the IRC are as follows:
- The project must not fall under prohibited business lines or violate international investment treaties;
- A valid project implementation location must be identified;
- The project must be consistent with relevant planning;
- It must meet investment capital and labor criteria as required by the local authority (if applicable);
- It must comply with market access conditions applicable to foreign investors.
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2. IRC Application Dossier
According to Clause 1, Article 33 of the 2020 Law on Investment, the application dossier includes:
(1) A written request to implement the investment project;
(2) A copy of the ID card, citizen ID, or passport for individual investors; a copy of the Certificate of Establishment or other equivalent legal documents for institutional investors;
(3) An investment project proposal including: project implementer, investment objectives, scale, capital and capital mobilization plan, location, duration, implementation schedule, labor demand, proposed investment incentives, and evaluation of the project’s socio-economic impacts;
(4) A copy of one of the following documents: the investor’s financial statements for the last two years; commitment of financial support from the parent company; commitment of financial support from a financial institution; guarantee for the investor’s financial capacity; or explanation of the investor’s financial capacity;
(5) Proposal for land use; if the project does not request land allocation, land lease, or land use purpose conversion from the State, a copy of the lease agreement or other documents proving the investor’s right to use the project site must be submitted;
(6) Technology explanation for projects specified in Point b, Clause 1, Article 32 of the 2020 Law on Investment, including: technology name, origin, process diagram, main technical parameters, usage status of machinery, equipment, and main technological lines;
(7) BCC contract (if the project is implemented in the form of a BCC contract).
3. IRC Registration Process and Method
3.1 IRC Registration Process
According to Article 38 of the 2020 Law on Investment, the process for registering an Investment Registration Certificate (IRC) is as follows:
Step 1: The investor submits an application for IRC issuance;
Step 2: The investment registration authority reviews the application to verify compliance with legal requirements and may request additional documents if necessary;
Step 3: The investment registration authority issues the IRC to the investor or notifies the investor via the System that the conditions for IRC issuance have been met;
Step 4: The investor submits a hard copy of the investment application dossier along with a printed receipt to the investment registration authority, either in person or by post, for comparison with the online submission;
Step 5: The investment registration authority issues the IRC to the investor.
3.2 Method of Submission and Processing Time
Method of submission:
- In person at the investment registration authority
- Online via the National Investment Information System
4. Notes for High-Tech Projects
- Criteria for high-tech projects: Must meet the high-tech criteria prescribed by the Ministry of Science and Technology;
- Time of submission: Can be submitted once the project has fully met all prescribed criteria.
The information above is for reference only. If you require further details, please contact us using the information below.
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