Difference between investment licenses and investment certificates

Investment licenses and investment certificates: Are they different?

Clause 1, Article 77 of the Law on Investment 2020 prescribes that:

1. Investors that are granted investment licenses, investment incentive certificates, investment certificates or investment registration certificates before the effective date of this Law may implement investment projects under such licenses or certificates.

Besides, Clause 1, Article 74 of the Law on Investment prescribes that:

Investors that have obtained investment licenses or investment certificates for their investment projects before the effective date of this Law may continue implementing these projects in accordance with such licenses or certificates.  If so requested by investors, investment registration agencies may change these investment licenses or certificates into investment registration certificates for these investors.

Basing on above regulations, investment licenses, investment incentive certificates, investment certificates or investment registration certificates are the one.
 

What project must be granted with investment certificates?

In accordance with the Clause 1, Article 37 of the Law on Investment 2020, cases for which procedures for grant of investment registration certificates are required:

1. Investment projects of foreign investors;

2. Investment projects of the economic organizations in the following cases:

- Having over 50% of their charter capital held by a foreign investor/foreign investor, or having a majority of their general partners being foreign individuals, for partnerships;

- Having over 50% of their charter capital held by economic organizations having a foreign investor/foreign investor, or having a majority of their general partners being foreign individuals, for partnerships having over 50% of their charter capital;

a/ Having over 50% of their charter capital held by a foreign investor/foreign investor, or having a majority of their general partners being foreign individuals, for partnerships having over 50% of their charter capital;

Contents of the investment certificate

In accordance with the Article 40 of the Law on Investment 2020, the investment certificates include:

- Name of the investment project.

- The investor.

- Code of the investment project.

- Project implementation site; to-be-used land area.

- Objectives and scope of the investment project.

- Investment capital of the investment project (including capital contributed by the investor and mobilized capital).

- Operation duration of the investment project.

- Investment project implementation schedule, covering:

+ Capital contribution and mobilization schedule;

+ Schedule of achievement of major operational objectives of investment project. If the investment project is to be implemented in different stages, the certificate must specify the implementation schedule of each stage.

- Investment incentives and supports (if any) and bases and conditions for application thereof.

- Conditions on the investor implementing the project (if any).