Are foreign investors who want to establish innovative startups in Vietnam required to carry out procedures to apply for an Investment Registration Certificate in advance?
Based on Article 22 Investment Law 2020 on investment in establishing economic organizations:
Investing in establishing economic organizations
1. Investors establish economic organizations according to the following regulations:
a) Domestic investors establish economic organizations according to the provisions of law on enterprises and laws corresponding to each type of economic organization;
b) Foreign investors establishing economic organizations must meet the market access conditions for foreign investors specified in Article 9 of this Law;
c) Before establishing an economic organization, foreign investors must have an investment project and carry out procedures for granting and adjusting the Investment Registration Certificate, except in the case of establishing small and medium-sized enterprises. creative enterprises and creative start-up investment funds according to the provisions of law on supporting small and medium-sized enterprises.
2. From the date of issuance of the Business Registration Certificate or other documents of equivalent legal value, the economic organization established by the foreign investor is the investor implementing the investment project according to regulations. specified in the Investment Registration Certificate.
Therefore, before establishing an economic organization, foreign investors must have an investment project and carry out procedures for granting an Investment Registration Certificate, except for cases where foreign investors establish small businesses. and both creative start-ups and creative start-up investment funds according to the provisions of law on supporting small and medium-sized enterprises do not have to go through this procedure.
In other words, if you are a foreign investor establishing a small and medium-sized enterprise operating in the field of creative startups in accordance with the criteria prescribed by law, before establishing a business organization, In reality, it is not required to carry out procedures for granting an Investment Registration Certificate.
In case you establish a business in the field of creative startups and are not a small and medium-sized enterprise, you are required to carry out procedures for granting an Investment Registration Certificate according to the provisions of law.