What are the conditions for using investment profits to reinvest abroad?
According to Article 19 of Circular 12/2016/TT-NHNN stipulates as follows:
“Use profits to reinvest in projects abroad
1. Investors who use profits earned from investment activities abroad to increase capital and expand investment activities abroad must carry out procedures to adjust the Certificate of investment registration abroad at competent Vietnamese agencies in accordance with current laws on offshore investment and must submit a written report to the State Bank within 30 (thirty) days from the date of issuance of the Registration Certificate. Signed for overseas investment adjustment.
2. In case of using profits earned from an investment project abroad to implement another investment project abroad, the investor must carry out procedures for granting an Outward Investment Registration Certificate for the project. that investment project and must register foreign exchange transactions related to overseas investment activities with the State Bank according to the provisions of Chapter III of this Circular."
Accordingly, to use investment profits abroad to reinvest, investors need to carry out the following procedures:
+ Adjust the Certificate of outward investment registration at a competent Vietnamese agency according to current laws on outward investment;
+ Must have a written report to the State Bank within 30 (thirty) days from the date of issuance of the adjusted Certificate of Outward Investment Registration.