I. Current demand for advisory services on foreign investment dossiers in Vietnam

Submitting foreign investment dossiers in Vietnam has become a pressing need for many individual and institutional investors, especially as Vietnam increasingly integrates into the global economy and offers abundant investment opportunities. However, preparing and filing such dossiers requires investors to fully understand the legal conditions, administrative procedures, and specific requirements under Vietnamese law.

II. Legal provisions on foreign investment dossiers in Vietnam

1. Conditions for submitting foreign investment dossiers in Vietnam

According to Article 9 of the Law on Investment 2020, foreign investors must meet market access conditions, stated in the list of conditional business lines. In addition, Article 24 requires investors to register their investment if the investment takes the form of establishing an economic organization, contributing capital, purchasing shares, or entering into contracts.

Furthermore, investors must not fall under the prohibitions in Article 6, such as: Causing national defense or security, investing in prohibited sectors, or being under criminal investigation.

2. What documents are included in foreign investment dossiers?

A foreign investment dossier in Vietnam typically includes:

  • Application form for project implementation;
  • Certified copy of investor’s legal documents (passport, ID card, business license);
  • Investment project proposal (objectives, scale, capital, location, duration, etc.);
  • Copy of financial statements or financial support commitments;
  • For institutional investors: Notarized translations and consular legalization of relevant documents.

3. Authorities competent to handle foreign investment dossiers

Pursuant to Article 38 of the Law on Investment 2020, competent authorities include:

  • Department of Planning and Investment where the project is located (for projects not under the Prime Minister’s authority);
  • Management Boards of Industrial Zones, Export Processing Zones, High-Tech Zones (for projects within such areas);
  • The Prime Minister or the Ministry of Planning and Investment, for projects of special significance such as those involving national defense and security, seaports, airports, or large-scale mineral exploitation.

III. Questions on foreign investment dossiers in Vietnam

1. What is the processing time for foreign investment dossiers?

Under Article 38 of the Law on Investment 2020:

  • 15 working days from the date of receiving a valid dossier for issuance of the Investment Registration Certificate (IRC).
  • If specialized agency opinions are required, the duration may extend but not exceed 30 days.

2. Is consular legalization required for investment dossiers?

Documents issued by foreign authorities (e.g., business licenses, parent company charters, passports) must be consularly legalized to be recognized and used in Vietnam.

3. Must the investor be physically present to submit the dossier?

Foreign investors are not required to be physically present. They may authorize a law firm, consulting agency, or legal representative to file on their behalf. The power of attorney must be duly certified (notarized, authenticated, or consularly legalized if executed abroad).

4. Must foreign investment dossiers be submitted in Vietnamese?

According to Article 5 of Decree 31/2021/ND-CP:

  • Investment dossiers, documents and reports submitted to competent State agencies must be in Vietnamese.
  • If documents are in a foreign language, a Vietnamese translation must accompany them.
  • If documents are bilingual (Vietnamese and foreign language), the Vietnamese version prevails.
  • The investor is liable for inconsistencies between translations, copies, and originals.

Thus, while foreign language documents may be included, Vietnamese translations are mandatory for submission.

IV. Legal advisory services on foreign investment dossiers in Vietnam

To ensure compliance and mitigate risks in preparing foreign investment dossiers, seeking professional legal support is highly recommended. NPLaw offers comprehensive advisory services, including contract drafting, clarification of legal provisions, and assistance throughout procedural steps. Our all-round support saves time and ensures successful transactions.