EXTENSION OF CAPITAL CONTRIBUTION PERIOD
Join ABA VISA to learn about extending the capital contribution period for investors through the article below:
Foreign Capital Company A foreign capital company, after being granted an Enterprise Registration Certificate and an Investment Certificate, must carry out the procedures for fully contributing capital as committed within 90 days (3 months) or the time limit committed with the licensing agency. In case of not yet contributing or not fully contributing, the Investor must carry out procedures for notification of extension of capital contribution period before the expiration of the registered time limit.
Legal grounds
Investment Law 2014 Enterprise Law 2014 Decree 118/2015/ND-CP stipulating procedures for adjusting/extending investment capital contribution time.
Decree 50/2016/ND-CP on administrative sanctions related to the field of investment capital contribution.
Circular 16/2015/TT-BKH&DT on application form for extension of investment capital.
👉 Commitment to full capital contribution time as registered After being licensed by the competent authority. Investors must carry out the procedures for opening an investment account at a bank operating in Vietnam.
Investors must contribute the full amount of capital as committed on the Investment Certificate. At the end of the time limit as committed, investors who have not contributed or have not contributed enough must carry out the procedures to apply for an extension of the time limit for capital contribution mentioned above. Penalties for late contribution of investment capital at the expiration of the time limit According to Clause 3, Article 28 of Decree 50/2016/ND-CP on penalties for administrative violations in the field of Planning and Investment.
👉 A fine of 10TR - 20TR for the case of not contributing enough capital as committed. Sanction the company that does not carry out the procedures for adjusting/extending the time for investment capital contribution According to Point b, Clause 4, Article 13 of Decree No. 50/2016/ND-CP, a fine of between 20TR and 30TR for the case of expiration of the time limit for contribution. investment capital but do not carry out registration procedures for adjustment of investment projects to the licensing agency.
Procedures for extending investment capital contribution period
DOCUMENTATION REQUIRED FOR EXPANDING CAPITAL CONTRIBUTION TIME:
🔹 Written request for adjustment of investment project.
🔹 Report on project implementation status.
🔹 Investor's decision on the change.
🔹 Documents proving the capital contribution in case of insufficient capital contribution.
🔹 Papers proving financial capacity in case of not yet contributing.
Time limit for settlement of CAPITAL CONTRIBUTION TIME extension: 10-15 working days.
NOTE:
In case you are not knowledgeable about the procedure and have not thoroughly analyzed your violations. The ABA Law does not encourage companies to make their own records to avoid the case that the dossiers are transferred to the Department Inspector and issued a sanctioning decision.
Service of changing investment license at Law of ABA provide all services to extend the capital contribution period.
When using services at ABA Law, Investors will be advised of relevant plans as well as plans to minimize the highest risks for the Company. please contact Hotline 0938165817 for advice and a specific quote on the procedure for extending the CAPITAL CONTRIBUTION TIME.
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