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blue-check Regarding conditions to acquire shares being investment project of a foreign investor

Official letter No. 746/BKHDT-DTNN dated February 10th, 2020 of the Ministry of Planning and Investment regarding reply to proposal of Hantrung Vina Company Limited
Posted: 14/8/2020 2:11:02 PM | Latest updated: 27/8/2020 2:57:55 PM (GMT+7) | LuatVietnam: 5028 | Vietlaw: 473
VietlawOnline

According to the Schedule of Specific Commitments in Services of Vietnam in the WTO, foreign investors are allowed to provide construction services in Vietnam if they are juridical persons of a WTO Member.

In addition, this business line is subject to investment conditions with regard to foreign investors (Clause 1 Article 10 of Decree No. 118/2015/ND-CPstatus2 ).

Accordingly, in case an investor being a foreign individual (he/she has nationality of a WTO Member) acquires the whole shares in Vietnam of a foreign – invested company to execute a construction project, the investor has to carry out procedures for registration of capital contribution, purchase of shares according to Clause 3 Article 46 of Decree No. 118/2015/ND-CPstatus2 .

Conditions must be met when an investor transfers the whole or part of a project to other one are regulated in Clause 1 Article 45 of 2014 Law on Investment.

Ms Phuong Thao (VietlawOnline.com)
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PublishedVietlaw's Newsletter No. 473
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