Opening an account of outward investment capital

Article 63. Opening an account of outward investment capital

bookkeeping-vinasc3Transfer of money from Vietnam to abroad and from abroad to Vietnam pertaining to outward investment must be made via a separate account opened at a permissible credit institution in Vietnam and registered at the State bank of Vietnam in accordance with regulations of law on foreign exchange management.

Article 64. Transfer of outward investment capital

1. An investor may transfer outward investment when the following conditions are satisfied:

a) The Certificate of outward investment registration is granted, except for the case in Clause 3 of this Article;

b) The investment has been approved or licensed by a competent authority of the host country. If the host country’s law does not cover investment licensing or approval, the investor must provide documents proving his/her right to make investment in that country;

c) There is a capital account as prescribed in Article 63 of this Law.

2. The transfer of outward investment capital Outward must comply with regulations of law on foreign exchange, export, technology transfers, and relevant regulations of law.

3. Investors may transfer foreign currencies, goods, machinery and equipment to abroad to serve market survey, research, and other investment preparation prescribed by the Government.

Article 65. Transferring profit to Vietnam

bookkeeping-vinasc11. Within 06 months from the day on which the annual tax declaration or an equivalent document is available as prescribed by the host country’s law, the investor transfer the entire profit and other incomes derived from overseas investment to Vietnam, unless profit is used for overseas investment as prescribed in Article 66 of this Law.

2. If the profit and other incomes are not transferred to Vietnam within the time limit prescribed in Clause 1 of this Article, the investor shall submit a written report to the Ministry of Planning and Investment and the State bank of Vietnam. The deadline for transferring profit to Vietnam shall be extended not more than twice, each extension shall not exceed 06 months and must be approved in writing by the Ministry of Planning and Investment.

Article 66. Use of profit for overseas investment

1. The investor that uses profit derived from overseas investment to increase capital, expand overseas investment shall follow procedures for adjusting the Certificate of outward investment registration and submit a report to the State bank of Vietnam.

2. If profit derived from the overseas project is used for another overseas project, the investor shall follow procedures for the Certificate of outward investment registration of such project, register a capital account and monetary capital transfer schedule with the State bank of Vietnam.