Vietnam Laws - Foreign-invested project must have Investment License before February 01, 2014
On June 20, 2013, the XIIIth National Assembly approved formally the Law on amending and supplementing the Article 70 of the Law on Enterprise, promulgating the enterprises established before July 01, 2006.
Within that, the Foreign-invested enterprises established before July 01, 2006 whose operational duration expired prescribed in the Investment Licenses after July 01, 2006, and not yet implement procedures for enterprise dissolution and have proposal for further operation, must re-register before February 01, 2014 under Government’s conditions. In this case, the re-registration takes effect on the expiry date of operation stated in the investment licenses;
In the case that enterprises do not make re-registration; the enterprises shall only be allowed to get management and activity organization within the investment licenses and enterprise charter. For contents not specified in Investment Licenses and enterprise charter, enterprises shall comply with provisions of this Law and relevant laws. Enterprises are entitled to adjust, supplement business lines in case of having no changes in operation prescribed in the Investment Licenses; amendments and supplementation of business lines shall comply with the law provisions at the time of amendment and supplementation.This Law takes effect on August 01, 2013.
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