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Investment Registration

IP provides full supports to investor during this process

01

Discussion between IP and Investor

02

Principle contract between IP and Investor

03

Investor applies for Planning Certificate

04

Investor prepares application for Investment Certificate

- Technical - Economic explanation report.

- Environmental Impact Assessment Report or Environment Protection Undertakings

05

Investor submits application for Investment Certificate, including:

- Application form for Investment Certificate.

- Documents certifying the legal status of investor (consular legalized by Vietnamese authority).

- Technical - Economic explanation report.

- Basis design profile of project.

- Approval of IP for the technical - economic explanation report.

- Assessment result and approval for Environmental Impact Assessment Report or Environment Protection Undertakings.

06

Meeting of assessment for granting Investment Certificate

07

Nam Dinh Industrial Park Management Unit requests investor to revise and/or supplement documents (if required)

08

Investment submits the revised or supplementary document (if any)

09

Nam Dinh Industrial Park Management Unit grants Investment Certificate to Investor

Preferential tax policy

According to the Law of Corporate Income Tax no. 14/2008/QH12 dated 03/06/2008, revised and supplemented by the Law no.32/2013/QH13 dated 19/06/2013 and the Law no.71/2014/QH13 dated 26/11/2014

- Apply CIT rate of 10% for the period of 15 years on income of a company from execution of a project of investment in manufacturing ancillary product serving the manufacturing of the following industries: textile - garment; leather - footwear; electronic - IT; automobile manufacturing & assembling; mechanical engineering, provided they cannot be manufactured in Vietnam up to January 01, 2015, or can be manufactured in Vietnam and satisfy technical standards established by EU or the equivalent.

- The government shall compile the List of ancillary products given priority mentioned in Decree 111/2015/NĐ-CP.

- Incomes of enterprises from the execution of new projects of investment as above are eligible for tax exemption for no more than 4 years, and eligible for 50% reduction in tax for no more than the next 9 years.

The preferential import tax on imported goods under the provisions of the Law on Import Tax and Export Tax under Article 16 of Decree No. 118/2015/ND-CP and Article 14, Section 1 of Decree No. 134/2016/ND- CP.

- Investors are completely exempt from import tax on machinery as fixed assets. VAT (10%) will be refunded as soon as the plant comes into operation in accordance with Clause 11, Article 16 of the Law on Export Tax and Import Tax 2016;

Decision 68 / QD-TTg on supporting industry development from 2016 to 2025, focusing on components and spare parts; textiles - footwear; and high technology industry with the total capital of nearly 1000 billion dong; including support and promotion activities; governance; quality improvement of human resources; transfer of technological innovation and construction of information pages.

Decision 09/2017 / QĐ-UBND dated 11/4/2017 of the People's Committee of Nam Dinh province on the cost of training and the level of support for elementary level training, under-3-month training under Decision 46 / 2015 / QĐ-TTg dated 28/9/2015 of the Prime Minister

Visa and Employment

01

Duration of work visa in Vietnam: The maximum duration of a work visa is 1 year. In case the duration of work permit is below 1 year, the expiry date of work visa for foreigner will be the same as the expirty date of the work permit.

02

Laws and legal documents guiding the application for a long-term visa for foreigners

- Law No. 47/2014 / QH2013 - Law on Entry, Exit, Transit, Residence of Foreigners in Vietnam

- Circular No. 04/2015 / TT-BCA on form of visa application, temporary visa for foreigners

- Decree No. 11/2016 / NĐ-CP regulates in details the management of foreign workers and the granting of work permits to foreigners working in Vietnam.

03

Legal documents prepared for foreigners applying for work visa

- Business license/ Investment Certificate of the enterprise or organization

- Sealing sample certificate of the enterprise or organization

- Official letter of introduction of the seal, signature of authorized person of the organization

- Application for visa, extension of stay (NA5).

- Valid original passport as prescribed.

- A work permit or a work permit waiver for those who are exempt from a work permit

- Temporary residence book or temporary residence certificate of the foreigner

04

Submit application to Immigration Office

In Vietnam, the organization who submits the application for a long-term visa for foreigners carries out procedures at the Immigration Department or Immigration Office of the police department of the province or city where the enterprise locates their head office.

05

Time of processing application for a long-term visa: 05 working days from the date of submission of valid dossiers

Policy Mechanisms

According to the Law of Corporate Income Tax no. 14/2008/QH12 dated 03/06/2008, revised and supplemented by the Law no.32/2013/QH13 dated 19/06/2013 and the Law no.71/2014/QH13 dated 26/11/2014

- Apply CIT rate of 10% for the period of 15 years on income of a company from execution of a project of investment in manufacturing ancillary product serving the manufacturing of the following industries: textile – garment; leather - footwear; electronic - IT; automobile manufacturing & assembling; mechanical engineering, provided they cannot be manufactured in Vietnam up to January 01, 2015, or can be manufactured in Vietnam and satisfy technical standards established by EU or the equivalent.

- The government shall compile the List of ancillary products given priority mentioned in Decree 111/2015/NĐ-CP.

- Incomes of enterprises from the execution of new projects of investment as above are eligible for tax exemption for no more than 4 years, and eligible for 50% reduction in tax for no more than the next 9 years.

The preferential import tax on imported goods under the provisions of the Law on Import Tax and Export Tax under Article 16 of Decree No. 118/2015/ND-CP and Article 14, Section 1 of Decree No. 134/2016/ND- CP.

- Investors are completely exempt from import tax on machinery as fixed assets. VAT (10%) will be refunded as soon as the plant comes into operation in accordance with Clause 11, Article 16 of the Law on Export Tax and Import Tax 2016;

Decision 68 / QD-TTg on supporting industry development from 2016 to 2025, focusing on components and spare parts; textiles - footwear; and high technology industry with the total capital of nearly 1000 billion dong; including support and promotion activities; governance; quality improvement of human resources; transfer of technological innovation and construction of information pages.

Decision 09/2017 / QĐ-UBND dated 11/4/2017 of the People's Committee of Nam Dinh province on the cost of training and the level of support for elementary level training, under-3-month training under Decision 46 / 2015 / QĐ-TTg dated 28/9/2015 of the Prime Minister

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