During the implementation of investment projects in Vietnam, investors need to promptly review and carry out procedures for extending the project’s operating period to avoid legal risks such as penalties for late adjustments or project revocation. In this process, the investment registration authority will also review relevant legal issues during project implementation.
With extensive experience and expertise, VPL assists investors in effectively handling the extension procedure, minimizing legal risks and ensuring the best protection of investors’ rights.
Benefits of using VPL’s service
In-depth consultation on extension conditions
VPL provides detailed advice on the necessary conditions for project operation period extension, helping investors prepare complete and valid documents.
Improved effectiveness in explanations
VPL advises on explanation plans based on the project’s actual status, enhancing both the persuasiveness and effectiveness of explanations to the authorities.
Prevention of legal risks
VPL reviews the compliance status with regulations on environment, fire prevention and fighting, construction, and the actual implementation progress of the project compared to the Investment Registration Certificate. Based on this assessment, we provide comprehensive advice on all related project matters before officially proceeding with legal procedures at the competent authorities, in order to help the enterprise mitigate potential risks.
Long-term strategic consultation
Beyond handling administrative procedures, VPL also provides comprehensive long-term investment strategy consultation, helping businesses consider legal and economic factors to realign project objectives during the extension period.
Post-service support
After completing the procedure, VPL continues to support clients by monitoring and reminding them of the new schedule and deadlines, advising on regulations that may affect project operations, and providing advisory support for adjustments to related documents.
Scope of VPL’s services
Consultation on conditions and extension procedures: Assess the feasibility of extending the project based on current legal regulations, and provide detailed, comprehensive advice on the extension procedure as well as related legal matters of the project.
Dossier preparation: Prepare the application for project adjustment, project implementation report, investor resolutions and meeting minutes, explanation documents, and other related materials.
Submission and liaison with competent authorities: Represent clients in submitting the dossier and providing explanations to the competent authorities.
Monitoring and receiving results: Monitor the processing of the dossier and collect the results from the competent authorities.
Post-extension consultation: Support clients in fulfilling legal obligations after the extension has been granted.
Service provision process
Step 1: Receive request
Receive information from the client and provide detailed consultation based on the legal documents provided.
Step 2: Prepare documents
Prepare the application dossier and guide the client in compiling the required documents
Step 3: Submit application
Submit the application for adjustment of the Investment Registration Certificate to the Department of Finance or the Management Board of Industrial Zones.
Step 4: Site survey
Conduct a site survey of the project and provide advice on relevant issues prior to hosting the inspection team.
Step 5: Inspection
Host the inspection team to review the project implementation, or represent the client in meetings and explanations with the Department of Finance or the Management Board of Industrial Zones.
Step 6: Receive results and handover
Obtain the amended Investment Registration Certificate reflecting the extended project duration and deliver it to the client.
Frequently asked questions
When should the project activity extension procedure be carried out?
Investors are advised to carry out the project activity extension procedure at least six months before the current project duration expires to ensure uninterrupted business operations.
What are the conditions for extending the project duration?
The project must be operating legally, in compliance with the law, and meet the conditions stipulated under the Investment Law and its guiding regulations.
What documents are required to apply for a project duration extension?
The required documents include:
– Supporting documents justifying the extension, such as the competent authority’s decision on extending land use, the Land Use Right Certificate, lease contracts, etc.
– Certified copy of the Investment Registration Certificate.
– Certified copy of the Enterprise Registration Certificate.
– Photocopy of the most recent annual financial statements with the company’s seal at the top left corner (for FDI enterprises, audited financial statements are required)
VPL will prepare the complete dossier for submitting the project activity extension application.
How long does it take to process the project duration extension application?
The processing time is usually 30–35 working days from the date the valid dossier is received (not including time for penalties if the enterprise has violations during project implementation).
Can the project duration be extended multiple times?
Yes, but the total project duration after all extensions must not exceed the maximum period permitted by law (usually 50 years, or 70 years in certain special cases).
Will there be penalties if the extension is not applied on time?
Yes, if the project continues operations after the expiry date without an extension, the investor may be subject to administrative penalties under the law, and the project may be revoked.
Does VPL support extensions for projects with foreign investment?
Yes, VPL has experience in supporting extensions for projects with foreign investment, ensuring full compliance with the law.
After the extension, is it necessary to adjust other related documents?
It may be necessary to adjust related documents, such as construction permits or land use right certificates, depending on the scope of the extension. VPL will provide tailored advice for each case.
Get more support
If you are in need of a reputable legal consultancy unit, effective and dedicated companion in every legal issue, do not hesitate to contact VPL today!
Hotline
Direct legal advice
0274 650 7999
