COMPANY V.T INVESTS OVERSEA TO CAMBODIA
One contruction company wants to invest in Cambodia, what should they prepare the conditions and carry out the procedures? Aplus Law has consulted and successfully addressed the client’s request.
V.T is a construction business company, now wants to invest in the same field subsidiary in Cambodia. The company has been advised by Aplus Law and representatives of investment procedures in Cambodia.
Legal issues that Aplus Law must address for clients:
– Conditions of investment abroad
– Procedure for foreign investment
Aplus Law has advised the conditions that V.T. Companies need to secure, including:
– There are financial resources to make the investment
– No tax debt
– The investment sector is not prohibited from investing abroad
The procedure for investing abroad, V.T. Company must take three steps as follows:
– Step 1: Register overseas investment with the Ministry of Planning and Investment
– Step 2: Apply to establish a company at the business registration office of Cambodia
– Step 3: Register an overseas investment bank account with the State Bank of Vietnam
The dossier of V.T. Company needs to provide for A+ attorneys to authorize the implementation of procedures including:
– A copy of the company’s business registration certificate
– Company financial statements last year
– Confirmation of the bank selling foreign currency
– Confirmation of non-corporate income tax debt by the tax administration authority
The incident has a problem that V.T. Company’s outbound investment is larger than the capital at its latest fiscal year report. The Ministry of Investment Planning will consider not satisfying financial conditions to invest abroad. After studying the dossier, Aplus Law advised V.T. to increase charter capital and to confirm the balance of the company’s bank account to prove the source of capital.
As a result, V.T has successfully applied for an investment permit abroad.