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Adjusting the Investment Certificate for foreign company in Vietnam

Adjusting the Investment Certificate for foreign company in Vietnam: It is our understanding that the foreign company in Vietnam intends to adjust its Investment Certificate for
(1) Changing its Director;
(2) Moving its head office;
(3) Converting its oversea loan amount of 500,000 USD to registered capital of the Company.

SBLaw would like to provide some information as follows:

(1) Changing its Director
In case the Director cum Legal Representative of the Company and Authorized Representative of Investor to manage the registered capital in the Company, the Company must prepare the Application Dossier for changing Legal Representative, Authorized Representative.

(2) Moving its head office
In case the head office of the company will be moved to another district, as a result, the company seal will be changed.

(3) Converting its oversea loan amount of 500,000 USD to registered capital of the Company
In order to convert loan amount to registered capital, the duration of loan agreement should be the short term and this term has not yet come to the end.

The roadmap for implementation of the above works can be described in following steps as follows:

- Preparing the application dossier: SBLaw shall collect necessary information and documents from you. Upon receipt of necessary information and documents from you, we shall translate documents from English into Vietnamese and prepare the application dossier under the standard forms. The initial drafted application dossier shall be sent to you for your comments. Then, after updating the application dossier based on your comments, we shall obtain the preliminary comments from the competent authority and send the finalized application dossiers for you to sign and seal. We anticipate that this phase shall be completed within 10 working days.

- Submission of application dossier: Within 02 working days from receipt of duly signed and sealed application dossier, we shall submit the application dossier to the competent authority.

- Licensing Process: Within 30 working days, we will obtain the Amended Investment Certificate. Please be noted that this time schedule excludes time for explanation and supplementation and time for obtaining the approval relating to the conversion of the loan to the registered capital from competent authorities

- Post licensing: Within 13 working days from completion of respective Licensing Process we shall complete the post licensing procedures such as publishing the information of the Amended Investment Certificate, notice the change contents to tax authority, making new seal (if any).

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