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Legal update June 2017
- Cooperation mechanism for investment registration and enterprise registration
This is the content to be guided in Circular No. 02/2017/TT-BKHĐT on guiding the mechanism for cooperation in processing of applications for investment registration and enterprise registration submitted by foreign investors. Whereby:
- The investor that applies for investment registration and enterprise registration is entitled to decide whether to apply the cooperation mechanism stipulated in this Circular or follow the separate procedures under regulations of law.
- The investor shall prepare the application and be legally responsible for the legality, truthfulness and accuracy of the information declared in the application for investment registration and enterprise registration.
- When applying the cooperation mechanism, the investor shall only submit one copy of the following documents if it is required in both the application for investment registration and the application for enterprise registration:
- The passport or personal identification papers with the same value as a passport if the investor is an individual;
- The Decision on establishment or the Enterprise Registration Certificate or papers with the same value as these documents if the investor is an organization;
- The document authorizing another entity to follow procedures for investment registration and/or enterprise registration.
Circular 02/2017 / TT-BKH becomes effective from June 15th 2017.
- Amendments to the List of high technologies given priority and the List of recommended hi-tech products
Decision No. 13/2017/QD-TTg amending the list of high technologies prioritized for development investment and the list of hi-tech products to be encouraged for development together with Decision 66/2014/QD-TTg dated 15th of June 2017. Whereby:
Adding 04 types of high technologies are given priority in development investment:
- Internet of Things (IoT);
- Virtual reality; Augmented reality;
- Smart television;
- 3D printing.
Adding 16 high – tech products which are encouraged to develop such as:
- Embedded IoT solutions, modules, equipment, software;
- Virtualization and cloud computing software, equipment, solutions and services;
- Virtual reality and augmented reality software, equipment, solutions and services;
- Smart television software, equipment, solutions and services;
- Automatic software testing software, equipment, solutions and services; and others as prescribed in the Decision No.13/2017/QD-TTg.
This Decision becomes effective from 15th of June 2017.
- Regulations on grant of land levy exemption to investors in economic zones
Decree No. 35/2017 / ND-CP stipulating the regulations on the exemption of land use in the economic zones shall be effected as follows:
The investors who implement housing construction projects for workers according to the approved plan on land allocated by the State with collection of land levy in economic zones are entitled to exemption of land levy.
- The investor who has land allocated by the State shall carry out procedures for land levy exemption as follows:
- The investor shall submit the application for land levy exemption as prescribed in Point b Clause 1 Article 7 of this Circular to the Economic Zone Authority within 10 days from the date on which the Decision on land allocation is granted.
- Within 15 working days from the receipt of the valid application for land levy exemption, the Economic Zone Authority shall consider the application and promulgate a decision on grant of land levy exemption to the investor as regulated by law.
Decree No. 35/2017/ND-CP becomes effective from 20th June 2017.
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