Extend investment capital contribution period

After being granted the Investment Registration Certificate (“IRC”), the investor must contribute the full investment capital as registered to implement the project. Normally, the investment capital contribution period is 90 days from the date of being granted the Enterprise Registration Certificate (“ERC”) of the economic organization implementing the project. Contributing capital on time is considered extremely important because if the capital contribution period specified on the IRC is exceeded, the Bank will not allow the company to receive investment capital, and the company will not be able to receive investment capital to carry out its operations. Therefore, in case the investor cannot contribute capital on time, the investor must carry out the procedure to request an extension of the investment capital contribution period.

Extension of the investment capital contribution period is the procedure for recording a new capital contribution period on the Investment Registration Certificate when the investor is unable to make a capital contribution on time. In case the extension procedure is not carried out before the expiration of the investment capital contribution period, the investor may be subject to administrative penalties in the investment field.

Conditions for extending the investment capital contribution period:

• The investment capital contribution period is still valid until the time of submitting the extension application.
• In case of submitting an application for extension after the deadline for capital contribution, the enterprise may be subject to administrative penalties or may have its IRC revoked.

The application for extension of investment capital contribution period includes the following documents:

• An application form for adjustment of the investment project;
• A report on investment project’s progress by the time of adjustment;
• The investor’s decision on investment project adjustment;
• Explain the reason for adjusting the investment project (extending the capital contribution period);
• Copy of Decision on approval (adjustment) of investment policy or Decision on approval (adjustment) of investor or Decision on approval (adjustment) of investment policy at the same time as investor approval or IRC; copy of ERC;
• Documents related to adjustment: confirmation of contributed investment capital; proof of financial capacity for the investment capital that has not been fully contributed.

Some notes when extending the investment capital contribution period:

• In case the capital contribution deadline recorded on the IRC has expired and there is a request to work with the inspector regarding a violation of the capital contribution deadline, the investor needs to contact the inspector to carry out procedures related to administrative sanctions for violations of project progress. After completing the inspection and sanction procedures, the Investment Registration Authority will record an extension of the capital contribution deadline for the investor.
• The extension period for capital contribution is registered by the investor in the extension dossier. The Investment Registration Authority will consider the extension period based on the project's performance and record it in the IRC.
• Investors need to pay attention to checking the submission of full reports on investment project performance, project monitoring and evaluation reports according to regulations.

The charter capital of the project implementing organization must be fully contributed within 90 days from the date of business registration. In case the capital is not fully contributed after this period, it is necessary to register for adjustment of the charter capital with the business registration authority. Therefore, in case the investor has not fully contributed the capital, it is also necessary to register to change the charter capital of the enterprise in accordance with the provisions of the Law on Enterprises.