Reporting obligations after being granted an outbound investment license and foreign exchange registration confirmation 

Legal basis 

• Investment Law No. 61/2020/QH14; 

• Decree 29/2021/ND-CP stipulates the order and procedures for appraisal of projects of national importance and investment supervision and assessment; 

• Decree 31/2021/ND-CP guiding the implementation of a number of articles of the Law on Investment; 

• Decree 122/2021/ND-CP stipulating penalties for administrative violations in the field of planning and investment; 

• Circular 25/2023/TT-BKHDT guiding the form of outward investment report; 

• Circular 05/2023/TT-BKHDT regulating the form of investment supervision and assessment report; the regime of online reporting and management of the operation of the information system on supervision and assessment of investment in investment programs and projects using state capital; 

• Circular 12/2016/TT-NHNN guiding foreign exchange management for outward investment activities;

• Decree 88/2019/ND-CP stipulates penalties for administrative violations in the field of currency and banking. 

In the context of deepening international economic integration, the outward investment activities of Vietnamese organizations and individuals have increased sharply. However, along with being licensed for investment, investors are also responsible for implementing a periodic and irregular reporting system to competent state agencies. The following article will present in detail the reporting system that needs to be implemented after being granted an outward investment registration certificate and confirming foreign exchange registration from the State Bank of Vietnam. 

I. Obligation to report to the Ministry of Finance

After receiving the outward investment registration certificate, the investor is obliged to make the following types of reports: 

1. Notification of the implementation of overseas investment

• Deadline: Within 60 days from the date the foreign authority approves the investment project. 

• Dossier to be submitted: Notice of implementation of overseas investment activities (form B.I.11 of Circular 25/2023/TT-BKHDT), and a copy of the investment approval or documents proving the right to operate investment in the host country. 

• Receiving agencies: The Ministry of Finance, the State Bank of Vietnam, and Vietnamese representative missions in the host country. 

2. Periodic reports 

2.1. Quarterly reports  

• Deadline: Before the first 10 days of the next quarter. 

• Dossier to be submitted: Quarterly report on the operation of overseas investment projects (form B.III.1 of Circular 25/2023/TT-BKHDT).

• Receiving agencies: The Ministry of Finance, the State Bank of Vietnam, and Vietnamese representative missions in the host country.

2.2. Annual report 

• Deadline for submission: Before March 31 of the following year of reporting. 

• Dossier to be submitted: Annual report on the operation of overseas investment projects (form B.III.1 of Circular 25/2023/TT-BKHDT).

• Receiving agencies: The Ministry of Finance, the State Bank of Vietnam, and Vietnamese representative missions in the host country.

3. Annual financial statements and tax finalization

• Deadline for payment: Within 06 months from the date of issuance of the tax finalization report or a document of equivalent legal validity in accordance with the law of the host country. 

• Dossier to be submitted: Report on outward investment activities for the fiscal year (form B.III.3 Circular 25/2023/TT-BKHDT) enclosed with financial statements, tax finalization reports or documents of equivalent legal validity in accordance with the law of the host country. 

• Receiving agencies: The Ministry of Finance, the State Bank of Vietnam, and Vietnamese representative missions in the host country. 

4. Periodic supervision and assessment reports 

4.1. 6-month monitoring and assessment reports 

• Deadline: Before July 10 of the reporting year. 

• Dossiers to be submitted: Periodic supervision and assessment report during the investment implementation period (form 13 of Circular 05/2023/TT-BKHDT) and periodic supervision and assessment report during the exploitation and operation stage (form 17 of Circular 05/2023/TT-BKHDT). 

• Receiving agencies: the Ministry of Finance, the State Bank of Vietnam, the representative agency of the state owner, the provincial-level People’s Committee, the Department of Finance of the locality where the investor is headquartered and the Vietnamese representative mission in the host country. 

4.2. Periodic supervision and assessment reports for the whole year 

• Deadline for submission: before February 10 of the following year. 

• Dossiers to be submitted: Periodic supervision and assessment report during the investment implementation period (form 13 of Circular 05/2023/TT-BKHDT) and periodic supervision and assessment report during the exploitation and operation stage (form 17 of Circular 05/2023/TT-BKHDT). 

• Receiving agencies: the Ministry of Finance, the State Bank of Vietnam, the representative agency of the state owner, the provincial-level People’s Committee, the Department of Finance of the locality where the investor is headquartered and the Vietnamese representative mission in the host country. 

4.3. Reports on supervision and assessment before project adjustment 

• Deadline for submission: when adjusting the project, the investment registration certificate must be adjusted. 

• Dossier to be submitted: Report on supervision and assessment before adjusting the investment project (form 15 of Circular 05/2023/TT-BKHDT). 

• Receiving agencies: the Ministry of Finance, the State Bank of Vietnam, the representative agency of the state owner, the provincial-level People’s Committee, the Department of Finance of the locality where the investor is headquartered and the Vietnamese representative mission in the host country. 

5. Forms of submission of reports

Online submission via the National Information System on Outward Investment: https://vietnaminvest.gov.vn either https://fdi.gov.vn or directly to the receiving agencies.  

II. Reporting obligations to the State Bank of Vietnam

In addition to the Ministry of Finance, investors must also fully fulfill reporting obligations related to foreign exchange management in accordance with the regulations of the State Bank – Report on capital transfer (quarterly). 

• Deadline: No later than the 5th day of the first month of the next quarter immediately following the reporting quarter. 

• Dossier to be submitted: Appendix 05 – Circular 12/2016/TT-NHNN. 

• Receiving agency: State Bank’s branch in the province or city where the investor is not a credit institution headquartered or where the investor is an individual registering for permanent residence or where other investors register their business.

III. Handling of violations of reporting obligations 

1. Violations against reporting to the Ministry of Finance

According to Decree 122/2021/ND-CP, investors can be sanctioned as follows: 

2. Violations against reporting to the State Bank of Vietnam 

According to Decree 88/2019/ND-CP, violations of foreign exchange reporting can be sanctioned as follows: 

The full fulfillment of reporting obligations after being licensed for outward investment is a core factor to ensure the transparency, legality and efficiency of investment activities. Businesses need to pay special attention to each timeline, form and receiving agency to avoid unnecessary legal risks. 

Investors also need to regularly update new regulations, especially detailed guiding circulars of the Ministry of Finance and the State Bank, to promptly adjust the process of implementing reports in each phase of the project. 

Date Written: 20/07/2025

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