For foreign investors entering Vietnam, one of the first practical questions is: after submitting the application, how long until the Investment Registration Certificate (IRC) is issued? The current answer depends on the case: 05 working days (projects with in-principle investment approval), 10 working days (projects not subject to in-principle approval), 15 working days (special investment procedures in industrial parks, export processing zones, high-tech parks and economic zones) — under Decree 96/2026/ND-CP.
The new framework: the 2025 Investment Law
The Investment Law No. 143/2025/QH15, passed by the National Assembly on 11 December 2025 and effective from 1 March 2026, replaces the entire Investment Law No. 61/2020/QH14. A key change: the 2025 Law does not directly set an IRC issuance deadline; instead, it delegates the conditions, dossiers, procedures and processes for IRC issuance to the Government (Article 26(5)).
On issuing authority, Article 27 provides: the management board of the industrial park / export processing zone / high-tech park / economic zone (for in-zone projects); the Department of Finance (for out-of-zone projects); or the investment registration authority where the investor locates (or plans to locate) its operating office (for multi-province or mixed in-zone/out-of-zone projects).
IRC issuance timelines under Decree 96/2026/ND-CP
Decree 96/2026/ND-CP dated 31 March 2026 of the Government detailing and guiding the implementation of several articles of the 2025 Investment Law has been issued and is in effect, replacing Decree 31/2021/ND-CP.
Accordingly, the current IRC issuance timelines are:
- 05 working days from receipt of the written request — for projects that have already obtained in-principle investment approval (Article 38 of Decree 96/2026/ND-CP);
- 10 working days from receipt of a valid dossier — for projects not subject to in-principle investment approval (Article 39 of Decree 96/2026/ND-CP);
- 15 working days from receipt of the dossier — for projects under special investment procedures in industrial parks, export processing zones, high-tech parks and economic zones (Article 47(5)(b) of Decree 96/2026/ND-CP).
Note: the 15-day period under Article 38 of the 2020 Investment Law no longer applies — the 2020 Law expired on 1 March 2026, and even before that the period had already been shortened to 10 days.
Two milestones to distinguish
- Date of submission: the day the investor first files the dossier. The clock does not start here.
- Date of receipt of a valid dossier: the day the receiving authority confirms the dossier is complete and valid. The 10-day clock starts only from this point.
If the dossier requires supplementation or correction, the time the investor spends completing it does not count toward the period.
The IRC issuance process in practice
1. Preparation and filing: the investor files one dossier requesting IRC issuance with the competent investment registration authority under Article 27 of the 2025 Investment Law. 2. Receipt and checking: the authority checks the dossier for completeness and validity, and requests supplementation if anything is missing. 3. Appraisal within 10 days: from the date a valid dossier is received, the authority appraises the project and issues the IRC if all conditions are met. 4. Result: if issuance is refused, the authority must notify the investor in writing with clear reasons.
Transitional rules: dossiers filed before 1 March 2026
Under Article 52(14) of the 2025 Investment Law, valid dossiers already accepted under the 2020 Investment Law continue to be processed under the 2020 Law. Projects submitted (or not yet submitted) to the Prime Minister for in-principle approval will be transferred to the Chairperson of the provincial People’s Committee for handling under the new law’s authority. Licences and certificates granted before the new law took effect remain valid (Article 52(1)).
Common risks and practical recommendations
The most common risk remains a dossier that is not valid on first submission: missing proof of financial capacity, an unclear project proposal, or inconsistent investor information. Each round of supplementation resets the 10-day clock.
Practical recommendations:
- Review the dossier checklist with legal counsel before filing, rather than filing and waiting for supplementation requests.
- Note the current IRC timelines under Decree 96/2026/ND-CP; verify before project planning in case of amending or replacing instruments.
- Build buffer time into the project schedule for dossier supplementation rounds.
Frequently asked questions
Does filing online shorten the 10-day period? No. The period is set by law and does not depend on the filing method. Online filing only saves travel time and makes status tracking easier.
What if there is no result after 10 days? The investor may contact the investment registration authority for a status update, or file a complaint in accordance with legal procedures if their lawful rights are affected.
What is the difference between an IRC and an ERC? The IRC (Investment Registration Certificate) certifies the investment project; the ERC (Enterprise Registration Certificate) certifies the enterprise. Foreign investors typically obtain the IRC first, then establish the company to receive the ERC.
Conclusion
The legal framework has changed: the 2025 Investment Law took effect on 1 March 2026, and Decree 96/2026/ND-CP sets IRC issuance timelines at 05 working days (projects with in-principle approval), 10 working days (projects not subject to approval) and 15 working days (special investment procedures). Actual timing still depends almost entirely on dossier quality at first submission.
Legal basis: Investment Law 143/2025/QH15 (Articles 26, 27, 52); Decree 96/2026/ND-CP (Articles 38, 39, 47). Researched 16 October 2026.
*This article is for general reference only and does not constitute legal advice for any specific case. Content has been reviewed by the QA Council.*
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