VFIPA introduces new Survey Forms which replace Annual Renewals
With the new VFIPA Act comes several changes, one main one being the replacement of Annual Renewals with Annual Surveys.
The Annual Surveys have been mandated by the act as an obligation for all foreign investors to submit.
The submission dates for the Annual Surveys are outlined in the Act to be submitted by the 28th of February each year.
The Public Private Partnership Working Group (PPP Group) from the Private Sector working with the investment team proposed this annual submission date, 28 February each year, to fall in line with the Business Licence annual renewals that are usually due by the 31st of January each year.
The Annual Surveys require similar data that was required from the Annual Renewals that is critical for the agency’s database.
The surveys provide the opportunity for investors to provide an update of the progress of their investment and their business plans for the preceding year.
The Annual Survey Forms come with a service fee of 15,000VT and the forms are readily available for any requests.
For this year, the VFIPA management has waived service fees associated with the Annual Surveys to assist foreign investors in coming in line with this year’s survey submission.
Notices have been put out on the process and if any further information is required do contact the team through mbani@vipa.org.vu.
