Fees for issuance of the license for establishment of a bank is VND 140 million/license

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This is the important content prescribed at the Circular No. 150/2016/TT-BTC dated October 14, 2016, providing for fees for issuance of license for establishment and operation of credit institutions; license for establishment of foreign banks’ branches, representative offices of foreign credit institutions or other foreign organizations having banking activities; license for provision of intermediary payment services by non-bank institutions, and the collection and transfer thereof.

In particular, Fees for issuance of the license for establishment of a bank is VND 140 million/license for Initial issuance and VND 70 million/license for replacement, addition or renewal of license; Fees for issuance of the license for establishment and operation of a non-bank credit institution is VND 70 million/license for Initial issuance and VND 35 million/license for replacement, addition or renewal of license; Fees for issuance of the license for establishment and operation of a microfinance institution or people’s credit fund is VND 200.000/license for initial issuance and VND 100.000/license for replacement, addition or renewal of license. And the fees for issuance of the license for establishment of a foreign bank’s branch or a representative office of a foreign credit institution or other foreign organization having banking activities is VND 1 million/license.

Fees for issuance of the license for provision of intermediary payment services by a non-bank organization is VND 10 million/license for Initial issuance and VND 05 million/license for replacement, addition or renewal of license.

This Circular takes effect on January 01, 2017.