This is the content prescribed at the Decree No. 92/2016/ND-CP dated July 1, 2016 of the Government providing for conditional business sectors or activities in the civil aviation industry and takes effect on July 01, 2016.
In particular, the minimum amount of capital required for establishment and maintenance of an airline shall comply with the following regulations with regard to an airline operating up to 10 airplanes, the minimum amount of capital shall be VND 700 billion required for an airline providing international air transport services; VND 300 billion required for an airline only providing domestic air transport services; with regard to an airline operating from 11 to 30 airplanes, the minimum amount of capital shall be VND 1,000 billion required for an airline providing international air transport services; VND 600 billion required for an airline only providing domestic air transport services; with regard to an airline operating up to 30 airplanes, the minimum amount of capital shall be VND 1,300 billion required for an airline providing international air transport services; VND 700 billion required for an airline only providing domestic air transport services. The minimum amount of capital required for establishment and maintenance of a general aviation enterprise shall be VND 100 billion.
A foreign-invested airline must conform to the requirements as foreign ownership shall not exceed 30% of the charter capital; there is at least one Vietnamese natural or legal entity owning the highest share of charter capital. In cases where a Vietnamese legal entity has foreign investment capital, the foreign share of equity participation shall not exceed 49% of the charter capital of that entity.
Transfer of shares, portions of equity participation from airlines that do not have foreign investment capital to foreign investors shall be allowed only after 02 years from the date of issuance of a license for air transport service business.
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