License fee for establishment of banks stipulated
VGP - The Ministry of Finance issued Circular No. 150/2016 / TT-BTC regulating the collection rate, collection and payment of license fees for the establishment and operation of credit institutions, foreign bank branches, representative offices of foreign credit institutions, foreign institutions with other banking activities and operation licenses for providers of intermediary services of payment for organizations which are not banks.
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License fee for the establishment and operation of a credit institution which is not a bank is VND70 million for the first time license and VND35 million for a renewed, revised or extended one.
License fee for the establishment and operation of a microfinance institution and people's credit fund is VND200,000 for the first tine license and VND100,000 for a renewed, revised or extended one.
License fee for establishing a foreign bank branch, a representative office of foreign credit institutions and a foreign institution with banking activities is VND1 million for one.
License fee for a provider of intermediary payment services for organizations which is not bank is VND10 million per license for the first time and VND5 million for a reissued one.
By Thuy Dung
