Vietnam: Who are the payers of fees and charges in the field of securities? What are the fees and charges in the field of securities?
Who are the payers of fees and charges in the field of securities in Vietnam?
Pursuant to Article 2 of Circular 25/2022/TT-BTC, the collection organizations and payers of fees and charges in the securities sector are organizations and individuals whose activities in the securities sector are specified in the Schedule of fees and charges issued together with Circular 25/2022/TT-BTC.
Specifically, the objects are as follows:
- Subjects of payment of fees and charges in the field of securities:
+ Securities company.
+ Securities investment fund management company.
+ Securities investment company.
+ Securities investment fund.
+ Branches of securities companies, foreign securities fund management companies in Vietnam.
+ Representative offices of securities companies, domestic and foreign securities investment fund management companies.
+ Stock trading room.
+ The company offers securities to the public
+ Stock Exchange (Stock Exchange in Vietnam).
+ Vietnam Securities Depository and Clearing Corporation (VSDC).
+ Payment bank.
- Collecting fees and charges in the field of securities shall be implemented by the Vietnam Securities Commission.
Vietnam: Who are the payers of fees and charges in the field of securities? What are the fees and charges in the field of securities?
What is the fee for issuing licenses and certificates of operation in the field of securities in Vietnam?
Pursuant to Article 3 of Circular 25/2022/TT-BTC and Section 1 of the Schedule of fees and charges in the field of securities issued together with Circular 25/2022/TT-BTC stipulating fees for licensing and certificates of operation in the field of securities as follows:
(1) Fees for granting licenses for establishment and operation of securities companies:
- New level:
+ Securities brokerage: 20 million VND/license.
+ Self-employed securities: 60 million VND/license.
+ Securities underwriting: 100 million VND/license.
+ Securities investment consultancy: 20 million VND/license.
- Reissuance, adjustment and renewal of licenses: 02 million VND/grant.
- Granting establishment licenses after dividing, splitting, consolidating, merging and converting securities companies: 02 million VND/grant.
(2) Fees for granting licenses for establishment and operation of securities investment fund management companies:
- New grant: 30 million VND/license.
- Reissuance, adjustment and renewal of licenses: 02 million VND/grant.
- Granting establishment licenses after dividing, splitting, consolidating, merging and converting securities investment fund management companies: 02 million VND/grant.
(3) Fees for granting licenses for establishment and operation of securities investment companies:
- New grant: 30 million VND/license.
- Reissuance, adjustment and renewal of licenses: 02 million VND/grant.
- Granting establishment licenses after dividing, splitting, consolidating, merging and converting securities investment companies: 02 million VND/grant.
(4) Fees for issuance of certificates of registration of securities investment funds:
- New issue: 20 million VND/certificate.
- Reissue and adjust: 02 million VND/grant.
(5) Fees for granting decisions on establishment and operation of branches of securities companies and domestic securities investment fund management companies; issuance of offshore indirect investment certificates to securities trading organizations (including: securities companies, fund management companies):
- New issue: 10 million VND/paper.
- Reissue and adjust: 01 million VND/grant.
(6) Fees for granting licenses for establishment and operation of branches of securities companies and foreign fund management companies in Vietnam:
- New grant: 20 million VND/license.
- Reissue and adjust: 02 million VND/grant.
(7) Fees for renewing, reissuing, adjusting or extending the Decision on establishment of representative offices of securities companies and domestic securities investment fund management companies: VND 01 million/grant
(8) Fees for renewing, reissuing, adjusting and renewing certificates of operation registration of representative offices of securities companies and foreign securities investment fund management companies in Vietnam: VND 01 million/issuance.
(9) Fees for renewing, reissuing, extending and adjusting the Decision on establishment of a securities company transaction office: VND 01 million/grant.
(10) Fee for issuance of certificates of registration of fund certificate distribution activities: VND 05 million/certificate.
(11) Fee for issuance of certificates of registration of securities depository activities: VND 06 million/certificate.
(12) Fees for issuing certificates of registration for public offering of securities; issuance of certificates of registration of issuance of shares (for swaps); issuance of certificates of initial and additional warrant offerings; issuance of certificates of registration for issuance of new shares as a basis for offering depository certificates abroad (in case of registration of issuance of new shares as a basis for offering depository certificates abroad):
- Less than 50 billion VND: 10 million VND/certificate.
- From VND 50 billion to less than VND 150 billion: VND 20 million/certificate.
- From VND 150 billion to less than VND 250 billion: VND 35 million/certificate.
- From 250 billion VND or more: 50 million VND/certificate.
(13) Fees for issuance of certificates of eligibility for trading in derivative securities:
- New issue: 10 million VND/certificate.
- Adjustment: 02 million VND/certificate.
(14) Fee for issuance of certificates of eligibility to provide clearing and settlement services for securities/derivative transactions: VND 02 million/certificate.
(15) Fees for renewing, exchanging and reissuing securities practice certificates for individuals practicing securities at securities companies, securities investment fund management companies and securities investment companies: 01 million VND/grant.
What are the regulations on securities management and monitoring fees in Vietnam?
Pursuant to Article 3 of Circular 25/2022/TT-BTC and Section 2 of the Schedule of fees and charges in the field of securities issued together with Circular 25/2022/TT-BTC stipulating fees for management and supervision of securities activities as follows:
(1) Management fees for unlisted and unregistered public companies; open-ended fund management fees:
- Management fee for unlisted and unregistered public companies: VND 830,000.
- Open-ended fund management fee: 10 million VND/year/fund.
(2) Securities activity monitoring fee for the Stock Exchange in Vietnam:
- For stocks, fund certificates, secured warrants: 0.0081% of the transaction value.
- For corporate bonds: 0.00315% of the transaction value.
- For debt instruments as prescribed in the Law on Public Debt Management:
+ Normal transactions, resale transactions (repo transactions) of Government bonds with maturities of more than 14 days: 0.00245% of the transaction value.
+ Resale transactions (repo transactions) of Government bonds with a maturity of up to 14 days: 0.00028% of the transaction value.
- For derivatives: 10% of the price revenue of derivative securities trading services.
The transaction value is determined based on the data published on the trading system of the Stock Exchange in Vietnam and the value of the transaction value of transferring ownership of securities not through the trading system of the Stock Exchange transferred by VSDC to the Stock Exchange in accordance with the regulations of the Ministry of Finance. For resale transactions (repo transactions) of Government bonds, the transaction value is only calculated once according to the value of the purchase transaction, not for resale transactions.
(3) Securities activity supervision fee for Vietnam Securities Depository and Clearing Corporation (VSDC):
- 10% of service price revenue: depository, transfer, exercise of rights and transfer of ownership of securities not through the trading system of the Stock Exchange in Vietnam, in which, the revenue from the price of securities ownership transfer service not through the trading system of the Stock Exchange in Vietnam is the remaining revenue of VSDC after VSDC has transferred the revenue of this service price to the Stock Exchange in Vietnam as prescribed. of the Ministry of Finance of Vietnam.
- For derivatives: 10% of the turnover price of position management services/ prices of clearing services and prices of margin asset management services.
(4) Securities activity supervision fee for payment banks:
- For stocks, fund certificates, secured warrants: 0.001% of the clearing value, net payment/payment date, up to VND 1,000,000/day.
- For corporate bonds: 0.0001% of the clearing value, net payment/day of payment, up to 100,000 VND/day.
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