What are the requirements for issuance of certificate of eligibility to provide valuation services in Vietnam?
- What are the requirements for issuance of certificate of eligibility to provide valuation services in Vietnam?
- What is the application for a certificate of eligibility to provide valuation services in Vietnam?
- What are the procedures for granting a certificate of eligibility to provide valuation services?
What are the requirements for issuance of certificate of eligibility to provide valuation services in Vietnam?
On February 13, 2023, the Ministry of Finance issued Decision 176/QD-BTC in 2023 announcing the replacement of administrative procedures under the management function of the Ministry of Finance.
According to that, the requirements for issuance of the Certificate of eligibility to provide valuation services are prescribed as follows:
General requirements:
- Having a business registration certificate, an enterprise registration certificate or an investment certificate as prescribed by law.
- Having at least 03 price appraisers registered to practice at the enterprise.
- For the legal representative, director or general director of the valuation enterprise:
(1) Being a price appraiser registered to practice at an enterprise under Point c Clause 1 or Point c Clause 2 or Point c Clause 3 or Point c Clause 4 or Point c Clause 5 Article 39 of the Law on Prices.
(2) Having at least 03 years as a practicing price appraiser before becoming the legal representative, director or general director of the valuation enterprise.
(3) Not being the legal representative, the Director or General Director of the valuation enterprise has had its Certificate of eligibility to provide valuation services revoked for a period of 01 year (12 months). ) up to the time of submitting the application for issuance or re-issuance of the Certificate of eligibility to provide valuation services.
- For members of the valuation enterprise being an organization:
(1) An organization member may contribute up to 35% of the charter capital of a valuation multi member limited liability company. Founding shareholders being organizations may contribute up to 35% of the charter capital of the valuation joint stock company. In case there are many organizations contributing capital, the total capital contribution of these organizations shall not exceed 35% of the charter capital of a multi member limited liability company, or a joint stock company with a valuation.
(2) The representative of a member being an organization must be a price appraiser and must register to practice at the valuation enterprise to which the organization contributes capital; at the same time, not allowed to contribute capital to that valuation enterprise as an individual, not to be a representative of the organization contributing capital to establish another valuation enterprise.
Corresponding requirements for each type of enterprise:
- Single member limited liability company:
The owner must be a price appraiser registered to practice at the enterprise.
The legal representative, director or general director of a single member limited liability company must be a price appraiser registered to practice at the enterprise.
- Multi member limited liability company:
There must be at least 02 capital-contributing members who are price appraisers to register to practice at the enterprise. The legal representative, director or general director of a two-member limited liability company must be a price appraiser registered to practice at the enterprise.
- Partnerships:
There must be at least 02 general partners who are price appraisers to register to practice at the enterprise. The legal representative, director or general director of a partnership must be a price appraiser registered to practice at the enterprise.
- Private enterprise:
The owner of a private enterprise must be a price appraiser registered to practice at the enterprise. The director of a private enterprise must be a price appraiser registered to practice at the enterprise.
- Joint stock company:
There must be at least 02 founding shareholders who are price appraisers to register to practice at the enterprise. The legal representative, director or general director of a joint-stock company must be a price appraiser registered to practice at the enterprise.
What are the requirements for issuance of certificate of eligibility to provide valuation services in Vietnam?
What is the application for a certificate of eligibility to provide valuation services in Vietnam?
Application for issuance of a certificate of eligibility to provide valuation services specified in Decision 176/QD-BTC in 2023 is as follows:
Composition, number of dossiers: 01 Full set of dossiers including:
- An application form for issuance or re-issuance of the Certificate of eligibility to provide valuation services, made according to the form prescribed by the Ministry of Finance;
- A list of the enterprise's certification of the contributed capital of its members in case there is no information on the list of capital contributors or shareholders in the Certificate of Business Registration;
- Receipt of payment of appraisal fee for issuance of certificate of eligibility to provide valuation services.
What are the procedures for granting a certificate of eligibility to provide valuation services?
Procedures for granting a certificate of eligibility to provide valuation services specified in Decision 176/QD-BTC in 2023 are as follows:
Step 1: Enterprises submit an application for issuance and re-grant of the Certificate of eligibility to provide valuation services to the Ministry of Finance (the Department of Price Management) through the Single-window section of the Ministry of Finance according to the form provided by the Ministry of Finance. Financial regulations.
Step 2: The Single-window section of the Ministry of Finance transfers the enterprise's application file for issuance or re-issuance of the Certificate of eligibility to provide valuation services to the Price Management Department for processing according to regulations.
Step 3:
- If the application is eligible, the Ministry of Finance (the Price Management Department) will consider and re-issue the Certificate of eligibility to provide valuation services according to regulations.
- In case it is necessary to clarify information in the dossier, the Ministry of Finance (the Price Management Department) has the right to request the price appraiser or the enterprise to explain or provide documents for the inspection, comparison, and verification of the working process and other information on file.
- In case the enterprise does not provide explanation documents or the explanation documents do not fully prove that the information in the application for registration of practice is authentic, the Ministry of Finance (the Price Management Department) has the right to refuse to grant the license. , re-issuance of the Certificate of eligibility to provide valuation services. In case of refusal, the Ministry of Finance (Price Management Department) shall reply in writing and clearly state the reason.
- Fees and charges (if any): VND 4,000,000 for issuance of certificates of eligibility for business in price appraisal services; VND 2,000,000 for the re-issuance of the certificate of eligibility to provide valuation services.
LawNet
