In Vietnam, how much deposit does an international travel service business have to pay?
In Vietnam, how much deposit does an international travel service business have to pay? How is the management and use of the deposit of a travel service business regulated? I have a plan to open an international travel service business, how much money will I have to manage to do this business?
In Vietnam, how much deposit does an international travel service business have to pay?
Pursuant to Clause 2, Article 14 of Decree 168/2017/ND-CP as amended by Article 1 of Decree 94/2021/ND-CP stipulating the deposit level for international travel service business as follows:
2. International travel service deposit:
a) Provision of travel services for inbound tourists: VND 50,000,000 (two hundred and fifty million dong);
b) Provision of travel services for outbound tourists: VND 100,000,000 (five hundred million dong);
c) Provision of travel services for inbound and outbound tourists: VND 100,000,000 (five hundred million dong).
How is the management and use of the deposit of a travel service business regulated?
According to Article 16 of Decree 168/2017/ND-CP, the management and use of deposits of travel service businesses are regulated as follows:
1. In case a tourist dies, has an accident, faces any risk or infringes human life and needs to be taken to the accommodation establishment or receive emergency treatment while the travel service provider fails to promptly provide funding therefor, the provider shall submit a written request for a temporary freeze on the deposit to the authority in charge of issuing the license for provision of travel services. Within 48 hours from the receipt of the written request, the licensing authority shall consider requesting the bank to let the provider to withdraw money from its deposit account or refuses the request.
2. Within 30 days from the date of withdrawal, the travel service provider shall make additional payment to maintain the deposit prescribed in Article 14 of this Decree. In case of failure to do so, the bank shall inform the licensing authority.
3. The travel service provider shall submit a written request for refund of deposit to the bank in the following cases:
a) A licensing authority’s written notice of refusal to issue the license of provision of travel services is received or the provider wishes to change its depository bank;
b) A licensing authority’s written notice of refund of deposit after revocation of the license for provision of travel services is received.
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