Fees for verification of eligibility for the establishment and operation in the field of commercial arbitration in Vietnam

11:45, 13/12/2016

On November 10, 2016, the Ministry of Finance of Vietnam issued Circular No. 222/2016/TT-BTC on the rate, collection, submission, administration and use of the fees for verification of eligibility for the practice of commercial arbitration, which include the collection, administration and use of fees for verification of eligibility for the establishment and operation of a commercial arbitration center, a branch of a commercial arbitration center or a representative office of a foreign arbitration center.

According to Circular No. 222/2016/TT-BTC of the Ministry of Finance of Vietnam, payers are organizations applying for the establishment and operation of commercial arbitration centers and for the registration of the branches of such centers; foreign arbitration organizations applying for the establishment of their branches and representative offices in Vietnam and for the registration of their branches’ activities in Vietnam.

The Department of Judicial support shall collect the fees for verification of eligibility for the establishment of commercial arbitration centers, the branches of such centers and representative offices of foreign arbitration organizations.

Departments of Justice of provinces and central-affiliated cities shall collect the fees for verification of eligibility for the operation of commercial arbitration centers.

Fees for verification of eligibility for the establishment and operation of commercial arbitration centers: 1,000,000 - 3,000,000 VND/time.

- Fee for verification of conditions for the operation of a branch of a commercial arbitration center is VND 1,000,000, and VND 500,000 in case of amendment to the registration of operation.

- Fee for verification of eligibility for the establishment and operation of a Vietnam-based branch of a foreign arbitration center is 1,000,000 - 6,000,000 VND/time.

- Fee for verification of conditions for the establishment and operation of a Vietnam-based representative office of a foreign arbitration center is 1,000,000 - 2,000,000 VND/time.

Circular No. 222/2016/TT-BTC of the Ministry of Finance of Vietnam takes effect from January 01, 2017 and replaces Circular No. 42/2013/TT-BTC.

Source: Finance Magazine

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