Vietnam: Fees for notarization of contracts will be increased from January 01, 2017

Increasing notarization fees for contracts with a value of VND 100 billion or more

This is the content mentioned in Circular No. 257/2016/TT-BTC of the Ministry of Finance of Vietnam on fees in notarization and authentication.

According to Circular No. 257/2016/TT-BTC, fees for notarization of contracts or transactions of which the value is more than VND 100 billion (except for contracts for lease of land use right, lease of residential house, lease or sublease of property, contracts for buying and selling property at auction) shall be increased, specifically as follows:

- Fees: VND 32.2 million + 0.02% of the portion of the value of property or the value of contract/transaction in excess of VND 100 billion (VND 5.2 million + 0.03% of the portion of the value of property or the value of contract/transaction in excess of VND 10 billion, according to current regulations).

- The maximum fee shall be VND 70 million/case (VND 10 million/case according to current regulations).

The following documents shall be null and void as of the entry into force of Circular No. 257/2016/TT-BTC:

- Joint Circular No. 08/2012/TTLT-BTC-BTP dated January 19, 2012.

- Joint Circular No. 115/2015/TTLT-BTC-BTP dated August 11, 2015.

- Circular No. 54/2015/TT-BTC dated April 21, 2015.

Increasing fees for attestation of contracts or transactions

Circular No. 226/2016/TT-BTC of the Ministry of Finance of Vietnam on the rate, collection, submission, administration and use of the certification and attestation fees increases the fees for attestation of contracts or transactions as follows:

- Fee for attestation of contract or transaction: VND 50,000/contract or transaction (an increase of VND 20,000);

- Fee for attestation of amendment, supplement or cancellation of a contract or transaction: VND 30,000/contract or transaction (an increase of VND 10,000);

- Fee for correction of errors in an attested contract or transaction: VND 25,000/contract or transaction (an increase of VND 15,000).

New regulations on collection of fees for bailiff

Circular No. 223/2016/TT-BTC of the Ministry of Finance of Vietnam stipulates 02 types of fees for bailiff, including:

- The fee for verification of eligibility for practicing as a bailiff at the request of the individual appointed to be a bailiff: VND 800,000 VND/application.

- The fee for verification of the conditions for establishment and operation of the bailiff office at the request of the bailiff: VND 1,000,000/application.

Moreover, Circular No. 223/2016/TT-BTC also specifies the competence to collect fees as follows:

- The Judicial Support Department (Ministry of Justice) is responsible for collecting fees for verification of eligibility for practicing as a bailiff.

- The Department of Justice of the province or central-affiliated city where the verification of the conditions for establishment and operation of the bailiff office is conducted is responsible for collecting fees as prescribed.

Reducing the fees for issuance of lawyer practice certificates

Circular No. 220/2016/TT-BTC of the Ministry of Finance of Vietnam on the rate, collection, submission, administration and use of the charges and fees for the practice of law has reduced the fee for issuing lawyer practice certificates from VND 400,000 to VND 100,000 per issuance.

Concurrently, supplementing several fees and charges for the practice of law, such as:

- Fee for verification of eligibility for practicing law: VND 800,000/application;

- Fee for verification of eligibility of a foreign lawyer for practicing law in Vietnam: VND 5,000,000/application;

- Fee for verification of operational conditions of a foreign organization practicing law in Vietnam: VND 2,000,000/application;

- Fee for verification of eligibility of a foreign lawyer for extending his or her practice of law in Vietnam: VND 3,000,000/application;

- Fee for verification of conditions to revise the operations of a foreign organization practicing law in Vietnam: VND 1,000,000/application.

Circular No. 220/2016/TT-BTC replaces Circular No. 02/2012/TT-BTC and Circular No. 118/2015/TT-BTC.

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