Vietnam’s regulations on collection, submission, administration and use of the fees on secured transactions

14:30, 08/12/2016

On November 09, 2016, the Ministry of Finance of Vietnam issued Circular No. 202/2016/TT-BTC on the rate, collection, submission, administration and use of the fees on secured transactions.

According to Circular No. 202/2016/TT-BTC of the Ministry of Finance of Vietnam, the organizations and individuals shall incur the regulated fees upon applying to competent government authorities for registration of a secured transaction, disclosure of information on a secured transaction, issuance of a copy of the certificate of registration of a secured transaction, issuance of a code of access to the database on secured transactions.

The branches of Vietnam Maritime Administration (Ministry of Transport) shall collect the fees for registration and disclosure of information on transactions secured by maritime vessels.

Centers for registration of transactions and assets under the National Registration Agency for Secured Transactions (Ministry of Justice) shall collect the fees for registration of secured transactions and relevant contracts and for disclosure of information on transactions secured by movable assets (except aircrafts) and maritime vessels.

The National Registration Agency for Secured Transactions (Ministry of Justice) shall collect the fee for issuance of codes of access to the secured transaction database in the National Registration Agency for Secured Transaction.

The rate of fees on secured transactions is defined below:

No.	Entry	Rate
1	Fee for registration of transactions secured by movable assets (except aircrafts) or maritime vessels
a	Initial registration of transactions secured by movable assets (except aircrafts) or maritime vessels	VND 80,000/application
b	Registration of revision to a registered secured transaction	VND 60,000/application
c	Registration of the notice of collateral settlement	VND 70,000/application
d	Removal of secured transaction registration	VND 20,000/application
dd	Issuance of a copy of a certificate of secured transaction registration	VND 30,000/case
2	Fee for provision of information on transactions secured by movable assets (except aircrafts) or maritime vessels	VND 30,000/application
3	Fee for issuance of codes of access to the database on secured transactions
a	Date of application for access to the secured transaction database before July 01st in the year	VND 300,000/client/year
b	Date of application for access to the secured transaction database on or after July 01st in the year	VND 150,000/client/year

Source: Finance Magazine

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