New Text Notification

Vietnam: The travel service deposit shall be up to VND 500 million

14:50, 05/03/2018

The Government of Vietnam issued Decree No. 168/2017/NĐ-CP on elaboration of some articles of the Law on Tourism.

According to Decree No. 168/2017/NĐ-CP of Vietnam’s Government, the travel service deposit is specified as follows:

- The domestic travel service deposit is VND 100,000,000.

- International travel service deposit:

+ Provision of travel services for inbound tourists: VND 250,000,000;

+ Provision of travel services for outbound tourists: VND 500,000,000;

+ Provision of travel services for inbound and outbound tourists: VND 500,000,000.

According to Vietnam’s regulations, the travel service provider shall pay the deposit in Vietnamese dong to a commercial bank, cooperative bank or branch of a foreign bank established and operating in Vietnam and be entitled to enjoy interest under the agreement between the provider and the depository bank in accordance with regulations of law. The deposit must be maintained during the period over which a provider provides travel services.

Deposit shall be used for timely settlement in cases where tourists die, have accidents, mishaps, or have their lives harmed, they need to be brought back to their place of residence or have emergency treatment that the business does not have enough funding to handle.

Decree No. 168/2017/NĐ-CP of Vietnam’s Government takes effect from January 01, 2018.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

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