Vietnam Approves New Fees for Foreigners and Foreign Firms - Vietnam Briefing News
By Dezan Shira & Associates
Editor: Maxfield Vandel Brown
Since January 2017, a range of policies have come into effect for foreigners and foreign firms. The introduced changes impact international tourism companies, foreign advertisement firms, trade offices, foreign crew on ships, and visa processing.
Passport and visa fees
According to Circular No.219/2016/TT-BTC, the stipulated fee for a single-entry visa for foreigners will be US$25 (VND 570,000) for a single individual, while the price of a multiple-entry visa for a duration of three to 12 months ranges from US$50 to US$155 (VND 1.14 million to VND 3.55 million). Exemptions will be applicable for guests (including spouses and children) invited by the government.
Fees for overseas diplomatic missions
As per Circular No.264/2016/TT-BTC, the naturalization process will cost US$250 (VND 5.7 million) per person. Charges for restoring nationality will be the same as registering for retaining ones nationality, namely US$200 (VND 4.57 million). Fees for issuing new passports are fixed at US$70 (VND 1.6 million) while charges for extending diplomatic and public passports are US$30 (VND 684,210).
Government invited guests, employees, and technical staff (including spouses and children) of foreign diplomatic and consular representative missions are exempt from the fees.
RELATED: Dezan Shira & Associates’ Business Advisory Services
License fees for international tourism agencies
Circular No. 177/2016/TT-BTC prescribes the fees for issuing licenses to international tourism agencies (including new issuance, renewal, and re-issuance) at US$132 (VND 3 million), while the assessment fee for issuance of tour guide licenses is set at US$28.50 (VND 650,000) for a single entity. Licenses for establishing a branch or a representative office of a foreign travel company will cost US$132 (VND 3 million) while the fee for renewal, extension, and re-issuance of existing licenses is US$66 (VND 1.5 million).
Establishing representative offices of a foreign advertisement firm
License fees for establishing a representative office of a foreign advertisement enterprise are, as stipulated by Circular No.165/2016/TT-BTC, US$132 (VND 3 million), while amendments and re-issuance will cost US$66 (VND 1.5 million).
RELATED: Customs Procedures in Vietnam
Fees for setting up trade promotion office
Circular 143/2016/TT-BTC prescribes a fee of US$132 (VND 3 million) for establishing foreign trade promotion offices. Any changes or extension of the licenses will be charged at US$66 (VND 1.5 million).
Working holiday permits fees
Working holiday permits for New Zealand and Australia working holiday-makers will be charged US$26.50 (VND 600,000) for a single applicant and US$22 (VND 500,000) for re-issuance in accordance with Circular No. 140/2016/TT-BTC.
New permit fees for traveling ashore and boarding foreign ships
Foreign crewmembers traveling ashore will be required to pay a permit fee of US$3 (VND 68,181), which increases to US$5 (VND 113,636) if this includes a overnight stay. The permit fee for boarding foreign ships is set at US$1.32 (VND 30,000) per permit, according to Circular No. 138/2016/TT-BTC.
Foreigners engaged in press activities, scientific research, and tourism activities involving the use of foreign ships will require permits ranging from US$0.44 (VND 10,000) to US$0.88 (VND 20,000), depending on the activity.
Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email [email protected] or visit www.dezshira.com.
Stay up to date with the latest business and investment trends in Asia by subscribing to our complimentary update service featuring news, commentary and regulatory insight.
Annual Audit and Compliance in Vietnam 2016
In this issue of Vietnam Briefing, we address pressing changes to audit procedures in 2016, and provide guidance on how to ensure that compliance tasks are completed in an efficient and effective manner. We highlight the continued convergence of VAS with IFRS, discuss the emergence of e-filing, and provide step-by-step instructions on audit and compliance procedures for Foreign Owned Enterprises (FOEs) as well as Representative Offices (ROs).
Navigating the Vietnam Supply Chain
In this edition of Vietnam Briefing, we discuss the advantages of the Vietnamese market over its regional competition and highlight where and how to implement successful investment projects. We examine tariff reduction schedules within the ACFTA and TPP, highlight considerations with regard to rules of origin, and outline the benefits of investing in Vietnam’s growing economic zones. Finally, we provide expert insight into the issues surrounding the creation of 100 percent Foreign Owned Enterprise in Vietnam.
Tax, Accounting and Audit in Vietnam 2016 (2nd Edition)
This edition of Tax, Accounting, and Audit in Vietnam, updated for 2016, offers a comprehensive overview of the major taxes foreign investors are likely to encounter when establishing or operating a business in Vietnam, as well as other tax-relevant obligations. This concise, detailed, yet pragmatic guide is ideal for CFOs, compliance officers and heads of accounting who must navigate Vietnam’s complex tax and accounting landscape in order to effectively manage and strategically plan their Vietnam operations.