Sunday, December 11 2016

VietNamNews

Int’l airlines need $31m in capital

Update: July, 27/2016 - 11:00
Passengers enter Vietnam Airlines aircraft. Firms operating 11-30 aircraft on international routes must have at least VND1.3 trillion in registered capital. — Photo sggp.org.vn

HÀ NỘI — Airlines using up to 10 aircraft on international routes are required to have minimum investment capital of VNĐ700 billion (US$31.3 million) to establish and maintain its airline service.

According to a new decree issued by the Government on qualifications for businesses in the civil aviation sector, VNĐ300 billion is listed as the minimum capital to be held by businesses that only operate domestic air routes.

Firms operating 11-30 aircraft on international routes must have at least VNĐ1.3 trillion in registered capital. For those offering only domestic routes, the amount is VNĐ700 billion.

The minimum capital to establish and maintain businesses offering aviation services is VNĐ100 billion.

Businesses with foreign investors have to meet two conditions: The capital provided by foreign partners cannot exceed 30 per cent of the registered capital, and there must be at least one Vietnamese individual or Vietnamese legal entity holding the largest part of the registered capital.

The transfer of a stake or contribution capital to foreign investors will be permitted two years after the business receives its business licence. — VNS

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