Price appraisal is regulated in the Law on Prices and Decree No. 89/2013/NĐ-CP providing detailed implementation of some articles relating to price appraisal of the Law on Prices. In accordance with clause 15 Article 4 of the Law on Prices 2012, price appraisal means “determination of value in money of types of properties by agencies, organizations having function of price appraisal as prescribed in the Civil Code that is suitable with market price at a point of time, a certain location, for a certain purpose according to standard of price appraisal”. Nowadays, demand on price appraisal is quite high, especially in private sectors such as real estate, securities… Price appraisal also play a vital role in Merger and Acquisition. The Law on Prices 2012 allows foreign price-appraising companies to invest in Vietnam. Those with expert knowledge and experiences have special advantages when practicing in Vietnam market.
However, price appraisal is a conditional business sector regulated in the Law No. 03/2016/QH14. Hence, if any foreign price-appraising company plans to invest in Vietnam, they should conduct legal research in order to satisfy those conditions. To give our Clients a hand, Viet An Law Firm collects and provides some information as follows:
Company forms of foreign-owned price-appraising company in Vietnam:
Foreign price-appraisal companies established and providing price-appraising services legally in their local countries are eligible to corporate with Vietnamese price-appraising companies to establish foreign-owned price-appraising company in Vietnam under the two forms:
Limitation on capital contribution:
Step 1: Apply for the Investment Registration Certificate
An application includes:
Submit the application at: The Department of Planning and Investment.
The process: Within 15 days from the receipt date of the valid application, the Department of Planning and Investment will grant the Investment Registration Certificate to foreign investors. If the Department of Planning and Investment refuse to grant, they will respond in notices and explain the reasons.
Step 2: Establish foreign-owned price-appraising company in Vietnam
Apply for the Business Registration Certificate:
An application includes:
Submission place: The Department of Planning and Investment.
Duration: 03 – 06 working days.
Announce the business registration contents:
Engrave the seal and publish the seal sample:
Step 3: Apply for the Price-appraising business certificate:
In accordance with clause 2 Article 38 of the Law on Prices, a price-appraising company shall be granted the Price-appraising business certificate by the Ministry of Finance before officially providing price-appraising services.
Conditions to be satisfied in order to apply for the Price-appraising business certificate of foreign-owned price-appraising company in Vietnam:
An application for the Price-appraising business certificate includes:
Submission place: the Ministry of Finance.
Duration: Within 15 working days from the date of receipt of the valid application the Ministry of Finance will issue the Price-appraising business certificate. If the Ministry refuse to issue, within 05 working days from the date of receipt of the application, the Ministry will grant a written respond providing explanation.
Foreign investment services in Viet An Law Firm:
If you are looking for advice to establish foreign-owned price-appraising company in Vietnam as well as other information relating to foreign investment, please feel free to contact Viet An Law Firm to get detailed information!
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