Gov't sets qualifications for civil aviation businesses
Gov't sets qualifications for civil aviation businesses
Airlines using up to 10 aircraft on international routes are required to have minimum investment capital of VND700 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, VND300 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 VND1.3 trillion in registered capital. For those offering only domestic routes, the amount is VND700 billion.
The minimum capital to establish and maintain businesses offering aviation services is VND100 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.
