HCMC – Vietnam will require securities firms to have at least VND5 trillion in charter capital and equity to operate in the country’s planned international financial center, according to a draft decree from the Ministry of Finance.
The draft also requires applicants to show two consecutive years of profit, continuous operations, and no accumulated losses.
For new firms, the minimum charter capital is set at VND800 billion. They must also appoint a general director and employ at least 10 staff with securities practice licenses.
Licensed firms in the center may conduct all securities services under their permits, but only within the hub.
The draft also proposes tax incentives. Priority projects would be subject to a 10% corporate income tax rate for 30 years, with up to four years exempt and a 50% cut for nine years. Other projects would face a 15% rate for 15 years, with up to two years exempt and a 50% cut for four years.
Until 2030, managers, experts, scientists, and skilled workers—Vietnamese and foreign—working in the center would be exempt from personal income tax on wages.
Transfers of businesses tied to real estate would remain taxable. Other taxes not specified in the draft would follow current laws.
