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Is it easy to run the debt collection service?

I was told that there are some debt collection service centers. I would like to be advised about conditions to open and run debt collection service and procedure for this service registration. I am looking forward to hearing from you soon. Sincerely thank you.

FDVN’s opinion:

Sincerely thank you for your concerning our legal consulting service. We are glad to give you our advice for your question.

Debt collection service is one of the legal services according to Decree No. 104/2007/NĐ-CP dated on July 28, 2007, on the provision of debt collection services. However, in order to be able to run this service, individuals shall meet the law requirements.

[1]. Condition on criteria of managers and directors of branches of debt collection service enterprises (Article 14 of Decree No. 104/2007/NĐ-CP):

In order to be able to run debt collection service, managers and directors of branches shall meet the requirements:

  1. Having full civil act capacity.
  2. Possessing a university or postgraduate diploma in economics, administration, law or public security.
  3. Having no criminal records.
  4. Persons who have worked for other debt collection service enterprises which had their debt collection service registration certificates revoked must also satisfy the condition that they have not acted as managers of these enterprises for the latest three years.

[2]. Conditions of the debts (Clause 2 Article 1 of Decree No. 104/2007/NĐ-CP)

Debt collection services may only be provided for debts that:

– Are proved lawful on sufficient grounds;

– Are overdue.

– Are not debts currently udder legally effective court judgments or rulings; debts owed to or payable by political organizations, socio-political organizations, state agencies or peoples armed forces units, or debts between Vietnam and international organizations or other countries

[3]. It is required to meet the conditions at Article 4 of Decree No. 104/2007/NĐ-CP to run the debts collection service:

– Only enterprises possessing debt collection service registration certificates may provide debt collection services.

– Debt collection service enterprises may not conduct other business lines and provide services other than debt collection services.

– Debt collection service enterprises may only take debt settlement measures compliant with the law.

– Debt collection services are provided under mandate contracts between creditors or debtors and debt collection service enterprises within the scope of rights recognized by law.

 [4]. Condition on capital:

Legal capital for the debt collection service business is VND 2,000,000,000 (two billion).

Throughout the course of operation, debt collection service enterprises shall maintain their charter capital at a level not lower than the legal capital.

 [5]. Dossiers of registration of debt collection service provision:

According to Decree No. 104/2007/NĐ-CP on provisions of debt collection service and Law on Business, Decree No. 78/2015/NĐ-CP on enterprise registration and debt collection service registration.


A dossier evidencing satisfaction of the condition on capital, comprising:

– A written record of capital contribution by founding shareholders, for joint-stock companies, or founding members, for limited liability companies with two or more members; the corporate owners decision of capital assignment, for one-member limited liability companies owned by organizations; the corporate owners registration of investment capital, for private enterprises and one-member limited liability companies owned by individuals;

– For capital amounts contributed in money, there must be certification by a commercial bank licensed to operate in Vietnam of deposited money amounts of founding members. Deposited money amounts must be equal to contributed capital amounts of founding members and may be released only after the enterprise is granted a debt collection service registration certificate.

– For capital amounts contributed to the asset, there must be a deed issued by a valuation organization in Vietnam certifying the results of the valuation of assets contributed to the enterprises capital. That deed must remain valid by the date of submission of the dossier to a competent business registry office.

A dossier evidencing satisfaction of the condition on criteria of managers and directors of branches of the enterprise, comprising:

– Valid copies of university diplomas in any of the disciplines specified in Clause 2, Article 14 of this Decree. For diplomas granted by foreign universities, their notarized Vietnamese translations are required.

– Judicial record cards.

For foreign individuals, written certifications made by administrations of their countries of origin that they have no criminal records in these countries are required together with their notarized Vietnamese translations.


The business registration authority of the Plan and Investment Department of provinces or municipalities.


03 working days from the day of receiving.


Business Registration Certification.

In addition, you must also carry out the procedures to apply for a Certificate of eligibility for security, order and business management.

Above are the advice of FDVN Limited Law Firm base on studying law provisions and theories. We hope that our opinions would be useful.

Legal Expert: Nguyen Thi Suong

FDVN Law Company

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