Contributing real estate as capital and engaging an independent valuer — how is the valuation fee calculated? The short answer: there is no state fee schedule. Under Article 57 of the Price Law 16/2023/QH15, the price of valuation services is stated in the valuation contract, formed through a civil transaction between the valuation enterprise and the client on the basis of recovering reasonable actual costs, in accordance with Vietnamese Valuation Standards. This article explains the pricing mechanism, the five factors driving the cost, and when an independent valuation is not required, under the regulations in force as of 14 October 2026.
1. No state fee schedule for private valuation services
This point must be stated first: for valuation services serving capital contributions of private enterprises, the state issues no fee schedule. Under Article 57 of the Price Law 2023 (No. 16/2023/QH15), the price of valuation services is agreed by the parties and stated in the valuation contract, ensuring recovery of reasonable actual costs and compliance with Vietnamese Valuation Standards. Any advertised “valuation fee of X% of asset value” presented as a state regulation is inaccurate for this service.
Mind the boundary: Article 65 of the Price Law 2023 governs valuation costs paid from the state budget for public assets — it does not apply to a private enterprise engaging valuation services for a capital contribution. Confusing the two regimes leads to the wrong legal basis.
2. Five factors shaping valuation costs
Because the service price is agreed on the basis of reasonable actual costs, the specific fee depends on:
- Scale and value of the asset: the larger the real estate value and the more components (land, construction works, assets attached to land), the greater the workload;
- Complexity and scope of work: the difficulty of collecting market data, inspecting the actual condition, and selecting the appropriate valuation method;
- Completion timeline: rush delivery of the valuation certificate usually costs more due to prioritized resource mobilization;
- Capability and reputation of the valuation enterprise: firms with experienced valuers and recognized market brands typically charge commensurate fees;
- Contract-specific requirements: scope of liability, confidentiality terms, requests for supplementary reports or defending the valuation result before third parties.
3. When is an independent valuation NOT required?
Many assume that contributing real estate as capital mandatorily requires an independent valuation firm — this is incorrect. Under Article 36 of the Enterprise Law 59/2020/QH14, contributed assets (other than Vietnamese Dong, freely convertible foreign currencies, and gold) are valued by the founding members/shareholders on the principle of consensus OR by a valuation organization. In other words:
- Founding members/shareholders may value the contributed real estate by consensus themselves, with no obligation to engage a valuation organization;
- Engaging an independent valuer is an option — typically chosen when the parties want an objective basis and to reduce the risk of later disputes over the value of the contributed capital.
4. Eligibility of the valuation enterprise
If you decide to engage an independent valuer, verify that the firm is duly licensed to practice under the Price Law 2023 — including the requirement to employ licensed valuers. A valuation certificate issued by an unqualified firm has no legal validity and will not protect the parties in disputes over the value of contributed assets.
Frequently asked questions
Is there a state fee schedule for valuing real estate contributed as capital?
No. Under Article 57 of the Price Law 2023, the valuation service price is agreed between the valuation enterprise and the client in the contract, based on recovery of reasonable actual costs under Vietnamese Valuation Standards.
Is an independent valuation mandatory for in-kind real estate contributions?
No. Article 36 of the Enterprise Law 2020 allows founding members/shareholders to value assets by consensus; engaging a valuation organization is optional, not mandatory.
Does Article 65 of the Price Law 2023 apply to private enterprises?
No. Article 65 governs valuation costs paid from the state budget for public assets; it does not apply to private enterprises engaging valuation services for capital contributions.
Is a certificate from an unqualified valuer valid?
It has no legal validity. The valuation firm must be duly licensed under the Price Law 2023, including the requirement to employ licensed valuers.
Sources
- Price Law 16/2023/QH15: Article 57 — the price of valuation services is stated in the valuation contract, formed through a civil transaction between the valuation enterprise and the client (recovery of reasonable actual costs, per Vietnamese Valuation Standards); Article 65 (state-budget valuation costs for public assets — not applicable to private enterprises).
- Enterprise Law 59/2020/QH14: Article 36 — contributed assets (other than money, gold, foreign currencies) are valued by founding members/shareholders on the principle of consensus OR by a valuation organization; no mandatory independent valuation.
This article is for reference only and does not constitute legal advice. The content has been reviewed by the AI Legal Council of FLAT Law Firm and will undergo quality checks before any publication consideration; it is not the legal opinion of a licensed human lawyer. Laws and regulations may change; verify the current legal texts before applying them.
Need advice on asset valuation for a capital contribution? Contact FLAT Law Firm for support.
