THE
STATE BANK OF VIETNAM
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SOCIALIST
REPUBLIC OF VIETNAM
Independence Freedom Happiness
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No. 497/NHNN-QLNH3
Re: guiding the implementation of the Decree
No. 131 of the Government
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Hanoi,
January 25, 2006
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To:
On 18 October 2005, the
Government issued the Decree No. 131/2005/ND-CP on the amendment, supplement of
several articles of the Decree No. 63/1998/ND-CP dated 17 August 1998 of the
Government on foreign exchange control (which took effect from 8 November
2005). With a view to seriously and unanimously complying with the principle of
liberalizing current transactions as provided for in the Decree No.
131/2005/ND-CP of the Government, the Governor of the State Bank would like to
require Managers of the State Bank branches in provinces, cities; General
Managers, Managers of the banks authorized to engage in foreign exchange
activity (authorized banks) to carry out several following contents:
1. Upon performing the sale,
remittance or confirmation of the carrying of foreign currency abroad to
Non-residents, Residents for performing payment requirements of current
transactions, authorized banks need not require them to present the documents
on the completion of their tax obligations to the State of Vietnam.
2. Residents being Vietnamese
citizen shall be entitled to contact authorized banks to buy, remit and carry
foreign currency abroad for the following purposes without asking for the
permit of the State Bank:
a. Payment for study, medical
treatment cost of themselves or of their relatives;
b. Going abroad for business,
travelling and visit;
c. Payment of fees and charges
to foreign parties;
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e. Remitting bequeathed money to
oversea inheritor;
f. Going abroad for permanent
residence;
g. Other purposes of unilateral
current money transfer.
3. The authorized banks shall
base on the foreign currency requirements as stated in point 2 mentioned above,
except for paragraph d, to provide in details for required papers to prove
using purpose of the person who requests for purchase, remittance, carrying of
foreign currency, provide for the consideration, inspection, procedures on
foreign currency sale, remittance or confirmation so as individuals who carry
foreign currency overseas are entitled to perform in accordance with simple,
convenient principle. Persons who request for purchase, remittance, carrying of
foreign currency overseas shall take self responsibility to the law for the
accuracy of related papers used for proving their using purpose of foreign
currency.
The authorized banks shall be
responsible for the archive of full documents in accordance with provisions of
applicable laws on the regime on the archive of documents and take self
responsibility to the laws for their decision in respect of already performed
transactions.
Level of foreign currency to be
approved for the requirements of the purchase, remittance, carrying of foreign
currency overseas shall be based on actual and reasonable demands of each
transaction.
4. Except for the purpose of
providing subsidies to oversea relatives as mentioned in point 2(d), the
authorized banks shall consider to permit the purchase, remittance, carrying of
foreign currency at an average level of USD 7,000/person/annum. In special
case, the authorized banks may consider to permit a higher level if requesting
person can fully present documents to prove that his exceeding demand is
necessary and appropriate.
5. In respect of the case of
Vietnamese citizen who has a demand for carrying foreign currency for the
purposes as mentioned in point 2 at a volume exceeding the level which needs to
inform to border checkpoint customs, the authorized banks shall confirm the
carrying of foreign currency abroad on the basis of a written request of the
person having the demand which clearly states the amount of money, use purpose
to make foundation for presenting to border checkpoint customs upon exit from
the country (according to the attached form).
Vietnamese citizen with foreign
currencies shall be entitled to contact the authorized banks to ask for the
oversea remittance of foreign currency or to be confirmed for carrying foreign
currency overseas for the purposes mentioned in point 2 of this official
dispatch on the basis of presenting the documents under applicable provisions
of the authorized banks. The authorized banks shall be responsible for
confirming the carrying of foreign currency abroad upon the request of the
person who has demand and may charge fee for this service.
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Managers of the State Bank
branches in provinces, cities, General Managers, Managers of the authorized
banks shall be responsible for organizing the implementation of the contents
stated in this official dispatch. Any difficulty, query that may arise during
the implementation process should be reported to the central State Bank for
timely settlement.
FOR
THE GOVERNOR OF THE STATE BANK OF VIETNAM
DEPUTY GOVERNOR
Nguyen Dong Tien
THE
BANK..
(Name of the authorized bank)
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SOCIALIST
REPUBLIC OF VIETNAM
Independence Freedom Happiness
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No.:
.........../
City
(province), date.... month..... year...
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CONFIRMATION
OF THE CARRYING OF FOREIGN CURRENCY ABROAD
(Applicable to cases where
Resident being a Vietnamese citizen who carries foreign currency overseas via
border checkpoint for the purposes of study, medical treatment, subsidy, etc..)
Mr. (Ms.):..............................................................................................................................
Date of
birth:............................................. Place of
birth:........................................................
Permanent
address:...............................................................................................................
Passport No.:...................
Date of issue:.......................... Place of
issue:................................
Would like to confirm the
following amount of cash in foreign currency:
- In
number............................................................................................................................
- In
words..............................................................................................................................
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+ The purchase from the bank
+ Withdrawal from individual
account
+ Own foreign currency
To be carried via the border
checkpoint:...................................................................................
Purpose of the request for
carrying foreign currency
overseas:....................................................
This confirmation shall take
effect till the end of the
date:...........................................................
You must seriously comply with
applicable provisions of the State on foreign exchange control for the carrying
of cash in foreign currency abroad.
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