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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:
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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.
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a. Payment for study, medical
treatment cost of themselves or of their relatives;
b. Going abroad for business,
travelling and visit;
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d. Providing subsidies to
oversea relative;
e. Remitting bequeathed money to
oversea inheritor;
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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.
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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.
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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.
6. Pursuant to the provisions of
the Law on the issuance of legal documents, previous provisions that are
contrary to the Decree No. 13/2005/ND-CP shall cease their effectiveness.
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THE
BANK..
(Name of the authorized bank)
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No.:
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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..)
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Date of
birth:............................................. Place of
birth:........................................................
Permanent
address:...............................................................................................................
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Would like to confirm the
following amount of cash in foreign currency:
- In
number............................................................................................................................
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- Of which foreign currency
source is originated from:
+ The purchase from the bank
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+ Own foreign currency
To be carried via the border
checkpoint:...................................................................................
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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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(GENERAL)
MANAGER OF THE BANK
(Sign and seal)
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