According to this document, regulations on application procedures for consent to export and import of foreign currency cash by authorized banks will be in effect as of February 1, 2021, including:
(1) Written request form for consent to import and export of foreign currency cash, made by using the form given in Appendix 01 to the Circular No. 17/2020 (replacing the form annexed to Circular No. 33);
(2) Foreign currency cash export and/or import contract signed between an authorized bank and another foreign bank or financial entity, enclosing the Vietnamese translation endorsed by that authorized bank’s legal representative;
(3) Internal rules and regulations of an authorized bank regarding foreign currency cash import and export activities, including those on assurance of compliance with regulations of the State Bank of Vietnam:
+ Rules and regulations regarding authorization for foreign currency cash import and export activities in the entire internal system;
+ Rules and regulations on management, supervision and assurance of safety for delivery, maintenance and transportation of foreign currency cash.
(4) Authorization letter that needs to be submitted in case the signatory to the written application for consent is the authorized bank’s legal representative.
Documents and records prescribed in (2), (3) and (4) required for the initial submission and for the supplementary purpose in case of any change to be made.
Circular No. 17/2020//TT-NHNN is entering into force as of February 1, 2021.
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