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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.236/1999/QD-NHNN7
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Hanoi, July 7,
1999
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DECISION
ON CARRYING CASH IN FOREIGN CURRENCIES AND
VIETNAMESE DONG THROUGH BODER GATES
STATE BANK OF VIETNAM
GOVERNOR
Pursuant
to the State Bank of Vietnam Law No.01/1997/QH10 dated December 12, 1997;
Pursuant to Government’s Decree No.15/CP dated March 2, 1993 referring to State
management duties, powers and responsibilities of ministries and ministerial
bodies;
Pursuant to Government’s Decree No.63/1998/ND-CP dated August 17, 1998 on
foreign currency management;
Pursuant to the suggestion from the head of the Department for Foreign Currency
Management,
DECIDES
Article 1.- Those who reside or do not
reside in Vietnam which go through Vietnamese border gates with entry-exit
passports or border identity cards granted by the Vietnamese relevant bodies or
countries that adjoin Vietnam (hereinafter called entry-exit individuals) and
at the same time carry cash in foreign currencies (excluding that in Renminbi
of China-CNY, Kip of Laos - LAK and Riel of Cambodia - KHR) are required to
observe the following stipulations:
1. For those who enter Vietnam
(entry individuals):
Those who carry more than US$500 (five hundred
US dollars) or the same value of cash in other foreign currencies are required
to show the fund to border gate customs officers and then use the capital
according to Vietnam’s current
regulations on foreign currency management.
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These individuals are permitted to carry only
US$500 (five hundred US dollars) or the same value of cash in other foreign
currencies. If the individuals had entered the country and declared the cash
brought together with them by entry, they are permitted to carry more than
US$500 (the additional fund must not exceed that declared to customs officers
by entry) and required to show to customs officers the declaration made by
entry.
Article 2.- Entry- exit individuals who
carry cash in Renminbi, Kip, Riel and Vietnamese Dong with a value larger than
the following levels are required to declare to customs officers:
1. For those who go through Vietnam - China
border gates:
a. CNY5,000;
b. VND5,000,000.
1. For those who go through Vietnam - Laos
border gates:
a. LAK1,000,000;
b. VND5,000,000.
1. For those go through Vietnam - Cambodia
border gates:
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b. VND5,000,000.
Exit individuals, who carry cash in Renminbi,
Kip, Riel and Dong with a value larger than permissible levels or that declared
to customs officers by entry, are required to make a declaration to border
customs officers and be licensed by the State Bank’s branch in the associated border province or a
commercial bank’s branch in
that province which is authorised by the State Bank branch according to
stipulations on powers to grant licences stated in Article 3 of this Decision.
Exit individuals, who carry cash in foreign
currencies and Dong with a value exceeding the above permissible levels but not
exceeding that brought and declared to customs officers by entry, are required
to show licence(s) granted by the bank.
Article 3.- Exit individuals, who request
licences to carry cash in Renminbi, Kip, Riel and Dong with a value exceeding
permissible levels stated in Article 2 of this Decision, must send a written
licence aplication to the State Bank’s
branch in that the associated province or a commercial bank�s branch.
The application includes:
1. An application for a licence
to carry cash in foreign currencies and Dong overseas (made according to the
attached form);
2. A copy of the entry-exit
passport or border identity card;
3. Legal documents presenting
expenditure purposes abroad.
Licences for carrying cash in foreign currencies
and Dong with a value exceeding permissible levels is granted to individuals
based on the actual situation’s
state. Accordingly, individuals who are permitted to trade goods in
border markets and those who want to use their money for visit, travel, health
care and other expenditure purposes will be considered for licence.
Within five days from when receiving the
required documents, the State Bank’s
branch in the associated province or commercial bank’s branch which is authorised by the State Bank’s branch decides to or not grant a
licence to the requester based on reviewing his/her request, reasons for
and purposes of carrying cash overseas and other legal documents presenting
his/her expenditure purposes abroad. The authorities must show their written
reasons for their refusal to grant a licence.
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1. From more than CNY 5,000 to
CNY50,000;
2. From more than LAK1,000,000
to LKA10,000,000;
3. From more than KHR1,000,000
to KHR10,000,000;
4. From more than VND5,000,000
to VND 50,000,000.
Individuals must request a permit from the
director of the State Bank’s
branch to carry cash with a value exceeding the above levels.
Article 5.- The State Bank’s branch in the associated border
province directs commercial banks in that province to open foreign
currency exchange desks in border gates or other places convenient for
individuals, who enter and/or exit the country to trade goods, to exchange
their funds. The exchange desks are operated according to the following
principles:
1. Purchasing and selling cash in currencies of
countries joining the same border gates. The purchase of freely convertible
foreign currencies must be directed by a commercial bank’s branch in the associated border province.
2. The sale of cash in currencies of countries
joining the same border gates follows levels stated in Article 2 of this
Decision or levels stipulated in the licence granted by the State Bank’s branch or commercial bank’s in the associated province which
is authorised by this State Bank’s
branch.
3. The exchange rate between the Vietnamese Dong
and foreign currencies of countries joining the same border gates, which is
applicable to transaction between the bank and customers, is fixed by
commercial banks based on purchasing and selling rates circulating in the
market at the time concerned.
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Article 7.- This Decision comes into
effect 15days after the date of its signing.
Individuals, who go through border gates while
carrying cash in foreign currencies and Dong with passports granted by the Vietnamese
or foreign relevant bodies, are required to follow stipulations in Decision
No.337/1998/QD-NHNN7 dated October 10, 1998 of the State Bank of Vietnam
Governor which refers to carrying in foreign currencies and Dong when entering
or exiting Vietnam.
Article 8.- The head of the State Bank’s Office, heads of the Department
for Foreign Currency Management and relevant departments under the State
Bank of Vietnam, directors of State Bank’s
branches in border provinces, and general directors (directors) of
associated commercial banks are in charge of implementing this Decision.
Pp State
Bank of Vietnam Governor
Deputy
Governor
LE DUC THUY
APPLICATION
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To:
Name of applicant:
Permanent address:
Requesting licence for carrying:
Through:
Purposes of currency carriage:
I guarantee my responsibilities for using the
carried cash for the purpose(s) stated in this application. If not I will be
treated according to the laws.
..... date
......., month ......, year ......
Applicant
signature
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(authorised commercial bank) branch
Province of:
SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
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LICENCE
FOR CARRYING CASH IN FOREIGN CURRENCIES AND
VIETANMESE DONG OVERSEAS
Granted to:
Permanent address:
Licensed to carry:
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Purpose(s) of currency carriage:
This licence is effective until dated ......,
month ......, year .....
DIRECTOR
Signature and stamp