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STATE
BANK OF VIETNAM
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SOCIALIST
REPUBLIC OF VIETNAM
Independence-Freedom-Happiness
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No.
416/1998/QD-NHNN7
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Hanoi,
December 08th, 1998
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DECISION
ON
THE CARRYING OF GOLD BY INDIVIDUALS UPON ENTRY INTO AND EXIT FROM THE COUNTRY
THE GOVERNOR OF THE STATE BANK
Pursuant to The Law on the
State Bank of Vietnam promulgated by the Decree No. 1/L-CTN dated 26/12 1997 of
the Chairman of the Socialist Republic of Vietnam;
Pursuant to the Decree No.88/1998/ND-CP dated 2 November, 1998 of the
Government on the functions, authority and organizational structure of the
State Bank
Pursuant to the Decree No.63/1998ND-CP dated 17 August, 1998 of the Government
on foreign exchange control;
Upon proposal of the Director of the foreign exchange control Department,
DECIDES
Article 1.
This Decision shall apply to the
carrying of gold by the residents and non-residents being individuals
(hereinafter called individuals) upon entry and exit through the Vietnam
checking points with passports issued by competent authority of Vietnam or of
foreign countries.
Article 2.
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Article 3.
Individuals upon entry and exit
through Vietnamese check points carrying gold (not gold of international
standard) of weight in excess of the weight provided for in Article 2 of this
Decision but not more than 3,000 grams (three thousand grams) shall be subject
to customs declaration at the check points and pay tax in accordance with
current laws for the excess weight. If the gold carried is more than 3,000
grams (three thousand grams), the excess shall be deposited in the customs
store for carrying out upon exit or for sending abroad. The individuals concerned
shall bear all the related costs.
The gold carried into Vietnam by
individuals can be sold to enterprises authorised to carry out gold business
for Vietnamese Dong to cover expenses in Vietnam or for other legal purposes.
Individual upon entry carrying
gold of international standard shall complete procedures to deposit this gold
in the custom store for carrying out when exiting the country or to send
abroad. The individuals concerned shall bear all the related costs.
Article 4.
Individuals exiting through the
checking points of Vietnam and carrying gold of weight in excess of 300 grams
(three hundred grams) shall have a permit of the State Bank for the weigh in
excess of 300 grams (three hundred grams).
If the individuals carry gold of
weight in excess of the limit provided for in Article 2 of this Decision but
not more than the weight declared upon entry (if any), they shall have to
present the customs declaration to the customs office and shall not require a
State Bank permit.
Article 5. Application procedures
to apply for the permit to carry gold upon exit
Individuals requiring a permit
to carry gold upon the exit as provided for in Article 4 of this Decision shall
file an application to the State Bank Head office or the State Bank branches in
the provinces and cities in accordance with the authority to issue permits
stipulated in Article 6 of this Decision. The file shall consist of:
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2. Documents for evidencing the
source of the gold, if any;
3. A copy of the passport
certified by the notary public (if the copy is not certified by the notary
public, the original is to present for checking)
Within 10 working days since the
date of receipt of complete file, the State Bank or the State Bank branches in
the provinces or cities shall issue the permit or refuse to issue the permit.
In case of refusal, the State Bank or the State Bank branches shall explain the
reasons for doing so in writing.
Article 6. Authority to
issue the permit to carry gold upon exit
General managers of State Bank
branches in the provinces and centrally managed cities shall consider and issue
permits to individuals to carry gold of weight up to 2,000 grams (two thousand
grams); Permission to carry gold of weight in excess of 2,000 grams shall be by
the State Bank-Head office.
Article 7.
This Decision shall be effective
from the date of signing. Previous provisions in conflict with this Decision
shall be repealed.
Article 8.
The Head of Governor office, The
Director of Foreign Exchange Control Department, Heads of Department related in
the State Bank, General Managers of State Bank Branches in the provinces and
cities and individuals concerned shall be responsible for the enforcement of
this Decision.
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FOR
THE GOVERNOR OF THE STATE BANK OF VIETNAM
DEPUTY GOVERNOR
Le Duc Thuy
