Circular No. 17/2020/TT-NHNN amending the Circular No. 33/2013/TT-NHNN

CIRCULAR

Amending and supplementing a number of articles of the Circular No. 33/2013/TT-NHNN dated December 26, 2013 of the Governor of the State Bank of Vietnam guiding procedures for approval of the import and export of foreign-currency cash of licensed banks

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Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010; the Law on Amending and Supplementing a Number of Articles of the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Ordinance on Foreign Exchange dated December 13, 2005; the Ordinance Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange dated March 18, 2013;

 Pursuant to the Government's Decree No. 85/2019/ND-CP dated November 14, 2019 prescribing the performance of administrative procedures under the national single-window mechanism and ASEAN Single-Window mechanism and specialized inspection of imports and exports;

Pursuant to the Government's Decree No. 16/2017/ND-CP dated February 17, 2017 defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of Foreign Exchange Management Department;

The Governor of the State Bank of Vietnam promulgates the Circular amending and supplementing a number of articles of the Circular No. 33/2013/TT-NHNN dated December 26, 2013 of the Governor of the State Bank of Vietnam guiding procedures for approval of the import and export of foreign-currency cash of licensed banks (hereinafter referred to as the Circular No. 33/2013/TT-NHNN).

Article 1. To amend and supplement a number of articles of the Circular No. 33/2013/TT-NHNN

To amend and supplement Article 3 as follows:

“Article 3. Procedures for application for approval of the import and export of foreign-currency cash of licensed banks

1. Principles for declaring, sending, receiving, giving results of, exchanging and responding to information about, dossiers of application for approval of the export and import of foreign-currency cash of licensed banks:

a) Electronic dossiers used the digital signature shall be sent to the Vietnam National Single-Window portal. The declaring, sending, receiving, giving results, exchanging and responding to information, and using digital signatures on the Vietnam National Single-Window portal and specialized processing system of the State Bank of Vietnam shall comply with the Government's Decree No. 85/2019/ND-CP dated November 14, 2019 prescribing the performance of administrative procedures under the national single-window mechanism and ASEAN Single-Window mechanism and specialized inspection of imports and exports and amending, supplementing and replacing documents (if any);

b) In case a trouble or an error on the Vietnam National Single-Window portal or specialized processing system of the State Bank of Vietnam leads to inability to receive, exchange electronic information, the declaring, sending, receiving, giving results, exchanging and responding to information shall be performed by post or in person at the dossier receipt and result notification section of the State Bank - Hanoi Branch or of the State Bank - Ho Chi Minh City Branch;

c) The documents in the electronic dossier shall be electronic copies scanned from the originals (PDF file), except the written request for the import, export of foreign-currency cash, which are declared on the Vietnam National Single-Window portal. Documents in a paper dossier are originals or copies certified by the at-law representative of the licensed bank.

2. Such a dossier must comprise:

a) Written request for approval of the import, export of foreign-currency cash, made according to the Form in the Appendix 01 to this Circular;

b) A contract of import or/and export of foreign-currency cash signed between the licensed bank and foreign financial institution and its Vietnamese translate certified by the legal representative of the licensed bank (only sent for the first time and for additional changes);

c) The licensed bank’s internal regulations on the import, export of foreign-currency cash, including regulation on decentralization of authorization in import, export of foreign-currency cash in the system and regulation on management, supervision, and security in delivery and receipt, storage and transportation of foreign-currency cash that comply with regulations of the State Bank of Vietnam (only sent for the first time and for additional changes);

d) An authorization letter if the person signing the written request for approval is authorized representative of the licensed bank (only sent for the first time and for additional changes).

3. Order, procedures for approval of the import, export of foreign-currency cash:

a) Upon need for import, export of foreign-currency cash, the licensed bank shall make and send 01 (one) dossier to the State Bank - Hanoi Branch or the State Bank - Ho Chi Minh City Branch according to Clauses 1 and 2 of this Article;

b) Within 02 (two) working days from the date of receiving a complete and valid dossier as prescribed in Clause 2 of this Article, the State Bank - Hanoi Branch or the State Bank - Ho Chi Minh City Branch shall consider and approve the import, export of foreign-currency cash of the licensed bank, using the Form in the Appendix 02 to this Circular and send it to the licensed bank according to Points a and b, Clause 1 of this Article.

In case the dossier is not complete and valid, the State Bank - Hanoi Branch or the State Bank - Ho Chi Minh City Branch shall notify on the Vietnam National Single-Window portal or send a notice to the licensed bank (for cases defined at Point b, Clause 1 of this Article), clearly stating reasons.  

4. Within 03 (three) working days from the date of fully receiving documents related to the import, export of foreign-currency cash (telegraphic transfer receipt and customs declaration), the licensed bank shall send the State Bank - Hanoi Branch or the State Bank - Ho Chi Minh City Branch copies of telegraphic transfer receipt and customs declaration (certified by the legal representative of the licensed bank).”

Article 2.

To replace the Appendices 01, 02 and 03 to the Circular No. 33/2013/TT-NHNN with the Appendices 01, 02 and 03 to this Circular.

Article 3. Responsibility of implementation organization

The Chief of Office, Director of Foreign Exchange Management Department, Chief of the Banking Supervisory Agency, Heads of the units of the State Bank of Vietnam, Directors of the State Bank - Hanoi Branch, the State Bank - Ho Chi Minh City Branch, commercial banks, branches of foreign banks licensed for exchange operations shall be responsible for the implementation of this Circular.

Article 4. Implementation provision

This Circular takes effect on February 01, 2021.

* All Appendices are not translated herein.