Circular 20/2022/TT-NHNN one-way money transfer abroad from Vietnam

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Circular No. 20/2022/TT-NHNN dated December 30, 2022 of the State Bank of Vietnam guiding activities of one-way money transfer abroad from Vietnam and payment and money transfer for other current transactions of institutional residents or individual residents
Issuing body: State Bank of VietnamEffective date:
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Official number:20/2022/TT-NHNNSigner:Pham Thanh Ha
Type:CircularExpiry date:Updating
Issuing date:30/12/2022Effect status:
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Fields:Finance - Banking

SUMMARY

3 cases of one-way money transfer abroad for purposes of providing aid

Circular No. 20/2022/TT-NHNN guiding activities of one-way money transfer abroad from Vietnam and payment and money transfer for other current transactions of institutional residents or individual residents is issued on December 30, 2022 by the State Bank of Vietnam.

Accordingly, cases of buying, transferring or carrying abroad foreign currencies to serve the institutional residents’ purposes of providing financial assistance and aid include:

Firstly, buying, transferring or carrying abroad foreign currencies to provide financial assistance and aid under commitments and agreements between the State, Government, local administrations at all levels and foreign countries. Funding and aid sources are funds from the budget or financial sources of such donor or aid organizations themselves;

Secondly, buying and transferring abroad foreign currencies to provide financial assistance and aid in overcoming consequences of natural disasters, epidemics and wars. Funding and aid sources are voluntary contributions from domestic organizations and individuals and/or financial sources of such donor or aid organizations themselves;

Thirdly, buying and transferring abroad foreign currencies to provide financial assistance for programs, funds and projects established by domestic and/or overseas organizations for the purpose of supporting and encouraging the development in fields: culture, education (scholarship funding), health. Funding sources are financial sources of such donor organizations themselves.

Besides, organizations are entitled to buy and transfer abroad money in one-way form by institutional residents to serve other purposes, such as funding allocation to overseas members to participate in the implementation of scientific research projects and themes in Vietnam and abroad; funding refund for implementation of projects in Vietnam under commitments and agreements with foreign parties, etc.

This Circular takes effect from February 15, 2023.

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Effect status: Known

THE STATE BANK

OF VIETNAM

____

No. 20/2022/TT-NHNN

THE SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

____________________

Hanoi, December 30, 2022

 

CIRCULAR

Guiding activities of one-way money transfer abroad from Vietnam and payment and money transfer for other current transactions of institutional residents or individual residents

_______________

 

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 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. 70/2014/ND-CP dated July 17, 2014, detailing a number of articles of the Ordinance on Foreign Exchange and the Ordinance Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange;

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 the Foreign Exchange Management Department;

The Governor of the State Bank of Vietnam promulgates the Circular guiding activities of money transfer abroad from Vietnam and payment and money transfer for other current transactions of institutional residents or individual residents.

 

Chapter I

GENERAL PROVISIONS

 

Article 1. Scope of regulation

1. This Circular guides the following activities:

a) Buying, transferring and carrying abroad foreign currencies by institutional residents for the purposes of one-way money transfer specified in Clause 1, Article 7 of the Government’s Decree No. 70/2014/ND-CP dated July 17, 2014, detailing a number of articles of the Ordinance on Foreign Exchange and the Ordinance Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange (hereinafter referred to as the Decree No. 70/2014/ND-CP);

b) Buying, transferring and carrying abroad foreign currencies by residents being Vietnamese citizens for the purposes of one-way money transfer specified in Clause 2, Article 7 of the Decree No. 70/2014/ND-CP;

c) Paying and transferring money for other current transactions specified at Point g, Clause 6, Article 4 of the Ordinance on Foreign Exchange (amended and supplemented) (hereinafter referred to as payment and money transfer for other current transactions).

2. Transactions of investment money transfer abroad by residents being Vietnamese citizens in order to obtain citizenship or settle abroad are not regulated by this Circular.

Article 2. Subjects of application

1. Banks, foreign bank branches licensed to deal in and provide foreign exchange services (hereinafter referred to as licensed banks).

2. Organizations and individuals being residents who perform activities of one-way money transfer abroad from Vietnam, and payment and money transfer for other current transactions.

3. Other organizations and individuals involved in activities of one-way money transfer abroad from Vietnam, and payment and money transfer for other current transactions.

Article 3. Interpretation of terms

1. Relatives mean persons of kinship, including biological father, biological mother, father-in-law, mother-in-law, adoptive father, adoptive mother, spouse, biological children, adopted children, daughter-in-law, son-in-law, full brother(s) and sister(s), with residents being Vietnamese citizens who apply to buy, transfer or carry abroad foreign currencies.

2. Proof of kinship means the documentation verifying the kinship specified in Clause 1 of this Article in accordance with the law provisions.

3. Purchase of foreign currencies means that institutional residents or individual residents use Vietnam dong to buy foreign currencies at licensed banks to transfer or carry abroad for the purposes specified in this Circular.

4. Transfer of foreign currencies means that institutional residents or individual residents transfer abroad foreign currencies through licensed banks.

5.  Carrying of foreign currencies means that residents being Vietnamese citizens or individuals representing institutional residents carry abroad foreign currencies in cash upon their exit.

 

Chapter II

BUYING, TRANSFERRING, CARRYING ABROAD FOREIGN CURRENCIES FOR ONE-WAY MONEY TRANSFER PURPOSES OF INSTITUTIONAL RESIDENTS

 

Article 4. Cases of buying, transferring, and carrying abroad foreign currencies for the purposes of one-way money transfer by institutional residents

1. Cases of buying, transferring or carrying abroad foreign currencies to serve the institutional residents’ purposes of providing financial assistance and aid:

a) Buying, transferring or carrying abroad foreign currencies to provide financial assistance and aid under commitments and agreements between the State, Government, local administrations at all levels and foreign countries. Funding and aid sources are funds from the budget or financial sources of such donor or aid organizations themselves;

b) Buying and transferring abroad foreign currencies to provide financial assistance and aid in overcoming consequences of natural disasters, epidemics and wars. Funding and aid sources are voluntary contributions from domestic organizations and individuals and/or financial sources of such donor or aid organizations themselves;

c) Buying and transferring abroad foreign currencies to provide financial assistance for programs, funds and projects established by domestic and/or overseas organizations for the purpose of supporting and encouraging the development in fields: culture, education (scholarship funding), health. Funding sources are financial sources of such donor organizations themselves.

2. Buying and transferring abroad money in one-way form by institutional residents to serve other purposes:

a) Giving rewards to non-residents being overseas organizations and individuals who participate in programs and contests held in Vietnam in accordance with relevant laws. Financial sources for giving rewards are financial sources of such non-residents or institutional residents;

b) Conducting one-way money transfer abroad for the following purposes from funding sources received by non-residents being overseas organizations and individuals:

(i) Funding allocation to overseas members to participate in the implementation of scientific research projects and themes in Vietnam and abroad;

(ii) Funding refund for implementation of projects in Vietnam under commitments and agreements with foreign parties.

Article 5. Sources of foreign currencies transferred or carried abroad

Sources of foreign currencies transferred or carried abroad for the purposes specified in Article 4 of this Circular include:

1. Foreign currencies on payment accounts.

2. Term deposits in foreign currencies.

3. Foreign currencies of licensed banks.

Article 6. Purchase of foreign currencies to transfer or carry abroad

1. Organizations wishing to buy foreign currencies to transfer or carry abroad for the purposes specified in Article 4 of this Circular shall comply with the guidance of licensed banks.

2. In cases where institutional residents buy foreign currencies from licensed banks to carry abroad for the purposes specified at Point a, Clause 1, Article 4 of this Circular at the levels required to make customs declarations, the licensed banks shall issue written certification for carrying abroad foreign currencies in cash in accordance with regulations on carrying foreign currencies in cash upon entry and exit.

3. Within the available foreign currency capacity, the licensed banks shall sell foreign currencies to institutional residents to transfer or carry abroad for the purposes specified in Article 4 of this Circular.

Article 7. Transferring, carrying abroad foreign currencies from foreign currency sources on payment accounts, term deposits in foreign currencies

1. Organizations wishing to use foreign currencies on their payment accounts or term deposits in foreign currencies to transfer or carry abroad for the purposes specified in Article 4 of this Circular shall comply with the guidance of licensed banks.

2. In cases where institutional residents withdraw foreign currencies in cash from payment accounts or term deposits in foreign currencies to carry abroad for the purposes specified at Point a, Clause 1, Article 4 of this Circular at the levels required to make customs declarations, they must comply with the provisions of Clause 2, Article 6 of this Circular.

Article 8. Levels of foreign currencies bought, transferred and carried abroad

1. The levels of foreign currencies bought, transferred or brought abroad in the cases specified at Points a and b, Clause 1, Clause 2, Article 4 of this Circular shall be determined based on the amount of money stated in relevant papers and documents.

2. The levels of foreign currencies bought or carried abroad in the cases specified at Point c, Clause 1, Article 4 of this Circular shall be determined based on the amount of money stated in relevant papers and documents but must not exceed USD 50,000 (in words: fifty thousand US dollars) or other foreign currencies with a value equivalent to one-way transfer.

 

Chapter III

BUYING, TRANSFERRING, CARRYING ABROAD FOREIGN CURRENCIES FOR ONE-WAY MONEY TRANSFER PURPOSES OF RESIDENTS BEING VIETNAMESE CITIZENS

 

Article 9. Cases of buying, transferring and carrying abroad foreign currencies for the purposes of one-way money transfer by residents being Vietnamese citizens

1. Residents being Vietnamese citizens may buy, transfer or carry abroad foreign currencies for the purposes of one-way money transfer specified in Clause 2, Article 7 of the Decree No. 70/2014/ND-CP.

2. The purchase, transfer, and carrying of foreign currencies shall be conducted by residents being Vietnamese citizens or legal representatives of Vietnamese citizens or relatives of Vietnamese citizens who are studying or receiving medical treatment abroad under the guidance of licensed banks in accordance with the law provisions.

Article 10. Sources of foreign currencies transferred or carried abroad

Sources of foreign currencies transferred or carried abroad for the purposes specified in Article 9 of this Circular include:

1. Foreign currencies owned by individuals (foreign currencies on their payment accounts, term deposits in foreign currencies, savings deposit in foreign currencies, foreign currencies stored by themselves).

2. Foreign currencies bought from licensed banks.

Article 11. Purchase of foreign currencies to transfer or carry abroad

1. Residents being Vietnamese citizens who wish to buy foreign currencies to transfer or carry abroad for the purposes of one-way money transfer specified in Clause 2, Article 7 of the Decree No. 70/2014/ND-CP shall comply with the guidance of licensed banks.

2. In cases where residents being Vietnamese citizens buy foreign currencies from licensed banks to carry abroad for the purposes of one-way money transfer at the levels required to make customs declarations, the licensed banks shall issue written certification for carrying abroad foreign currencies in cash in accordance with the regulations on carrying foreign currencies in cash upon entry and exit.

3. Within the available foreign currency capacity, the licensed banks shall sell foreign currencies to residents being Vietnamese citizens to transfer or carry abroad for the purposes of one-way money transfer in accordance with this Circular.

4. Residents being Vietnamese citizens who have demand for foreign currencies in cash to carry abroad for the purposes of study, medical treatment, work, tourism or visit may buy foreign currency being the currency of the country where Vietnamese citizens visit at licensed banks. In cases where such country has no currency, the licensed banks may sell other freely convertible foreign currencies.

Article 12. Transferring and carrying foreign currencies from foreign currency sources of individuals

1. Residents being Vietnamese citizens who wish to use their own foreign currencies to transfer or carry abroad for the purposes of one-way money transfer specified in Clause 2, Article 7 of the Decree No. 70/2014/ND- CP shall comply with the guidance of licensed bank, except for the cases of carrying their own foreign currencies below the levels required for make customs declarations as prescribed.

2. Residents being Vietnamese citizens who carry abroad their own foreign currencies at the levels required to make customs declaration shall comply with the provisions of Clause 2, Article 11 of this Circular.

Article 13. Levels of foreign currencies bought, transferred and carried abroad

1. The levels of foreign currencies bought, transferred and carried abroad for the purposes of study and medical treatment specified at Point a, Clause 2, Article 7 of the Decree No. 70/2014/ND-CP shall be determined based on the expenses in the notices of foreign countries.

In the absence of such notices on living expenses and other related expenses for study and medical treatment purposes, in addition to tuition fees, hospital fees and other expenses already notified by the foreign countries, the licensed banks shall decide on the amount of buying, transferring and carrying additional foreign currencies for the above purposes as prescribed at Points a and b, Clause 4 of this Article.

2. The levels of foreign currencies bought, transferred or carried abroad for the purposes of business trips, tours, and visits to foreign countries specified at Point b, Clause 2, Article 7 of the Decree No. 70/2014/ND-CP shall be determined by licensed banks based on the reasonable needs of individuals and as prescribed at Point b, Clause 4 of this Article.

3. The levels of foreign currencies bought or transferred abroad for the purposes of paying fees and charges to foreign countries specified at Point c, Clause 2, Article 7 of the Decree No. 70/2014/ND-CP shall be determined based on the expenses in the notices of foreign countries.

4. The levels of foreign currencies bought or transferred abroad for the purposes of providing support to overseas relatives specified at Point d, Clause 2, Article 7 of the Decree No. 70/2014/ND-CP shall comply with the following provisions:

a) Licensed banks shall determine the levels of foreign currencies bought and transferred on the basis of reasonable needs of individuals and suitable for the purposes of supporting living expenses and stabilizing the life of overseas beneficiaries;

b) The levels of foreign currencies bought or transferred to overseas beneficiaries in a year must not exceed the per capita income at current prices of the countries where the beneficiaries are living. On an annual basis, licensed banks shall update data on per capita income at current prices of countries published at the latest time on the website of the World Bank in order to serve as the basis for determining the levels of foreign currencies bought or transferred for the purposes of providing support to overseas relatives;

c) The purchase and transfer of foreign currencies abroad for the purposes of providing support to relatives shall not apply to the cases where the relatives are studying, receiving medical treatment, working, traveling or visiting abroad.

5. The levels of foreign currencies bought or transferred abroad for the purposes of transferring inheritance money to overseas heirs specified at Point dd, Clause 2, Article 7 of the Decree No. 70/2014/ND-CP shall be determined based on the value of properties that are bequeathed to the heirs in accordance with the law provisions on inheritance.

6. The levels of foreign currencies bought or transferred abroad for the purposes of money transfer in cases of settlement abroad specified at Point e, Clause 2, Article 7 of the Decree No. 70/2014/ND-CP shall be determined based on the value of properties of settlers that are formed in Vietnam before naturalization abroad or before being eligible for residing abroad for settlement purposes in accordance with the regulations of the host country.

In cases of money transfer to pay expenses related to procedures for applying for settlement abroad (excluding investment value to obtain citizenship or settlement abroad), the levels of foreign currencies bought and transferred abroad shall be determined based on the expenses in the notices of foreign countries.

 

Chapter IV

PAYMENT AND MONEY TRANSFER FOR OTHER CURRENT TRANSACTIONS OF INSTITUTIONAL RESIDENTS OR INDIVIDUAL RESIDENTS

 

Article 14. Payment and money transfer for other current transactions

1. The payment and money transfer for other current transactions of institutional residents or individual residents include:

a) Payment and money transfer related to the following activities: temporary import, re-export, temporary export, re-import, transit, goods purchase and sale for foreign traders and hiring of foreign traders acting as sales agents in foreign countries, processing of goods for foreign traders and ordering of goods to be processed abroad, purchase and sale of goods through the mercantile exchange  of foreign countries via the mercantile exchange  of Vietnam connected with the mercantile exchange  of foreign countries, and other activities related to international goods purchase and sale in accordance with the law provisions on commerce;

b) Payment and money transfer related to social insurance contributions and social insurance payment;

c) Payment and money transfer related to premiums, reinsurance, reinsurance transfer, insurance brokerage, insurance auxiliary under international treaties to which the Socialist Republic of Vietnam is a contracting party or payment of compensation, insurance benefits;

d) Payment and money transfer under legally effective decisions or judgments of courts or arbitrations; or decisions of competent Vietnamese authorities;

dd) Payment and money transfer related to fines and compensation for property damage or injury that have not been covered by insurance.

2. Payment and money transfer for current transactions specified in Clause 1 of this Article must be made through licensed banks.

 

Chapter V

ORGANIZATION OF IMPLEMENTATION

 

Article 15. Reporting

1. On a monthly basis, no later than the 20th of the reporting month, the licensed banks shall report on the situation of buying, transferring and carried abroad foreign currencies of institutional residents for the purposes of providing financial assistance and aid as prescribed in Article 4 of this Circular (made according to the form in the Appendix issued together with this Circular). The closing time for reporting data shall be calculated from the 15th of the previous month to the 14th of the reporting month. The report may be sent by email to the address "" of the State Bank of Vietnam.

2. On a monthly basis, the licensed banks shall report on the situation of buying, transferring and carried abroad foreign currencies of residents being Vietnamese citizens, the situation of buying and selling foreign currencies in cash with individuals in accordance with regulations on statistical reporting regime of the State Bank of Vietnam.

Article 16. Responsibilities of licensed banks

1. Strictly implementing and guiding customers to implement the provisions of this Circular.

2. Developing and assuming the responsibility for the contents of internal regulations on professional processes related to one-way money transfer abroad, and payment and money transfer for other current transactions, in which include at least the following:

a) Regulations on papers and documents related to money transfer transactions to ensure that the provision of foreign exchange services is carried out for the right purposes and in accordance with the provisions of this Circular and relevant laws;

b) Principles for setting the levels of buying, transferring and carrying foreign currencies for the purposes of one-way money transfer;

c) Inspecting and supervising data of buying, transferring and carrying foreign currencies of organizations and individuals for the purposes of one-way money transfer and other current transactions in the same banking system to ensure the amount of money bought, transferred, carried does not exceed the amount stated in relevant papers and documents, and the levels of foreign currencies bought, transferred or carried abroad specified in this Circular;

d) Requesting organizations and individuals to make a written commitment to buying, transferring and carrying foreign currencies in accordance with the levels of foreign currencies bought, transferred or carried abroad specified in this Circular.

3. Checking and keeping papers and documents consistent with actual transactions in accordance with this Circular and relevant laws.

4. Requesting organizations and individuals wishing to carry out transactions of buying, transferring and carrying foreign currencies for the purposes of one-way money transfer, and payment and money transfer for other current transactions to provide necessary information about organizations and individuals that buy, transfer and carry foreign currencies, and beneficiaries, including at least the following information:

a) Information identifying customers as organizations or individuals that buy, transfer or carry foreign currencies in accordance with the law provisions on prevention and combat of money laundering;

b) Necessary information about beneficiary organizations or individuals for payment and money transfer for the purposes of one-way money transfer and other current transactions: Names and account number of beneficiary organizations or individuals, beneficiary banks (address and country). In cases where their account number is not available, their valid identity card number or citizen identification number or passport number or equivalent legal documents must be produced.

5. The licensed banks have the right to refuse or not perform transactions of selling, transferring or issuing written certification for carrying abroad foreign currencies if organizations or individuals fail to provide complete and/or accurate information in accordance with Clause 4 of this Article.

6. Fully complying with the law provisions on prevention and combat of money laundering, terrorist financing, financing of proliferation of weapons of mass destruction.

Article 17. Responsibilities of concerned organizations and individuals

1. Providing sufficient information to licensed banks as prescribed in Clause 4, Article 16 of this Circular and taking the responsibility before law for the authenticity of information provided to the licensed banks.

2. Producing papers and documents when buying, transferring or carrying abroad foreign currencies for the purposes of one-way money transfer of individuals, and payment and money transfer for other current transactions in accordance with the regulations of licensed banks.

3. Producing papers and documents proving the purpose of providing financial assistance, funding sources, decisions on approval of funding levels by legal representatives of the organizations, written commitment on the legitimacy of money sources and other papers and documents as prescribed by licensed banks when buying, transferring or carrying foreign currencies for the purpose of one-way money transfer of organizations (except for the cases specified in Clause 4 of this Article).

4. Institutional residents that transfer abroad money for the purposes of providing financial assistance or aid from voluntary contributions specified at Point b, Clause 1, Article 4 of this Circular shall produce:

a) Documents on mobilization and receipt of voluntary contributions for providing financial assistance and aid, which includes the following main contents: purposes of financial assistance and aid; beneficiaries of financial assistance and aid; starting and ending time of receiving voluntary contributions; the methods to receive contributions are by bank transfer and/or in cash, the contribution currency is Vietnam Dong; information of accounts receiving voluntary contributions;

b) A list, including names, addresses (if any) and amount of voluntary contributions by organizations or individuals;

c) Proof of amount received from voluntary contributions;

d) Organizations' written commitment to opening only one account at a licensed bank to receive voluntary contributions;

dd) Other papers and documents as prescribed by licensed banks.

5. Taking the responsibility before law for the authenticity of papers and documents produced to licensed banks.

6. Not using a set of documents to buy, transfer or carry foreign currencies in excess of the amount stated in relevant papers and documents, and the levels of foreign currencies bought, transferred or carried abroad specified in this Circular at one or more licensed banks.

7. Using foreign currencies in cash purchased at licensed banks for the right purposes and in accordance with the law provisions.

8. Not buying, transferring or carrying abroad foreign currencies for the purposes of money laundering, terrorist financing, financing of proliferation of weapons of mass destruction, cheat, fraud and other violations of the law provisions.

9. Institutional residents that transfer abroad money for the purposes of providing financial assistance specified at Point c, Clause 1, Article 4 of this Circular shall only buy and transfer foreign currencies at a licensed bank during the entire process of providing financial assistance for each program, fund or project.

10. Institutional residents or individual residents shall, when making payments or transferring money abroad for purchase and sale of goods through the mercantile exchange of foreign countries, comply with the provisions of this Circular and regulations on purchase and sale of goods via the foreign mercantile exchange of Vietnam connected with the mercantile exchange of foreign countries, and relevant regulations.

11. Strictly complying with the provisions of this Circular and relevant laws.

Article 18. Implementation provisions

1. This Circular takes effect from February 15, 2023

2. Annulling the Circular No. 20/2011/TT-NHNN dated August 29, 2011 of the Governor of the State Bank of Vietnam, on the purchase and sale of foreign currencies in cash between individuals and licensed credit institutions.

3. Annulling Clause 3, Article 1 of the Circular No. 24/2018/TT-NHNN dated September 28, 2018 of the Governor of the State Bank of Vietnam, amending, supplementing and annulling a number of articles of the Circulars and documents on periodical reporting regime.

4. This Circular amends and supplements a number of articles of the following legal documents:

a) Amending and supplementing Point b, Clause 1, Article 17 of the Circular No. 02/2021/TT-NHNN dated March 31, 2021 of the Governor of the State Bank of Vietnam, guiding foreign currency transactions on the foreign currency market of credit institutions licensed to conduct foreign exchange activities as follows:

“b) Individuals being Vietnamese citizens who buy foreign currencies in cash for the purposes of study or medical treatment in foreign countries, or getting business trips, tours and visits to foreign countries.”.

b) Amending and supplementing Point a, Clause 1, Article 5 of the Circular No. 15/2011/TT-NHNN dated August 12, 2011 of the Governor of the State Bank of Vietnam, providing the carrying of foreign-currency and Vietnam-dong cash by persons on entry or exit as follows:

 “a) Licensed credit institutions shall be responsible for issuing written certification to individuals (including individuals representing institutional residents) for carrying foreign-currency or Vietnam-dong cash for the following purposes specified in Clauses 1, 2 and 3, Article 7 of the Government's Decree No. 70/2014/ND-CP dated July 17, 2014, detailing a number of articles of the Ordinance on Foreign Exchange and the Ordinance amending and supplementing a number of articles of the Ordinance on Foreign Exchange (made according to the form in the Appendix issued together with this Circular);”.

c) Supplementing Point i, Clause 2, Article 3 of the Circular No. 16/2014/TT-NHNN dated August 1, 2014 of the Governor of the State Bank of Vietnam, guiding the use of foreign currency and Vietnam dong accounts of residents and non-residents at licensed banks as follows:

“i) Spending to withdraw foreign currencies in cash to carry abroad for the purposes of providing financial assistance and aid in accordance with the law provisions on foreign exchange management.”.

Article 19. Organization of implementation

The Chief of Office, the Director of the Foreign Exchange Management Department, heads of units under the State Bank of Vietnam, licensed banks, and relevant organizations and individuals shall be responsible for the implementation of this Circular./ .

For the Governor

The Deputy Governor

PHAM THANH HA

 

* All Appendices are not translated herein.

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