Circular 56/2026/TT-NHNN amend Circular 34/2025/TT-NHNN on management of gold business activities

CIRCULAR

Amending and supplementing a number of articles of Circular No. 34/2025/TT-NHNN guiding a number of articles of the Government’s Decree No. 24/2012/ND-CP dated April 03, 2012, on management of gold business activities, which was amended and supplemented under Decree No. 232/2025/ND-CP

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;

Pursuant to the Law on Credit Institutions No. 32/2024/QH15, amended and supplemented under Law No. 96/2024/QH15;

Pursuant to the Law on Investment No. 143/2025/QH15;

Pursuant to the Government’s Decree No. 24/2012/ND-CP on management of gold business activities, amended and supplemented under Decree No. 232/2025/ND-CP and Decree No. 390/2026/ND-CP;

Pursuant to the Government’s Decree No. 24/2026/NQ-CP on reduction, decentralization and simplification of administrative procedures and business conditions in the fields of national defense, home affairs, finance, construction, foreign affairs, justice and banking;

Pursuant to the Government’s Decree No. 26/2025/ND-CP defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam, amended and supplemented under Decree No. 198/2026/ND-CP;

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

The Governor of the State Bank of Vietnam hereby promulgates the Circular amending and supplementing a number of articles of Circular No. 34/2025/TT-NHNN guiding a number of articles of the Government’s Decree No. 24/2012/ND-CP dated April 03, 2012, on management of gold business activities, which was amended and supplemented under Decree No. 232/2025/ND-CP.

Article 1. To amend and supplement Article 1

“Article 1. Scope of regulation

This Circular provides guidance on the grant, modification, and revocation of licenses for trading in gold bars; production of gold bars; export and import of gold; grant of gold export and import quotas; connection and provision of information by enterprises and credit institutions engaged in gold trading activities; and the reporting regime as prescribed in the Government’s Decree No. 24/2012/ND-CP on management of gold business activities, as amended and supplemented under Decree No. 232/2025/ND-CP and Decree No. 390/2026/ND-CP (hereinafter referred to as Decree No. 24/2012/ND-CP).”

Article 2. To amend and supplement Clause 3 Article 4

3. A document evidencing that the locations registered as gold bar trading locations according to the list specified in Clause 2 of this Article have been notified to the competent business registration agency in accordance with law.”

Article 3. To amend and supplement Clause 3 Article 7

3. A contract with a foreign party for processing gold jewelry and art crafts or a contract for exporting gold jewelry and art crafts.”

Article 4. To amend and supplement a number of clauses of Article 12

1. To amend and supplement Clause 1 as follows:

“1. Documents included in the dossiers of application for grant or modification of licenses, or quotas in gold business activities as prescribed in Chapters II and III of this Circular must be signed by the legal representative or the authorized representative (hereinafter referred to as the authorized representative). In case of authorization, the dossier must include a written authorization made in accordance with law.”

2. To amend and supplement Clause 2 as follows:

“2. The dossier of application for grant of licenses, or quotas must be made in one (01) set in Vietnamese.”

3. To amend and supplement Clause 3 as follows:

“3. Submitted copies included in the dossier must be issued from master registers or be certified true copies, or copies submitted together with original documents for comparison. In case the applicant submits copies together with the originals for comparison, the officer conducting the comparison shall sign the confirmation on the copies and take responsibility for the accuracy of such copies against the originals.

Where a dossier component is an electronic copy, the applicant shall submit an electronic copy issued from the master register or an electronic copy certified from the original in accordance with law, except as specified at Point dd Clause 5 of this Article.

With respect to the dossier component constituting a tax agency’s certification of the amount of tax paid in connection with gold business activities during the 2 (two) immediately preceding years by an enterprise specified in Clause 4 Article 4 of this Circular, the State Bank of Vietnam shall retrieve and use information from the National Database and specialized databases. Where the information cannot be retrieved or the retrieved information is incomplete, the State Bank of Vietnam shall require the enterprise to supplement its dossier.

With respect to the dossier component constituting the investment registration certificate specified in Clause 2 Article 7, Clause 2 Article 8, and Clause 2 Article 9 of this Circular, the SBV regional branch with which the enterprise files its dossier shall retrieve and use information from the National Database and specialized databases. Where the information cannot be retrieved or the retrieved information is incomplete, the SBV regional branch shall require the enterprise to supplement its dossier.”

4. To amend and supplement Clause 6 as follows:

“6. Within 3 (three) working days from the date of receipt of the dossier of application for grant or modification of licenses, or quotas in gold business activities as prescribed in Chapters II and III, the State Bank of Vietnam or the SBV regional branch shall issue a written notification confirming the completeness and validity of the dossier.”

Article 5. To amend and supplement Article 15

“Article 15. Procedures for grant of gold material import licenses for enterprises making offshore investment in gold mining; and gold material export licenses for licensed gold mining enterprises in Vietnam

1. An enterprise making offshore investment in gold mining that wishes to import gold material exploited by the enterprise abroad, or an enterprise holding a gold mining license in Vietnam that wishes to export gold material exploited by the enterprise in Vietnam, shall submit one set of dossier as prescribed in Articles 8, 9, and 12 of this Circular to the SBV regional branch where the enterprise is headquartered.

2. Within 10 (ten) working days from the date of receipt of a complete and valid dossier as prescribed in Articles 8 and 9 of this Circular, the Director of the SBV regional branch where the enterprise is headquartered shall consider granting or refusing to grant (with reasons clearly stated) the gold material import license for the enterprise making offshore investment in gold mining, or the gold material export license for the licensed gold mining enterprise in Vietnam, using the form provided in Appendix No. 14 to this Circular.”

Article 6. To amend and supplement Point c Clause 2 Article 26

“c) Information on gold material trading activities (counterparties, volumes, fineness and transaction values); information on the use and inventory of imported gold material.”

Article 7. To amend and supplement Clause 3 Article 29

“3. On a quarterly or annual basis, or when necessary, enterprises engaged in gold trading shall submit reports on their gold trading activities to the SBV regional branch in the locality in accordance with the following provisions:

a) Gold trading enterprises having a contract to process gold jewelry and art crafts for a foreign party and obtaining a license for import of gold material for performance of processing contracts and export of the processed products shall submit reports on their gold material import, production and export of gold jewelry and art crafts, made according to the form provided in Appendix No. 05a to this Circular.

b) Foreign-invested enterprises obtaining a gold material import license for production of gold jewelry and art crafts for export shall submit reports on their gold export and import and sale of gold products in Vietnam, made according to the form provided in Appendix No 05b to this Circular.

c) Enterprise making offshore investment in gold mining that are granted a license to import raw gold, and enterprises having a license for gold mining in Vietnam that are granted a gold material export license, shall report on the export and import of gold, using the form provided in Appendix No. 08 to this Circular.”

Article 8. To amend and supplement a number of clauses of Article 32

1. To amend and supplement Clause 3 as follows:

“3. The Monetary Policy Department, the Forecasting and Statistics Department and the Credit Institutions Supervision Department shall designate representatives to participate in the Quota Determination Council prescribed in Article 18 of this Circular, and coordinate with the Foreign Exchange Management Department in performing the tasks specified in the Regulation on operation of the Quota Determination Council.

2. To amend and supplement Clause 5 as follows:

“5. The Office of the State Bank shall receive and publish on the State Bank of Vietnam’s website the buying and selling prices of gold bars provided by enterprises and credit institutions licensed for gold bar trading.”

3. To amend and supplement Clause 6 as follows:

“6. The SBV Inspectorate and SBV regional branches shall conduct inspection, examination, and handle violations relating to the production of gold bar; gold bar trading; gold bar and gold material export and import; compliance with regulations on licensing, quotas, reporting, purchase, and use of imported gold material, and gold trading activities specified in Clause 9 Article 4 of Decree No. 24/2012/ND-CP in accordance with law.”

Article 9. To repeal, amend and replace a number of phrases, Articles and Appendices

1. To repeal Clause 3 Article 13 and Article 22.

2. To amend the titles of Chapter II, Chapter IV and Chapter V as follows:

a) Chapter II: “APPLICATION DOSSIERS FOR GRANT OR MODIFICATION OF LICENSES FOR TRADING IN GOLD BARS AND LICENSES FOR PRODUCTION OF GOLD BARS”;

b) Chapter IV: “PROCEDURES FOR GRANT OR MODIFICATION OF GOLD BAR TRADING LICENSES; GOLD BAR PRODUCTION LICENSES; QUOTAS FOR GOLD EXPORT AND IMPORT; GOLD IMPORT AND EXPORT LICENSES”;

c) Chapter V: “DOSSIERS AND PROCEDURES FOR REVOCATION OF LICENSES FOR TRADING IN GOLD BARS AND LICENSES FOR PRODUCTION OF GOLD BARS”.

3. To replace the phrase “temporary import of gold material for re-export of products” with the phrase “import of gold material for performance of processing contracts and export of the processed products” in Article 6, Article 14 and Clause 5 Article 29.

4. To replace the phrase “re-export of products” with the phrase “export of the processed products” in Clause 2 Article 14.

5. To replace the phrase “temporary import and re-export” with the phrase “import and export” at Point c Clause 1 and Point c Clause 2 Article 6.

6. To repeal and replace a number of Appendices and phrases from Appendices as follows:

a) To repeal Appendix No. 01, Appendix No. 11, Appendix No. 12; Appendix No. 19 and Appendix No. 24;

b) To replace the phrase “the State Bank (the Foreign Exchange Management Department) with the phrase “SBV regional branch” in Appendix No 05b;

c) To replace the phrase “enterprise obtaining a certificate of eligibility for production of gold jewelry and art crafts” with the phrase “enterprise registering for production of gold jewelry and art crafts as prescribed by law” in Appendix No. 17 and Appendix No. 18;

d) To replace Appendices Nos. 02, 03, 04a, 04b, 06, 07, 08, 09, 10, 13a, 14, 22 and 26 with Appendices Nos. 02, 03, 04a, 04b, 06, 07, 08, 09, 10, 13a, 14, 22 and 26 to this Circular.

Article 10. Implementation provisions

1. This Circular takes effect from October 19, 2026, excluding regulations in Clause 2 of this Article.

2. Reporting and information connectivity by SBV regional branches and enterprises and credit institutions using the forms provided in Appendices Nos. 22 and 26 to Circular No. 34/2025/TT-NHNN shall be carried out as follows:

a) For the reporting period of the third quarter of 2026, SBV regional branches shall submit reports in accordance with Circular No. 34/2025/TT-NHNN. From the reporting period of the fourth quarter of 2026 and the annual reporting period of 2026 onward, reports on the management of gold trading activities within their localities shall be submitted in accordance with this Circular;

b) For the reporting periods of October, November and December 2026 and the annual reporting period of 2026, enterprises and commercial banks licensed to export/import gold bars or import gold material shall submit reports and connect information in accordance with Circular No. 34/2025/TT-NHNN. From the reporting period of January 2027 and the annual reporting period of 2027 onward, reporting and information connectivity shall be carried out in accordance with this Circular.

3. Heads of units under the State Bank of Vietnam, enterprises and credit institutions engaged in gold trading activities shall organize the implementation of this Circular./.