VietnameseDecision No. 236/1999/QD-NHNN7 dated July 07, 1999 of the State Bank on carrying cash in foreign currencies and Vietnamese dong through boder gates
ATTRIBUTE
Decision No. 236/1999/QD-NHNN7 dated July 07, 1999 of the State Bank on carrying cash in foreign currencies and Vietnamese dong through boder gates
| Issuing body: | State Bank of Vietnam | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 236/1999/QD-NHNN7 | Signer: | Le Duc Thuy |
| Type: | Decision | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 07/07/1999 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Finance - Banking |
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THE STATE BANK OF VIETNAM ------- | SOCIALIST REPUBLIC OF VIETNAM Independence- Freedom- Happiness ------------ |
No.236/1999/QD-NHNN7 | Hanoi, July 7, 1999 |
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.
2. For those who exit Vietnam (exit individuals):
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:
a. KHR1,000,000.
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.
Article 4.- The director of the State Bank’s branch can authorise a commercial bank’s branch in the associated province to grant licenses to individuals to carry cash in foreign currencies and Dong with the following levels of value:
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.
Article 6.- Organisations and individuals violating stipulations in this Decision are administratively punished or prosecuted according to the law based on their violation’s nature.
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
FOR LICENCE FOR CARRYING CASH IN FOREIGN CURRENCIES AND VIETNAMESE DONG OVERSEAS
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 |
STATE BANK (authorised commercial bank) branch Province of: | SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom – Happiness ------------ |
LICENCE
FOR CARRYING CASH IN FOREIGN CURRENCIES AND VIETANMESE DONG OVERSEAS
Granted to:
Permanent address:
Licensed to carry:
Through:
Purpose(s) of currency carriage:
This licence is effective until dated ......, month ......, year .....
DIRECTOR Signature and stamp |
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