Decision No. 499/2000/QD-NHNN5 dated December 5, 2000 of the State Bank of Vietnam amending and supplementing a number of articles of the Regulation on organization of independent audit of credit institutions, issued together with Decision No. 322/1999/QD-NHNN5 dated September 14, 1999 of the State Bank Governor

DECISION

ON THE CARRYING OF FOREIGN CURRENCY(IES) IN CASH AND/OR VIETNAM DONG IN CASH BY INDIVIDUALS UPON THEIR ENTRY OR EXIT, WITH ENTRY/EXIT LAISSEZ-PASSERS OR BORDER IDENTITY CARDS

THE STATE BANK GOVERNOR

Pursuant to Vietnam State Bank Law No. 01/1997/QH10 of December 12, 1997;
Pursuant to the Government’s Decree No. 15/CP of March 2, 1993 on the tasks, powers and State management responsibilities of the ministries and ministerial-level agencies;
Pursuant to the Government’s Decree No. 63/1998/ND-CP of August 17, 1998 on the foreign exchange management;
At the proposal of the Director of the Foreign Exchange Management Department,

DECIDES:

Article 1.- Objects and scope of regulation

1. This Decision provides for carrying foreign currency(ies) in cash and/or Vietnam dong in cash (hereinafter called as foreign currencies and Vietnam dong) by individuals upon their entry or exit through Vietnam’s border-gates with entry/exit laissez-passers or border identity cards granted by the competent authorities of Vietnam or countries bordering on Vietnam (hereinafter called individuals).

2. For individuals who are on entry or exit with passports and carry foreign currencies in cash and/or Vietnam dong in cash, the regulations issued by the State Bank Governor in each period shall apply.

Article 2.- Carrying foreign currencies and Vietnam dong on exit

1. Individuals on exit are permitted to carry only Vietnam dong and the currencies of the countries of their entry under the provisions in Articles 4 and 5 of this Decision, but not US dollars or any other foreign currency (except for the cases specified in Clause 2 of this Article).

2. In cases where individuals on exit are permitted to carry US dollars or other foreign currency(ies), which they previously brought in and declared to the border-gate customs offices upon their entry, they must fill in the customs declaration procedures and present the customs declaration forms certifying that such foreign currency(ies) was brought in upon their entry. The border-gate customs offices shall base themselves on these customs declaration forms to permit the individuals to carry such foreign currency(ies) abroad upon their exit. The customs declaration forms certifying the foreign currency(ies) brought in upon the last entry shall be valid for permission to carry such foreign currency(ies) upon the subsequent exit for a time limit of 30 working days from the date of declaration of such foreign currency(ies) when being brought into Vietnam inscribed on the customs declaration forms upon entry.

Article 3.- Carrying foreign currencies and Vietnam dong upon entry

1. Individuals who are on entry from a foreign country, carrying the currency of such country and/or Vietnam dong, must declare such to the border-gate customs offices according to the provisions in Article 4 of this Decision.

2. Individuals who are on entry, carrying US dollars and/or other foreign currency(ies) valued over 3,000 USD (three thousand US dollars) or valued less than 3,000 USD but wishing to bring such currency amount abroad, must declare such to the border-gate customs offices.

Article 4.- Customs declaration

Individuals who are on entry or exit, carrying the currency of the country bordering on Vietnam, and/or Vietnam dong in amounts exceeding the levels prescribed below must declare such to the border-gate customs offices:

1. For cases going through the Vietnam-China border gates:

a/ 6,000 CNY (six thousand Chinese yuan);

b/ 10,000,000 VND (ten million Vietnam dong).

2. For cases going through the Vietnam-Laos border gates:

a/ 3,000,000 LAK (three million Lao kip);

b/ 10,000,000 VND (ten million Vietnam dong).

3. For cases going through the Vietnam-Cambodia border gates:

a/ 1,000,000 KHR (one million Cambodian riel).

b/ 10,000,000 VND (ten million Vietnam dong).

Article 5.- Presentation of permits

1. Individuals who are on exit, carrying the currency of the country bordering on Vietnam, and/or Vietnam dong in amounts exceeding the levels prescribed in Article 4 or exceeding the amounts they brought into Vietnam and already declared to the border-gate customs offices upon their entry, must present to the border-gate customs offices the permits granted by the State Bank’s branch of the border province or a commercial bank’s local branch authorized by the State Bank’s provincial branch.

2. Individuals who are on exit, carrying the currency of the country bordering on Vietnam, and/or Vietnam dong in amounts exceeding the levels prescribed in Article 4 but not exceeding the amounts they brought into Vietnam and already declared to the border-gate customs offices upon their entry, only need to present to the border-gate customs offices the customs declaration forms already filled in upon their entry.

Article 6.- Conditions and procedures for granting of permits

1. Individuals who fully meet the following conditions shall be granted permits to carry the currency(ies) of the countries(ies) bordering on Vietnam, and/or Vietnam dong under the provisions in Article 5 of this Decision.

a/ Being permitted by the competent authorities to exit the country with entry/exit laissez-passers or border identity cards;

b/ Having needs of spending abroad (for individuals being Vietnamese citizens) or have legitimate incomes in Vietnam (for individuals being citizens of the countries bordering on Vietnam).

2. Individuals who fully meet the conditions prescribed in Clause 1 of this Article and need to carry the currency(ies) of the country(ies) bordering on Vietnam, and/or Vietnam dong in amounts exceeding the levels prescribed to be declared or exceeding the amounts they brought into Vietnam and already declared to the border-gate customs offices upon their entry, must send dossiers of application for permits to the State Bank’s branch of the border province or a commercial bank’s local branch authorized by the State Bank’s provincial branch. Such a dossier consists of:

a/ The application for permit to carry abroad the currency of the country the bordering on Vietnam as well as Vietnam dong;

b/ A copy of the entry/exit laissez-passer or border identity card;

c/ Documents related to the needs of spending abroad (for individuals being Vietnamese citizens) or documents proving the legitimate incomes in Vietnam (for individuals being citizens of the countries bordering on Vietnam).

Within five working days after receiving the full dossiers, the State Bank’s branch of the border province or a commercial bank’s local branch authorized by the State Bank’s provincial branch must grant permits or refuse to grant permits. In case of refusal to grant a permit, the State Bank’s branch of the border province or a commercial bank’s local branch authorized by the State Bank’s provincial branch must issue a written reply clearly explaining the reason therefor.

Article 7.- Assignment of responsibility for granting of permits

1. The directors of the State Bank’s branches of the border provinces authorize the directors of the commercial bank’s local branches (provincial or district levels) to grant permits for carrying abroad the currencies of the countries bordering on Vietnam and the Vietnam dong according to the following levels:

a/ For the Vietnam-China border:

- From over 6,000 CNY to 60,000 CNY (sixty thousand Chinese yuan);

- From over 10,000,000 VND to 50,000,000 VND (fifty million Vietnam dong).

b/ For the Vietnam-Laos border:

- From over 3,000,000 LAK to 30,000,000 LAK (thirty million Lao kip);

- From over 10,000,000 VND to 50,000,000 VND (fifty million Vietnam dong).

c/ For the Vietnam-Cambodia border:

- From over 1,000,000 KHR to 10,000,000 KHR ( ten million Cambodian riel).

- From over 10,000,000 VND to 50,000,000 VND (fifty million Vietnam dong).

2. In cases where individuals ask for permission to carry an amount of money exceeding the above levels, the State Bank’s provincial branches shall consider and make decision.

Article 8.- Organizations and individuals violating the provisions in this Decision shall, depending on the seriousness and nature of the violations, be administratively handled or examined for penal liability according to the provisions of law.

Article 9.- This Decision takes effect 15 days after its signing and replaces the State Bank Governor’s Decision No. 236/1999/QD-NHNN7 of July 7, 1999 on the carrying of foreign currencies in cash and/or Vietnam dong in cash by individuals upon their entry or exit through border-gates.

Article 10.- The head of the Office, the director of the Foreign Exchange Management Department, the heads of various units of the State Bank, the directors of the State Bank’s branches of the border provinces, the general directors (directors) of the concerned commercial banks shall have to implement this Decision.