Thông tư 11/2014/TT-NHNN

CIRCULAR

ON THE CARRYING OF GOLD BY INDIVIDUALS ON EXIT OR ENTRY (*)

Pursuant to June 16, 2010 Law No. 46/2010/QH12 on the State Bank of Vietnam;

Pursuant to December 13, 2005 Ordinance No. 28/2005/UBTVQH11 on Foreign Exchange;

Pursuant to March 18, 2013 Ordinance No. 06/2013/UBTVQH13 Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange;

Pursuant to the Government’s Decree No. 156/2013/ND-CP of November 11, 2013, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold trading;

At the proposal of the director of the Department of Foreign Exchange Management,

The Governor of the State Bank of Vietnam promulgates this Circular to prescribe the carrying out of gold by individuals on exit or entry.

Article 1. Scope of regulation and subjects of application

This Circular prescribes the carrying of ingot gold, material gold, jewelry gold and fine-art gold articles on exit or entry in the following cases:

1. Vietnamese and foreign individuals who leave or enter Vietnam through border gates with passports or passport substitutes granted by competent Vietnamese or foreign agencies, except the papers specified in Clause 2 of this Article (below referred to as passports).

2. Vietnamese and foreign individuals who leave or enter Vietnam through border gates with border laissez-passers, entry or exit laissez-passers or border identity cards granted by competent agencies of Vietnam or countries bordering on Vietnam.

3. Foreign individuals permitted to permanently reside in Vietnam or Vietnamese individuals permitted to permanently reside abroad.

Article 2. Carrying of gold by individuals who leave or enter Vietnam with passports

1. Vietnamese and foreign individuals who leave or enter Vietnam with passports may not carry ingot gold and material gold. Foreign individuals who carry ingot gold and material gold when entering Vietnam with passports shall carry out the procedures for depositing the gold amount at the customs warehouse in order to bring it out of the country when being on exit or carry out procedures for bringing such amount abroad and shall bear all related expenses.

2. Vietnamese and foreign individuals who carry jewelry gold and fine-art gold articles in a total amount of 300 (three hundred) grams or more when leaving or entering Vietnam with passports shall declare such with customs offices.

Article 3. Carrying of gold by individuals who leave or enter Vietnam with border laissez-passers, entry or exit laissez-passers or border identity cards

1. Vietnamese and foreign individuals who leave or enter Vietnam with border laissez- passers, entry or exit laissez-passers or border identity cards may not carry raw material gold, ingot gold, jewelry gold and fine-art gold articles, except the cases specified in Clause 2 of this Article.

2. Vietnamese and foreign individuals who enter or leave Vietnam with border laissez- passers, entry or exit laissez-passers or border identity cards may wear jewelry gold for ornamental purpose, including rings, necklaces, strings, ear-rings, needles and other jewelry articles. If carrying of gold in a total amount of 300 (three hundred) grams or more, they shall declare such with customs offices.

Article 4. Carrying of gold by individuals leaving or entering Vietnam for permanent residence

1. If foreign individuals, who are permitted to permanently reside in Vietnam, carry along material gold, ingot gold, jewelry gold and fine-art gold articles in a total amount of 300 (three hundred) grams or more, they shall declare such with customs offices.

2. Vietnamese individuals, who are permitted to permanently reside abroad, may carry along material gold, ingot gold, jewelry gold and fine-art gold articles in accordance with the following provisions:

a/ Those who carry gold in a total amount of between 300 (three hundred) grams and under 1 (one) kilogram shall declare such with customs offices;

b/ Those who carry gold in a total amount of 1 (one) kilogram or more must have permits for carrying of gold out of the country for permanent residence abroad granted by State Bank branches of provinces or centrally run cities where they reside, and at the same time shall declare such with customs offices.

Article 5. Procedures for grant of permits for carrying of gold out of the country for permanent residence abroad

1. Vietnamese individuals, who are permitted to permanently reside abroad and wish to carry gold out of the country under Point b, Clause 2, Article 4 of this Circular, shall directly file or send by post 1 (one) set of dossier to State Bank branches of the provinces or centrally run cities where they reside. Such a dossier comprises:

a/ An application for a permit for carrying of gold out of the country for permanent residence abroad, made according to form provided in Appendix I to this Circular;.

b/ Sale invoice or another paper evidencing the lawful origin, or a written undertaking of the gold-carrying individual of the lawfulness, of the gold amount he/she needs to carry in case he/she has no invoice or another paper evidencing the origin of gold;

c/ Passport and entry visa, for the countries requesting entry visas;

d/ Decision of the authority competent to permit the permanent residence or another paper of equivalent value.

2. The documents specified at Points b, c and d, Clause 1 of this Article must be the originals or copies notarized in accordance with law. Documents in foreign languages must be translated into Vietnamese and notarized.

3. Within 15 (fifteen) working days after receiving a complete and valid dossier, the State Bank branches of the provinces or centrally run cities shall consider the grant of a permit for carrying of gold out of the country to the individual who wishes to permanently reside abroad, made according to the form provided in Appendix 2 to this Circular. In case of refusal to grant a permit, they shall reply in writing, clearly stating the reason.

4. A permit for carrying of gold out of the country by an individual wishing to permanently reside abroad is valid for 6 (six) months from the date of granting.

Article 6. Effect

1. This Circular takes effect on May 15, 2014, and replaces the Governor of the State Bank of Vietnam’s Decision No. 1165/2001/QD-NHNN of September 12, 2001, on the carrying of gold by individuals on exit and entry.

2. Chief of the Office, director of the Department of Foreign Exchange Management, heads of units of the State Bank of Vietnam, directors of State Bank branches of provinces and centrally run cities shall implement this Circular.-

* All the above forms are not translated.