Thông tư 34/2015/TT-NHNN

Circular No. 34/2015/TT-NH dated 31 December 2015, guidelines for the provision of foreign currency receipt and payment services

Nội dung toàn văn Circular No. 34/2015/TT-NH the provision of foreign currency receipt and payment services


VIETNAM STATE BANK
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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No. 34/2015/TT-NHNN

Hanoi, 31 December 2015

 

CIRCULAR

GUIDELINES FOR THE PROVISION OF FOREIGN CURRENCY RECEIPT AND PAYMENT SERVICES

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

Pursuant to the Law on credit institutions No. 47/2010/QH12 dated June 16th 2010;

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to the Government’s Decree 156/2013/ND-CP dated November 11th 2013 on regulating the functions, missions, authority and organizational structure of Vietnam State Bank;

Pursuant to the Prime Minister’s Decision 170/1999/QD-TTg  dated August 19th 1999 on encouraging Vietnamese expatriates' inbound transfer of currency and the Prime Minister’s Decision No. 78/2002/QD-TTg  dated June 17th 2002 on the amendments to the Decision No. 170/1999/QD-TTg  dated August 19th 1999 on encouraging Vietnamese expatriates’ inbound remittance;

At the request of the Head of Foreign Exchange Management Bureau;

The governor of Vietnam State Bank issues the Circular on the guidelines for the provision of foreign currency receipt and payment services.

Chapter I

GENERAL

Article 1. Scope of regulation

This Circular regulates the provision of foreign currency receipt and payment services, including the direct payment and receipt of foreign currency, the foreign currency receipt and payment agent's activities performed by credit institutions, foreign banks’ branches, economic organizations.

Article 2. Regulated entities

1. Credit institutions, foreign banks’ branches permitted to trade in and provide foreign exchange services (referred to as the permitted credit institutions).

2. Credit institutions, foreign banks’ branches not permitted to trade in and provide foreign exchange services (referred to as the credit institutions) and acting as the foreign currency receipt and payment agents for other economic organizations and permitted credit institutions.

3. The economic organizations that directly receive and make payments by foreign currency.

4. The economic organizations acting as the foreign currency receipt and payment agents for the permitted credit institutions.

5. Local beneficiaries who receive foreign currency transferred by Vietnamese expatriates or foreigners from a foreign nation into Vietnam (referred to as the beneficiaries).

6. Other organizations and individuals involved in the provision of foreign currency receipt and payment services.

Article 3. Principles for the credit institutions' and economic organizations' provision of foreign currency receipt and payment

1. The economic organizations directly receiving and making payments by foreign currency are only allowed to delegate credit institutions but not other economic organizations as foreign currency payment agents

2. The economic organizations and credit institutions acting as foreign currency payment agents are not allowed to delegate other economic organizations or credit institutions to perform the foreign currency payments.

3. A credit institution or economic organization can act as the foreign currency payment agent for one or more permitted credit institutions.

4. A credit institution is only allowed to act as the foreign currency payment agent for one economic organization.

5. If the foreign currency payment agent contract (hereinafter referred to as agent contract) with the delegating organization expires or is terminated early, the economic organization or credit institution acting as the foreign currency payment agent must terminate its foreign currency payment agent’s activities for the delegating organization.

6. If the agent contract with the foreign partner expires or is terminated early, the economic organization must terminate its direct payment and receipt of foreign currency with the said foreign partner.

Article 4. The power to approve the provision of foreign currency receipt and payment services

1. Vietnam State Bank (referred to as the State Bank) is responsible for:

a) Granting permission and approving changes and extensions of Vietnam Post Corporations’ direct payment and receipt of foreign currency;

b) Granting permission and approving changes and extensions of Vietnam Post Corporations’ registration of foreign currency receipt and payment agents;

c) Revoking the written permission and written approval of changes and extensions of Vietnam Post Corporations’ direct payment and receipt of foreign currency;

d) Revoking the written permission and written approval of changes and extensions of Vietnam Post Corporations’ registration of foreign currency receipt and payment agents.

2. The branches of the State Bank in municipalities (referred to as the State Bank's branches), where credit institutions and economic organizations locate their head offices, are responsible for:

a) Granting permission and approving changes and extensions of economic organizations’ direct payment and receipt of foreign currency;

b) Granting permission to registrations of foreign currency payment agents and approving changes and extensions of economic organizations' and credit institutions' registrations as foreign currency payment agents;

c) Revoking the written permission and written approval of changes and extensions of economic organizations’ direct payment and receipt of foreign currency;

d) Revoking the written permission to registrations of foreign currency payment agents and the written approval of changes and extensions of economic organizations' and credit institutions' registrations as foreign currency payment agents;

3. Credit institutions permitted to perform the provision of foreign currency receipt and payment services (including the direct and agent’s receipt and payment by foreign currency) are not required to conduct the formalities of requesting State Bank's approvals as stipulated in this Circular.

Article 5. Changes

1. Changes of the following contents must be ratified by the State Bank:

a) For the economic organizations that directly receive and make payments by foreign currency.

(i) Changes of economic organizations’ names and addresses;

(ii) Changes or additions of foreign partners;

b) For the credit institutions acting as foreign currency payment agents:

(i) Changes of names of credit institutions acting as foreign currency payment agents;

(ii) Additions of credit institutions allowed to delegate foreign currency payment agents;

c) For the economic organizations acting as foreign currency payment agents:

(i) Changes of economic organizations’ names and addresses;

(ii) Additions of credit institutions allowed to delegate foreign currency payment agents;

2. Changes of the following contents are only reported to the State Bank according to section 3 of this Article, without the procedures of requesting the State Bank’s approval:

a) For the economic organizations that directly receive and make payments by foreign currency.

(i) Changes, additions and removals of locations for foreign currency payment;

(ii) Changes, additions and removals of branches of economic organizations making payments by foreign currency;

(iii) Changes in the foreign currency accounts: changes of permitted commercial banks or foreign banks' branches that open foreign currency accounts for the payments and receipt of foreign currency; additions of accounts specified for other foreign currencies; additions or closure of foreign currency accounts at branches making payments by foreign currency;

(b) For credit institutions acting as foreign currency payment agents: Additions or removals of branches handling payments by foreign currency;

c) For the economic organizations acting as foreign currency payment agents:

(i) Changes, additions and removals of foreign currency payment agents’ locations;

(ii) Additions or removals of branches making payments by foreign currency.

3. On January 10th and July 10th each year, credit institutions and economic organizations are responsible for making periodical reports to the State Bank's branches or State Bank (in the case of Vietnam Post Corporations) on the changes as stated in section 2 of this Article, and specific reasons of such changes (if any).

4. Documents, procedures and formalities for the approval of changes are governed by Article 11, Article 12, Article 14 and Article 15 of this Circular.

Article 6. Money transfer fees and exchange rates

1. Fees of money transfer:

a) The economic organizations directly receiving and making payments by foreign currency negotiate with foreign partners to collect fees for money transfer or apply no charges on beneficiaries;

b) For the permitted credit institutions:

(i) When the money is transferred via a credit institution permitted to engage in money transfer service contracts with foreign partners: the permitted credit institution negotiates with foreign partners to collect money transfer fees and apply no charges on beneficiaries;

(ii) When the money is transferred via a permitted credit institution irrelevant to section b (i) of this article: The permitted credit institutions are allowed to apply service charges on beneficiaries according the State Bank's regulations on the collection of service fees. Permitted credit institutions must make public announcements of service fees at the locations handling payments by foreign currency.

2. The rate for the exchange of foreign currencies to Vietnam dong: If the beneficiaries need to receive money in Vietnam dong, credit institutions or economic organizations performing foreign currency payment services are responsible for making payments in Vietnam dong at an exchange rate corresponding with the State Bank’s decisions at the time of currency conversion.

Article 7. Foreign currency accounts

1. Economic organizations directly receiving and making payments by foreign currency must open 01 (one) current account for each type of foreign currency at 01 (one) permitted commercial bank or foreign bank’s branch within the location of the economic organization's head office to make payments by foreign currency (referred to as foreign currency accounts).

2. If economic organizations directly receiving and making payments by foreign currency carry out the payments in foreign currency at its branch in a province or city where its head office is not located, the economic organization is allowed to open 01 (one) account specified for each type of currency at 01 (one) permitted commercial bank or foreign bank’s branch within the location of the economic organization's branch, which shall use such account for foreign currency payments within the said location.

3. The economic organizations directly receiving and making payments by foreign currency must register the following details of the foreign currency account with the State Bank: account number, type of foreign currency, name and address of commercial bank or foreign bank’s branch opening the account. Such details shall be provided in the Application form provided in Appendix 1 or Appendix 2 of this Circular.

4. Foreign currency accounts are used to perform the following payment and collection transactions:

a) For the economic organizations' foreign currency accounts opened within the location of their head offices:

(i) Receive foreign currency transferred from foreign nations;

(ii) Receive foreign currency from economic organizations' foreign currency accounts opened at permitted commercial banks or foreign banks' branches within the locations of such organizations' branches that return money after failing to make payments in foreign currency to beneficiaries;

(iii) Make payments in foreign currency via bank transfer or by cash to local beneficiaries;

(iv) Withdraw cash in foreign currency for credit institutions acting as foreign currency payment agents to make payments to beneficiaries;

(v) Transfer money to the economic organization’s foreign currency accounts at the locations of its branches which make payments in foreign currency;

(vi) Sell foreign currency to permitted credit institutions for the currency of Vietnam to make payments to beneficiaries;

a) For the economic organizations’ foreign currency accounts at the locations of their branches making payments in foreign currency:

(i) Receive foreign currency transferred from the economic organization’s foreign currency account opened at the location of its head office;

(ii) Make payments in foreign currency via bank transfer or by cash to local beneficiaries;

(iii) Sell foreign currency to permitted credit institutions for the currency of Vietnam to make payments to beneficiaries;

(iv) Re-transfer foreign currency to the economic organization' foreign currency account opened at permitted commercial banks or foreign banks' branches within the location of the organization’s head office upon the failure to make payments to beneficiaries.

Article 8. Foreign currency payment agents’ activities

The organizations acting as foreign currency payment agents for economic organizations or credit institutions are allowed to carry out payments in foreign currency in conformity with the following regulations:

1. Receive cash in foreign currency from permitted credit institutions and delegated economic organizations.

2. Make cash payments in foreign currency or Vietnam dong to beneficiaries at the exchange rates defined by the delegated organizations.

Article 9. Principles for the preparation and submission of the application for the approval of the provision of foreign currency receipt and payment services

1. Documents must be presented in Vietnamese. For the translated documents, the organization is allowed to either have the translator's signature notarized according to the notarization regulations in Vietnam's laws or have the documents endorsed by the organization's legal representative.

2. For the copied documents, the organization is allowed to submit the notarized copies or the copies extracted from original archives or copies endorsed by such organization on the accuracy of such copies against the original documents.  If the organization submits the documents directly at the State Bank and the State Bank's branches and such documents are not notarized, extracted from original archives or endorsed by such organization, the original dossiers must be presented for comparison. The person comparing the documents must affix his confirmation and signature onto the copies and is held liable for the accuracy of the copies against the original documents.

Chapter II

REQUIREMENTS, PROCEDURES AND FORMALITIES FOR THE APPROVAL OF THE PAYMENTS AND RECEIPT OF FOREIGN CURRENCY; AND THE APPROVAL OF CHANGES AND EXTENSIONS OF THE DIRECT PAYMENT AND RECEIPT OF FOREIGN CURRENCY

Article 10. Requirements for the approval of the direct payment and receipt of foreign currency; and the approval of extensions to the direct payment and receipt of foreign currency

1. The economic organizations directly paying and receiving foreign currency must fulfill the following requirements:

a) Be established and operated in accordance to the laws of Vietnam;

b) Have the equipment and facilities satisfying the requirements for the foreign currency receipt and payment, such as: computers, telephones, fax machines ...;

c) Engage in foreign currency receipt and payment contracts with foreign partners;

d) Have plans bearing the legal representative's signature for the execution of foreign currency receipt and payment services.

2. The requirements for the extension of economic organizations' direct payment and receipt of foreign currency to be ratified and approved:

a) The term of the document issued for the approval of the direct payment and receipt of foreign currency must remain effective in at least 30 (thirty) days from date of the submission of documents;

b) The reporting rules according to Article 22 of this Circular are not violated in at least 04 (four) quarters from the date of the issuance of the written approval of the direct payment and receipt of foreign currency or the latest written approval of extension to the date of the application for extension.

Article 11. The application for the approval of the direct payment and receipt of foreign currency; and the approval of changes and extension of the direct payment and receipt of foreign currency

1. The application for the approval of the direct payment and receipt of foreign currency shall include:

a) An application form provided in Appendix 1 or Appendix 2 of this Circular;

b) The documents as evidence for the legitimate establishment and operation of the organization: Certificate of company registration, Certificate of investment registration or equivalent documents according to the laws;

c) Copies and Vietnamese translations of the foreign currency receipt and payment contracts with foreign partners, which contain these primary details:

(i) Names, addresses, representatives and legal status of the parties;

(ii) Account number and banks opening foreign currency accounts for the economic organizations’ head offices;

(iii) Rights and duties of the contracting parties;

(iv) Principles for exchange rates in case the beneficiaries need to receive the currency of Vietnam (if arising);

(v) Commission fee;

(vi) Other agreements (on contract breach liabilities, contract duration, early termination of the contract, settlement of disputes and other agreements in conformity with the laws);

d) The plans for the implementation of foreign currency receipt and payment services shall contain the following primary details:

(i) Operating territory and human resource planned;

(ii) Content, methods and procedures for the payment and receipt of foreign currency;

(iii) Forecast of sales and incomes from the foreign currency receipt and payment activities;

d) Reports on the conditions of equipment and facilities;

e) Copies and Vietnamese translations of authorized foreign bodies’ written verifications of foreign partners' legal status.

2.  The application for the approval of changes of the direct payment and receipt of foreign currency shall include:

a) An application form provided in Appendix 5 of this Circular;

b) Copies of the written approval of the direct payment and receipt of foreign currency;

c) Required documents on changes as stated in point a, section 1, Article 5 of this Circular.

3.  The application for the approval of the extension of the direct payment and receipt of foreign currency shall include:

a) An application form provided in Appendix 5 of this Circular;

b) Copies of the written approval of the direct payment and receipt of foreign currency;

c) Copies and Vietnamese translations of the effective contracts with foreign partners for payment and receipt of foreign currency.

Article 12. Procedures and formalities for the approval of the direct payment and receipt of foreign currency; and the approval of changes and extensions of the direct payment and receipt of foreign currency

1. The economic organizations in need of directly paying and receiving foreign currency (or amending or extending the direct payment and receipt of foreign currency) submit 01 (one) set of documents by post or by hand to the State Bank's branches within the locations of the economic organizations' head offices.

2. In 30 (thirty) working days upon the receipt of sufficient valid documents, the State Bank's branches consider and issue the written approval of the direct payment and receipt of foreign currency (sample form is available in Appendix 8 of this Circular) or the written approval of the changes and extension of the direct payment and receipt of foreign currency (sample form is available in Appendix 12 of this Circular).

 In case the application is rejected, the State Bank's branches shall issue a written notice of reasons.

3. The procedures and formalities for the approval of the direct payment and receipt of foreign currency (or changes and extensions of the direct payment and receipt of foreign currency) for Vietnam Post Corporations:

a) Vietnam Post Corporations submits 01 (one) set of documents by post or by hand to the State Bank;

b) In 30 (thirty) working days upon the receipt of sufficient valid documents, the State Bank considers and issues the written approval of the direct payment and receipt of foreign currency (sample form is available in Appendix 9 of this Circular) or the written approval of the changes and extension of the direct payment and receipt of foreign currency (sample form is available in Appendix 13 of this Circular). In case the application is rejected, the State Bank shall issue a written notice of reasons.

4. The effective term of the written approval of the direct payment and receipt of foreign currency and the written approval of changes and extensions of such

a) The effective term of the written approval of the direct payment and receipt of foreign currency and the written approval of extension of the direct payment and receipt of foreign currency depends on the effective term of the Contract with the foreign partner or the Contract on the longest term among the Contracts for direct payment and receipt of foreign currency, and for a maximum duration of 5 (five) years from the date of signing;

b) For the extension of the direct payment and receipt of foreign currency, the economic organization must submit the application for the approval of the extension according to section 3, Article 11 of this Circular in at least 30 (thirty) days prior to the expiry date of the written approval of the direct payment and receipt of foreign currency.

Chapter III

REQUIREMENTS, PROCEDURES AND FORMALITIES FOR THE APPROVAL OF THE REGISTRATION OF FOREIGN CURRENCY PAYMENT AGENTS; AND THE APPROVAL OF CHANGES AND RENEWALS OF THE REGISTRATION OF FOREIGN CURRENCY PAYMENT AGENTS

Article 13. Requirements for the approval of the registration of foreign currency payment agents; and the approval of renewals of the registration of foreign currency payment agents

1. Credit institutions and economic organizations acting as foreign currency payment agents must fulfill the following requirements:

a) Be established and operated in accordance to the laws of Vietnam;

b) Have the equipment and facilities satisfying the requirements for foreign currency payment agents’ activities, such as: computers, telephones, fax machines ...;

c) Be delegated as a foreign currency payment agent by permitted credit institutions or economic organizations.

2. The requirements for the consideration and approval of credit institutions’ and economic organizations’ renewals of registrations of foreign currency payment agents shall include:

a) The term of the written approval of the registration of the foreign currency payment agent must remain effective in at least 30 (thirty) days from the date of the submission of documents;

b) The reporting rules according to Article 22 of this Circular are not violated in at least 04 (four) quarters from the date of the issuance of the written approval of the registration of the foreign currency payment agent or the latest written approval of renewal to the date of the application for renewal.

Article 14. The application for the approval of the registration of foreign currency payment agents; and the approval of changes and renewals of registrations of foreign currency payment agents

1.  The application for the approval of the registration of foreign currency payment agents shall include:

a) An application form provide in Appendix 3 or Appendix 4 of this Circular;

b) Copies of written evidences of the legitimate establishment and operation of the organization: Certificate of company registration, Certificate of incorporation and operation, Certificate of investment registration or other equivalent documents according to the laws;

c) Copies of agent contracts with delegating organizations, including the following primary details: Payment methods; payment network; commission fee ratio; rights and duties and the Contracting parties;

d) Reports on the conditions of equipment and facilities;

2.  The application for the approval of changes of the registration of foreign currency payment agents shall include:

a) An application form provided in Appendix 5 of this Circular;

b) Copies of the written approval of the registration of foreign currency payment agents;

c) Required documents on changes as stated in point b and point c, section 1, Article 5 of this Circular.

3.  The application for the approval of renewals of the registration of foreign currency payment agents shall include:

a) An application form provided in Appendix 5 of this Circular;

b) Copies of the written approval of the registration of foreign currency payment agents;

c) Copies of agent contracts in effect made with delegating organizations.

Article 15. Procedures and formalities for the approval of the registration of foreign currency payment agents; and the approval of changes and renewals of registrations of foreign currency payment agents

1. Credit institutions and economic organizations in need of acting as foreign currency payment agents (or amending or renewing the agent registration) submit 01 (one) set of documents by post or by hand to the State Bank's branches within the locations of credit institutions’ or economic organizations' head offices.

2. In 30 (thirty) working days upon the receipt of sufficient valid documents, the State Bank's branches consider and issue the written approval of the registration of the foreign currency payment agent (sample form is available in Appendix 10 of this Circular) or the written approval of the changes and renewal of the registration of the foreign currency payment agent (sample form is available in Appendix 12 of this Circular).

In case the application is rejected, the State Bank's branches issue a written notice of reasons.

3. Procedures and formalities for the approval of the registration of foreign currency payment agents (or changes and renewals of agent registrations) for Vietnam Post Corporations:

a) Vietnam Post Corporations submits 01 (one) set of documents by post or by hand to the State Bank;

In 30 (thirty) working days upon the receipt of sufficient valid documents, the State Bank's branches consider and issue the written approval of the registration of foreign currency payment agents (sample form is available in Appendix 11 of this Circular) or the written approval of the changes and renewal of the registration of foreign currency payment agents (sample form is available in Appendix 13 of this Circular).

In case the application is rejected, the State Bank shall issue a written notice of reasons.

4. The effective term of the written approval of the registration of foreign currency payment agents and the written approval of changes and renewals:

a) The effective term of the written approval of the registration of foreign currency payment agents and the written approval of renewal of the registration of foreign currency payment agents depends on the effective term of the agent Contract  with delegating organizations or the agent Contract on the longest term among the foreign currency payment Contracts, and for a maximum duration of 5 (five) years from the date of signing;

b) For the renewal of the registration of foreign currency payment agents, credit institutions and economic organizations must submit the application for the approval of renewal according to section 3, Article 14 of this Circular in at least 30 (thirty) days prior to the expiry date of the written approval of the registration of foreign currency payment agents.

Chapter IV

CIRCUMSTANCES RESULTING IN THE AUTOMATIC EXPIRATION OR REVOCATION OF WRITTEN APPROVALS

Article 16. Circumstances resulting in automatic expiration

Written approvals of direct payment and receipt of foreign currency, written approvals of changes and extensions of direct payment and receipt of foreign currency, written approvals of foreign currency payment agent registrations, and written approvals of changes and renewals of foreign currency payment agent registrations lose their effect automatically in the following circumstances:

1. Credit institutions or economic organizations are divided, merged, consolidated, dissolved, or bankrupt according to the laws.

2. Credit institutions' or economic organizations' licenses for establishment and operation, certificates of company registration, certificates of investment registration or equally valid documents are revoked by authorized governmental bodies.

Article 17. Revocation of written approvals

1. State Bank revokes written approvals of direct payment and receipt of foreign currency, written approvals of changes and extensions of direct payment and receipt of foreign currency, written approvals of foreign currency payment agent registrations, and written approvals of changes and renewals of foreign currency payment agent registrations in the following circumstances:

a) Credit institutions or economic organizations remain inactive in 12 months upon the issuance of written approvals;

b) Credit institutions or economic organizations cease operation or produce no sales in payments in 12 consecutive months;

c) Credit institutions or economic organizations submit the application to the State Bank for the termination of the direct payment and receipt of foreign currency or the foreign currency payment agents;

d) Revocation cases according to the laws on administrative penalties in the sector of currency and banking.

2. Procedures and formalities for revocation:

State Bank issues the document revoking written approvals of direct payment and receipt of foreign currency, written approvals of changes and extensions of direct payment and receipt of foreign currency, written approvals of foreign currency payment agent registrations, and written approvals of changes and renewals of foreign currency payment agent registrations (sample forms are available in Appendix 14 or Appendix 15 of this Circular).

Chapter V

RESPONSIBILITIES OF CONCERNED PARTIES

Article 18. Responsibilities of the organizations delegating agents

1. Provide guidance to foreign currency payment agents on conducting payments in foreign currency. Conform to and guide foreign currency payment agents to strictly abide by the regulations of this Circular and other relevant laws.

2. Inspect, control and assume liabilities for the foreign currency payment activities of the delegated agents. In case the agents’ breach of the agent contracts and this Circular is detected, the organizations delegating other organizations as agents execute suitable actions subject to the nature and level of the violations.

3. In 15 (fifteen) working days upon the early termination of the agent contracts, the delegating organizations must deliver written announcements to the State Bank's branches within the locations of the organizations' head offices.

Article 19. Responsibilities of credit institutions and economic organizations acting as foreign currency payment agents

1. Abide by the contents of the agent Contracts.

2. Make updates to accounting documents, archive papers according to the current regulations and must present sufficient documents on foreign currency payment activities at the requests of authorized bodies.

3. In 15 (fifteen) working days upon the expiration or early termination of the agent contracts, credit institutions and economic organizations acting as foreign currency payment agents must deliver written announcements to the State Bank's branches that issue written approvals of foreign currency payment agents registrations.

4. Strictly abide by the regulations of this Circular and other relevant laws.

5. Implement the reporting rules as defined in this Circular.

Article 20. Responsibilities of economic organizations directly paying and receiving foreign currency

1. Economic organizations directly paying and receiving foreign currency must present the following documents to the permitted commercial bank or foreign bank's branch opening the accounts upon the organizations' transfer or withdrawal of cash in foreign currency from foreign currency accounts to make payments to local beneficiaries:

a) The written approval of direct payment and receipt of foreign currency; and the written approvals of changes and extensions of direct payment and receipt of foreign currency (only presented at the first time);

b) The list of beneficiaries specifying names and Identification numbers (or equivalent papers according to the laws), and each beneficiary’s receivables in each type of foreign currency.

2. Make updates to accounting documents, archive papers according to the current regulations and must present sufficient documents on foreign currency receipt and payment activities at the requests of authorized bodies.

3. In 15 (fifteen) working days upon the expiration or early termination of the foreign currency receipt and payment contracts, economic organizations must deliver written announcements to the State Bank's branches that issue written approvals of direct payment and receipt of foreign currency.

4. Strictly abide by the regulations of this Circular and other relevant laws.

5. Implement the reporting rules as defined in this Circular.

Article 21. Responsibilities of State Bank’s units

1. Responsibilities of Foreign Currency Management Bureau:

a) Implement and provide guidelines to credit institutions and economic organizations to strictly conform to the regulations of this Circular;

b) Receive, consider and present documents to the Governor of State Bank for written approvals of direct payment and receipt of foreign currency, written approvals of changes and extensions of direct payment and receipt of foreign currency, written approvals of foreign currency payment agents, and written approvals of changes and renewals of foreign currency payment agents for Vietnam Post Corporations according to this Circular;

c) Act as the junction for the settlement of issues related to credit institutions' and economic organizations' provision of foreign currency receipt and payment services in the process of enforcing this Circular.

2. Responsibilities of State Bank's branches:

a) Implement and provide guidelines to credit institutions and economic organizations to strictly conform to the regulations of this Circular;

b) Issue written approvals of direct payment and receipt of foreign currency, written approvals of changes and extensions of direct payment and receipt of foreign currency, written approvals of foreign currency payment agent registrations, and written approvals of changes and renewals of foreign currency payment agent registrations for credit institutions and economic organizations according to this Circular;

c) Execute changes to issue written approvals of direct payment and receipt of foreign currency and written approvals of foreign currency payment agent registrations for credit institutions and economic organizations fulfilling requirements as defined in Article 23 of this Circular;

d) Upon the issuance of written approvals of direct payment and receipt of foreign currency, written approvals of changes and extensions of direct payment and receipt of foreign currency, written approvals of foreign currency payment agent registrations, or written approvals of changes and renewals of foreign currency payment agent registrations for credit institutions and economic organizations in need of foreign currency payment in provinces and cities where their head offices are not located, State Bank's branches issuing said documents shall deliver 01 (one) copy of such to the State Bank’s branches at the locations of the organizations’ payment units for coordination and monitoring;

d) Inspect, audit, and supervise the local organizations’ payment and receipt of foreign currency (in the absence of a Bureau of bank inspection and supervision) or coordinate with a Bureau of bank inspection and supervision to carry out the inspections, audits and supervisions of the local organizations’ payment and receipt of foreign currency (in the presence of a Bureau of bank inspection and supervision);

e) Implement the reporting rules as defined in this Circular.

Chapter VI

ENFORCING ORGANIZATIONS

Article 22. Reporting rules

1. For credit institutions and economic organizations acting as foreign currency payment agents: On quarterly basis, reports on a quarter's foreign currency payment figures must be sent to State Bank’s local branches, no later than the 10th of the first month of the following quarter (sample form is available in Appendix 16 of this Circular).

2. For economic organizations directly paying and receiving foreign currency: On quarterly basis, reports on a quarter's foreign currency receipt and payment figures must sent to State Bank's local branches, no later than the 10th of the first month of the following quarter (sample form is available in Appendix 17 of this Circular). In case economic organizations directly paying and receiving foreign currency in various provinces and cities, the reporting rules are as follows:

a) Economic organizations’ head offices make and send reports on their entire systems’ foreign currency receipt and payment figures to the State Bank’s branches within the locations of the organizations’ head offices;

b) Economic organizations’ branches make and send reports on foreign currency payment figures to State Bank’s branches within the locations of the organizations’ branches.

3. For Vietnam Post Corporations: On quarterly basis, reports on a quarter’s foreign currency receipt and payment figures must be sent to the State Bank (Bureau of Foreign currency management), no later than the 10th of the first month of the following quarter (sample forms are available in Appendix 16 or Appendix 17 of this Circular).

4. For permitted credit institutions: Reports on foreign currency receipt and payment figures are governed by the State Bank’s reporting and statistics regulations.

5. For the branches of the State Bank:

a) Make reports on receipt and payment figures of local economic organizations directly paying and receiving foreign currency, and economic organizations acting as foreign currency payment agents according to the State Bank's reporting and statistics regulations;

b) Make reports listing the local organizations providing foreign currency receipt and payment services:

(i) In 30 (thirty) days from the deadline of conversion as stated in Article 23 of this Circular, the State Bank's branches report in writing to the State Bank (Bureau of Foreign currency management) on the list of economic organizations directly paying and receiving foreign currency and the list of credit institutions and economic organizations acting as local foreign currency payment agents (sample form is available in Appendix 18 of this Circular);

(ii) On quarterly basis, the State Bank’s branches report the updates on the list of economic organizations directly paying and receiving foreign currency and the list of credit institutions and economic organizations acting as local foreign currency payment agents (if any), by the 10th of the first month of the following quarter (sample form is available in Appendix 18 of this Circular).

Article 23. Regulations on conversion

1. Principles of conversion:

a) In 12 (twelve) months upon the effect of this Circular, economic organizations and credit institutions given Certificates of foreign currency payment agent registrations or License of foreign currency receipt and payment services must convert such documents to written approvals of foreign currency payment agent registrations or written approvals of direct payment and receipt of foreign currency according to this Circular. If economic organizations and credit institutions do not execute conversions or are not eligible for conversions due to their failure to meet the requirements as defined in section 2 of this Article by the said deadline, their activities as foreign currency payment agents or their direct payment and receipt of foreign currency must be terminated;

b) In the process of conversion, economic organizations and credit institutions can continue foreign currency payment agents' activities or direct payment and receipt of foreign currency according to their given Certificates of foreign currency payment agent registrations or Licenses of foreign currency receipt and payment services.

2. Requirements for conversion:

a) Economic organizations given Licenses of foreign currency receipt and payment are allowed to convert such documents to written approvals of direct payment and receipt of foreign currency upon their fulfillment of requirements as defined in Article 10 of this Circular;

b) Economic organizations and credit institutions given Certificates of foreign currency payment agent registrations are allowed to convert such documents to written approvals of foreign currency payment agent registrations upon fulfilling the requirements as stated in Article 13 of this Circular.

3. Documents for conversion:

a) The documents for conversion to written approval of direct payment and receipt of foreign currency shall include:

(i) The application form provided in Appendix 6 of this Circular;

(ii) The original License of foreign currency receipt and payment services issued;

(iii) Other documents as defined in point c, section 1, Article 11 of this Circular;

b) The documents for conversion to written approval of foreign currency payment agent registration shall include:

(i) The application form provided in Appendix 7 of this Circular;

(ii) The original Certificate of foreign currency payment agent registration issued;

(iii) Other documents as defined in point c, section 1, Article 14 of this Circular;

4. Procedures and formalities for conversion:

a) Economic organizations and credit institutions make and deliver 01 (one) set of documents as stated in section 3 of this Article to the State Bank's local branches by hand or by post;

b) In 30 (thirty) working days upon the receipt of sufficient valid documents, the State Bank's branches consider and execute conversion to written approvals of direct payment and receipt of foreign currency or written approvals of foreign currency payment agent registration. In case the application is rejected, the State Bank's branches must issue a written notice of reasons.

5. For Vietnam Post Corporations:

a) In 12 (twelve) months upon the effect of this Circular, Vietnam Post Corporations must implement the formalities to request the approval of direct payment and receipt of foreign currency according to Article 10, Article 11 and Article 12 of this Circular;

b) Vietnam Post Corporations, while carrying out the formalities to request the approval as defined in point a of this section, can continue its payment and receipt of foreign currency. If Vietnam Post Corporations does not execute the formalities for the approval or fails to obtain the approval of its direct payment and receipt of foreign currency by the deadline as stated in point a of this section, its direct payment and receipt of foreign currency must be terminated.

Article 24. Settlement of violations

Organizations and individuals violating the regulations of this Circular shall be treated subject to the nature and level of their violations according to the laws.

Article 25. Implementation

1. This circular takes effect as of March 01st 2016.

2. Upon the effect of this Circular, the following regulations lose effect:

a) State Bank’s Circular No. 02/2000/TT-NHNN7 dated February 24th 2000 on the guidelines for the enforcement of the Prime Minister’s Decision 170/1999/QD-TTg  dated August 19th 1999 on encouraging Vietnamese expatriates’ inbound remittance;

b) Decision No. 472/2000/QD-NHNN7 dated November 13th 2000 by the Governor of Vietnam State Bank on the amendments to the State Bank's Circular No. 02/2000/TT-NHNN7 dated February 24th 2000 on the guidelines for the enforcement of the Prime Minister's Decision No. 170/1999/QD-TTg  dated August 19th 1999 on encouraging Vietnamese expatriates' inbound remittance;

c) Decision No. 878/2002/QD-NHNN dated August 19th 2002 by the Governor of the State Bank on the amendments to the State Bank's Circular No. 02/2000/TT-NHNN7 dated February 24th 2000;

d) Article 4 and Article 12 of the State Bank’s Circular No. 25/2011/TT-NHNN dated August 31st 2011 on the enforcement of solutions to simplify the administrative formalities of the foreign exchange sector according to the Government’s Resolutions on the simplification of administrative formalities in the scope of Vietnam State Bank’s managerial functions.

3. Office Managers and Heads of relevant units of Vietnam State Bank, Directors of State Bank’s branches in municipalities, Chairs of Boards of Directors, Chairs of Member Councils, General Directors (Directors) of credit institutions, foreign banks’ branches are responsible for executing this Circular./.

 

 

FOR THE GOVERNOR VICE GOVERNOR




Nguyen Thi Hong

 

Appendix 1

NAME OF ECONOMIC ORGANIZATION

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

 

... ... ..., ... ... ,date ... ... ...

 

APPLICATION FOR THE APPROVAL OF DIRECT PAYMENT AND RECEIPT OF FOREIGN CURRENCY

To: Branch of State Bank in ...

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

(Name of economic organization) petitions the State Bank’s branch of …...… for the issuance of the written approval of direct payment and receipt of foreign currency according to the following information:

Name of economic organization:

Address:

Telephone:                                                                   Fax:

Certificate of company registration/Certificate of investment registration No. …. dated …./…./….

Issuer:

Based on the Contract No. .......... dated ....... by (name of economic organization) ........ and (name of foreign partner) .....… for the receipt of foreign currency from foreign nations to make payments to local beneficiaries;

State Bank’s branch of …. is requested to consider and ratify the direct payment and receipt of foreign currency at the following locations:

No.

Name of organization directly paying and receiving foreign currency

 

Location of payment

Address

Phone, Fax

1

Head office

 

 

2

Payment Location No. 1

 

 

3

Payment Location No. 2

 

 

n

Payment Location No. n (the province or city where payment locations are located may differ from that of the head office)

 

 

Foreign currency account for direct payment and receipt of foreign currency:

1. Head office:

Name of the bank opening the account:

No.

Account type

Account number

1

USD

 

2

EUR

 

3

GBP

 

 

2. Payment Location No. …:

Name of the bank opening the account:

No.

Account type

Account number

1

USD

 

2

EUR

 

3

GBP

 

 

(Name of organization) undertakes to be held liable for the integrity and accuracy of the contents of this application and documents enclosed.

As performing the activities of direct payment and receipt of foreign currency, (name of organization) undertakes to strictly abide by the regulations of the Circular No. ... and other relevant laws.

 

 

LEGAL REPRESENTATIVE

 

Appendix 2

NAME OF COMPANY VIETNAM POST

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

 

... ... ..., date ... ... ... ...

 

APPLICATION FOR THE APPROVAL OF DIRECT PAYMENT AND RECEIPT OF FOREIGN CURRENCY

To: State Bank of Vietnam (Bureau of Foreign exchange management)

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

Vietnam Post Corporations petitions Vietnam State Bank for the issuance of the written approval of direct payment and receipt of foreign currency according to the following information:

Name of economic organization: Vietnam Post Corporations:

Address:

Telephone:                                                                   Fax:

Certificate of company registration No. …. dated …./…./….

Issuer:

Based on the Contract No. .......... dated ....... by Vietnam Post Corporations and (name of foreign partner) .....… for the receipt of foreign currency from foreign nations to make payments to local beneficiaries;

Vietnam State Bank is requested to consider and ratify the direct payment and receipt of foreign currency according to the following information:

- Foreign currency payment locations of Vietnam Post Corporations’ postal network are stated in the list of locations attached to this Application.

- Foreign currency accounts for direct payment and receipt of foreign currency are defined in the list of foreign currency accounts attached to this Application.

Vietnam Post Corporations undertakes to be held liable for the integrity and accuracy of the contents of this application and documents enclosed.

As performing the activities of direct payment and receipt of foreign currency, Vietnam Post Corporations undertakes to strictly abide by the regulations of the Circular No. ... and other relevant laws.

 

 

LEGAL REPRESENTATIVE

 

Appendix 3

ECONOMIC ORGANIZATION/CREDIT INSTITUTION/FOREIGN BANK’S BRANCH

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

 

... ... ..., date ... ... ... ...

 

APPLICATION FOR THE APPROVAL OF THE REGISTRATION OF FOREIGN CURRENCY PAYMENT AGENT

To: Branch of State Bank in ...

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

(Name of organization) petitions the State Bank’s branch of …...… for the issuance of the written approval of the registration of foreign currency payment agent according to the following information:

Name of organization:

Head office's address:

Telephone:                                                                   Fax:

Certificate of company registration/License for establishment and operation/Certificate of investment registration No. …. dated …./…./….

Issuer:

Based on the Contract for delegation of foreign currency payment agent No. ……. dated …… by (name of agent) … and (name of delegating organization) ……

Vietnam State Bank’s branch of … is requested to consider and ratify the registration of foreign currency payment agent according to the following information:

No.

Name of foreign currency payment agent

 

Location of payment

Address

Phone, Fax

1

Head office

 

 

2

Payment Location No. 1

 

 

3

Payment Location No. 2

 

 

n

Payment Location No. n (the province or city where payment locations are located may differ from that of the head office)

 

 

(Name of organization) undertakes to be held liable for the integrity and accuracy of the contents of this application and documents enclosed.

As performing the activities of direct payment and receipt of foreign currency, (name of organization) undertakes to strictly abide by the regulations of the Circular No. ... and other relevant laws.

 

 

LEGAL REPRESENTATIVE

 

Appendix 4

NAME OF COMPANY VIETNAM POST

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

 

... ... ..., date ... ... ... ...

 

APPLICATION FOR THE APPROVAL OF THE REGISTRATION OF FOREIGN CURRENCY PAYMENT AGENT

To: State Bank of Vietnam (Bureau of Foreign exchange management)

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

Vietnam Post Corporations petitions Vietnam State Bank for the issuance of the written approval of the registration of foreign currency payment agent according to the following information:

Name of organization: Vietnam Post Corporations

Head office's address:

Telephone:                                                                   Fax:

Certificate of company registration/License for establishment and operation/Certificate of investment registration No. …. dated …./…./….

Issuer:

Based on the Contract for delegation of foreign currency payment agent No. ……. dated …… by Vietnam Post Corporations and (name of delegating organization) ……

Vietnam State Bank is requested to consider and ratify the registration of foreign currency payment agent at the foreign currency payment locations in Vietnam Post Corporations' postal network (the list of locations is enclosed to this Application).

Vietnam Post Corporations undertakes to be held liable for the integrity and accuracy of the contents of this application and documents enclosed.

As performing the activities of foreign currency payment agent, Vietnam Post Corporations undertakes to strictly abide by the regulations of the Circular No. ... and other relevant laws.

 

 

LEGAL REPRESENTATIVE

 

Appendix 5

ECONOMIC ORGANIZATION/CREDIT INSTITUTION/FOREIGN BANK’S BRANCH

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

 

... ... ..., date ... ... ... ...

 

APPLICATION FOR THE APPROVAL OF CHANGES AND EXTENSION OF DIRECT PAYMENT AND RECEIPT OF FOREIGN CURRENCY/REGISTRATION OF FOREIGN CURRENCY PAYMENT AGENT

To:

- State Bank (Bureau of Foreign exchange management) (from Vietnam Post Corporations) - State Bank's branch of ...

Name of organization:

Address:

Telephone:                                                                   Fax:

Certificate of company registration/License for establishment and operation/Certificate of investment registration No. …. dated …./…./….

Issuer:

The written approval of the registration of foreign currency payment agent (or the written approval of direct payment and receipt of foreign currency) No. …. dated …/…

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

We petition for changes and extension of the written approval of direct payment and receipt of foreign currency (or the written approval of foreign currency payment registration) according to the following information:

1.......................................................................................................................................

2.......................................................................................................................................

3.......................................................................................................................................

(Name of organization) undertakes to be held liable for the integrity and accuracy of the contents of this application and documents enclosed.

As performing the activities of direct payment and receipt of foreign currency/foreign currency payment agent, (name of organization) undertakes to strictly abide by the regulations of the Circular No. ... and other relevant laws.

 

 

LEGAL REPRESENTATIVE

 

Appendix 6

NAME OF ECONOMIC ORGANIZATION

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

 

... ... ..., date ... ... ... ...

 

APPLICATION FOR CONVERSION TO THE WRITTEN APPROVAL OF DIRECT PAYMENT AND RECEIPT OF FOREIGN CURRENCY

To: Branch of State Bank in ...

Name of organization:

Address:

Telephone:                                                                   Fax:

Certificate of company registration/Certificate of investment registration No. …. dated …./…./….

Issuer:

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

State Bank’s branch of ….. is requested to consider and convert the License of foreign currency receipt and payment services No. ... dated ... to the written approval of direct payment and receipt of foreign currency according to the following information:

1. Name of organization:

2. Address:

3. Telephone:                                                                   Fax:

4. Details of foreign currency payment locations:

No.

Name of organization directly paying and receiving foreign currency

 

Location of payment

Address

Phone, Fax

1

Head office

 

 

2

Payment Location No. 1

 

 

3

Payment Location No. 2

 

 

n

Payment Location No. n (the province or city where payment locations are located may differ from that of the head office)

 

 

5. Foreign partner: (specify each partner; contract number and contract date)

6. Foreign currency account for direct payment and receipt of foreign currency:

a) Head office:

Name of the bank opening the account:

No.

Account type

Account number

1

USD

 

2

EUR

 

3

GBP

 

...

....

 

b) Payment Location No. …:

Name of the bank opening the account:

 

No.

Account type

Account number

1

USD

 

2

EUR

 

3

GBP

 

...

....

 

(Name of organization) undertakes to be held liable for the integrity and accuracy of the contents of this application and documents enclosed.

As performing the activities of direct payment and receipt of foreign currency, (name of organization) undertakes to strictly abide by the regulations of the Circular No. ... and other relevant laws.

 

 

LEGAL REPRESENTATIVE

 

Appendix 7

ECONOMIC ORGANIZATION/CREDIT INSTITUTION/FOREIGN BANK’S BRANCH

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

 

... ... ..., date ... ... ... ...

 

APPLICATION FOR CONVERSION TO THE WRITTEN APPROVAL OF THE REGISTRATION OF FOREIGN CURRENCY PAYMENT AGENT

To: Branch of State Bank in ...

Name of organization:

Address:

Telephone:                                                                   Fax:

Certificate of company registration/License for establishment and operation/Certificate of investment registration No. …. dated …./…./….

Issuer:

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

State Bank’s branch of ….. is requested to consider and convert the Certificate of foreign currency payment agent No. ... dated ... to the written approval of the registration of foreign currency payment agent according to the following information:

1. Name of organization:

2. Address:

3. Telephone:                                                                   Fax:

4. Details of foreign currency payment locations:

No.

Name of foreign currency payment agent

 

Location of payment

Address

Phone, Fax

1

Head office

 

 

2

Payment Location No. 1

 

 

3

Payment Location No. 2

 

 

n

Payment Location No. n (the province or city where payment locations are located may differ from that of the head office)

 

 

(Name of organization) undertakes to be held liable for the integrity and accuracy of the contents of this application and documents enclosed.

As performing the activities of foreign currency payment agent, (name of organization) undertakes to strictly abide by the regulations of the Circular No. ... and other relevant laws.

 

 

LEGAL REPRESENTATIVE

 

Appendix 8

STATE BANK Branch of …

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

No.   /QD-…

... ... ..., date ... ... ... ...

 

DECISION

On the approval of the direct payment and receipt of foreign currency

DIRECTOR OF STATE BANK’S BRANCH OF …

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

Pursuant to the Decision No. 2989/QD-NHNN dated December 14th 2009 by the Governor of the State Bank on regulating the functions, missions, authority and organizational structure of the State Bank's branches in municipalities/ Decision No. 2686/QD-NHNN dated December 19th 2014 by the Governor of Vietnam State Bank on regulating the functions, missions, authority and organizational structure of the State Bank's branch of Hanoi City/ Decision No. 2687/QD-NHNN dated December 19th 2014 by the Governor of Vietnam State Bank on regulating the functions, missions, authority and organizational structure of the State Bank’s branch of Ho Chi Minh City;

In consideration of the request of (economic organization) via the Application for the approval of direct payment and receipt of foreign currency No. … dated ….

DECISION:

1. Article 1

Permitting …. (name of economic organization)

Certificate of company registration/Certificate of investment registration No. …. dated …./…./….

Issuer:

Address:

Telephone:                                                                   Fax:

to directly perform the service of receiving foreign currency transferred by Vietnamese expatriates and foreigners from foreign nations to make payments to local beneficiaries according to the following information:

a) Location for payment and receipt of foreign currency:

 

Location of payment

Address

Phone, Fax

1

Head office

 

 

2

Payment Location No. 1

 

 

3

Payment Location No. 2

 

 

n

Payment Location No. n (the province or city where payment locations are located may differ from that of the head office)

 

 

b) Foreign partner: (specify each partner; contract number and contract date)

c) Foreign currency account for direct payment and receipt of foreign currency:

c.1. Head office:

Name of the bank opening the account:

No.

Account type

Account number

1

USD

 

2

EUR

 

3

GBP

 

...

....

 

c.2. Payment Location No. …:

Name of the bank opening the account:

No.

Account type

Account number

1

USD

 

2

EUR

 

3

GBP

 

...

....

 

Article 2. (Economic organization) … must comply with the effective regulations on foreign currency receipt and payment services, relevant laws and must enforce the reporting regulations.

Article 3. This decision takes effect from the date of signing. The effective term of this Decision is … year(s) from the date of signing.

 

 

DIRECTOR

 

Appendix 9

VIETNAM STATE BANK

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

No.   /QD-NHNN

... ... ..., date ... ... ... ...

 

DECISION

On the approval of the direct payment and receipt of foreign currency

GOVERNOR OF VIETNAM STATE BANK

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. …/2015/TT-NHNN … dated … 2015 on the guidelines for the provision of foreign currency receipt and payment services;

In consideration of the request of (economic organization) via the Application for the approval of direct payment and receipt of foreign currency No. … dated ….

DECISION:

1. Article 1

Permitting Vietnam Post Corporations

Certificate of company registration No. …. dated …./…./….

Issuer:

Address:

Telephone:                                                                   Fax:

to directly perform the service of receiving foreign currency transferred by Vietnamese expatriates and foreigners from foreign nations to make payments to local beneficiaries according to the following information:

-  Foreign currency payment locations of Vietnam Post Corporations’ postal network are stated in the list of locations attached to this Application.

- Foreign currency accounts for direct payment and receipt of foreign currency are defined in the list of foreign currency accounts attached to this Application.

- Foreign partner: (specify each partner; contract number and contract date)

Article 2. Vietnam Post Corporations must comply with the effective regulations on foreign currency receipt and payment services, relevant laws and must enforce the reporting regulations.

Article 3. This decision takes effect from the date of signing. The effective term of this Decision is … year(s) from the date of signing.

 

 

GOVERNOR

 

Appendix 10

STATE BANK Branch of …

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

No.   /QD-…

... ... ..., date ... ... ... ...

 

DECISION

Application for the approval of the registration of foreign currency payment agent

DIRECTOR OF STATE BANK’S BRANCH OF …

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

Pursuant to the Decision No. 2989/QD-NHNN dated December 14th 2009 by the Governor of the State Bank on regulating the functions, missions, authority and organizational structure of the State Bank's branches in municipalities/ Decision No. 2686/QD-NHNN dated December 19th 2014 by the Governor of Vietnam State Bank on regulating the functions, missions, authority and organizational structure of the State Bank's branch of Hanoi City/ Decision No. 2687/QD-NHNN dated December 19th 2014 by the Governor of Vietnam State Bank on regulating the functions, missions, authority and organizational structure of the State Bank’s branch of Ho Chi Minh City.

In consideration of (name of organization) via the Application for the approval of the registration of foreign currency payment agent No. …. dated ….

DECISION

Article 1.

Name of organization:

Address:

Certificate of company registration/License for establishment and operation/Certificate of investment registration No. …. dated …./…./…. issued by (name of issuer)

Telephone:                                                                   Fax:

Is permitted to be the foreign currency payment agent of … (name of delegating organization) according to the Agent Contract No. .... at the following locations:

No.

Name of foreign currency payment agent

 

Location of payment

Address

Phone, Fax

1

Head office

 

 

2

Payment Location No. 1

 

 

3

Payment Location No. 2

 

 

n

Payment Location No. n (the province or city where payment locations are located may differ from that of the head office)

 

 

Article 2. As performing the activities of foreign currency payment agent, … (organization) must comply with the effective regulations on foreign currency receipt and payment services and other relevant laws.

Article 3. This decision takes effect from the date of signing. The effective term of this Decision is … year(s) from the date of signing.

 

 

DIRECTOR

 

Appendix 11

VIETNAM STATE BANK

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

No.   /QD-NHNN

... ... ..., date ... ... ... ...

 

DECISION

On the approval of the registration of foreign currency payment agent

GOVERNOR OF VIETNAM STATE BANK

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

In consideration of the request of Vietnam Post Corporations via the Application for the approval of the registration of foreign currency payment agent No. … dated ….

DECISION

1. Article 1

Permitting Vietnam Post Corporations

Certificate of company registration No. …. dated …./…./….

Issuer:

Address:

Telephone:                                                                   Fax:

Is permitted to be the foreign currency payment agent of … (name of delegating organization) according to the Agent Contract No. …… at the foreign currency payment locations of Vietnam Post Corporations’ postal network as stated in the list enclosed to the Application ……..

Article 2. As performing the activities of foreign currency payment agent, Vietnam Post Corporations must comply with the effective regulations on foreign currency receipt and payment services, relevant laws and must enforce the reporting regulations.

Article 3. This decision takes effect from the date of signing. The effective term of this Decision is … year(s) from the date of signing.

 

 

GOVERNOR

 

Appendix 12

STATE BANK Branch of …

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

No.   /QD-…

... ... ..., date ... ... ... ...

 

DECISION

On the approval of changes and extension of direct payment and receipt of foreign currency/registration of foreign currency payment agent

(First decision on approval No. .... dated ...., ...th decision on approval of changes and extension No. ... dated ...)

DIRECTOR OF STATE BANK’S BRANCH OF …

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

Pursuant to the Decision No. 2989/QD-NHNN dated December 14th 2009 by the Governor of the State Bank on regulating the functions, missions, authority and organizational structure of the State Bank's branches in municipalities/ Decision No. 2686/QD-NHNN dated December 19th 2014 by the Governor of Vietnam State Bank on regulating the functions, missions, authority and organizational structure of the State Bank's branch of Hanoi City/ Decision No. 2687/QD-NHNN dated December 19th 2014 by the Governor of Vietnam State Bank on regulating the functions, missions, authority and organizational structure of the State Bank’s branch of Ho Chi Minh City.

In consideration of the request of (name of organization) via the Application for changes and extension of direct payment and receipt of foreign currency/registration of foreign currency payment agent No. … dated ….

DECISION

Article 1.

Name of organization:

Address:

Telephone:                                                                   Fax:

Certificate of company registration/License for establishment and operation/Certificate of investment registration No. …. dated …./…./….

Issuer:

Decision on approval of foreign currency payment agent registration/direct payment and receipt of foreign currency No. …. dated …./….

Has registered changes and extension of direct payment and receipt of foreign currency/foreign currency payment agent according to the following information:

1.......................................................................................................................................

2.......................................................................................................................................

3.......................................................................................................................................

Other parts of the Decision on the approval of direct payment and receipt of foreign currency/registration of foreign currency payment agent No. … dated …. sustain their effect.

Article 2. This decision is an indispensable part of the Decision on the approval of direct payment and receipt of foreign currency/registration of foreign currency payment agent No. … dated … by the State Bank’s branch of … (province/city).

 

 

DIRECTOR

 

Appendix 13

VIETNAM STATE BANK

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

No.   /QD-NHNN

Hanoi, date ... ... ... ...

 

DECISION

On the approval of changes and extension of direct payment and receipt of foreign currency/registration of foreign currency payment agent

(First decision on approval No. .... dated ...., ...th decision on approval of changes and extension No. ... dated ...)

GOVERNOR OF VIETNAM STATE BANK

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

In consideration of the request of Vietnam Post Corporations via the Application for changes and extension of direct payment and receipt of foreign currency/registration of foreign currency payment agent No. … dated ….

DECISION

Article 1.

Permitting Vietnam Post Corporations

Certificate of company registration No. …. dated …./…./….

Issuer:

Address:

Telephone:                                                                   Fax:

Having registered changes and extension of direct payment and receipt of foreign currency/foreign currency payment agent according to the following information:

1.......................................................................................................................................

2.......................................................................................................................................

3.......................................................................................................................................

Other parts of the Decision on the approval of direct payment and receipt of foreign currency/registration of foreign currency payment agent No. … dated …. sustain their effect.

Article 2. This decision is an indispensable part of the Decision on the approval of direct payment and receipt of foreign currency/registration of foreign currency payment agent No. … dated … by the State Bank’s branch of … (province/city).

 

 

GOVERNOR

 

Appendix 14

VIETNAM STATE BANK

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

No.   /QD-NHNN

... ... ..., date ... ... ... ...

 

DECISION

On the revocation of the Decision on the approval of direct payment and receipt of foreign currency, changes and extension of direct payment and receipt of foreign currency/Registration of foreign currency payment agent, changes and renewal of foreign currency payment agent registration

DIRECTOR OF STATE BANK’S BRANCH OF …

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

Pursuant to the Decision No. 2989/QD-NHNN dated December 14th 2009 by the Governor of the State Bank on regulating the functions, missions, authority and organizational structure of the State Bank's branches in municipalities/ Decision No. 2686/QD-NHNN dated December 19th 2014 by the Governor of Vietnam State Bank on regulating the functions, missions, authority and organizational structure of the State Bank's branch of Hanoi City/ Decision No. 2687/QD-NHNN dated December 19th 2014 by the Governor of Vietnam State Bank on regulating the functions, missions, authority and organizational structure of the State Bank’s branch of Ho Chi Minh City.

DECISION

Article 1: Revoking the Decision No. … dated …. issued to (name of economic organization) on the permission for direct payment and receipt of foreign currency, changes and extension of direct payment and receipt of currency (or the permission for acting as the foreign currency payment agent, changes and renewal of foreign currency payment agent registration). Reason for revocation:

Article 2. (Organization) … must terminate the activities of direct payment and receipt of foreign currency (or the activities of foreign currency payment agent) from the date of … and settle and close foreign currency accounts at commercial banks.

Article 3. This decision on revocation takes effect from the date of signing.

 

 

DIRECTOR

 

Appendix 15

VIETNAM STATE BANK

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

No.   /QD-NHNN

Hanoi, date ... ... ... ...

 

DECISION

On the revocation of the Decision on the approval of direct payment and receipt of foreign currency, changes and extension of direct payment and receipt of foreign currency/Registration of foreign currency payment agent, changes and renewal of foreign currency payment agent registration

GOVERNOR OF VIETNAM STATE BANK

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 dated December 13th 2005 and the Ordinance of amendments to the Foreign Exchange Ordinance No. 06/2013/UBTVQH13 dated March 18th 2013;

Pursuant to Vietnam State Bank’s Circular No. … dated … on the guidelines for the provision of foreign currency receipt and payment services;

DECISION

Article 1: Revoking the Decision No. … dated …. issued to Vietnam Post Corporations on the permission for direct payment and receipt of foreign currency, changes and extension of direct payment and receipt of currency (or the permission for acting as the foreign currency payment agent, changes and renewal of foreign currency payment agent registration). Reason for revocation:

Article 2.  Vietnam Post Corporations must terminate the activities of direct payment and receipt of foreign currency (or the activities of foreign currency payment agent) from the date of … and settle and close foreign currency accounts at commercial banks.

Article 3. This decision on revocation takes effect from the date of signing.

 

 

GOVERNOR

 

Appendix 16

Name of organization:

Telephone: (Reporting unit)

REPORT ON FOREIGN CURRENCY PAYMENT AGENT’S FIGURES BY ECONOMIC ORGANIZATION, CREDIT INSTITUTION OR FOREIGN BANK'S BRANCH ACTING AS THE FOREIGN CURRENCY PAYMENT AGENT

Quarter … year …

To:

- State Bank (Bureau of Foreign exchange management) (from Vietnam Post Corporations) - State Bank's branch of ...

Unit: Thousand US dollars

No.

Name of delegating organization:

Total amount received from the delegating organization in the period (converted to USD)*

Payments to beneficiaries

In foreign currency (converted to USD)*

Vietnam Dong

1

 

 

 

 

2

 

 

 

 

3

 

 

 

 

…..

 

 

 

 

Total

 

 

 

 

* Converted at the exchange rates on the final date of the reporting period.

 

 

LEGAL REPRESENTATIVE

 

Appendix 17

NAME OF ORGANIZATION ………….

Telephone: (Reporting unit)

REPORT ON FIGURES OF FOREIGN CURRENCY RECEIVED AND PAID BY ECONOMIC ORGANIZATION DIRECTLY PAYING AND RECEIVING FOREIGN CURRENCY

Quarter … year …

To:

- State Bank (Bureau of Foreign exchange management) (from Vietnam Post Corporations) - State Bank's branch of ...

1. Table 1: Applicable to: (i) the economic organization directly paying and receiving foreign currency in a territory; (ii) the branch of the economic organization in case the economic organization makes payments in foreign currency through its branches in various territories.

Unit: Thousand US dollars

No.

Name of nation from which money is transferred to Vietnam

Total amount of foreign currency received2 (converted to USD)*

Payments to beneficiaries

In foreign currency (converted to USD)*

In Vietnam Dong

1

 

 

 

 

2

 

 

 

 

3

 

 

 

 

....

 

 

 

 

Total

 

 

 

 

1 Not applicable to the economic organization’s branches

2 The economic organization directly paying and receiving foreign currency in a territory reports the total amount of foreign currency received from foreign nations; and the branches of the economic organization reports the total amount of foreign currency received from the head office of the economic organization.

3 Converted at the exchange rates on the final date of the reporting period.

 

 

LEGAL REPRESENTATIVE

 

2. Table 2: Applicable to: (i) the head office of the economic organization in case the economic organization makes payments in foreign currency in various territories; (ii) Vietnam Post Corporations.

Unit: Thousand US dollars

 

Name of nation from which money is transferred to Vietnam

Total amount of foreign currency received from foreign nations (converted to USD)

Total amount of foreign currency transferred to branches

Payments to beneficiaries

In foreign currency (converted to USD)2

In Vietnam Dong

Head office

 

 

 

 

 

Branch 1

 

 

 

 

 

Branch 2

 

 

 

Branch n

 

 

 

Total

 

 

 

 

 

1 Applicable to the head office.

2 Converted at the exchange rates on the final date of the reporting period.

 

 

LEGAL REPRESENTATIVE

 

Appendix 18

STATE BANK Branch of …

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom - Happiness

No.

... ... ..., date ... ... ... ...

 

REPORT ON THE LIST OF ECONOMIC ORGANIZATIONS DIRECTLY PAYING AND RECEIVING FOREIGN CURRENCY/ CREDIT INSTITUTIONS, FOREIGN BANKS’ BRANCHES, ECONOMIC ORGANIZATIONS ACTING AS FOREIGN CURRENCY PAYMENT AGENTS

To: State Bank of Vietnam (Bureau of Foreign exchange management)

1. The list of economic organizations directly paying and receiving foreign currency:

No.

Name of economic organization:

Quantity of written approvals

Note

1

 

 

 

2

 

 

 

3

 

 

 

 

 

 

2. The list of credit institutions, foreign banks' branches, economic organizations acting as foreign currency payment agents:

No.

Name of organization:

Quantity of written approvals

Note

1

 

 

 

2

 

 

 

3

 

 

 

 

 

 

 

 

DIRECTOR

 


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Số hiệu34/2015/TT-NHNN
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