Do I need to declare Customs when I carry money on entry into country through international border gates of Vietnam?
Do I need to declare Customs when I carry money on entry into country through international border gates of Vietnam? What is the fine level for bringing cash in excess of the legal limit without declaring it at Customs in Vietnam?
I'm a Vietnamese living in America who flew from the US to Vietnam and brought some cash with me. I would like to ask if I need to declare customs when international border gates of Vietnam? What is the fine level for bringing cash in excess of the legal limit without declaring it at Customs?
Please advise. Thankyou.
1. Do I need to declare Customs when I carry money on entry into country through international border gates of Vietnam?
According to Article 2 of Circular 15/2011/TT-NHNN on amount of cash in foreign currency, Vietnamese dong to be declared to the border Customs upon entry into, exit from the country, specifically as follows:
1. Individuals carry foreign currency, Vietnamese dong in cash, upon entry into or exit from the country with passport through international border gates of Vietnam, in excess of the following amount shall be required to declare to the border Customs:
a. USD 5,000 (Five thousand United States dollars) or other foreign currencies of the same value;
b. VND 15,000,000 (Fifteen million Vietnamese Dong).
2. In the event where a person, upon entry into the country, carries an amount of cash in foreign currency in excess of USD 5,000 or other foreign currencies of the same value and has a demand for depositing such amount of foreign currency to his foreign currency payment account at a credit institution, foreign bank’s branch authorized to engage in foreign exchange (hereinafter collectively referred to as authorized credit institutions), he shall be required to declare to the border Customs. Entry-exit declaration statement with confirmation of the border Customs about the carried amount of foreign currency in cash as a basis for the authorized credit institution to cause the foreign currency in cash deposited to the payment account.
3. Amount of foreign currency and Vietnamese dong in cash required to be declared at the border gate Customs as stipulated in Paragraph 1 of this Article shall not be applied to the individuals who carry means of payment, valuable papers in foreign currency or in Vietnamese dong such as traveler’s cheques, bank card, savings book, securities and other valuable papers.
Thus, when you bring an amount from 5,000 USD or 15,000,000 VND from abroad to Vietnam, it is required to declare customs.
2. What is the fine level for bringing cash in excess of the legal limit without declaring it at Customs in Vietnam?
In Clause 2, Article 10 of Decree 128/2020/ND-CP on violations against regulations on declaration of cash in foreign currencies, cash in Vietnamese currency, negotiable instruments, gold, other precious metals, gemstones taken along when leaving or entering Vietnam:
2. Penalties for failure to declare or to correctly declare the amount of cash in foreign currencies allowed to be carried along, cash in Vietnamese currency or gold carried in excess of the legal limit by a person when entering Vietnam using a passport or passport alternative granted by a Vietnamese or foreign competent authority, laissez-passer or bordering resident’s ID card, except for the case in Clause 3 of this Article are as follows:
a) A fine ranging from VND 1,000,000 to VND 2,000,000 shall be imposed if the exhibit is worth from VND 5,000,000 to less than VND 50,000,000;
b) A fine ranging from VND 5,000,000 to VND 10,000,000 shall be imposed if the exhibit is worth from VND 50,000,000 to less than VND 100,000,000;
c) A fine ranging from VND 10,000,000 to VND 20,000,000 shall be imposed if the exhibit is worth VND 100,000,000 or more but below the value that is liable to criminal prosecution.
According to this Article, if you bring cash without declaring at customs, you may be fined from 1,000,000 to 20,000,000 VND according to the level of behavior that you violate in Vietnam.
Best Regards!
