Every time Tet comes and spring arrives, Vietnamese people living abroad (commonly known as Viet Kieu) always hope to return to their homeland to visit family, relatives, and friends. Like many other expatriates, Viet Kieu are eager to prepare gifts, money, and other items to present to their relatives, as well as funds for personal expenses during their stay in Vietnam. However, does Vietnamese law impose any restrictions on the amount of cash brought back? Below are some points to note.
Vietnamese law stipulates that individuals entering Vietnam through international border gates, including international land border gates, international airways, international seaports, and international river ports, using passports and other valid documents in lieu of household registration, are allowed to carry foreign currency in cash, Vietnamese currency in cash, and goods, but must ensure compliance with customs declaration regulations as well as the quantity of goods and money brought in.
According to the provisions of Article 2 Circular 15/2011/TT-NHNN, individuals exiting or entering Vietnam through international border gates using passports carrying foreign currency in cash, Vietnamese currency in cash exceeding the below stipulated amounts must declare to the border gate customs:
- 5,000 USD or other foreign currencies of equivalent value;- 15,000,000 VND.
In cases where individuals entering Vietnam carry foreign currency in cash equal to or less than 5,000 USD or other foreign currencies of equivalent value and wish to deposit this cash amount into a foreign currency payment account opened at a credit institution or branch of a foreign bank licensed for foreign exchange operations, they must also declare to the border gate customs.
The stipulated amounts of foreign currency in cash and Vietnamese currency in cash requiring declaration to the border gate customs mentioned above do not apply to individuals carrying payment instruments, valuable papers in foreign currency or Vietnamese currency such as traveler's checks, bank cards, savings books, securities, and other valuable papers.
Thus, Overseas Vietnamese returning to Vietnam are not limited in the amount of cash they can bring in but are required to declare to customs as per the above regulations.
In cases where Overseas Vietnamese violate the customs declaration regulations, depending on the nature and severity of the violation, they will be subject to administrative handling as per the provisions of Clause 6, Article 1 Decree 45/2016/ND-CP or will be subject to criminal prosecution for the crime of unlawful goods and money transportation across borders as stipulated in Article 154 of the Penal Code 1999.
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