Procedure for the issuance the Certificate of Eligibility to Produce Gold Jewelry and Fine Art in Vietnam

Procedure for the issuance the Certificate of Eligibility to Produce Gold Jewelry and Fine Art in Vietnam (Internet image)

Regarding this issue, LawNet responded as follows:

The State Bank of Vietnam issued Decision 109/QD-NHNN dated January 19, 2023, announcing the amended administrative procedures in the field of foreign exchange activities performed at the Single-Window Department under the management function of the State Bank of Vietnam.

1. Components of the application for the Certificate of eligibility to produce gold jewelry and fine art in Vietnam

An application for a Certificate of Eligibility to Produce Gold Jewelry and Fine Art includes:

- An application form for the Certificate of eligibility to produce gold jewelry and fine art (made according to the form in Appendix 1 to Circular 16/2012/TT-NHNN);

Application for issuance of Certificate of eligibility for production

- Documents proving the ownership or right to use the production site; a declaration of facilities and equipment in service of the production of gold jewelry and fine arts.

2. Procedure for the issuance the Certificate of Eligibility to Produce Gold Jewelry and Fine Art in Vietnam

The application for the Certificate of eligibility to produce gold jewelry and fine arts at the State Bank of Vietnam branch in the province or city where the enterprise's head office is located is carried out in 3 steps as follows:

- Step 1: The enterprise sends the dossier to the State Bank branch in the province or city where the enterprise's head office is located.

- Step 2: State Bank branch conducts a physical inspection of facilities and equipment to serve the production of gold jewelry and fine art by enterprises.

- Step 3: Pursuant to regulations on conditions, documents, procedures, and results of physical inspection of facilities and equipment serving the production of gold jewelry and fine arts of enterprises, within 30 working days from the date of receipt of complete and valid dossiers, the State Bank's branch shall consider, grant, or refuse to grant the Certificate of eligibility for gold jewelry and fine art production.

* Methods of submission of the application for issuance of a Certificate of Eligibility to Produce Gold Jewelry and Fine Art in Vietnam

- Submit directly at the One-Stop-Shop Department of the State Bank branch in the province or city where the enterprise's head office is located; or

- Via postal service.

3. Conditions for producing gold jewellery and fine arts in Vietnam

Enterprises producing gold jewellery and fine arts shall be issued with the Qualification certificate of gold jewellery and fine arts production when the following conditions are satisfied:

- The enterprise is established under law provisions that have registered to produce gold jewellery and fine arts in the Certificate of business registration.

- Having premises, facilities and necessary equipment serving the production of gold jewellery and fine arts.

4. What are gold jewellery and fine arts?

According to Clause 1, Article 3 of Decree 24/2012/ND-CP, gold jewellery and fine arts of which the gold content is 8 Carat (equivalent to 33.33%) or above that have been processed and fashioned to serve adornment and fine arts.

5. Responsibilities of enterprises producing gold jewellery and fine arts in Vietnam

Specifically, in Article 6 of Decree 24/2012/ND-CP, the responsibilities of enterprises producing gold jewellery and fine arts are as follows:

- Affixing their signs, symbols and weight on their products, announcing applicable standards and product weight in accordance with law provisions, bearing responsibility before law for their announced applicable standards and announced weight of gold products manufactured by themselves.

-. Taking responsibility under law for the announcement of applicable standards and weight of gold products which have been processed on their behalf.

- Complying with law provisions on accounting regime, invoices and accounting records.

- Taking measures for safety in production and business, environmental protection, fire and explosion prevention and fighting.

- Sustaining the conditions stipulated in Clause 1 Article 5 of Decree 24/2012/ND-CP

- Complying with this Decree and other relevant law provisions.

Decision 109/QD-NHNN takes effect from February 15, 2023.

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