Vietnam: Foreign currency transfer limit for market research

According to Clause 2 Article 5 of Decree No. 124/2017/NĐ-CP of Vietnam’s Government, foreign currency transfer limit is specified as follows:

- The foreign currency transfer limit shall not be less than or equal to US$ 500,000 (five hundred thousand) and is included in the total outward investment capital;

- In case the investor that is a wholly state-owned enterprise or subsidiary of the wholly state-owned enterprise, the transactions that are made as prescribed in this Clause with a value of more than US$ 500,000 (five hundred thousand) shall be approved by the State Bank of Vietnam after comments of the representative agency of state capital owner are given;

- In case the transactions with a value of less than or equal to US$ 500,000 (five hundred thousand) are made by the wholly state-owned enterprise or the investor that is the subsidiary of the wholly state-owned enterprise, the direct representative of state capital owner shall submit a written declaration to the representative agency of state capital owner that foreign currencies are transferred abroad and be responsible to law for such commitment;

- In case the investor is not regulated in Points b and c of this Clause, the transactions that are made as prescribed in Clause 1 of this Article with a value of more than US$ 500,000 (five hundred thousand) shall be approved by the State Bank of Vietnam.

View more details at Decree No. 124/2017/NĐ-CP of Vietnam’s Government, effective from January 01, 2018.

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