Legal Counselling

Vietnam: Individuals carrying gold abroad must declare customs

11:35, 08/02/2015

On exit or entry, individuals are allowed to carry foreign currency cash, Vietnamese dong cash and gold, but must be strictly controlled. In case of carrying excess, they must declare customs.

According to Vietnam’s regulations:

1. On entry, residents and non-residents being individuals carrying foreign currency cash, Vietnamese dong cash and gold in excess of the limits stipulated by the State Bank of Vietnam must declare with the border-gate customs agencies.

2. On exit, residents and non-residents being individuals carrying foreign currency cash, Vietnamese dong cash and gold in excess of the limits stipulated by the State Bank of Vietnam must declare with the border-gate customs agencies and present papers as prescribed by the State bank of Vietnam.

Limits on foreign currencies in cash, Vietnamese dong in cash and gold are specified in Circular No. 11/2014/TT-NHNN of the State Bank of Vietnam.

3. Residents being credit institutions are entitled to implement export, import of foreign currency cash after receiving written approval from the State bank of Vietnam. The State bank of Vietnam shall provide on dossiers, orders of and procedures for acceptance of activities of export and import of foreign currency cash of authorized credit institutions specified in Circular No. 32/2013/TT-NHNN of the State Bank of Vietnam.

View details at the Amending Ordinance on Foreign Exchange Control 2013 of Vietnam takes effect from January 01, 2014.

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