Legal Counselling

Vietnam: Procedures and applications for transfer of foreign currency abroad

Lê Hải

09:26, 17/08/2018

Procedures and applications for transfer of foreign currency abroad in the case prescribed in Clause 2 and Clause 4, Article 5 of Decree No. 124/2017/NĐ-CP of Vietnam’s Government are specified as follows:

Application:

- A written request for transfer of foreign currency abroad, including the investor’s explanation for request for transfer of foreign currency abroad before issuance of the outward investment registration certificate;

- Comments of the representative authority of state capital owner (applicable to the case specified in Point b, Clause 2 and Point a, Clause 4, Article 5 of Decree No. 124/2017/NĐ-CP of Vietnam’s Government);

- A copy from the master register or certified true copy or copy presented together with the original for comparison of the investor’s business registration certificate or equivalent documents.

Procedures:

- The investor shall submit 01 application directly or by post, to the State Bank of Vietnam;

- In case the application is insufficient, within 03 working days from the day on which the application is received, the State Bank of Vietnam shall submit a written request for completion of the application to the investor;

- Within 10 working days from the day on which a sufficient application is received, the State Bank of Vietnam shall consider granting approval for or reject the transfer of foreign currency abroad.

In case of rejection, the State Bank of Vietnam shall provide explanation in writing.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

24 lượt xem

- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn