Procedures for granting a license to import raw gold for FDI enterprises in Vietnam

Bao Ngoc

08:55, 09/08/2022

State Bank of Vietnam promulgated Circular 15/2021/TT-NHNN amending and supplementing Circular 16/2012/TT-NHNN guiding some articles of Decree 24/2012/ND-CP on gold business management.

According to the Circular, supplementing regulations on order and procedures for licensing the import of raw gold for foreign-invested enterprises to produce gold jewellery and fine arts under the national single-window system as follows:

- If there is a need to import raw gold for the production of gold jewelry and fine art, the enterprise shall make and send 01 dossier to the State Bank of Vietnam under regulations. Records include:

+ An application form for a license to import raw gold (made according to the form in Appendix 5 to Circular 16/2012/TT-NHNN of Vietnam );

+ Investment certificate;

+ Report on the implementation of export, import and consumption of gold products in the Vietnamese market within 12 months immediately before the reporting time, enclosed with the import and export customs declarations and a certified deduction slip receipt from the Customs (according to the form in Appendix 8 to Circular 16/2012 of Vietnam);

+ The production and business plan of the enterprise; documents, documents proving the production capacity of the enterprise;

+ Contracts for processing gold jewelry and fine art with foreign countries.

Within 15 working days from the date of receipt of complete and valid dossiers, the State Bank of Vietnam shall consider granting or refusing to grant (specify reasons) the license to import raw gold for enterprises.

Circular 15/2021/TT-NHNN of Vietnam takes effect from November 20, 2021.

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