Regulations on gold export and import activities in Vietnam

Regulations on gold export and import activities in Vietnam (Internet image)

Regulations on gold export and import activities in Vietnam

Currently, gold export and import activities are regulated in Decree 24/2012/ND-CP, specifically as follows:

Import and export of gold jewellery and fine arts in Vietnam

- The import and export of gold jewellery and fine arts shall be carried out in conformity with the Certificate of business registration or the Certificate of enterprise registration.

- The import and export of gold jewellery and fine arts for international exhibitions and trade fairs shall be carried out in accordance with provisions of the Government on international exhibitions and trade fairs.

Import and export of gold material

- Depending on targets of monetary policies and gold supply-demand in each period, the State Bank shall organize the import and export of gold material for gold bar production, issue the licenses to import gold material to enterprises in accordance with provisions of Clause 3, 4, 5 and 6 of Article 14 of Decree 24/2012/ND-CP and issue the license to export gold material to enterprises that possess the License for gold exploitation in accordance with Clause 7 of Article 14 of Decree 24/2012/ND-CP.

- The import and export of gold material by the State Bank shall be exempt from import and export duties under the decisions of the Prime Minister.

- The State Bank shall consider and issue the License to import and export gold material for gold jewellery and fine arts production to enterprises that have obtained the Qualification certificate of gold jewellery and fine arts production.

- Enterprises doing gold business that have contracted to process gold jewellery and fine arts for foreign country shall be issued with the License to temporary import gold for re-export by the State bank.

- Annually, the State Bank shall consider and issue the License to import gold material in the planning year to foreign-invested companies depending on the production capacity and the report on the export of gold jewellery and fine arts in the previous year.

- Enterprises investing in gold exploitation overseas wishing to import gold exploited abroad shall be considered and issued with the License to import gold material by the State Bank.

- Enterprises possessing the license to exploit gold shall be considered and issued with the License to export gold material by the State Bank.

- The import and export of gold material in form of powder, solution, solder, salt and other semi-finished golden jewellery shall be carried out in conformity with the Certificate of business registration or the Certificate of enterprise registration.

- The State Bank shall stipulate the conditions, procedures and dossiers on the issuance of the License to import and export gold material in accordance with Clause 3, 4, 5, 6 and 7 of Article 14 of Decree 24/2012/ND-CP.

Individuals bringing along gold when entering, exiting the country

Vietnamese and foreigners when entering, exiting the country through international border gates shall be entitled to bring along gold in accordance with provisions of the State Bank.

Duong Chau Thanh

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