New currency regulations for exiting travellers
17/08/2011 09:06 am
Laws - On August 15, the State Bank of Vietnam (SBV) officially announced new regulations for travellers taking foreign currency out of Vietnam.
The regulation aims to control the possibility of foreign currency “bleeding”.
Under the new regulation, travellers exiting Vietnam with more than USD 5,000 in cash or the equivalent amount in other foreign currencies must declare the amount with custom officers. This replaces the old limit of USD 7,000. Additionally, the new regulation states that custom declarations are also obligatory when exiting Vietnam with more than VND 15 million.
Individuals wanting to transfer foreign currency in cash into bank accounts must also declare it with custom officers.
The regulation aims to control the possibility of foreign currency “bleeding”.
Under the new regulation, travellers exiting Vietnam with more than USD 5,000 in cash or the equivalent amount in other foreign currencies must declare the amount with custom officers. This replaces the old limit of USD 7,000. Additionally, the new regulation states that custom declarations are also obligatory when exiting Vietnam with more than VND 15 million.
Individuals wanting to transfer foreign currency in cash into bank accounts must also declare it with custom officers.
Source: Bao Dang Cong San
.:: Other news
• Regulations on agricultural insurance need to be adjusted (22/05/2012)
• SBV regulations on post-supervision processing for credit institutions and foreign bank branches (07/05/2012)
• Tougher regulations for public companies with chartered capital of over 120 billion dong (27/04/2012)
• Regulations issued on independent auditing (25/04/2012)
• New regulations on foreign currency status issued (11/04/2012)
• New regulations to take effect this month (09/04/2012)
• Top 10 most significant laws and regulations of 2011 (13/01/2012)
• New regulations on digital signature certification (13/12/2011)
• Regulations drafted for competitive power market (24/11/2011)
• M&A need clear, detailed regulations (23/11/2011)
• SBV regulations on post-supervision processing for credit institutions and foreign bank branches (07/05/2012)
• Tougher regulations for public companies with chartered capital of over 120 billion dong (27/04/2012)
• Regulations issued on independent auditing (25/04/2012)
• New regulations on foreign currency status issued (11/04/2012)
• New regulations to take effect this month (09/04/2012)
• Top 10 most significant laws and regulations of 2011 (13/01/2012)
• New regulations on digital signature certification (13/12/2011)
• Regulations drafted for competitive power market (24/11/2011)
• M&A need clear, detailed regulations (23/11/2011)