Decision No. 921/2005/QĐ-NHNN amends the threshold for carrying foreign currency and Vietnamese dong when entering and exiting the country, increasing the permitted amount from 7,000 USD to 7,000 USD (equivalent) and from 15 million VND to 15 million VND.
Scope of application
Citizens and businesses when entering and exiting the country.
Key points
- Citizens/businesses → are allowed to carry 7,000 USD (equivalent) or 15 million VND when entering and exiting the country → without specific conditions, levels, or timeframes.
- Citizens/businesses → are not allowed to exceed the permitted thresholds above → without specific sanctions.
- This Decision → shall take effect 15 days from the date of publication in the Official Gazette → without specific conditions, levels, or timeframes.
- Heads of Departments and Directorates related to the State Bank of Vietnam, Directors of Provincial Branches of the State Bank of Vietnam, General Directors (Directors) of authorized banks shall be responsible for implementing this Decision → without specific conditions, levels, or timeframes.
- This Decision → amends Clause a and b of Article 1 of Decision No. 337/1998/QĐ-NHNN → without specific conditions, levels, or timeframes.
🌐 Social impact of this document
- Citizens/businesses will have more freedom when carrying foreign currency and Vietnamese dong when entering and exiting the country.
- However, the lack of specific sanctions may lead to difficulties in controlling actions that exceed the permitted thresholds.
❓ Frequently asked questions
How much foreign currency and Vietnamese dong can citizens/businesses carry when entering and exiting the country?
Citizens/businesses are allowed to carry 7,000 USD (equivalent) or 15 million VND when entering and exiting the country.
What sanctions are there for exceeding the permitted thresholds for carrying foreign currency and Vietnamese dong?
This Decision does not specify specific sanctions for actions that exceed the permitted thresholds for carrying foreign currency and Vietnamese dong.
When does this Decision take effect?
This Decision takes effect 15 days from the date of publication in the Official Gazette.
Who is responsible for implementing this Decision?
Heads of Departments and Directorates related to the State Bank of Vietnam, Directors of Provincial Branches of the State Bank of Vietnam, General Directors (Directors) of authorized banks shall be responsible for implementing this Decision.
Which provision does this Decision amend in Decision No. 337/1998/QĐ-NHNN?
This Decision amends Clause a and b of Article 1 of Decision No. 337/1998/QĐ-NHNN.
Full text
Pursuant to …;
Regarding the amendment of Clause a and b of Article 1 of Decision No. 337/1998/QĐ-NHNN7 dated October 10, 1998, of the Governor of the State Bank of Vietnam on carrying foreign currency in cash and Vietnamese dong in cash when entering and exiting the country
on October 10, 1998, concerning carrying foreign currency
in cash and Vietnamese dong in cash when entering and exiting the country
_____________________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997; the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated June 17, 2003;
Pursuant to Decree No. 52/2003/NĐ-CP dated May 19, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
Pursuant to Decree No. 63/1998/NĐ-CP dated August 17, 1998 of the Government on Foreign Exchange Management;
At the proposal of the Head of the Foreign Exchange Management Department,
Pursuant to …;
Article 1. Amend Clause a and b of Article 1 of Decision No. 337/1998/QĐ-NHNN7 dated October 10, 1998, of the Governor of the State Bank of Vietnam on carrying foreign currency in cash and Vietnamese dong in cash when entering and exiting the country as follows:
“a. 7,000 USD (Seven thousand United States Dollars) or other foreign currencies with equivalent value.
b. 15,000,000 VND (Fifteen million Vietnamese dong).”
Article 2. This Decision shall take effect fifteen days from the date of publication in the Official Gazette.
Article 3. The Director of the Office, Heads of the Department of Foreign Exchange Management, Heads of relevant Departments and Bureaus of the State Bank of Vietnam, Directors of Branches of the State Bank of Vietnam in provinces and cities, General Directors (Directors) of permitted banks shall be responsible for implementing this Decision.
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