THE STATE BANK GOVERNOR

DECIDES:

Article 1.- Subjects and scope of regulation

1. This Decision applies to the carrying of jewelry gold, fine-art gold articles, ingot gold, raw material gold and/or international standard gold by the following subjects on entry or exit:

a/ Vietnamese and foreign individuals who carry gold when they leave or enter Vietnam through Vietnamese border-gates with passports granted by competent Vietnamese or foreign authorities (hereinafter called "individuals on exit or entry");

b/ Vietnamese individuals permitted to settle abroad, who carry gold when leaving the country, or foreign individuals permitted to settle in Vietnam, who carry gold when entering the country;

c/ Vietnamese and foreign individuals who carry gold when leaving or entering Vietnam through Vietnamese border gates with laissez-passers or border identity cards;

2. Vietnamese and foreign individuals must neither send gold abroad nor receive gold sent from abroad in the form of gifts or presents by post, air or sea.

Article 2.- Interpretation of terms

In this Decision, the following phrases are construed as follows:

1. "Jewelry gold" means gold products whether or not set with gemstones, precious metals or other materials to meet the people�s adornment needs, such as rings, necklaces, bracelets, earrings, pins and other kinds.

2. "Fine-art gold articles" mean gold products whether or not set with gemstones, precious metals or other materials to meet the artistic decoration needs, such as picture frames, statues and other kinds.

3. "Ingot gold" means gold beaten in ingots in various forms, stamped with figures indicating weight, quality and the manufacturer�s symbol and sign.

4. "Raw material gold" means gold in the forms of pieces, bars, leaves, granules, wires, solution, powder, ornamental and fine-art semi-finished products and other kinds, which are not gold of international standard.

5. "International standard gold" means gold pieces or bars having a quality of from 99.5% and weighing 1 (one) kilogram or more, and bearing hallmarks of gold manufacturers recognized by international gold associations and gold trading centers.

Article 3.- Carrying of international standard gold by individuals who leave or enter Vietnam with passports

1. Individuals may carry up to 1 (one) kilogram of international standard gold when entering the country but must declare such to the customs. If carrying more than 1 (one) kilogram, they must complete the procedures for depositing the excessive amount at the customs warehouse, which they would receive back and bring out of the country, or complete the procedures for sending such amount abroad and shall bear all related arising expenses.

2. Individuals who wish to carry international standard gold when leaving the country must have permits granted by the directors of the State Bank�s branches in the provinces or centrally-run cities where they reside and must declare such to the customs. Those who already brought into Vietnam international standard gold within the quantity limit specified in Clause 1 of this Article and also declared such to the customs, may carry out of the country gold in an amount not exceeding the amount of gold they brought into the country without having to apply for permits from the State Bank but must produce the customs declaration forms they filled in upon their entry.

Article 4.- Carrying of non-international standard gold by individuals leaving or entering Vietnam with passports

1. Individuals who carry out of the country jewelry gold, fine-art gold articles, ingot gold and/or raw material gold in a total amount of 300 (three hundred) grams or more must declare such to the customs. If they carry fine-art gold articles, ingot gold and/or raw material gold in a total amount of 1 (one) kilogram or more, they must have permits granted by the directors of the State Bank�s branches in the provinces or centrally-run cities where they reside.

Individuals who already brought into Vietnam jewelry gold, fine-art gold articles, ingot gold and/or raw material gold may carry out of the country an amount thereof not exceeding the amount they brought into, which they already declared to the customs when entering the country, without having to apply for permits from the State Bank, but they must produce the Customs declaration forms they filled in upon their entry.

2. Individuals who carry into Vietnam jewelry gold, fine-art gold articles, ingot gold and/or raw material gold in a total amount of 300 (three hundred) grams or more must declare such to the customs. If carrying ingot gold and/or raw material gold in a total amount exceeding 1 (one) kilogram, they must complete the procedures for depositing the excessive amount at the customs warehouse, which they would receive back and bring with them out of the country, or complete the procedures for sending such amount abroad and bear all related expenses that arise therefrom.

Article 5.- Carrying of gold by individuals leaving or entering Vietnam with laissez-passers or border identity cards

1. Vietnamese or foreign individuals who enter or leave Vietnam with laissez-passers or border identity cards must not carry fine-art gold articles, ingot gold, raw material gold and/or international standard gold.

2. Vietnamese or foreign individuals who enter or leave Vietnam with laissez-passers or border identity cards may wear jewelry gold of ornamental character and shall not have to declare them with the customs.

Article 6.- Carrying of gold by individuals leaving or entering Vietnam in cases of settlement

1. If foreign individuals, who are permitted to settle in Vietnam, carry into the country jewelry gold, fine-art gold articles, ingot gold and/or raw material gold in a total amount of 300 (three hundred) grams or more, or international standard gold, they must declare such to the customs but shall not have to apply for the State Bank�s permits.

2. If Vietnamese individuals, who are permitted to settle abroad, carry out of the country jewelry gold, fine-art gold articles, ingot gold and/or raw material gold in a total amount of 300 (three hundred) grams or more, they must declare such to the customs. Those who carry fine-art gold articles, ingot gold and/or raw material gold in a total amount of 3 (three) kilograms or more, or international standard gold in an amount of 1 (one) kilogram or more, must have permits granted by the directors of the State Bank�s branches of the provinces or cities where they reside.

Article 7.- Dossiers and procedures of application for permits

Individuals who wish to have permits for carrying gold out of the country must send dossiers to the State Bank�s branches of the provinces or centrally-run cities where they reside. Such a dossier consists of:

1. An application for a permit for carrying gold out of the country, made according to a set form.

2. Sale invoices or other papers proving the lawful origin, or written undertakings of the gold carrier of the lawfulness, of the gold amount he/she needs to carry.

3. A copy of the passport (the passport must be produced for comparison) and the entry visa, for the countries requesting entry visas.

4. The decision of the authority competent to permit the settlement (for individuals carrying gold when going to settle abroad).

Within 10 (ten) working days after receiving the complete and valid dossiers, the directors of the State Bank�s branches of the provinces or centrally-run cities shall consider them and grant or refuse to grant the permits to the applicants. In case of refusal, they must reply in writing, clearly stating the reason therefor.

Article 8.- Implementation effect

1. This Decision takes effect 15 days after its signing and replaces Decision No. 416/1998/QD-NHNN7 of December 8, 1998 of the State Bank Governor on the carrying of gold by individuals on entry or exit.

2. The director of the State Bank�s Office, the director of the Foreign Exchange Management Department, the heads of the concerned units of the State Bank, the directors of the State Bank�s provincial/municipal branches, and concerned individuals shall have to implement this Decision.

For the State Bank Governor
Deputy Governor
DUONG THU HUONG