Title: Circular 33/2013/TT-NHNN Guiding procedures for the approval for activities of export and import of foreign currencies in cash of the authorized banks

Type: Circular

Issuing Agency: The State Bank of Viet Nam

Responsible Agency: The State Bank of Viet Nam

Issuing Date: 26-12-2013

 

Article 1. Scope of regulation and subjects of application

This Circular prescribes procedures for the approval for activities of export and import of foreign currencies in cash of the commercial banks, foreign banks’ branches authorized to operate foreign exchange (hereinafter referred to as the authorized banks).

Article 2. Forms and authority of the approval for activities of export and imports of foreign currencies in cash

1. Activities of export and import of foreign currencies in cash of the authorized banks may be performed through the Noi Bai and Tan Son Nhat international aviation border gates.

2. When having need of export and import of foreign currencies in cash, the authorized banks must do procedures for the approval of export and import of foreign currencies in cash for each time with the State bank of Vietnam (SBV) in accordance with provisions in this Circular.

3. The State bank’s branch in Hanoi City shall grant decision on approving for export and import of foreign currencies in cash for the authorized banks that have need of export and import of foreign currencies in cash through the Noi Bai international aviation border gate.

4. The State bank’s branch in Ho Chi Minh City shall grant decision on approving for export and import of foreign currencies in cash for the authorized banks that have need of export and import of foreign currencies in cash through the Tan Son Nhat international aviation border gate.

Article 3. Procedures for requesting for the approval for export and import of foreign currencies in cash of the authorized banks

1. When having need of conducting each time of export or import of foreign currencies in cash, the authorized banks shall make 01 (one) set of dossier of requesting for the approval for export or import of foreign currencies in cash under each time of sending via post or remitting directly to the State bank’s branches in Hanoi and Ho Chi Minh Cities.  A dossier includes:

a) Written request for the approval for export and import of foreign currencies in cash signed by the representative at law or the authorized person or the person decentralized under authorization of the authorized banks (according to form at Annex No. 01);

b) Contract of export and/or import of foreign currencies in cash signed with foreign banks or financial organizations (just send for the first time and send for addition upon having changes of partners);

c) Internal rules of the authorized banks about activities of export and import of foreign currencies in cash, in which, prescribing on decentralization for authorization to perform activities of export and import of foreign currencies in cash inside of system and prescribing management, supervision, assurance on safety in delivery and receipt, preservation and transport of foreign currencies in cash must observe the SBV’s regulations (just send for the first time and send for addition upon having changes of partners);

d) Letter of authorization in case where the person sign on the application for the approval is the authorized representative of the authorized banks.

Dossier must be made in Vietnamese. Copies in Vietnamese and translations from foreign languages to Vietnamese must be signed for confirmation by the representative at law of the authorized person or the person decentralized under authorization of the authorized banks.

2. Within 02 (two) working days, after receiving a full and valid dossier as prescribed in this Circular, the State bank’s branches in Hanoi and Ho Chi Minh Cities shall consider and approve the export and import of foreign currencies in cash or the authorized banks (according to form at Annex No.02). In case of refusal, the State bank’s branches in Hanoi and Ho Chi Minh Cities shall issue a written reply clearly stating reason thereof.   

3. Within 03 (three) working days after export and import of foreign currencies in cash, the authorized banks shall submit to the State bank’s branches in Hanoi and/or Ho Chi Minh Cities copies (with signature for confirmation of the representative at law of the authorized banks or the authorized person or person assigned inside of the authorized banks), documents related to export and import of foreign currencies in cash include:   payment telegram and customs declaration.

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