Penalties when foreigners bring money limit exceeded into Vietnam

Penalties when foreigners bring money limit exceeded into Vietnam. Can foreigners save money while living in Vietnam? When entering and exiting through international border gates in Vietnam; in addition to checking personal papers and passports, in some cases; they also have to declare to the border gate Customs the amount of cash they bring. Let us learn about this topic with LSX law firm as follow:

How much money can foreigners bring into Vietnam?

According to Article 2 of Circular 15/2011/TT-NHNN; foreigners when exiting or entering through Vietnam’s international border gates with their passports carry foreign currency in cash; or Vietnamese dong in cash above the limit specified below. These must be declared to the border gate customs:

– USD 5,000 (Five thousand US dollars) or other foreign currencies of equivalent value;

– 15,000,000 VND (Fifteen million Vietnamese Dong).

In case individuals on entry bring foreign currency cash equal to or lower than USD 5,000; or other foreign currencies of equivalent value; and wish to deposit this amount of foreign currency in cash into a foreign currency payment account of the Individuals opening at credit institutions; foreign bank branches authorized to conduct foreign exchange activities, must also declare to the border gate Customs.

The entry-exit declaration form certified by the border-gate customs office on the amount of foreign currency brought in is the basis for the authorized credit institution to deposit foreign currency in cash into the payment account.

The level of foreign currency in cash; and Vietnamese dong in cash required to be declared to the border-gate customs as above; does not apply to individuals carrying all kinds of payment means; valuable papers in foreign currency or in Vietnam dong such as travelers checks; bank cards, passbooks, securities and other valuable papers.

In addition to the above regulation, currently; Vietnamese law has no other regulations limiting the amount of money that foreigners can bring when entering; or leaving Vietnam’s international border gates. However, if you bring cash over 5,000 USD or other foreign currencies of equivalent value or over 15 million VND to enter Vietnam; you must declare it to the border gate customs.

Penalties when foreigners bring money limit exceeded into Vietnam

Article 6 of Circular 15 stipulates:

Individuals carrying foreign currency in cash, Vietnamese dong in cash when exiting or entering violate the provisions of this Circular; depending on the nature and seriousness of the violation; will be; administratively handled or examined for penal liability in accordance with law.

Accordingly, if you bring cash in foreign currency with a value equivalent to over 5,000 USD or over 15 million VND when exiting; and entering through Vietnam’s international border gates without declaring it; depending on the amount Violations will be administratively handled or examined for penal liability.

Administrative fine when foreigners bring money limit exceeded into Vietnam

Article 10 of Decree 128/2020/ND-CP stipulates the fine levels for violations against regulations on customs declaration by people on exit or entry with respect to foreign currencies in cash, Vietnamese dong in cash as follows:

Persons leaving the country who fail to declare; or declare the wrong number of foreign currencies in cash in the currency they may bring; will be fined from 01 – 50 million dong;

Those entering the country who fail to declare; or declare the wrong number of foreign currencies in cash in the currency they are allowed to bring will be fined from VND 01 – 20 million;

Those entering the country who declare more than the actual amount they bring will be fined from 2 to 25 million VND.

Criminally handled

According to Article 189 of the Penal Code 2015, as amended and supplemented in 2017:

Those who transport across the border or from the non-tariff zone into the inland or vice versa illegally Vietnamese money; foreign currency worth 100 million VND; or more or less than 100 million VND but have been administratively sanctioned for this or other acts such as: smuggling; trade in prohibited goods… can be; prosecuted for criminal liability for the crime of illegally transporting goods and currency across the border.
The penalty prescribed for this crime is a non-custodial reform for up to two years or a prison term of between three months and two years. Besides, this crime also stipulates other aggravating penalty frames such as:
A fine of between VND 200 million and VND 1 billion or a prison term of between 2 and 5 years if the crime is; committed in one of the following cases:

• Organizing;
• Illegal objects worth from 300 to 500 million VND;
• Illegal objects are national treasures;
• Abuse of positions and powers;
• Taking advantage of the name of an agency or organization;
• Committing the crime twice or more;
• Dangerous recidivism.
  A fine of from 01 to 03 billion dong or a prison term of 5 to 10 years if the crime is; committed in case the illegal object is worth 500 million dong or more.
  In addition, offenders may also be subject to an additional penalty of a fine of between 10 million and 50 million dong, a ban from holding certain posts, practicing certain professions or doing certain jobs for one to five years.

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