I have a friend in the US who is going to visit Vietnam soon. May I ask if there are any provisions in Vietnamese law on immigration procedures to Vietnam? How much money is my friend allowed to bring to Vietnam?
With your above question, Lawyer X would like to answer through the article below. Please follow up and read right away to understand the issues related to the procedure to bring cash into Vietnam!
Legal grounds
Circular 15/2011/TT-NHNN
Regulations on the amount of cash to declare when leaving the country
Article 2 of Circular 15/2011/TT-NHNN stipulates that individuals when exiting or entering through Vietnam’s international border gates with their passports, carry foreign currencies in cash or Vietnamese dong in cash above the limit specified below. These must be declared to the border gate customs:
a) USD 5,000 (Five thousand US dollars) or other foreign currencies of equivalent value;
b) 15,000,000 VND (Fifteen million Vietnamese Dong).
Note, the level of foreign currency in cash and Vietnam dong in cash that must be declared to the border gate customs above does not apply to individuals who bring all kinds of payment means, valuable papers in foreign currencies or dongs. Vietnam such as traveler’s checks, bank cards, passbooks, securities, and other valuable papers.
Bring foreign currency cash below the amount of cash to declare when exiting
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 their foreign currency payment account. Individuals opening at authorized credit institutions must also declare to the border gate customs. The entry-exit declaration form certified by the border gate Customs on the amount of foreign currency brought in is the basis for the credit institution to allow cash deposit in the payment account.
Procedures for depositing cash in foreign currency to an individual’s foreign currency payment account
According to Article 4 of Circular 15/2011/TT-NHNN stipulating depositing cash in foreign currency into an individual’s foreign currency payment account as follows:
Incoming individuals carrying foreign currency in cash and wishing to deposit this amount of foreign currency into their foreign currency payment accounts opened at authorized credit institutions shall comply with the following provisions:
– Individuals present to the authorized credit institutions the entry and exit declarations certified by the border gate Customs on the amount of foreign currency in cash. When performing transactions for customers, credit institutions are allowed to stamp to confirm the amount of foreign currency paid into the payment account in foreign currency on the original entry and exit declaration form, and keep 01 copy at the same time.
– The entry and exit declarations certified by the border gate customs office are only valid for individuals who deposit foreign currency cash into a foreign currency payment account within 60 days from the date on the entry declaration. – exit.
Customs declaration procedures on entry and exit with cash
Under Article 3 of Circular 15/2011/TT-NHNN stipulating documents to be presented to the border gate Customs when individuals exiting in foreign currency in cash, cash in Vietnam Dong must declare:
– Individuals on exit carrying foreign currency in cash, Vietnamese dong in cash over the amount specified in Clause 1, Article 2 of this Circular or over the amount brought in declared to the border gate customs upon their last entry, must Present to the border-gate Customs:
+ A certificate of bringing foreign currency in cash, Vietnam dong in cash abroad (hereinafter referred to as the Confirmation) issued by an authorized credit institution by the law on foreign exchange management;
+ Written approval for individuals to bring foreign currency cash, Vietnamese dong in cash abroad, issued by the State Bank of Vietnam.
– Individuals on exit carrying foreign currency in cash, Vietnamese dong in cash over the amount specified in Clause 1, Article 2 of this Circular, but not exceeding the amount brought in must present to the border gate customs declaration. entry – exit with certification of the border gate Customs on the amount of foreign currency cash, cash Vietnam Dong brought in when the last entry, no certification of the authorized credit institution is required.
The entry-exit declaration form certified by the border gate Customs on the amount of foreign currency in cash, Vietnamese dong in cash brought in when the last entry is valid only for individuals carrying foreign currency in cash, VND Vietnam cash abroad on the next exit within 12 months from the date recorded on the entry-exit declaration.
Thus, according to the above regulations, when passing through the border gate, you must present the documents as prescribed above for the customs to control you.
What is the penalty for bringing cash over the regulations without declaring it?
Article 6 of Circular 15 stipulates:
Individuals carrying foreign currency in cash, Vietnamese dong in cash when exiting or entering the country, and violating the provisions of this Circular, depending on the nature and seriousness of their violations, will be administratively handled or prosecuted for liability criminal liability by the law.
Accordingly, if you bring cash in foreign currency with a value equivalent to over USD 5,000 or over VND 15 million when exiting or entering through Vietnam’s international border gates without declaring it, depending on the amount Violations will be administratively handled or examined for penal liability.
About the administrative fine
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 concerning 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 are allowed to 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 1 to 20 million;
Those entering the country who declare more than the actual amount they bring will be fined from VND 2 to 25 million.
The case of being 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 a non-tariff zone into the inland or vice versa illegally Vietnamese currency, foreign currency worth from 100 million VND VND 100 million or less, but have been administratively sanctioned for this act or other acts such as smuggling, trading in banned goods, etc., they may be examined for penal liability for the crime of illegal transportation. goods and currency across borders.
The penalty 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 from VND 200 million to VND 1 billion or imprisonment 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 dongs or imprisonment from 5 to 10 years; if the crime is committed in case the illegal object is worth 500 million dongs or more.
In addition, offenders may also be subject to additional penalties such as a fine of between VND 10 and 50 million, a ban from holding certain posts, practicing certain professions, or doing certain jobs for one to five years
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Please see more:
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Frequently asked questions
For foreigners entering Vietnam:
According to the provisions of Article 20 of the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam 2014 as amended by Clause 11 Article 1 of the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam revised 2019 as follows:
“Article 20. Entry conditions
1. Foreigners may enter the country when they fully meet the following conditions:
a) Have a passport or valid international travel document and a visa, except for cases exempted from visas under this Law.
For foreigners entering the country under unilateral visa exemption, their passports must be valid for at least 06 months;
b) Not falling into the case of not allowing entry as prescribed in Article 21 of this Law.
2. Foreigners using electronic visas to enter must fully meet the conditions specified in Clause 1 of this Article and enter through international border gates decided by the Government.”
– For Vietnamese citizens:
According to Article 34 of the Law on Exit and Entry of Vietnamese citizens 2019, the entry conditions are as follows:
“Article 34. Entry conditions
Vietnamese citizens may enter the country when they have their entry and exit papers intact and still valid.
Accordingly, foreigners are allowed to enter the country when they fully meet the following conditions:
Have a passport or a valid international travel document and a visa, except for cases where visas are exempted according to regulations;
– For foreigners who enter the country under unilateral visa exemption, their passports must be valid for at least 06 months;
– Not in the case of not allowing entry as prescribed.
Vietnamese citizens are allowed to enter the country when they have their entry and exit papers intact and still valid.
Thus, the stipulation that foreigners must enter Vietnam at least 30 days from the time of their last exit from Vietnam in Article 20 of the Law on entry, exit, transit, and residence of foreigners in Vietnam 2014 has been revised. Amended by Clause 11 Article 1 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam as amended in 2019.
Entry procedures for foreigners who are experts will follow the following process:
For a foreigner to enter Vietnam, an entry visa is required, which can be obtained at an international airport in Vietnam or at a Vietnamese embassy/consulate abroad. During this Covid epidemic, normally foreigners will often apply for a visa at the airport, which is the most convenient and safest.
Dossier of application for an official letter of entry shall be made at the Immigration Department – Ministry of Public Security No. 44 Tran Phu, Ba Dinh, Hanoi (For businesses and organizations in the North from Quang Nam onwards) and at 333 Nguyen Trai, Phan Cu Trinh, District 1, Ho Chi Minh City (For businesses and organizations in the South with geographical locations from Quang Ngai upwards)
Processing time for immigration applications is from 3 to 5 working days.
Conclusion: So the above is What is the procedure to bring cash into Vietnam?. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
