Chapter III
GOLD IMPORT AND EXPORT
Article 11.- Import and export of gold jewelry and fine art items
1. The import and export of gold jewelry shall comply with the enterprises’ business registration certificates and the Prime Minister’s regulations on the import and export management;
2. The import and export of gold fine art items of less than three kilograms in weight shall comply with the enterprises’ business registration certificates and the Prime Minister’s regulations on the import and export management;
3. The import and export of gold fine art items of three kilograms or more in weight must be permitted by the State Bank;
4. The import and export of gold jewelry and fine art items for exhibitions and fairs shall comply with the Government’s regulations on trade exhibitions and fairs.
Article 12.- Import and export of raw material gold and ingot gold
1. Basing itself on the demands for raw materials for the production of gold jewelry and fine art items and ingot gold as well as the monetary policy objectives in each period of time, the State Bank shall consider and permit enterprises which have made gold business registration to import and export ingot gold and raw material gold in the forms of pieces, bars, leaves, granules, wires and powder if they fully meet the following conditions:
a/ Having a minimum legal capital of 5 (five) billion Vietnam dong;
b/ Conducting business with profit in the latest year.
2. Enterprises that have made gold business registration may import and export various kinds of gold jewelry in the form of semi-finished products, solution, soldering flakes and gold salt without having to apply for the State Bank’s permit.
3. Gold business organizations and individuals which have gold-processing contracts with a foreign country(ies) shall be permitted by the State Bank to import raw material gold on condition that their products must be re-exported.
4. Enterprises with gold mining licenses shall be considered and permitted by the State Bank to export raw material gold.
Article 13.- Gold import and export by foreign-invested enterprises
Annually, the State Bank shall base itself on the concerned foreign-invested enterprises’ production capacity and demands to import raw material gold and export gold jewelry and fine art items to consider and grant gold import and export quotas to these enterprises. Foreign-invested enterprises shall not have to apply for permits for import or export of gold in separate shipments.
Article 14.- Individuals carrying gold upon entry and exit
Upon entry and exit, Vietnamese individuals and foreigners shall be allowed to carry gold according to the State Bank’s regulations.