Chương 6 Nghị định 24/2000/NĐ-CP: Quản lý ngoại hối

Chapter VI

FOREIGN EXCHANGE MANAGEMENT

Article 66.- Opening of accounts

Foreign-invested enterprises and foreign business cooperation parties are entitled to open foreign-currency accounts and Vietnam dong accounts at banks licensed to operate in Vietnam.

In special cases, for a number of projects with urgent demand, foreign-invested enterprises may open accounts at banks overseas after they obtain the approval of the Vietnam State Bank. The enterprises shall have to report to the Vietnam State Bank on the situation on the use of accounts opened abroad. The opening, use and closure of accounts of enterprises shall comply with the regulations of the Vietnam State Bank.

Article 67.- Regulation on ensuring foreign currencies

1. Foreign-invested enterprises and foreign business cooperation parties are entitled to buy foreign currency(ies) at commercial banks licensed to deal in foreign currencies so as to meet the current transactions and other licensed dealings according to legislation on foreign exchange management.

2. For particularly important projects with investment made under the Government’s programs in each period, the Prime Minister shall decide the balance of foreign currency(ies) for foreign-invested enterprises and foreign business cooperation parties, which is specified in the investment licenses.

3. The Vietnamese Government ensures the support in balancing foreign currency(ies) for foreign-invested enterprises and business cooperation parties that invest in infrastructure construction and a number of other important projects in cases where the commercial banks fail to fully satisfy the foreign currency demands stated in Clause 1 of this Article.

Article 68.- Transfer of revenues abroad by foreign investors

1. After fulfilling their tax obligations, foreign investors may transfer abroad:

a) Profits earned from business activities, revenues divided to them;

b) Revenues from service provision and technology transfer;

c) Principals and interests of foreign loans;

d) Investment capital;

e) Other money amounts and assets under their lawful ownership.

2. Upon the termination of operation and dissolution of their enterprises, foreign investors are entitled to transfer abroad the assets under their lawful ownership.

3. Where the amount transferred abroad as provided for in Clause 2 of this Article is larger than the initial capital and reinvestment capital, the difference thereof shall be transferred abroad only after it is approved by the investment licensing body.

Article 69.- Transfer of foreigners’ incomes abroad

Foreigners working in the foreign-invested enterprises or under the business cooperation contracts shall be entitled to transfer abroad their salaries and other lawful incomes in foreign currency(ies) after having paid the income tax and other expenses.

Article 70.- Exchange rates

The rates for conversion of foreign currencies into Vietnamese currency and vice versa applicable in the process of investment, production and business of foreign-invested enterprises and business cooperation parties shall comply with the regulations of the Vietnam State Bank at the time of conversion.