Chapter II
OPENING OF ACCOUNTS AND USE OF FOREIGN CURRENCIES BY RESIDENTS AND NON-RESIDENTS
Article 5.- Opening foreign currency accounts in the country and using foreign currencies on the residents' accounts
1. Residents being organizations which have sources of foreign currency revenues originated from current transactions, capital transactions and other lawful sources, shall be entitled to open and maintain their foreign currency accounts at the licensed banks and use foreign currency(ies) available on their accounts for the following purposes:
a/ Payment to foreign parties for the import of goods and services;
b/ Payment for goods and services to domestic organizations and individuals that are allowed to collect foreign currency(ies);
c/ Payment of domestic debts in foreign currency(ies) and payment of foreign debts;
d/ Sale to credit institutions licensed to conduct foreign exchange transactions;
e/ Investment in papers of foreign currency value as prescribed by Vietnamese legislation on investment in securities and other valuable papers;
f/ Conversion into payment instruments in foreign currency(ies) as prescribed by law;
g/ Contribution of investment capital as prescribed by the Law on Foreign Investment in Vietnam or investment in other projects as prescribed by law;
h/ Transfer of foreign currency(ies) abroad in accordance with the provisions of the Law on Foreign Investment in Vietnam and other provisions of law;
i/ Transfer of foreign currency(ies) for investment abroad in accordance with Vietnam's legislation on investment abroad;
j/ Withdrawal of foreign currency(ies) in cash, via-account transfer of foreign currency(ies) for payment to individuals who work for the organizations and are sent abroad by such organizations; payment of wages, rewards and allowances to residents and non-residents who are foreigners working for such organizations.
2. Residents being individuals who have foreign currency(ies) transferred from abroad via banks or bring foreign currency(ies) into Vietnam with the border-gate customs' certification and have other lawful sources of foreign currency revenue in Vietnam, shall be entitled to open and maintain foreign currency accounts at the licensed banks and to use the foreign currency(ies) available on such accounts for the following purposes:
a/ Payment for goods and services provided by foreign organizations and/or individuals in accordance with the provisions of law;
b/ Payment for goods and services provided by domestic organizations and/or individuals that are allowed to collect foreign currency(ies);
c/ Transfer abroad for purposes prescribed in Article 14 of this Decree;
d/ Sale to credit institutions licensed to conduct foreign exchange transactions;
e/ Withdrawal of foreign currency(ies) in cash for the purposes prescribed by law;
f/ Investment in papers of foreign currency value in accordance with Vietnamese legislation on investment in securities and other valuable papers;
g/ Conversion into other payment instruments in foreign currency(ies) as prescribed by law;
h/ Donation, presentation, and inheritance as prescribed by law;
i/ Residents being foreigners shall be allowed to transfer abroad the amount of foreign currency(ies) available on their foreign currency accounts in accordance with Vietnamese legislation on the foreign exchange management.
3. Residents being individuals with foreign currency(ies) shall be entitled to deposit such foreign currency(ies) as savings at the licensed banks, to enjoy interests in foreign currency(ies) according to the interest rate regime set for foreign currency savings, and to withdraw both the savings' principal and interests in foreign currency(ies).
Article 6.- Opening non-residents' foreign currency accounts in the country and using foreign currency(ies) thereon
Non-residents having foreign currency(ies) transferred from abroad into Vietnam via banks, bringing along foreign currency(ies) when entering Vietnam with the border-gate customs' certification or having other lawful sources of foreign currency revenue in Vietnam shall be entitled to open and maintain foreign currency accounts (hereafter referred to as non-residents' foreign currency accounts) at the licensed banks and use such foreign currency(ies) available on their accounts for the following purposes:
1. Payment for goods and services provided by foreign organizations and/or individuals;
2. Payment for goods and services provided by domestic organizations and/or individuals, that are allowed to collect foreign currency(ies);
3. Sale to credit institutions licensed to cary out foreign exchange transactions;
4. Conversion into payment instruments in foreign currency(ies) as prescribed by law;
5. Transfer abroad;
6. Withdrawal of foreign currency(ies) in cash, via-account transfer for payment to individuals who work for organizations when they are sent abroad by such organizations, payment of wages, rewards and allowances to residents and non-residents who are foreigners working for non-residents' organizations;
7. Withdrawal of foreign currency(ies) in cash for other purposes as prescribed by law;
8. Transfer to the foreign currency account of another non-resident;
9. Donation, presentation and inheritance as prescribed by law.
Article 7.- Individuals' right to use foreign currency(ies)
On the Vietnamese territory, residents or non-residents being individuals who have foreign currency(ies) shall be entitled to keep, bring along or deposit at banks and use foreign currency(ies) in accordance with the provisions of Clauses 2 and 3, Articles 5 and 6 of this Decree or sell to credit institutions and/or foreign exchange desks licensed to conduct foreign exchange transactions, based on their voluntariness.
Article 8.- Opening non-residents' Vietnam dong accounts in the country and using Vietnam dong available thereon
Non-residents being organizations or individuals that have Vietnam dong originated from foreign currency(ies) and other lawful sources of revenue in Vietnam dong shall be entitled to open and maintain Vietnam dong accounts (hereafter referred to as non-residents' Vietnam dong accounts) at banks and to use the amount of Vietnam dong available on their accounts for the following purposes:
1. Payment for goods and services provided by domestic organizations and/or individuals;
2. Purchase of foreign currency(ies) and transfer thereof abroad in accordance with the provisions of law;
3. Withdrawal of Vietnam dong in cash for spending in Vietnam;
4. Transfer to other residents' and non-residents' Vietnam dong accounts;
5. Donation, presentation and inheritance as prescribed by law.
Article 9.- Opening and using residents' overseas accounts
1. Residents being Vietnamese economic organizations, foreign-invested enterprises operating under the Law on Foreign Investment in Vietnam, or credit institutions in Vietnam shall be granted permits for the opening and use of overseas accounts, provided that they operate and do business in the following fields and within the following scopes:
a/ Conducting international business activities in the fields of aviation, navigation, post, insurance, tourism, labor export and construction of overseas projects;
b/ Receiving foreign loans and paying foreign debts;
c/ Being allowed by the competent agency to open overseas branches or representative offices;
d/ Being allowed to conduct foreign exchange transactions abroad;
e/ Other cases permitted by the Prime Minister.
2. Residents being Vietnamese State agencies, armed forces units, political organizations, socio-political organizations, social organizations, socio-professional organizations, social funds and charity funds operating in Vietnam shall be granted permits for the opening and use of overseas foreign currency accounts, provided that they operate in the following fields and within the following scopes:
a/ Receiving foreign loans and paying foreign debts for the Government;
b/ Receiving foreign aids;
c/ Other cases permitted by the Prime Minister.
3. Residents stipulated in Clauses 1 and 2 of this Article shall be allowed to open overseas accounts and have to report to the State Bank on the use of their overseas accounts. The opening, use and closure of overseas accounts of these subjects must comply with the prescriptions of the permits.
4. Residents being Vietnamese diplomatic missions, consulates, representations of the armed forces, political organizations, socio-political organizations, social organizations, socio-professional organizations, social funds and charity funds or Vietnamese citizens, while abroad, shall be entitled to open and use overseas foreign currency accounts in accordance with the provisions of laws of the concerned countries. Upon the termination of their operation or expiry of their stay abroad, they shall have to close such accounts and transfer all the accounts' balance back home. In case of a need to keep such balance abroad, the provisions of Vietnamese law shall apply.
Article 10.- Management of the opening and use of accounts in the country and abroad
1. The State Bank shall prescribe conditions and procedures for the opening, use and closure of residents' and non-residents' foreign currency accounts in the country as well as conditions and procedures for the opening, use and closure of non-residents' Vietnam dong accounts in the country.
2. The State Bank shall prescribe conditions and procedures for the issue and withdrawal of permits for the opening of residents' overseas accounts as mentioned in Clauses 1 and 2, Article 9 of this Decree.
3. Banks shall have to open books to monitor and balance residents' and non-residents' foreign currency accounts as well as non-residents' Vietnam dong accounts in accordance with the stipulations of the State Bank.
When opening accounts for their customers and satisfying the account holders' demands, the banks shall all have to comply with the provisions of this Decree and other provisions of law.
Tìm kiếm
Nghị định 63/1998/NĐ-CP (Bản Word)