Client update: Forbiddance to carry pieces of gold when entrance and exit from May 15, 2014

On March 28, 2014, the State Bank of Vietnam issued Circular 11/2014/TT-NHNN stipulates individual to carry pieces of gold when entrance and exit. That is, individuals to be allowed to carry pieces of goal, raw gold if entrance or exit for permanent settlement.

According to the Circular, both Vietnamese and foreign individuals entrance and exit through the border gate by passport or laissez-passer are not permitted to carry pieces of gold, raw gold except gold jewelry and fine art with the tight conditions. When entrance and exit by passports, individuals must be declared to the Custom if accompanying with the weight of gold jewelry and fine art from 300 grams; travelling by laissez-passer through the border, individual wearing gold jewelry also needs to be declared if the weight of around of 300 grams or more.

The Circular will take effective from May 15, replacing Decision No 1165/2001 of the Governor of the State Bank of Vietnam. Under the current regulations, individuals allow to carry pieces of gold and raw gold by passport, the weight limit must be declared to the Custom from 300 grams to 01 kg or more, whereas, who entering and exiting by laissez-passer are being prohibited to carry pieces of gold, raw gold, and fine arts.

For more information about the Circular, please contact with us via email: hanoi@pham.com.vn