THE STATE BANK OF VIETNAM
No. 16/2014/TT-NHNN
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
Hanoi, August 1, 2014
 
 
CIRCULAR
Guiding the use of foreign currency and Vietnam dong accounts of residents and non-residents at licensed banks
Pursuant to June 16, 2010 Law No. 46/2010/QH12 on the State Bank of Vietnam;
Pursuant to June 16, 2010 Law No. 47/2010/QH12 on Credit Institutions;
Pursuant to December 13, 2005 Ordinance No. 28/2005/PL-UBTVQH11 on Foreign Exchange; and March 18, 2013 Ordinance No. 06/2013/UBTVQH13 Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange;
Pursuant to the Government’s Decree No. 156/2013/ND-CP of November 11, 2013, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of the Foreign Exchange Management Department;
The Governor of the State Bank of Vietnam promulgates the Circular guiding the use of foreign currency and Vietnam dong accounts of residents and non-residents at licensed banks.
Article 1. Scope of regulation
1. This Circular guides the use of foreign currency payment accounts (below referred to as foreign currency accounts) and Vietnam dong payment accounts (below referred to as Vietnam dong accounts) at licensed banks, including:
a/ Foreign currency accounts of resident and non-resident organizations and individuals;
b/ Vietnam dong accounts of non-resident organizations and individuals and resident foreigners.
2. The use of payment accounts in the following cases must comply with other relevant regulations of the State Bank of Vietnam:
a/ Foreign currency and Vietnam dong accounts for capital transactions;
b/ Special-use foreign currency accounts;
c/ Accounts in currencies of countries bordering on Vietnam.
3. Other contents related to foreign currency and Vietnam dong accounts must comply with relevant laws.
Article 2. Subjects of application
1. Commercial banks and foreign bank branches licensed for foreign exchange business and services (below referred to as licensed banks).
2. Licensed banks and non-bank credit institutions licensed for foreign exchange business and services (below referred to as licensed credit institutions).
3. Resident and non-resident organizations and individuals that use foreign currency accounts at licensed banks.
4. Non-resident organizations and individuals and resident foreigners that use Vietnam dong accounts at licensed banks.

 


[1] Công Báo Nos 771-772 (18/8/2014)