THE MINISTRY OF FINANCE

Circular No. 92/2013/TT-BTC dated July 8, 2013 of the Ministry of Finance defining the financial management regime of the Fund for Assisting Overseas Vietnamese Citizens and Legal Entities
Pursuant to the Decree No. 60/2003/ND-CP dated June 06, 2003 detailing and guiding the implementation of the State Budget law;
Pursuant to the Decree No. 118/2008/ND-CP dated November 27, 2008 defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
Pursuant to the Decision No. 119/2007/QD-TTg dated July 25, 2007 of the Prime Minister on setting up the Fund for Assisting Overseas Vietnamese Citizens and Legal Entities;
At the proposal of the Director of the Department of Public Expenditure;
The Minister of Finance promulgates the Circular defining the financial management regime of the Fund for Assisting Overseas Vietnamese Citizens and Legal Entities.
Article 1. Scope of application
This Circular regulates the financial management of the Fund for Assisting Overseas Vietnamese Citizens and Legal Entities (below referred to as Citizen Assistance Fund for short)established by the Prime Minister under the Decision No. 119/2007/QD-TTg dated July 25, 2007.  The international transaction name is the Fund for Assisting Overseas Vietnamese Citizens and Legal Entities – abbreviated to FAOV).
Vietnamese citizens who permanently reside in foreign countries or territories and have paid insurance premiums in those countries or territories are not in the scope of application under this Circular.
Article 2. Operating principles of the Fund
1. The Citizen Assistance Fund is operated not for profit. The Citizen Assistance Fund has the legal entity, account and its own seal and. The Fund opens its account in Vietnamese dong and foreign currency at the State Treasury or at the domestic commercial banks as stipulated under Article 2 of the Decision No. 119/2007/QD-TTg dated July 25, 2007 of the Prime Minister.
2. Vietnamese overseas representative agencies coordinate with the board of directors and the Fund’s office to implement the citizen assistance activities as stipulated under the Regulation “organization and operation of the Fund for Assisting Overseas Vietnamese Citizens and Legal Entities” issued by the Ministry of Foreign Affairs.
Article 3. Collecting source of the Citizen Assistance Fund
1. The original capital source of the Citizen Assistance Fund granted by the State Budget is twenty billion dong; the additional capital supplemented by the State Budget annually shall be based on the estimation approved by the relevant authorities.
2. Cash and assets are voluntarily contributed and funded by domestic and foreign organizations and individuals in accordance with the law.