Decision No. 1165/2001/QD-NHNN dated September 12, 2001 of the State Bank on the carrying of gold by individuals on exit or entry
THE STATE BANK
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Hanoi, September 12, 2001
ON THE CARRYING OF GOLD BY INDIVIDUALS ON EXIT OR ENTRY
THE STATE BANK GOVERNOR
Pursuant to December 12, 1997 Law No. 01/1997/QH10 on the State Bank of Vietnam;
Pursuant to the Government’s Decree No. 63/1998/ND-CP of August 17, 1998 on the foreign exchange management;
Pursuant to the Government’s Decree No. 174/1999/ND-CP of December 9, 1999 on the management of gold business activities;
At the proposal of the director of the Foreign Exchange Management Department,
Article 1.- Subjects and scope of regulation
1. This Decision applies to the carrying of jewelry gold, fine-art gold articles, ingot gold, raw material gold and/or international standard gold by the following subjects on entry or exit:
a/ Vietnamese and foreign individuals who carry gold when they leave or enter Vietnam through Vietnamese border-gates with passports granted by competent Vietnamese or foreign authorities (hereinafter called "individuals on exit or entry");
b/ Vietnamese individuals permitted to settle abroad, who carry gold when leaving the country, or foreign individuals permitted to settle in Vietnam, who carry gold when entering the country;
c/ Vietnamese and foreign individuals who carry gold when leaving or entering Vietnam through Vietnamese border gates with laissez-passers or border identity cards;
2. Vietnamese and foreign individuals must neither send gold abroad nor receive gold sent from abroad in the form of gifts or presents by post, air or sea.
Article 2.- Interpretation of terms
In this Decision, the following phrases are construed as follows:
1. "Jewelry gold" means gold products whether or not set with gemstones, precious metals or other materials to meet the people’s adornment needs, such as rings, necklaces, bracelets, earrings, pins and other kinds.
2. "Fine-art gold articles" mean gold products whether or not set with gemstones, precious metals or other materials to meet the artistic decoration needs, such as picture frames, statues and other kinds.