THE PRESIDENT

Order No. 01/2013/L-CTN of March 29, 2013, on the promulgation of ordinance

THE PRESIDENT OF THE SOCIALIST REPUBLIC OF VIETNAM

Pursuant to Articles 103 and 106 of the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 of December 25, 2001, of the X^th National Assembly, the 10th session;

Pursuant to Article 19 of the Law on Organization of the National Assembly;

Pursuant to Article 57 of the Law on Promulgation of Legal Documents,

PROMULGATES:

The Ordinance Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange,

which was passed on March 18, 2013, by the Standing Committee of the XIII^th National Assembly of the Socialist Republic of Vietnam.

President of the Socialist Republic of Vietnam
TRUONG TAN SANG

Ordinance Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange

(No. 06/2013/UBTVQH13)

Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10;

Pursuant to the National Assembly’s Resolution No. 07/2011/QH13, on the 2012 law- and ordinance-making program and adjustment of the 2011 law- and ordinance-making program;

The National Assembly Standing Committee promulgates the Ordinance Amending and Supplementing a Number of Articles of Ordinance No. 28/2005/PL-UBTVQH11 on Foreign Exchange.

Article 1.

To amend and supplement a number of articles of the Ordinance on Foreign Exchange:

1. To amend and supplement Clauses 2, 4, 6, 7, 11, 12 and 13, Article 4; to add Clause 20 to Article 4 as follows:

“2. Residents means organizations or individuals that are:

a/ Credit institutions or foreign bank branches established and operating in Vietnam in accordance with the Law on Credit Institutions;

b/ Economic organizations other than credit institutions established and conducting business operations in Vietnam (below referred to as economic organizations);

c/ Vietnamese state agencies, armed forces units, political organizations, socio-political organizations, socio-political-professional organizations, social organizations, socio-professional organizations, social funds and charity funds operating in Vietnam;

d/ Foreign-based representative offices of organizations defined at Points a, b and c of this Clause;

dd/ Foreign-based Vietnamese diplomatic missions, consular offices and representative offices at international organizations;

e/ Vietnamese citizens residing in Vietnam; Vietnamese citizens residing overseas for less than 12 months; Vietnamese citizens working for organizations defined at Points d and dd of this Clause and their accompanying individuals;

g/ Vietnamese citizens going abroad for tourism, study, medical treatment or visit;

h/ Foreigners allowed to reside in Vietnam for 12 months or more. Those who come to Vietnam for study, medical treatment, tourism or work for Vietnam-based foreign diplomatic missions, consular offices or representative offices of international organizations or foreign organizations for any terms are regarded as non-residents.

i/ Vietnam-based branches of foreign economic organizations and forms of presence in Vietnam of foreign parties involved in investment activities in accordance with the investment law, and Vietnam-based executive offices of foreign contractors.”

“4. Capital transactions means capital transfer transactions between residents and non-residents in the following activities: