Hanoi, 19 October 2015: Translation Update Service Since 1 April, 1999

Translation update service
since 1 April, 1999
STATE BANK OF SOCIALIST REPUBLIC OF VIETNAM

VIETNAM Independence – Freedom - Happiness
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No: 16/2015/TT-NHNN Hanoi, 19 October 2015
CIRCULAR
On amendment of, supplement to several Articles of the Circular No. 32/2013/TT-
NHNN dated 26/12/2013 of the Governor of the State Bank on
guiding the implementation of regulations on restricting the use of
foreign exchanges within the territory of Vietnam
-----------------------------
- Pursuant to the Law on the State Bank of Vietnam No.46/2010/QH12 dated 16 June
2010;
- Pursuant to the Law on the Credit Institutions No.47/2010/QH12 dated 16 June

2010;
- Pursuant to the Ordinance on foreign exchanges No. 28/2005/PL-UBTVQH11

dated 13 December 2005 and the Ordinance on the amendment of, supplement to
several Articles of the Ordinance on foreign exchanges No. 06/2013/PL-
UBTVQH13 dated 18 March 2013;
- Pursuant to the Decree No.156/2013/ND-CP dated 11 November 2013 of

Government providing for the function, duty, authority and organizational structure
of the State Bank of Vietnam;
- Upon the proposal of the Director of Foreign Exchange Control Department;
The Governor of the State Bank of Vietnam hereby issues the Circular on amendment of,
supplement to several Articles of the Circular No. 32/2013/TT-NHNN dated 26/12/2013 of
the Governor of the State Bank of Vietnam on guiding the implementation of regulations
on restricting the use of foreign exchanges within the territory of Vietnam.
Article 1. To amend, supplement several Articles of the Circular No. 32/2013/TT-

NHNN:
______________________________________________________________________________________________________________
© Investment Consultancy Co., Ltd. III-I-16 P 1/3
since 1 April, 1999
1. To amend, supplement Clause 17 of Article 4 as follows:
“17. For the cases concerning national security and defense, oil and gas, and other essential
cases, the institutions may be permitted to use foreign exchange within the territory of
Vietnam after it is considered and approved in writing by the State Bank of Vietnam basing
on the actual situation and necessity of each case as per the application file, sequence,
procedure as prescribed in Article 4a of this Circular.”
2. To supplement with Article 4a as follows:
“Article 4a. Application file, sequence and procedure for approving the use of foreign
exchanges within the territory of Vietnam
1. Principle of preparing and submitting the application file for approval to the use of
foreign exchanges within the territory of Vietnam:
a) The application file shall be prepared in Vietnamese. For the case where the documents
of the file are translated from foreign language, the institution may choose to submit the
documents with confirmation signature of the translator in accordance with laws and
regulations of Vietnam on certification or otherwise submit the documents with
confirmation of its legal representative;
b) If documents of the file are duplicates, the institution may choose to submit the certified
duplicates or duplicates from the original book or duplicates with confirmation of the very
institution on the correctness of the duplicates against the original. Where the institution
submits the documents directly at the State Bank of Vietnam (Foreign Exchange Control
Department) and the duplicates are not certified ones, or duplicates from the original book
or duplicates with confirmation of the institution, then the institution shall be required to
present the original documents for comparison. The person who compares the documents
shall sign on the duplicates and take responsibility for the correctness of the duplicates
against the original.
2. Those who have a demand for using foreign exchanges within the territory of Vietnam in
accordance with provisions in Clause 17 Article 4 of this Circular shall prepare 01 (one) set
of application file for approval to the use of foreign exchanges within the territory of
______________________________________________________________________________________________________________
since 1 April, 1999
Vietnam and send via post service or directly at the State Bank of Vietnam (Foreign
Exchange Control Department). The application shall consist of:
a) An application for approval to the use of foreign exchange within the territory of
Vietnam, which details the necessity for using foreign exchange;
b) Copies of documents proving that the institution is established and operates legally:
Corporate registration certificate or Investment registration certificate or other equivalent
documents as required by laws;
c) Documents proving the demand for foreign exchanges within the territory of Vietnam.
3. If the documents are insufficient, eligible, within 10 (ten) working days from the receipt
of the documents, the State Bank of Vietnam shall issue a document requesting the
institution to supplement to the documents.
Within a period of 45 (forty five) days from the receipt of the full and eligible documents,
the State Bank of Vietnam shall base on the actual situation and necessity of each case to
issue a written approval to the use of foreign exchanges within the territory of Vietnam.
In case of refusal, the State Bank of Vietnam shall give a written notice of the reasons.”
Article 2. Implementation
1. This Circular shall come into effect from 3 December 2015.
2. Chief of State Bank’s Office, Director of Foreign Exchange Control Department, Head
of relevant units of the State Bank of Vietnam, General Manager of State Bank branches in
provinces, cities under the central Government’s management, Chairman of Board of
Directors, Chairman of Board of Members, General Director (Director) of authorized credit
institutions shall be responsible for the implementation of this Circular.
For the Governor of the State Bank

Deputy Governor
NGUYEN THI HONG (Signed and sealed)
______________________________________________________________________________________________________________

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Hanoi, 19 October 2015: Translation Update Service Since 1 April, 1999

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Translation update service

since 1 April, 1999

STATE BANK OF SOCIALIST REPUBLIC OF VIETNAM

- Pursuant to the Law on the Credit Institutions No.47/2010/QH12 dated 16 June

- Pursuant to the Ordinance on foreign exchanges No. 28/2005/PL-UBTVQH11

- Pursuant to the Decree No.156/2013/ND-CP dated 11 November 2013 of

- Upon the proposal of the Director of Foreign Exchange Control Department;

Article 1. To amend, supplement several Articles of the Circular No. 32/2013/TT-

1. To amend, supplement Clause 17 of Article 4 as follows:

2. To supplement with Article 4a as follows:

1. This Circular shall come into effect from 3 December 2015.

For the Governor of the State Bank

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