By some different provisions, Circular 11 gives clear, understandable but tight regulations compared to Decision 1165.
On March 28th 2014, State Bank of Vietnam (SBV) published Circular 11/TT-NHNN (Circular 11) regulating individuals bringing gold upon emigration and immigration, takes effect since May 15th 2014 and replaces Decision 1165/QD-NHNN dated September 12th 2001 (Decision number 1165) regulation individuals bringing gold upon emigration and immigration.
Referring to Article 2 of Circular 11, Vietnamese individuals and foreigners are not allowed to bring gold bar, gold materials excluding gold jewelries and gold arts upon emigration and immigration with passport. In case foreigners bringing gold bar and gold materials immigrate to Vietnam, must deposit them at Customs warehouse and carry them in emigration and foreigners shall bear all relevant cost, Vietnamese and foreign individuals in emigration and immigration with passport carrying gold jewelries, gold arts for jewelry shall declare them to Customs authority.
In Customs declaration, Circular 11 also regulates two basic groups of gold with an adjustment, which is: first group consists of gold bar, gold materials; and second group consists of gold jewelry, gold art for jewelry. Meanwhile, Decision 1165 regulated two basic groups of gold: the first one consisted of gold jewelry, gold art, gold bar and gold materials; the second one consisted of gold with international standards.
Compared to Decision 1165, Circular 11 completely forbids bringing gold bar, gold materials upon emigration and immigration. Meanwhile, Decision 1165 allowed individuals to carry gold with international standards and under one kilogram.
For individuals allowed to reside in Vietnam, Circular 11 and Decision 1165 have no significant differences. However, for Vietnamese individuals allowed to reside abroad, Circular 11 regulates more strictly, which is: must declare to Customs authority in case bringing gold of 300 gram to below 1 kilogram, and possesses permission of the branch of SBV in the province, where is their residences, and they also shall declare to Customs authority in case carrying over one kilogram gold abroad.
Meanwhile, Decision 1165 regulated Vietnamese individuals allowed to reside abroad, shall declare to Customs in case bringing jewelry gold, gold art, gold bar, gold materials of above 300 gram upon emigration; individuals carrying gold art, gold bar, gold materials of over 3 kilograms or gold with international standard of over one kilogram must have permission of branch of SBV in the province, cities under the central government, where individuals reside.
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