On January 19, 2023, the Governor of the State Bank of Vietnam (SBV) issued Decision No. 109/QD-NHNN announcing a number of amendments and supplementations to the administrative procedures related to the foreign exchange operations, which are performed at the Single Window under the SBV’s jurisdiction.
Specifically, the administrative procedures to be amended and supplemented, which are implemented at the SBV and the SBV provincial and municipal branches, include:
“The procedures for applying for a business license to buy and sell gold bullions applicable to an enterprise”;
“The procedures for applying for a business license to buy and sell gold bullions applicable to a credit institution”;
“The procedures for the approval of a direct receipt of payment in a foreign currency by an economic organization”;
“The procedures for the approval of a change or a supplementation to the direct receipt or payment in a foreign currency by an economic organization”;
“The procedures for the approval of an extension to the direct receipt or payment in a foreign currency by an economic organization”;
“The procedures for the authorization to be registered to act as an agent for payments in foreign currencies by a credit institution or an economic organization”;
“The procedures for the approval of a change or an addition to the agency registration of foreign currency payments by a credit institution or an economic organization”;
“The procedures for the approval of an extension of the agency registration of foreign currency payments by a credit institution or an economic organization”;
“The procedures for applying for a certificate of eligibility for gold jewelry and handicraft production”;
“The procedures for an amendment to the certificate of eligibility for gold jewelry and handicraft production”;
“The procedures for granting a license for a temporary import of material gold for re-export for the enterprises that have signed contracts for processing gold jewelry and handicraft products with foreign partners”;
“The procedures for applying for a license to import material gold for enterprises engaged in the production of gold jewelry and handicraft products”;
“The procedures for confirming registration of foreign exchange transactions related to overseas investment activities for investors who are not credit institutions”;
“The procedures for confirming a change in the registration of foreign exchange transactions related to overseas investment activities for investors who are not credit institutions”.
The above-mentioned amendments and supplementations of administrative procedures are implemented in line with Circular No. 24/2022/TT-NHNN dated December 30, 2022 of the SBV Governor amending and supplementing a number of Articles of Circulars providing for the administrative procedures in the field of foreign exchange management.
Decision No. 109/QD-NHNN takes effect from February 15, 2023 and shall abolish Decision No. 1529/QD-NHNN dated July 20, 2017 of the SBV Governor announcing new administrative procedures and replacements to existing administrative procedures under the SBV’s jurisdiction.
LK