Regulations on cash declaration when exiting

Hello FDVN, my name is Huong. I want to travel from Vietnam to Europe for vacation, I want to ask if I bring cash about 100,000,000 VND, do I have to declare at the border gate Customs on exit and what are the documents I need for the declaration?

FDVN’s opinion:

Sincerely thank you for concerning our legal consulting service. We are glad to give you our advice on your question.

[1]. Do you have to declare at the Customs when bringing the cash on exit?

Under the guidance of Section 1 of Official Letter No. 6692/TCHQ-GSQL, dated December 30, 2011, of the General Department of Customs, regarding the implementation of Circular No. 15/2011/TT-NHNN:

"1. Individuals carrying foreign currencies in cash, Vietnamese dong in cash when entering or leaving Vietnam through Vietnamese border gates:
a) Individuals upon exit and entry through Vietnam's international border gates include international border gates, international air routes, international sea routes and international river routes of Vietnam by passports and other valuable papers in lieu of passports issued by competent Vietnamese or foreign agencies carrying cash in foreign currencies or cash in Vietnam Dong shall comply with the provisions of Circular No. 15 / 2011 / TT-NHNN dated August 12, 2011, of the State Bank of Vietnam regulating the carrying of foreign currency cash, Vietnam dong on cash on entry and exit. ”

Referring to provisions in Article 2 of Circular No. 15/2011/TT-NHNN, Aug 12th, 2011 Providing for the carrying of cash in foreign currency, Vietnamese dong by individuals upon entry into and exit:

“1. Individuals carry foreign currency, Vietnamese dong in cash, upon entry into or exit from the country with passport through international border gates of Vietnam, in excess of the following amount shall be required to declare to the border Customs:

a. USD 5,000 (Five thousand United States dollars) or other foreign currencies of the same value;

b. VND 15,000,000 (Fifteen million Vietnamese Dong).

3. Amount of foreign currency and Vietnamese dong in cash required to be declared at the border gate Customs as stipulated in Paragraph 1 of this Article shall not be applied to the individuals who carry means of payment, valuable papers in foreign currency or in Vietnamese dong such as traveler’s cheques, bank card, savings book, securities, and other valuable papers.”

According to the Information provided, when exiting through Vietnam's international border gates, you bring VND 100,000,000 (over VND 15,000,000). Thus, you must declare at the border.

[2]. Documents to prepare for the declaration:

According to Article 3, Circular No. 15/2011 / TT-NHNN, you have to prepare the documents as below:

"a. Confirmation of carrying foreign currency, Vietnamese dong in cash abroad (hereinafter shortly referred to as Confirmation) issued by an authorized credit institution in accordance with current provisions of laws on foreign exchange control; or

b. Written approval to the carrying of foreign currency, Vietnamese dong in cash abroad by individual issued by the State Bank of Vietnam."

[3]. In case you fail to declare or to correctly declare the amount of cash in foreign currencies, cash in Vietnamese currency:

a) A fine of from VND 1,000,000 to VND 3,000,000 shall be imposed if the exhibited value is from VND 5,000,000 to under VND 30,000,000;

b) A fine of from VND 5,000,000 to VND 15,000,000 shall be imposed if the exhibited value is from VND 30,000,000 to under VND 70,000,000;

c) A fine of from VND 15,000,000 to VND 25,000,000 shall be imposed if the exhibited value is from VND 70,000,000 to under VND 100,000,000;

d) A fine of from VND 30,000,000 to VND 50,000,000 shall be imposed if the exhibited value is VND 100,000,000 or above but the violation does not constitute a criminal offense.

Above are the advice of FDVN Limited Law Firm base on studying law provisions and theories. We hope that our opinions would be useful.

Nguyen Thi Suong

FDVN Law Firm

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