Takes effect on December 03, 2015, the Circular No. 16/2015/TT-NHNN dated October 19, 2015 of the State Bank of Vietnam amending, supplementing a number of articles of the Circular No. 32/2013/TT-NHNN dated December 26, 2013 of the State Bank Governor guiding the implementation of regulations on restricting the use of foreign exchange within the territory of Vietnam, allow the cases related to security, national defense, oil and other necessary cases, organizations that are allowed to use foreign exchange in the territory of Vietnam will be considered and approved in writing by the State Bank Governor to use of foreign exchange within the territory of Vietnam.
Organizations that want to use foreign exchange in the territory of Vietnam as stipulated shall prepare an application dossier on approval of using foreign exchange in the territory of Vietnam by post or submit directly at the State Bank of Vietnam and the dossier includes application on approval of using foreign exchange in the territory of
Vietnam, of which clearly mentions necessities of using foreign exchange; copies of papers proving the legal operation of the organization; business registration certificate or investment registration certificate or other equivalent papers; dossiers, documents proving necessities of using foreign exchange in the territory of Vietnam.
The documents must be made in Vietnamese. If a part of the documents is translated from foreign languages, the organization shall select to submit documents that are certified with the signature of the translator according to regulations on certification of the Vietnamese law or documents certified by the legal representatives of the organization. Within 45 working days since the full receipt of the valid dossier, the State Bank of Vietnam shall consider and approve on using foreign exchange in the territory of Vietnam based on the actual situations and necessities of each case; if refusal, the State Bank of Vietnam should clearly mention reasons.
Source: luatvietnam.vn
