Legal advice on changing VND to USD and transfering money to account in a foreign bank  

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transfering money to account in a foreign bank  

Client: Dear Lawyers: I have one question and hope to get your advice.

By Vietnamese regulation, In what situation, a Vietnamese can change his or her VND to USD and transfer the money to an account in an US bank?

Lawyer:  Under Vietnam Law, under following circumstances, a Vietnamese can change his or her VND into foreign currency and transfer money to account in a foreign bank:

– Making payment for import of goods from foreign countries into Vietnam;

– For conducting individual transactions made in foreign countries including tourist, purchasing goods, study or financing members of family.

– Making payment of offshore loan.

– For investment in foreign country.

We do hope that the above information is helpful for you. If you have any further question, please feel free to contact us.