NewsCase StudiesEvents

Foreign Exchange in Vietnam

Vietnam

Foreign Exchange in Vietnam

Recent forum posts

 

  1. Starting a new business in India

    I run a UK business and my fellow Director is an Indian National (I am a British citizen).We now want to launch our company in India and I am struggling to make any progress with the Indian High Commission. Can anyone help me with the process. I have twice visited the commission in London and wasted hours of time due to their complete lack of organisation.I will appreciate any help to make

    Total Posts: 9 Last post by Mohammed020

  2. starting a business

    Hi There!I was looking to bring in a skincare range from America to sell in UK, what legal procedures do I need to abide by? ie. licensinglaws, testing etc

    Total Posts: 6 Last post by Jpm

Vietnam Foreign Exchange

The State Bank of Vietnam ( SBV) imposes strict controls on foreign exchange transactions.

You must get foreign currency convertibility rights from SBV as early as possible. Convertibility rights are normally part of the investment licence so are given to companies operating in specific import substitute and other ‘important’ industries. Convertibility rights don’t guarantee availability of foreign exchange.

Foreign currency is allowed out of Vietnam only when:

  • Needed for payment for goods and services by an importer with an import license and other supporting import documents (ie purchase contract, invoice, customs declaration form etc)
  • Remittance of dividends has been cleared by Vietnamese tax authorities
  • Repaying foreign loans and interest
  • Paying salaries, bonuses and allowances to expatriate employees

Click here to Ask an Expert about Foreign Exchange in Vietnam

Organisations that can assist with Foreign Exchange

  • > Money Transfer Comparison

    Money Transfer Comparison reviews and rates money transfer service providers. Up to date it has reviewed more than 30 different companies.

    More Details Visit Website
  • > XE Money Transfer

    At XE, we live currencies. We provide a comprehensive range of currency services and products, including quick, easy, secure Money Transfers for individuals and businesses.

    More Details Visit Website
  • > Currensea

    Wave goodbye the international payment fees. Zero fees. Zero hassle.

    More Details Visit Website

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.