Vietnam
Foreign Exchange in Vietnam
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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
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Organisations that can assist with Foreign Exchange
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> OKX
With OKX, an established crypto exchange, you can buy, hold, and exchange a large selection of cryptocurrencies.
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> Money Transfer Comparison
Money Transfer Comparison reviews and rates money transfer service providers. Up to date it has reviewed more than 30 different companies.
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> Currensea
Wave goodbye the international payment fees. Zero fees. Zero hassle.