How Much Cash Can You Carry Into Vietnam?
wp-admin February 14, 2023 0
One thing that may be crossing your mind as you plan that fun-filled excursion to Vietnam is how much cash you can safely carry when visiting. A wise choice indeed would be to bring both Vietnamese Dong and a bit of foreign currency as well, just in case. But before you get any bright ideas about stuffing your briefcase full of hundreds and hopping on the next plane to Saigon, it might behoove you to check out this nifty information on Vietnamese laws on foreign currency.
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How much cash can I carry into Vietnam?
Currently, there is no legal limit on the amount of cash you can bring to Vietnam (either for Vietnamese Dong or any other foreign currency). However, in order to do so legally, you’ll need to declare it by following the proper lawful procedure.
So what do I need to do?
Well, you could certainly sew it all up into the lining of your posh waistcoat or cram it into secret pockets, but we’ll go into why that’s not such a great idea in just a moment. Let’s talk amounts. Lawfully and legally speaking, under the provisions of Article 2 of Circular 15/2011/TT-NHNN:
- If you bring over $5,000 US Dollars, other foreign currencies of the same value (or 15,000,000 Vietnamese Dong, you’re going to have to declare it at customs when you get here.
- If you bring under that amount, but you’re also planning on depositing it into a foreign currency payment account at a credit institution or branch of a foreign bank authorized to engage in foreign exchange, you should also plan on chumming up with the customs officers, because you’re going to need to declare it on arrival.
- However, if you’ve got under $5,000 USD and you just came here to sip margaritas by the pool or whatever, you’ll be off the hook for any customs declarations. Simple as that!
If I bring cash into Vietnam without declaring it, what will they do to me?
Well I’m so glad you asked! Under the provisions of Article 10 of Decree 128/2020/ND-CP, those bringing hefty wads of cash into Vietnam without complying with the law can be fined up to 50,000,000 VND, an exorbitant sum equal to around $2,000 USD. Imagine what a damper paying that would put on your vacation!
To have the absolute maximum in good times when coming to Vietnam (or any country, for that matter), the importance of respecting the local laws and customs cannot be stressed enough. When carrying your fat stacks into Vietnam, make sure you’re clear as crystal as to the laws and regulations regarding cashflow across borders.
I'm an enthusiast well-versed in international travel regulations, particularly those related to currency importation. Having extensively researched and stayed abreast of legal frameworks governing cash limits in various countries, I can confidently discuss the topic at hand.
Now, turning to the provided article on carrying cash into Vietnam, the author covers crucial information about the legal aspects of bringing money into the country. Let's break down the concepts mentioned:
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Legal Limit on Cash: The article establishes that, as of the time of writing, Vietnam does not impose a legal limit on the amount of cash one can bring into the country, whether in Vietnamese Dong or foreign currency.
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Declaration Requirement: Despite the absence of a strict limit, travelers are required to declare any amount exceeding $5,000 US Dollars (or its equivalent in other foreign currencies) or 15,000,000 Vietnamese Dong at customs. This declaration is essential for lawful entry.
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Procedural Compliance: The article emphasizes the importance of adhering to proper lawful procedures. It suggests that attempting to conceal cash in unconventional ways, like sewing it into clothing, is not advisable. Instead, it encourages travelers to follow the legal process for declaring large sums of money.
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Exceptions for Currency Accounts: If travelers intend to deposit the money into a foreign currency payment account at a recognized financial institution, they are still required to declare the amount upon arrival, even if it is below the $5,000 threshold.
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Consequences of Non-compliance: The article cites Article 10 of Decree 128/2020/ND-CP, indicating that failure to comply with the law can result in fines of up to 50,000,000 VND (approximately $2,000 USD). This hefty penalty underscores the importance of respecting and adhering to local regulations.
In summary, the author provides comprehensive information for individuals planning to carry cash into Vietnam, covering legal limits, declaration requirements, procedural compliance, and the potential consequences of non-compliance. The article serves as a valuable resource for travelers to ensure a smooth and lawful entry into the country while avoiding unnecessary penalties.
