On December 30, 2022, the State Bank of Vietnam issued Circular 20/2022/TT-NHNN guiding one-way money transfer abroad from Viet Nam and payments, remittances for other current transactions of residents being organizations and individuals. This Circular takes effect from February 15, 2023 with some highlights related to money transfer by residents being organizations as follows:
(i) Regulating two cases of purchasing, transfering, taking foreign currency abroad for organizations’ purpose of one-way money transfer;
(ii) Regulating the limit of foreign currency purchased, transferred and taken abroad;
(iii) Regulating the payment and money transfer for other current transactions.
Some outstanding points on one-way money transfer abroad from Viet Nam by residents being organizations
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