The legal ownership of gold by entities and individuals are acknowledged and protected in accordance with laws.
Organizations and individuals engaged in the business of gold must comply with the Government’s regulations and other relevant provisions. The SBV, on behalf of the Government, manages gold trading for the aim of developing a stable and sustainable domestic gold market.
- For the gold bullion market:
The State is the sole producer of gold bullions, the sole exporter and importer of raw gold for gold bullions production. The SBV organizes and manages the production of gold bullions; exports and import raw gold for gold bullions productions; purchases and sells gold bullions in the domestic market in accordance with Decisions of the Prime Minister.
Gold bullion trading is a conditional activity licensed by the SBV.
- For gold jewelry market:
Gold jewelry production is a conditional activity under the certificate of eligibility and qualification granted by the SBV.
Gold jewelry trading is a conditional activity without granted certificate of eligibility and qualification of the SBV.
- For the export and import of raw materials for the gold jewelry production:
+ The SBV will consider granting license of importing raw gold materials to produce gold jewelry for those enterprises including: the enterprises with the certificate of eligibility and qualification granted by the SBV; the enterprises with foreign investment; the enterprises investing in gold mining abroad and having demand for importing their mined gold.
+ The SBV will consider allowing the licensed gold mining enterprises to export the raw gold.
+ Gold trading enterprises which have signed gold jewelry processing contracts with foreign enterprises are considered by the SBV to be granted the license of temporary import of raw gold and to re-export finished products.
- The other gold trading are operations under the list of restricted goods and services. Organizations and individuals shall be eligible to operate the other types of gold trading after getting the permission from the Prime Minister and license from the SBV.
- Individuals carrying gold when entering and exiting the country:
+ Individuals who travel with passport are allowed to carry gold jewelry, ornaments. They shall not be permitted to carry gold bars and gold material (except for the settlers).
+ Individuals who travel with other travel documents are not allowed to carry raw gold, gold bullion, gold jewelery (excluding jewelry for personal use).
+ In case of settling in Vietnam: Foreign individuals who are allowed to settle in Vietnam and Vietnamese individuals who are allowed to settle in other countries are allowed to carry raw gold, gold bars, gold jewelry when entering and leaving Vietnam.
The SBV have a rights and obligations to conduct the inspection and supervision of the production of gold jewelry; gold bullion and jewelery trading; the export and import of raw gold and other gold trading.
