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STATE BANK OF VIETNAM |
THE SOCIALIST REPUBLIC OF VIETNAM |
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No: 34/2025/TT-NHNN |
Hanoi, October 09, 2025 |
PROVIDING GUIDANCE ON IMPLEMENTATION OF DECREE NO. 24/2012/ND-CP DATED APRIL 3, 2012 OF THE GOVERNMENT ON MANAGEMENT OF GOLD BUSINESS ACTIVITIES AMENDED BY DECREE NO. 232/2025/ND-CP
Pursuant to Law on State Bank of Vietnam No. 46/2010/QH12;
Pursuant to Law on Credit Institutions No. 32/2024/QH15;
Pursuant to Decree No. 24/2012/ND-CP of the Government on management of gold business activities, amended by Decree No. 232/2025/ND-CP;
Pursuant to Decree No. 26/2025/ND-CP of the Government stipulating the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At request of Director General of the Department of Foreign Exchange Management;
The Governor of the State Bank of Vietnam hereby issues a Circular guiding a number of articles of Decree No. 24/2012/ND-CP of the Government on management of gold business activities, amended by Decree 232/2025/ND-CP.
This Circular provides for guidance on the issuance, revision and revocation of Certificates and Licenses to manufacture gold jewelry and goldsmiths’ wares, trade gold bars, manufacture gold bars, import and export gold; the allocation of gold import and export limits; the connection and provision of information of enterprises and credit institutions doing gold business and the reporting regime as prescribed in Decree No. 24/2012/ND-CP of the Government on the management of gold business activities, amended by Decree No. 232/2025/ND-CP (hereinafter referred to as Decree No. 24/2012/ND-CP).
This Circular applies to enterprises and credit institutions doing gold business in Vietnam and relevant organizations and individuals.
APPLICATIONS FOR ISSUANCE/REVISION OF CERTIFICATES FOR ELIGIBILITY TO MANUFACTURE GOLD JEWELRY AND GOLDSMITHS’ WARES; LICENSES TO TRADE GOLD BARS; LICENSES TO MANUFACTURE GOLD BARS
Article 3. Applications for issuance/revision of certificates for eligibility to manufacture gold jewelry and goldsmiths’ wares
1. Applications for issuance of certificates for eligibility to manufacture gold jewelry and goldsmiths’ wares:
a) Application form for revision of certificate for eligibility to manufacture gold jewelry and goldsmiths’ wares using the Form specified in Appendix 01 attached hereto;
b) Documents or papers proving ownership or legal right to use the manufacturing site;
c) Declaration of facilities and equipment necessary for manufacturing gold jewelry and goldsmiths’ wares.
2. Applications for revision of certificates for eligibility manufacture gold jewelry and goldsmiths’ wares:
a) Application form for revision of certificate for eligibility to manufacture gold jewelry and goldsmiths’ wares using the Form specified in Appendix 01 attached hereto;
b) In case making changes to the manufacturing site on the Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares, the application must be accompanied by a document or paper proving the ownership or legal right to use the manufacturing site and a declaration of the facilities and equipment necessary for manufacturing gold jewelry and goldsmiths’ wares at the new address.
Article 4. Applications for issuance of licenses to trade gold bars
1. Application form for issuance of licenses to trade gold bars using Form specified in Appendix 02 attached hereto.
2. List of locations registered as business locations for sale and purchase of gold bars (headquarters, branches, business locations).
3. Certificate of registration of branch operation (for enterprises); document showing the location registered as a business location for sale and purchase of gold bars according to the list in Clause 2 of this Article that has been notified to the competent business registration authority in accordance with law.
4. Confirmation from the tax authority on the amount of tax paid for gold business activities in the previous 2 (two) consecutive years for the enterprise.
Article 5. Applications for issuance/revision of licenses to manufacture gold bars
1. Applications for issuance of licenses to manufacture gold bars:
a) Application form for issuance of licenses to manufacture gold bars using Form specified in Appendix 03 attached hereto;
b) Internal regulations on manufacture of gold bar include basic contents such as: Raw material import process; gold bar manufacturing process; process of supervision of gold bar manufacturing; product quality control process;
c) Documents proving that remedial measures have been completed according to the decision on administrative penalties, petition with implementation deadlines in the inspection conclusions of competent state agencies on gold business activities (if any).
2. Applications for revision of licenses to manufacture gold bars:
a) Application form for revision of licenses to manufacture gold bars using Form specified in Appendix 03 attached hereto;
b) Records and documents proving the changes according to point a of this clause (for enterprises).
APPLICATIONS FOR ISSUANCE/REVISION OF LICENSES TO IMPORT/EXPORT GOLD BARS
Article 6. Applications for issuance/revision of temporary import licenses for gold material to gold trading enterprises that have processing contracts for gold jewelry and goldsmiths’ wares with foreign parties to re-export products
1. Applications for issuance of temporary import licenses for gold material to gold trading enterprises that have processing contracts for gold jewelry and goldsmiths’ wares with foreign parties to re-export products:
a) Application form for issuance of temporary import licenses for gold material to re-export products using Form specified in Appendix 04a attached hereto;
b) Gold jewelry and goldsmiths’ ware processing contract with foreign parties.
c) Report on the import of gold material, manufacture and export of gold jewelry and goldsmiths’ wares of the enterprise within 12 (twelve) months prior to the submission date of the application according to the form in Appendix 05a attached hereto, attached with the list of Customs declarations for temporary import – re-export of gold and the deduction slip printed from the Customs business information system, certified by the enterprise regarding the accuracy of this document according to the form in Appendix 06 attached hereto (if any);
2. Applications for revision of temporary import licenses for gold material to gold trading enterprises that have processing contracts for jewelry and goldsmiths’ wares with foreign parties to re-export products:
a) Application form for revision of temporary import licenses for gold material to re-export products using Form specified in Appendix 04a attached hereto;
b) Gold jewelry and goldsmiths’ ware processing contract with foreign parties or attached appendices related to revision of temporary import licenses for gold material to re-export products;
c) Report on the import of gold material, manufacture and export of gold jewelry and goldsmiths’ wares of the enterprise from the date of issuance of the temporary import licenses for gold material to re-export products to the submission date of the application according to the form in Appendix 05a attached hereto, attached with the list of Customs declarations for temporary import – re-export of gold and the deduction slip printed from the Customs business information system, certified by the enterprise regarding the accuracy of this document according to the form in Appendix 06 attached hereto.
Article 7. Applications for issuance of gold material import licenses to foreign-invested enterprises for manufacturing gold jewelry and goldsmiths’ wares
No later than December 15 of the year preceding the planned year or when there is a need to supplement the import quantity of gold material, foreign-invested enterprises shall submit the application the issuance of a gold material import license. The application includes:
1. Application form for issuance of gold material import license using Form specified in Appendix 04b attached hereto.
2. Investment registration certificate.
3. Gold jewelry and goldsmiths’ ware processing contract with foreign parties.
4. Report on the import/export and consumption of gold material in Vietnamese market within 12 (twelve) months prior to the submission date of the application (for applications for the issuance of gold material import licenses within the planned year) or from the beginning of the year until the submission date of the application (in case of supplementing the imported quantity of gold material) according to the form in Appendix 05a attached hereto, attached with the list of Customs declarations for import – export and the deduction slip printed from the Customs business information system, certified by the enterprise regarding the accuracy of this document according to the form in Appendix 06 attached hereto (if any);
Article 8. Applications for issuance of gold material import licenses to enterprises making outward investment in gold mining
1. Application form for issuance of gold material import license using Form specified in Appendix 07 attached hereto.
2. Investment registration certificate.
3. Documents proving the gold material to be imported is mined by the overseas enterprise or shared according to the overseas gold mining agreement.
4. Report on the mining and import of gold material of the enterprise within 12 (twelve) months prior to the submission date of the application according to the form in Appendix 08 attached hereto, attached with the list of Customs declarations for import of gold and the deduction slip printed from the Customs business information system, certified by the enterprise regarding the accuracy of this document (if any);
Article 9. Applications for issuance of gold material export licenses to enterprises holding licenses to mine gold in Vietnam
1. Application form for issuance of gold material export license using Form specified in Appendix 07 attached hereto.
2. Investment registration certificate.
3. Documents proving the gold material planned for export is mined by the enterprise.
4. Report on the mining and export of gold material of the enterprise within 12 (twelve) months prior to the submission date of the application according to the form in Appendix 08 attached hereto, attached with the list of Customs declarations for export of gold and the deduction slip printed from the Customs business information system, certified by the enterprise regarding the accuracy of this document (if any).
Article 10. Applications for granting quotas for export/import of gold bars, import of gold material for enterprises and commercial banks licensed to manufacture gold bars
Applications for granting quotas for export/import of gold bars, import of gold material for enterprises and commercial banks licensed to manufacture gold bars for the following year:
1. Application form using Form specified in Appendix 09 attached hereto.
2. Report on import/export of gold within 12 (twelve) months prior to the submission date of the application according to the form in Appendix 27 attached hereto (if any).
Article 11. Applications for issuance of gold bar export licenses, gold bar import licenses, or gold material import licenses for enterprises and commercial banks licensed to manufacture gold bars
1. Applications for issuance of gold material export licenses:
a) Application form for issuance of gold bar export license using Form specified in Appendix 10 attached hereto;
b) Documents proving the domestic source of gold bars for export from import, manufacture, or purchase (in case requested by the State Bank of Vietnam).
2. Applications for issuance of gold bar import licenses or gold material import licenses:
a) Application form for issuance of gold bar import license or gold material import license using Form specified in Appendix 10 attached hereto;
b) Plan for using gold bars imported/plan for using gold material imported; report on export/import of gold bars and gold material from the beginning of the year until the application submission date according to the form in Appendix 27 attached hereto (if any).
PROCEDURES FOR ISSUANCE/REVISION OF CERTIFICATES OF ELIGIBILITY TO MANUFACTURE GOLD JEWELRY AND GOLDSMITHS’ WARES; LICENSES TO TRADE GOLD BARS; LICENSES TO MANUFACTURE GOLD BARS; GOLD EXPORT/IMPORT QUOTAS; EXPORT/IMPORT GOLD LICENSES
Article 12. Rules for preparing, submitting, and receiving applications
1. Documents included in the application for issuance/revision of Certificate, License, or quotas in gold business activities prescribed in Chapter II and Chapter III hereof must be signed by the legal representative person or authorized representative person (hereinafter referred to as the “legal representative person”). If documents are signed by authorization, the application must include an authorization letter made in accordance with law.
2. The application for issuance/revision of Certificate, License, or quotas must be prepared in one set in Vietnamese.
3. For documents that are copies, the applicant must provide either a copy issued from the original register, a certified true copy, or a copy accompanied by original copy for comparison. In case the applicant provides a copy accompanied by original copy for comparison, the person conducting the comparison must sign on the copy and be accountable for its accuracy compared to the original copy.
4. Each application must include a list of documents.
5. The application may be submitted:
a) Online via the National Public Service Portal or the National Single-window Portal (if any);
b) Directly at the Single-window Division of the State Bank of Vietnam (SBV) or Single-window Division of the SBV’s Regional Branch (where the enterprise or credit institution places its headquarters);
c) By post;
d) For case of online submission via the National Public Service Portal or the National Single-window Portal (if any), the electronic application (e-application) may use a digital signature in accordance with the laws on online administrative procedures.
Where the National Public Service Portal or the National Single-window Portal encounters a malfunction or error that prevents the reception or exchange of electronic information, the declaration, submission, receipt, return of results, exchange, and response of information shall be carried out by post or directly at the Single-window Division of the SBV or Single-window Division of the SBV’s regional branch.
dd) Documents in the e-application shall be electronic scans from the original/original copy (in PDF format).
6. Within 3 (three) working days from the date of receiving the application for issuance/revision of Certificates, Licenses, and quotas in gold business activities prescribed in Chapter II and Chapter III, the SBV or its Regional Branch shall send a notice confirming the completeness and validity of such application.
7. The result of administrative procedure resolution shall be delivered to organizations via online methods or by post or direct delivery at the Single-window Division of the SBV or its Regional Branch.
Article 13. Procedures for issuance/revision of Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares
1. An enterprise that want to manufacture gold jewellery and goldsmiths’ wares or revise their Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares shall submit an application in accordance with Article 3 and Article 13 hereof to the SBV’s Regional Branch where the headquarters of such enterprise is located.
2. Within 20 (twenty) working days from the date of receiving a complete and valid application as prescribed in Article 3 hereof and the results of the on-site inspection of facilities and equipment serving the manufacture of gold jewelry and goldsmiths’ wares by the enterprise, the Director of the SBV’s Regional Branch shall issue or refuse to issue (with clear reasons) the Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares according to the form in Appendix 11 attached hereto.
3. Within 15 (twenty) working days from the date of receiving a complete and valid application as prescribed in Article 3 hereof, the Director of the SBV’s Regional Branch shall review and issue a Decision on revising the Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares according to the form in Appendix 12 attached hereto. Decision on revising the Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares must always be attached to such Certificate.
4. In the case of changing the headquarters address or the manufacturing site address due to administrative boundary changes, the enterprise is not required to perform procedures to revise their Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares.
Article 14. Procedures for issuance/revision of temporary import licenses for gold material to gold trading enterprises that have processing contracts for gold jewelry and goldsmiths’ wares with foreign parties to re-export products; Procedures for issuance of gold material import licenses to foreign-invested enterprises for manufacturing gold jewelry and goldsmiths’ wares
1. The applicant for issuance/revision of temporary import license for gold material to gold trading enterprises that have processing contracts for gold jewelry and goldsmiths’ wares with foreign parties to re-export products; for issuance of gold material import license to foreign-invested enterprises for manufacturing gold jewelry and goldsmiths’ wares shall submit 01 application as specified in Article 6, Article 7, and Article 12 hereof to the SBV’s regional branch where the applicant’s headquarters is located.
2. Within 10 (ten) working days from the date of receiving a complete and valid application as prescribed in Article 6 hereof, the Director of the SBV’s Regional Branch shall issue or refuse to issue (clearly stating the reason) the temporary import license for gold material to re-export products according to the form in Appendix 13a attached hereto. The validity of the temporary import license for gold material to re-export products shall be determined based on the gold jewelry and goldsmiths’ ware processing contract and shall not exceed 12 months from the date of issuance. The re-export of products must be carried out within the validity of the License. The quantity of gold material imported shall be determined based on the gold jewelry and goldsmiths’ ware processing contract of the enterprise.
3. Within 10 (ten) working days from the date of receiving a complete and valid application as prescribed in Article 6 hereof, the Director of the SBV’s Regional Branch shall issue or refuse to issue (clearly stating the reason) the revised temporary import license for gold material to re-export products according to the form in Appendix 13a attached hereto. The validity of the revised licenses for gold material to re-export products shall be determined based on the gold jewelry and goldsmiths’ ware processing contract or its appendices related to such revision and shall not exceed 12 months from the date of first-time issuance. For adjustment to the quantity of gold material imported, the adjusted quantity shall be determined based on the gold jewelry and goldsmiths’ ware processing contract with foreign parties or its appendices related to the revision of the temporary import licenses for gold material to re-export gold jewelry and goldsmiths’ wares.
4. Within 10 (ten) working days from the date of receiving a complete and valid application as prescribed in Article 7 hereof, the Director of the SBV’s Regional Branch shall issue or refuse to issue (clearly stating the reason) the gold material import license to foreign-invested enterprises for manufacturing gold jewelry and goldsmiths’ wares according to the form in Appendix 13b attached hereto.
Article 15. Procedures for issuance of gold material import licenses to enterprises making outward investment in gold mining; issuance of gold material export licenses to enterprises holding licenses to mine gold in Vietnam
1. Enterprises making outward investment in gold mining that want to import gold material mined by their overseas enterprises and enterprises holding gold mining licenses in Vietnam that want to export gold material mined domestically, shall submit 01 application as prescribed in Articles 8, 9, and 12 hereof to the SBV.
2. Within 15 (fifteen) working days from the date of receiving a complete and valid application as prescribed in Articles 8 and 9 hereof, the SBV shall issue or refuse to issue (clearly stating the reason) the license to enterprises making outward investment in gold mining; gold material export license to enterprises holding licenses to mine gold in Vietnam according to the form in Appendix 14 attached hereto.
Article 16. Procedures for issuance of Licenses to trade gold bars
1. The applicant for issuance of a License to trade gold bars who is enterprise/credit institution shall submit 01 application specified in Article 4 and Article 12 hereof to the SBV.
2. After receiving a complete application, the SBV shall inform its local Regional Branch to inspect the legal documents proving ownership or lawful use rights of the business premises (for enterprises) and the condition of equipment necessary to carry out gold bar trading activities at the registered business location. Within 7 (seven) working days from the date of receiving the notification from the SBV, its Regional Branch shall report the inspection results to the SBV (Foreign Exchange Management Department).
3. Within 20 (twenty) working days from the date of receiving a complete and valid application as prescribed in Article 4 hereof, the SBV shall issue or refuse to issue (clearly stating the reason) a License to trade gold bars according to the form in Appendix 15 attached hereto.
Article 17. Procedures for issuance/revision of Licenses to manufacture gold bars
1. The applicant for issuance of a License to manufacture gold bars who is enterprise/commercial bank shall submit 01 application specified in Article 5 and Article 12 hereof to the SBV.
Within 30 (thirty) working days from the date of receiving a complete and valid application, the SBV shall issue the License to manufacture gold bars to applicant according to the form in Appendix 16 attached hereto or refuse the application (clearly stating the reason).
2. Within 30 (thirty) days from the date that an enterprise or commercial bank changes its name or headquarters address, it must perform procedures to revise its License to manufacture gold bars. The enterprise or commercial bank shall submit 01 application as prescribed in Articles 5 and 12 hereof to the SBV.
Within 20 (twenty) working days from the date of receiving a valid application, the SBV shall issue a Decision on revision of the License to manufacture gold bars of the applicant according to the form in Appendix 16 attached hereto or refuse the application (clearly stating the reason).
3. In the case of changing the headquarters address due to administrative boundary changes, the enterprise is not required to perform procedures to revise their License to manufacture gold bars.
Article 18. Council for developing and adjusting the gold import/export quotas
1. The Council for developing and adjusting the gold import/export quotas (hereinafter referred to as “Quota development council”) is chaired by a Deputy Governor of the SBV. The members of the Council include heads of relevant units affiliated to the SBV: the Foreign Exchange Management Department, the Monetary Policy Department, the Department Forecasting and Statistics – Monetary and Financial Stabilization, and the Credit Institution Management and Supervision Department. The Quota development council operates according to the Regulations issued by the Governor of the SBV.
2. Tasks of the Quota development council: advise the Governor of the SBV (through the Foreign Exchange Management Department) on decisions and adjustments regarding the total quotas for gold bar export, gold bar import, and gold material import; grant and adjustment to the annual quotas for gold bar export, gold bar import, and gold material import for each enterprise and commercial bank as prescribed in Article 11a of Decree No. 24/2012/ND-CP.
Article 19. Development and adjustment to the total gold import/export quotas, annual gold import/export quotas for enterprises and commercial banks specified in Article 11a of Decree No. 24/2012/ND-CP
1. Based on the monetary policy objectives and the gold supply-demand in each period, the scale of the state foreign exchange reserves, and the actual implementation of gold bar export, gold bar import, and gold material import, the SBV shall develop and adjust the total annual quotas for the export of gold bars, import of gold bars, and import of gold material for enterprises and commercial banks as prescribed in Article 11a of Decree No. 24/2012/ND-CP.
2. Based on the total annual quotas specified in Clause 1 of this Article, the SBV shall grant and adjust the annual quota for each enterprise and commercial bank according to their charter capital scale; condition of gold bar export, gold bar import, and gold material import (if any); use condition of gold material imported according to the purpose stated in the Import License and the demand of the enterprise or commercial bank.
3. The deadline for developing and granting the gold export/import quotas as stipulated in Clauses 1 and 2 of this Article shall be no later than December 15 every year.
4. The Governor of the State Bank of Vietnam shall decide the establishment of the Council for developing and adjusting the quotas for gold bar export, gold bar import, and gold material import as prescribed in Clauses 1 and 2 of this Article.
Article 20. Procedures for granting quotas for export/import of gold bars, import of gold material for enterprises and commercial banks licensed to manufacture gold bars
1. No later than November 15 of the year preceding the year for which the quota is requested, enterprises and commercial banks specified in Article 11a of Decree No. 24/2012/ND-CP that apply for quotas for gold bar export, gold bar import, and gold material import for the following year shall submit 01 application as prescribed in Articles 10 and 12 hereof to the SBV.
2. Before December 15 each year, pursuant to the provisions of Clause 2 of Article 19, the SBV shall grant quotas for gold bar export, gold bar import, and gold material import to the enterprises and commercial banks specified in Clause 1 of this Article according to the form in Appendix 17 attached hereto, or send a written notice in case of refusal (stating clear reasons).
Article 21. Procedures for issuance of gold bar export licenses; gold bar import licenses; gold material export licenses for enterprises and commercial banks licensed to manufacture gold bars
1. Enterprises and commercial banks licensed to manufacture gold bars that want to export gold bars, import gold bars, or import gold material shall submit 01 application as prescribed in Articles 11 and 12 hereof to the SBV.
2. Within 5 (five) working days from the date of receiving a complete and valid application as prescribed in Article 11 hereof, based on the annually granted quotas as regulated in Clause 2, Article 19 hereof, the condition of gold bar export/import, gold material import, and the use of gold material imported according to the purposes stated in the Import License, the SBV shall grant the gold bar export licenses, gold bar import licenses, or gold material export licenses for enterprises to the enterprises and commercial banks according to the form in Appendix 18 attached hereto, or send a written notice in cases of refusal (clearly stating the reason).
DOCUMENTATION AND PROCEDURES FOR REVOCATION OF CERTIFICATES OF ELIGIBILITY TO MANUFACTURE GOLD JEWELRY AND GOLDSMITHS’ WARES; LICENSES TO TRADE GOLD BARS; LICENSES TO MANUFACTURE GOLD BARS
Article 22. Documentation and procedures for revocation of certificates of eligibility to manufacture gold jewelry and goldsmiths’ wares
1. In case the enterprise voluntarily terminates gold jewelry and goldsmiths’ ware manufacturing:
a) The enterprise shall submit to the SBV’s Regional Branch where the enterprise’ headquarters is located an application including:
a.1) Application form for voluntary termination of gold jewelry and goldsmiths’ ware manufacturing clearly stating the reasons;
a.2) Original copy of the Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares and original copies of documents that are inseparable parts of the Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares of the enterprise (if any);
b) Within 5 (five) working days from the date of receiving a valid application, the Director of the SBV’s Regional Branch shall issue a Decision on revocation of the Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares according to the form in Appendix 19 attached hereto.
2. In case the enterprise is required to terminate gold jewelry and goldsmiths’ ware manufacturing:
a) Based on inspection and supervision results or at the request from a competent state agency, the Director of the SBV’s Regional Branch shall issue a Decision on revocation of the Certificate of eligibility to manufacture gold jewelry and goldsmiths’ wares according to the form in Appendix 19 attached hereto;
b) Within 5 (five) working days from the date of receiving the Decision on termination of gold jewelry and goldsmiths’ ware manufacturing of the SBV’s Regional Branch, the enterprise must return the original copy of the Certificate and the original copies of documents that are inseparable parts of the Certificate (if any) and immediately cease gold jewelry and goldsmiths’ ware manufacturing.
Article 23. Documentation and procedures for revocation of Licenses to trade gold bars
1. In case the enterprise/credit institution voluntarily terminates gold bar trading
a) The enterprise/credit institution shall submit to the SBV an application including:
a.1) Application form for voluntary termination of gold bar trading clearly stating the reason;
a.2) Original copy of the License to trade gold bars and original copies of documents that are inseparable parts of the License to trade gold bars of the enterprise/credit institution (if any);
b) Within 10 (ten) working days from the date of receiving a complete and valid application, the Governor of the SBV shall issue Decision on revocation of the License to trade gold bars according to the form in Appendix 20 attached hereto.
2. In case the enterprise/credit institution is required to terminates gold bar trading
a.1) Due to dissolution or bankruptcy under the law;
a.2) Upon request of a competent state agency, the Foreign Exchange Management Department shall request the Governor of the SBV to issue a Decision on revocation of the License to trade gold bars according to the form in Appendix 20 attached hereto;
b) Within 5 (five) working days from the date of receiving the Decision on termination of gold bar trading of the SBV, the enterprise/credit institution must return the original copy of the License to trade gold bars and the original copies of documents that are inseparable parts of the License to trade gold bars (if any) and immediately cease gold bar trading.
Article 24. Documentation and procedures for revocation of Licenses to manufacture gold bars
1. In case the enterprise/commercial bank voluntarily terminates gold bar manufacturing:
a) The enterprise/commercial bank shall submit to the SBV an application including:
a.1) Application form for voluntary termination of gold bar manufacturing clearly stating the reasons;
a.2) Original copy of the License to manufacture gold bars and original copies of documents that are inseparable parts of the License to manufacture gold bars (if any);
b) Within 15 (fifteen) working days from the date of receiving a complete and valid application, the Governor of the SBV shall issue Decision on revocation of the License to manufacture gold bars according to the form in Appendix 21 attached hereto.
2. The enterprise/commercial bank’s License shall be revoked:
a) Due to dissolution or bankruptcy under the law;
b) Due to revocation of the License to trade gold bars;
c) Upon competent state agency’s request to cease gold bar manufacturing.
The State Bank of Vietnam shall issue a decision on revocation the License to manufacture gold bars according to the form in Appendix 21 attached hereto. The enterprise or commercial bank must immediately cease gold bar manufacturing at the time the License to manufacture gold bars is revoked and must return the original copy of such License and any Decisions on revision of the License to the SBV within 3 (three) working days.
INFORMATION CONNECTION AND PROVISION
Article 25. Rules and methods for information connection
The connection and provision of information to the SBV by enterprises and credit institutions holding Licenses to trade gold bars; enterprises and commercial banks holding Licenses to manufacture gold bars, Licenses to export/import gold bars, or import gold material shall be carried out according to the following rules and methods:
1. The information provided must be extracted from the data systems of enterprises and credit institutions, ensuring completeness and accuracy.
2. The connection must be made electronically, ensuring timeliness.
Article 26. Scope of information connection
1. The information connected to the State Bank of Vietnam by enterprises and credit institutions licensed to trade gold bars includes:
a) Personal identification information and the enterprise’s tax identification number;
b) Quantity of gold bars for trade;
c) Value of gold bar transactions.
The information connection form is prescribed in Appendix 28 attached hereto.
2. The information connected to the SBV by enterprises and commercial banks licensed to manufacture gold bars, export/import of gold bars, or import gold material includes:
a) Information on gold bar manufacturing (input materials, manufacturing time, output products);
b) Information on gold export/import (quantity of gold, gold content, export/import value);
c) Information on gold material trading (partners, quantity, content, and transaction value).
The information connection forms are prescribed in Appendices 25, 26, 29, and 30 attached hereto.
Article 27. Information storage period
Enterprises and credit institutions must store full information prescribed in Article 26 hereof. The minimum storage period for the information stipulated in Article 26 is 10 (ten) years from the date the information data is connected to the SBV.
Article 28. SBV’s Regional Branches
1. SBV’s Regional Branches shall submit quarterly and annual consolidated reports to the State Bank of Vietnam on the management of gold trading activities in their area using the form in Appendix 22 attached hereto.
2. The deadlines for submitting periodic reports prescribed in Clause 1 of this Article:
a) For quarterly reports: no later than the 20th day of the first month of the quarter following the reporting quarter;
b) For annual reports: no later than January 20th of the year following the reporting year.
Article 29. Enterprises and credit institutions doing gold business in Vietnam
1. On a daily basis or as necessary, enterprises and credit institutions granted a License to trade gold bars shall submit a report to the SBV on the trading quantity of gold bar using the form in Appendix 28 attached hereto.
2. Enterprises and credit institutions granted a License to trade gold bars that have changes in information on the business license (including changes in company name, address of gold bar business locations, additions of new business locations, or termination of gold bar trading at licensed locations) shall send quarterly report on these changes occurring during the reporting period using the form in Appendix 23 attached hereto according to the following regulations:
a) Enterprises and credit institutions shall send a report for the entire system to the SBV and the SBV’s Regional Branch where their headquarters is located;
b) Enterprises and credit institutions shall send a report of branches or transaction offices where changes have occurred to the SBV’s Regional Branch in the corresponding area.
In the case of address changes due to administrative boundary adjustments, enterprises and credit institutions are not required to submit reports on such changes as prescribed in this clause.
3. On a quarterly, annual basis, or as necessary, enterprises doing gold business shall submit reports to the SBV’s Regional Branches on their gold trading activities:
a) Enterprises granted Certificates of eligibility to manufacture gold jewelry and goldsmiths’ wares shall submit reports on manufacturing activities using the form in Appendix 24 attached hereto;
b) Enterprises doing gold business with contracts for processing gold jewelry and goldsmiths’ wares for foreign countries that are granted temporary import licenses for gold material to re-export gold products shall report on the import of gold material, manufacture, and export of gold jewelry and goldsmiths’ wares using the form in Appendix 05a attached hereto. Foreign-invested enterprises granted gold material import licenses for manufacturing gold jewelry and goldsmiths’ wares for export shall report on export/import of gold, and domestic consumption of gold products using the form in Appendix 05b attached hereto.
4. On a monthly, annual basis, or as necessary, enterprises and commercial banks granted Licenses to manufacture gold bars shall submit reports to the SBV on gold bar manufacturing and gold material trading using the forms in Appendices 25, 29, and 30 attached hereto.
On a monthly, annual basis, or as necessary, enterprises and commercial banks granted Licenses to export/import gold bars, import of gold material shall submit reports to the SBV on gold import/export using the forms in Appendix 26 attached hereto.
5. Within 5 (five) working days after the termination of the contract for processing gold jewelry and goldsmiths’ wares for foreign countries, the enterprise under such contract that is grant a temporary import license for gold material to re-export gold products shall submit a report to the SBV’s Regional Branch on the contract execution accompanied by a contract finalization statement certified by customs authorities.
6. Enterprises and credit institutions granted Licenses to trade gold bars by the State Bank of Vietnam must publicly post the buying and selling prices of gold bars at their business locations or on their websites, and connect to the SBV to provide information on the posted prices as guided by the SBV.
7. If the report contents specified in Clauses 1, 3, and 4 of this Article are already regulated under the statistical reporting regulations applicable to credit institutions, these institutions shall report according to the applicable regulations.
Article 30. Deadlines for submitting periodic reports
The deadlines for submitting periodic reports under this Circular are as follows:
1. For daily reports: no later than 14:00 (2 PM) on the next working day after the reporting day.
2. For monthly reports: no later than the 8th day of the month following the reporting month.
3. For quarterly reports: no later than the 15th day of the first month of the quarter following the reporting quarter.
4. For annual reports: no later than January 15th of the year following the reporting year.
RESPONSIBILITIES OF RELEVANT PARTIES
Article 31. Responsibilities of enterprises and credit institutions doing gold business
Enterprises and credit institutions doing gold business shall fully comply with Decree No. 24/2012/ND-CP and this Circular.
Article 32. Responsibilities of affiliates of the SBV
1. Foreign Exchange Management Department shall:
a) Take charge in requesting the Governor of the SBV to issue of regulations on developing and adjusting the total quotas for gold bar export, gold bar import, and gold material import for enterprises and commercial banks;
b) Take charge in requesting the Governor of the SBV to the issue, revise, and revoke Licenses to manufacture gold bars.
c) Appoint representatives to participate in the Quota development council as stipulated in Article 18 hereof. Take charge in cooperating with relevant units in submitting a consolidated report to the Governor of the SBV for decision and adjustments regarding the total quotas for gold bar export, gold bar import, and gold material import; grant and adjustment to the annual quotas for gold bar export, gold bar import, and gold material import for each enterprise and commercial bank;
d) Take charge in requesting the Governor of the State Bank of Vietnam to issue the Operational regulations of the Quota development council specified in Article 18 hereof;
e) Advise the Governor of the SBV to issue, revise, and revoke Licenses to export/import gold bar, import of gold material for enterprises and commercial banks under this Circular.
2. Department of Legal Affairs, State Bank Inspectorate, Credit Institution Management and Supervision Department shall cooperate with the Foreign Exchange Management Department in giving advice to the Governor of the SBV on issuing Licenses to manufacture gold bars.
3. The Monetary Policy Department, the Department Forecasting and Statistics – Monetary and Financial Stabilization, and the Credit Institution Management and Supervision Department shall appoint representatives to participate in the Quota development council specified in Article 18 hereof, and cooperate with the Foreign Exchange Management Department in performing tasks as prescribed in the operational regulations of the Council.
4. Information Technology Department shall cooperate with the Foreign Exchange Management Department in providing guidance on the implementation, reception of shared information from organizations as prescribed herein, and adjusting the SBV’s reporting system to ensure units can send, receive, collect, and use the report forms specified in herein.
5. Banking Times is responsible for receiving and posting on the official website of the buying and selling prices of gold bars provided by enterprises and credit institutions licensed to trade gold bars.
6. State Bank Inspectorate and SBV’s Regional Branches shall inspect and handling violations against regulations on manufacturing gold bar, gold jewelry and goldsmiths’ wares; gold bar trading; gold bar and gold material export/import; and other gold business activities as stipulated in Clause 9 of Article 4 of Decree No. 24/2012/ND-CP in accordance with this Circular.
1. This Circular comes into force from October 10, 2025, except for the provisions in Clauses 4 and 5 of this Article.
2. From the effective date of this Circular, the following documents shall be cease to be effective:
) Circular No. 16/2012/TT-NHNN dated May 25, 2012 of the Governor of the State Bank of Vietnam providing guidance on implementation of Decree No. 24/2012/ND-CP dated April 3, 2012 on management of gold business activities;
b) Circular No. 38/2015/TT-NHNN dated December 31, 2015 of the Governor of the State Bank of Vietnam amending Circular No. 16/2012/TT-NHNN;
c) Circular No. 03/2017/TT-NHNN dated June 6, 2017 of the Governor of the State Bank of Vietnam amending Circular No. 16/2012/TT-NHNN;
d) Circular No. 29/2019/TT-NHNN dated December 27, 2019 of the Governor of the State Bank of Vietnam amending Circular No. 16/2012/TT-NHNN;
dd) Circular No. 15/2021/TT-NHNN dated September 30, 2021 of the Governor of the State Bank of Vietnam amending Circular No. 16/2012/TT-NHNN;
e) Clause 1, Article 1 of Circular No. 24/2022/TT-NHNN dated December 30, 2022 of the Governor of the State Bank of Vietnam amending certain administrative procedures in foreign exchange management.
3. Certificates and Licenses issued before the effective date of this Circular shall remain valid until their expiration. Any amendments to Certificates and Licenses issued before the effective date of this Circular must comply with this Circular.
4. The implementation of information connection from enterprises and commercial banks to the SBV specified in Chapter VI hereof must be completed no later than March 31, 2026.
Before the connection is implemented, enterprises and credit institutions shall submit reports in accordance with the following regulations:
a) Enterprises and commercial banks licensed to manufacture gold bar shall submit written reports using the forms in Appendices 25, 26, 29, and 30;
b) Enterprises and credit institutions licensed trade gold bars shall submit reports using the form in Appendix 10a attached to Circular No. 38/2015/TT-NHNN;
c) SBV’s Regional Branches shall submit reports using the form in Appendix 12 issued with Circular No. 38/2015/TT-NHNN.
5. The connection with the SBV to provide information about the posted prices as prescribed in Clause 6 of Article 29 hereof must be completed no later than December 31, 2025.
6. Based on the situation of granting Licenses to manufacture gold bars to enterprises and commercial banks, the development, adjustment, and grant of quotas for gold bar export, gold bar import, and gold material import in 2025 for enterprises and commercial banks specified in Article 11a of Decree No. 24/2012/ND-CP shall be conducted according to Articles 19 and 20 hereof, except for the deadlines prescribed in Clause 3, Article 19 and Article 20 hereof.
7. Heads of affiliates of the SBV, people’s credit funds and enterprises, and credit institutions doing gold business are responsible for organizing the implementation of this Circular./.
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PP. GOVERNOR Pham Quang Dung |
