What is buying foreign currency? Can individuals buy foreign currency to bring abroad for medical treatment abroad?
What is buying foreign currency?
Buying foreign currency is explained in Clause 3, Article 3 of Circular 20/2022/TT-NHNN, buying foreign currency is when residents who are organizations or individuals use Vietnamese dong to buy foreign currency at a licensed bank to transfer money. or brought abroad for the purposes specified in this Circular.
Can individuals buy foreign currency to bring abroad for medical treatment abroad?
Can individuals buy foreign currency to bring abroad for medical treatment abroad? According to the provisions of Clause 1, Article 9, Circular 20/2022/TT-NHNN as follows:
Cases of purchasing, transferring, and bringing foreign currency abroad for the purpose of one-way money transfer by residents who are Vietnamese citizens
first residents who are Vietnamese citizens are allowed to buy, transfer, and bring foreign currency abroad for one-way money transfer purposes specified in Clause 2, Article 7 of Decree No. 70/2014/ND-CP.
2. Purchasing, transferring, and bringing foreign currency is performed by residents who are Vietnamese citizens or by legal representatives of Vietnamese citizens or by relatives of Vietnamese citizens who are studying or receiving medical treatment abroad. In addition to following the instructions of the authorized bank in accordance with the provisions of law.
Refer to point a, clause 2, Article 7 of Decree 70/2014/ND-CP as follows:
One-way money transfer from Vietnam to abroad
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2. Residents who are Vietnamese citizens are allowed to buy, transfer, and bring foreign currency abroad according to the regulations of the State Bank of Vietnam for the following purposes:
a) Studying and receiving medical treatment abroad;
b) Going on business trips, traveling, or visiting abroad;
c) Pay fees and charges to foreign countries;
d) Subsidies for relatives abroad;
d) Transfer inheritance money to beneficiaries abroad;
e) Money transfer in case of settling abroad;
g) One-way money transfer for other legal needs.
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Thus, according to the above regulations, individuals who are citizens are allowed to buy foreign currency to bring abroad for medical treatment abroad.