In Vietnam, cash over $5,000 must be declared at the border
In Vietnam, authorities reminded the public of the rules for bringing cash into the country after an incident at the Lao Cai international border gate. On September 3, border guards and customs officers detained a Chinese citizen who was trying to bring 355 million dong in cash into the country without filing the required declaration. On September 7, a criminal case was opened over the incident.
According to investigators, the detained man, Zhao Fui, born in 1996, was engaged in vegetable trading between China and Vietnam. He explained that he had brought the money to pay for goods and workers’ wages, after which he planned to deposit the funds into his bank account in Vietnam. He did not declare the cash when passing through border control.
During the inspection, officers seized 355 million dong from the man — 602 banknotes of 500,000 dong, 120 banknotes of 200,000 dong, and 300 banknotes of 100,000 dong. An examination confirmed the authenticity of the entire amount.
Importantly, bringing a large amount of cash into Vietnam is not in itself prohibited. However, when crossing an international border, travelers must declare foreign currency in cash exceeding 5,000 US dollars or the equivalent in another currency, as well as Vietnamese dong cash exceeding 15 million dong. These amounts are specifically thresholds for mandatory declaration, not the maximum amount of money allowed to be brought in.
There is also a separate rule for foreign currency. Even if a person brings in 5,000 dollars or less, it must still be declared if they intend to deposit the cash foreign currency into their foreign-currency bank account in Vietnam.
Administrative fines are предусмотрены for failing to declare cash or declaring it incorrectly. Under current rules, if the amount of undeclared money is from 100 million dong, the fine ranges from 10 million to 20 million dong.
At the same time, the violation may escalate from an administrative offense to a criminal case if the amount and circumstances meet the elements of illegal transportation of currency across the border. Under Article 189 of Vietnam’s Criminal Code, amounts from 300 million to less than 500 million dong are punishable by a fine of 200 million to 1 billion dong or imprisonment for 2 to 5 years.
This is exactly the range into which the 355 million dong found on the Chinese citizen in Lao Cai falls. The investigation is ongoing.
Source: https://news.tuoitre.vn/foreigners-carrying-cash-to-vietnam-when-can-violations-lead-to-prosecution-103260909160158881.htm Source: https://chinhphu.vn/default.aspx?docid=152210&pageid=27160 Source: https://xaydungchinhsach.chinhphu.vn/muc-phat-voi-nguoi-xuat-nhap-canh-khong-khai-khai-sai-so-tien-mat-vang-mang-theo-vuot-muc-quy-dinh-119260520111349618.htm
