The State Bank of Vietnam (SBV) has just issued a Circular guiding a number of articles of Decree No. 24/2012/ND-CP of the Government on management of gold trading activities, amended and supplemented by Decree No. 232/2025/ND-CP.

The Circular takes effect from October 10, at the same time Decree 232 takes effect.

The issuance of this circular aims to provide specific guidance on the issuance, amendment, supplementation and revocation of Certificates and Licenses in gold-related activities such as: production of gold jewelry and fine arts; trading and production of gold bars; import and export of gold.

At the same time, the circular also regulates the granting of gold import and export limits, reporting regimes and connection, and provision of information of enterprises and credit institutions operating in the gold sector.

According to the provisions of the Circular, the application for a Business License to buy and sell gold bars is simplified. Enterprises only need to submit an application (according to the form), a list of registered gold bar business locations, a Certificate of registration of branch operations, and confirmation from the tax authority of the amount of tax paid for gold trading activities in the two consecutive years.

For applications for issuance, amendment or supplementation of a Gold Bar Production License, enterprises must supplement internal regulations on the process of importing raw materials, production, supervision and quality control of gold bars; accompanied by documents proving that administrative violations have been remedied and all recommendations in the inspection and examination conclusions of competent authorities have been fully implemented.

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Illustration photo: Nam Khanh

For the application for granting, amending or supplementing the License to temporarily import raw gold for re-exporting products, applicable to enterprises that have contracts to process gold jewelry and fine arts with foreign partners, in addition to the application for a license, the enterprise must submit the processing contract with the foreign country and report on the situation of importing raw gold, producing and exporting gold jewelry and fine arts in the 12 consecutive months before the time of submitting the application.

For foreign-invested enterprises, no later than December 15 of the year before the planning year when needing to supplement the volume of imported raw gold, the enterprise must have an investment registration certificate; gold processing contract; report on the implementation of import-export and consumption of gold products in the Vietnamese market within the previous 12 months.

For enterprises investing abroad in the field of gold mining, the dossier must include an Investment Certificate; documents proving that the source of raw gold expected to be imported is mined by the enterprise itself or is divided into products according to a cooperation agreement on mining abroad; and a report on the situation of mining and importing raw gold in the 12 months immediately preceding the time of submitting the dossier.

Enterprises with a gold mining license in Vietnam, when submitting their application, must prove that the source of raw gold expected to be exported is mined by the enterprise; and report on the situation of mining and exporting raw gold of the enterprise within the previous 12 months.

Notably, enterprises and commercial banks submitting applications for export and import limits on gold bars and raw gold must have a report on the implementation of gold export and import activities within 12 consecutive months prior to the time of application submission.

If requested, enterprises and commercial banks must provide documents proving that the source of exported gold bars comes from domestic import, production and trading sources.

Within 20 days from the date of receiving the application, the Director of the State Bank of Vietnam regional branch shall issue or refuse to issue (stating the reason) the Certificate of eligibility to produce gold jewelry and fine arts.

No later than November 15 of the following year, businesses and banks that need to be granted a limit for the import and export of gold bars and raw gold for the following year must submit a set of documents to the State Bank. Before December 15 of each year, this agency will issue a decision to grant the limit.

Source: https://vietnamnet.vn/don-gian-hoa-thu-tuc-cap-phep-kinh-doanh-vang-tu-10-10-2451329.html