b) International checkpoints (road, air, water);

c) Prize gaming facilities for foreigners which are licensed as prescribed by law;

d) Ticket offices of the airlines, maritime, foreign travel, and international ticket offices of Vietnam airlines;

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3. It has facilities that satisfy the following operational requirements of the currency exchange agent:

a) There is a separate transaction area (transaction room(s) or counter(s) not associated with other business activities, only for currency exchange services);

b) The transaction area must have adequate working equipment, at least including telephones, fax machines, safes, public exchange rate bulletin, signs stated the name of authorizing credit institution and name of currency exchange agent.

4. Each staff member who directly works in the currency exchange agent must have a document certifying that he/she has been trained in recognition of real or fake foreign currencies that is issued by the authorizing credit institution.

5. It has established currency exchange procedures; measures to ensure security and safety in the process of currency exchange.

6. It is authorized by the credit institution to act as a currency exchange agent.

7. A business entity may only acts as a currency exchange agent for an authorizing credit institution and the business entity may agree to set currency exchange agent at one or multiple locations in the area where the organization has its head office or branch located.

Article 5. Requirements pertaining to business entities providing direct foreign currency payment services

1. Requirements applicable to a business entity for approval for direct foreign currency payment services granted by the State bank of Vietnam:

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b) It has equipment and facilities that satisfy the requirements for foreign currency payment services such as: Computers, telephones, fax machines;

c) There is an agreement on foreign currency payment services concluded with foreign partners;

d) There is a plan for foreign currency payment services bearing the signature of the legal representative.

2. Requirements applicable to a business entity for extension of approval for direct foreign currency payment services granted by the State bank of Vietnam:

a) It satisfies the requirements prescribed in Clause 1 of this Article;

b) The approval for direct foreign currency payment services remains valid at least 30 days before the submission date;

c) It does not violate reporting regulations as prescribed by the State bank of Vietnam in at least 4 quarters from the date on which the approval for direct foreign currency payment services or the extension of approval for direct foreign currency payment services is granted.

Article 6. Requirements pertaining to business entities acting as foreign currency payment agents

1. Requirements applicable to a business entity for approval for registration of foreign currency payment agent granted by the State bank of Vietnam:

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b) It has equipment and facilities that satisfy the requirements pertaining to foreign currency payment agent: Computers, telephones, fax machines;

c) It is authorized by the credit institution to act as a foreign currency payment agent.

2. Requirements applicable to a business entity for extension of approval for foreign currency payment agent granted by the State bank of Vietnam:

a) It satisfies the requirements prescribed in Clause 1 of this Article;

b) The approval for registration of foreign currency payment agent remains valid at least 30 days before the submission date;

c) It does not violate reporting regulations as prescribed by the State bank of Vietnam in at least 4 quarters from the date on which the approval for registration of foreign currency payment agent or the approval for extension of direct foreign currency payment agent is granted.

Article 7. Implementation

1. This Decree comes into force from July 1, 2016.

2. The Governor of the State bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of Governmental agencies, the Presidents of the People’s Committees of central-affiliated cities and provinces and relevant organizations or individuals shall implement this Decree./.

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ON BEHALF OF THE GOVERNMENT
PRIME MINISTER




Nguyen Xuan Phuc