Instamo Money Transfer From Vietnam To Overseas

Fintech

Instamo Money Transfer From Vietnam To Overseas

By: Angel

Case 1: Vietnamese citizens: One-way money transfer from Vietnam to overseas

Paying for academic expenses

Payment for medical expenses overseas.

Purpose of payment of fees and charges           

Purpose of traveling / visiting overseas.

Payment related to traveling with service providers abroad

Purpose is for relatives who are living abroad

Money transfer for permanent residence abroad.

Transfer inheritance money to beneficiaries abroad.

Transfer money for service contract payments

Transfer money to cover expenses before being granted an offshore investment certificate

Case 2: 

Non-residents or residents being foreigners: One-way money transfer from Vietnam to foreign countries 

Money transfer is derived from inheritance             

Outward remittance of assets / money derived from donations              

Foreign currency remittance is derived from salaries, bonuses and remuneration for foreigners working in Vietnam             

Money transfer is derived from the sale / transfer of real estate / real estate.             

Money transfer originates from real estate rentals.             

Transferring foreign currency out of Vietnam to aboard 

Transfer balances on accounts of foreigners.             

Bringing and transferring money abroad for value-added tax refunded due to the purchase of goods in Vietnam and carrying goods through tax refund border gates.

Carrying and transferring foreign currencies abroad for individuals allowed to participate in prize-winning electronic game activities.

 Case 3: Money transfer for capital transactions:

Transferring direct foreign investment money of residents who are individuals.

Money transfer for the purpose of contributing capital to buy shares in Vietnamese enterprises (indirect investment) of non-resident foreign individuals.             

Transfer principal, interest, and fees for foreign loans.

Case 4: Transferring money to Vietnamese individuals who have settled abroad.

Case 5: Other personal money transfer purposes.

The transfer fee includes the following fees: One-way money transfer + Foreign bank charges bear by the remitter + Telegraphic fee

SPECIFIC DETAILS:

CASE 1: MONEY TRANSFER FROM VIETNAMESE OVERSEAS RESIDENCE FOR RESIDENTS ARE VIETNAMESE CITIZENS:

I. MONEY TRANSFER FOR LEARNING COURSE

1) Subjects: Residents who are Vietnamese citizens who will or are studying abroad, wish to transfer foreign currencies abroad to pay for school fees, living expenses and other related expenses during study abroad program by yourself.                            

Documents submitted :

Original identification of foreign currency remittance abroad.

The notice of expenses of the foreign training institution showing the name of the person admitted in school. In case the expense notice does not show the name of the student, the customer must enclose the letter of acceptance of the foreign training institution or documents proving that he / she is studying abroad student card visa, ... ).

2) Subjects : Residents being Vietnamese citizens whose relatives will or are studying abroad, have the need to transfer foreign currencies abroad to pay for school fees, living expenses and other related expenses important in the process of studying abroad.                            

Relatives : are persons related to each other such as biological parents, adoptive parents, spouses, biological children, adopted children, siblings; father and stepmother; guardians / caregivers.

Guardian is a person who is prescribed or appointed by law to take care of and protect the legal rights and interests of a minor or a person who has lost civil act capacity (called a "person who is Guardian").

• Proof of relative relationship: is one of the documents such as Birth Certificate, Household Registration, Certificate of Marriage Registration or Certificate of local authorities proving the relationship. In case of adoptive parents, adopted children must be certified by competent state management agencies as prescribed by law; In case of father, stepmother or guardian / nurturer must have legal papers (such as marriage certificate showing the father and mother stepmother or stepfather and lawful husband and wife, certificate of marriage authority on guardianship / custody).         

• Proof of guardianship: Birth certificate, household registration book, death certificate, confirmation from authorities…

• Documents submitted:         

• Identification papers of people who transfer foreign currencies abroad.        

• The expense notice of the foreign training institution showing the name of the person admitted in school. In case the expense notice does not show the name of the student, the customer must enclose the letter of acceptance of the foreign training institution or documents proving that they are studying abroad (student card, visa, ...).        

Proof of relative relationship.        

3) Audience: Enterprises with the function of advising and studying abroad are authorized to transfer foreign currencies abroad by relatives or themselves being Vietnamese citizens who are studying abroad. The living expenses and other expenses related to studying abroad.

Documents submitted :         

- A foreign training institution's notice of the cost of each person going to school. In case the notice does not specify the cost of each student, the enterprise must enclose the admission letter of the foreign training institution or the papers proving that the student is studying abroad student, visa.).      

- Authorization document of the student / relative of the student (notarized, authenticated) or by the Bank 's BM      

- Identification papers of authorized person; Documents proving the relative relationship of the authorized person and the student (presented in case the relatives of the authorized student).      

- A notarized or authenticated copy of the business registration certificate (for cases where the enterprise remits foreign currency for the first time at the Bank).      

 4) Subjects Individuals authorized by students or their relatives to transfer foreign currencies abroad to pay tuition fees, living expenses and other relevant expenses during their study at foreign                            

• Documents submitted :         

- Identification papers of people who transfer foreign currencies abroad.      

- The notice of expense of the foreign training institution showing the name of the person going to school. In case the expense notice does not show the name of the person admitted in school, showing an additional letter of acceptance of admission of a foreign training institution, or documents proving that he / she is studying abroad (student card, visa) 

- Authorization document of the student / relative of the student (notarized, authenticated) or by the Bank 's BM . Where the authorization at the headquarters of Bank may use the form Bank      

- Identification papers of authorized person; Documents proving the relative relationship between the authorized person and the student (in case the relative of the authorized student ).      

II. TRANSFER OF PAYMENT OF TREATMENT COSTS

1) Subjects: Residents being Vietnamese citizens wishing to transfer foreign currencies abroad to pay hospital fees, living expenses and other relevant expenses in the course of overseas medical examination and treatment yourself.                            

• Documents submitted :         

- Identification papers of people who transfer foreign currencies abroad.      

- A certificate of medical examination and treatment reception, granted by a foreign facility, or a letter of introduction to abroad by a domestic medical establishment      

- Notice of cost or estimated cost of foreign medical facility (if any).      

2) Subjects : Residents being Vietnamese citizens wishing to transfer foreign currencies abroad to pay for hospital fees, living expenses and other expenses related to their family's overseas medical treatment multiply.                            

Documents submitted :

Identification papers of people transferring foreign currencies abroad.

Letter of receipt of medical examination and treatment issued by a foreign facility or a letter of introduction to abroad by a domestic medical establishment

Notice of cost or cost estimate of foreign CSCB (if any).

Papers proving relative relationship.

Passport of the person seeking medical treatment

TRANSFER OF PAYMENT OF PAYMENTS AND FEES

Subjects: Residents being Vietnamese citizens wishing to transfer foreign currencies abroad to pay fees and charges (membership fees, application processing fees, visa fees, seminar attendance fees abroad; the cost of posting articles and researches in foreign newspapers / magazines / online newspapers and other charges and fees) of themselves or their relatives.                            

Documents submitted :

Identification papers of people transferring foreign currencies abroad.

Notice of foreign expenses.

Copies of personal papers of payers of fees and charges.

Documents proving relative relationship in case of foreign currency transfer paper for relatives)

TRANSFER OF FOREIGN CURRENCIES WHEN TRAVELING OR VISITING

Subjects: Residents being Vietnamese citizens wishing to transfer foreign currencies abroad to pay fees and charges (membership fees, application processing fees, visa fees, seminar attendance fees abroad; the cost of posting articles and researches in foreign newspapers / magazines / online newspapers and other charges and fees) of themselves or their relatives.                            

Documents submitted :

Identification papers of people transferring foreign currencies abroad.

Notice of foreign expenses / Decision on sending a business trip of the agency / Invitation of the foreign agency / Letter of registration for attending seminars and conferences of the working agency.

In case customers only present their passport with Visa without notifying the expenses to be paid to foreign organizations, customers can only buy and bring foreign currencies in cash as prescribed by the Governor of the State Bank of Vietnam in each period.

PAYMENT OF COSTS RELATED TO THE TRAVELING ABROAD TO UNITS PROVIDING OVERSEAS SERVICES

Subjects: Residents being Vietnamese citizens traveling abroad wishing to transfer foreign currencies abroad to pay for travel expenses, hotel room expenses and other expenses related to travel abroad.                            

Documents submitted:

Identification papers of people transferring foreign currencies abroad.

An agreement between a traveller and a foreign service provider.

Receipt / voucher of payment.

TRANSFER OF CURRENCY BENEFITS FOR OVERSEAS

 Subjects: Residents being Vietnamese citizens wishing to transfer foreign currencies abroad to provide subsidies for their relatives abroad.                            

Documents submitted:

Identification papers of people transferring foreign currencies abroad.

Papers proving relative relationship.

Documents proving that the beneficiary is abroad.

Written commitment of the remitter on the amount of foreign currency bought, brought or transferred during the year to the overseas beneficiary.

TRANSFER OF FOREIGN CURRENCIES IN THE CASE OF RESIDENT ABROAD

1) Subjects: Residents being Vietnamese citizens permitted to settle abroad who wish to transfer foreign currencies abroad when they settle down.                            

Documents submitted:         

• Passport of the person on exit.         

• Proof of Vietnamese citizens are allowed to settle abroad / a visa to settle.         

• Customers must present documents proving the source of the funds transferred for immigration purposes

• Original household registration book - in case the savings book is sent after the date the customer goes to settle (for the first time the customer leaves the country to be resettled)         

TRANSFER OF SURVEY CASH TO BENEFICIARY OVERSEAS OVERSEAS Subjects: Residents being Vietnamese citizens who represent heirs abroad to transfer foreign currencies abroad for their heirs abroad.

 Documents submitted:         

- Identification papers of people who transfer foreign currencies abroad.      

- A document of the competent authority on the declaration of inheritance and / or a written agreement on division of inheritance or will between the lawful heirs.      

- Power of attorney of the beneficiary (notarized, authenticated) or documents proving the legal representative status of the representative.      

- Papers proving that the beneficiary is abroad.      

- The original copy of the remitter's commitment to fulfill tax obligations to the Vietnamese State related to the service contract.   

TRANSFER OF PAYMENTS OF THE EXPENSES BEFORE GRANTING THE CERTIFICATE OF INVESTMENT ABROAD

Target: Vietnamese citizens who need to pay for investment preparation before being granted a certificate of outward investment registration         

• Documents submitted:         

- Contract / agreement of service provision / deposit request between deposit / escrow / service provider and customer participating in investment       

- Invoice / payment notice / request for payment of foreign expenses       

- Table of investment project estimates       

- Original copy of Customer Commitment - BM 03 / QD-TNTTTM-01       

Other relevant documents if any       

 CASE 2: 

RESIDENTS ARE FOREIGNERS: MONEY TRANSFER FROM VIETNAM TO ABROAD 

I. CASH TRANSFER WITH ORIGINAL SOURCE FROM THE INHERITANCE OVERSEAS 

Subjects: Foreigners entitled to inheritance who have the need to transfer money originated from inheritance abroad.

• Documents submitted:         

- Identification papers of people who transfer foreign currencies abroad.       

- A document of the competent authority on the declaration of inheritance and / or a written agreement on division of inheritance or will between the lawful heirs.       

TRANSFER OF FOREIGN CURRENCIES FROM SALARY, BONUS AND REMUNERATION

Audience: Individuals who are foreigners legally working in Vietnam and need to transfer foreign currencies originating from salaries, bonuses and remuneration abroad.

• Documents submitted :         

- Identification papers of people who transfer foreign currencies abroad.       

- Labor contract.       

- Work permit / Certification not subject to issuance of a work permit by the competent authorities (presenting for cases where the labor contract shows the working time of over 3 months).       

- Payroll with confirmation from the business owner or a bank account supplement book showing salary information (presented in case the transfer amount is larger than the amount on the labor contract).   

 - Other documents required by the bank (if necessary).      TRANSFER OF FOREIGN CURRENCY FROM PROPERTIES PROVIDED

1) Transfer money overseas for the given gift of cash.    

• Subjects : Individuals who are foreigners have a need to transfer money originating from being given as cash by Vietnamese citizens.         

• Documents submitted:          - Identification papers of people who transfer foreign currencies abroad.       

- A notarized / authenticated donation contract (original copy); Original copy of donation document (authenticated at the Notary Public office)       

- Papers proving relative relationship (in the presentation of the gift document)       

- Documents of money transfer / deposit to the recipient's account (if any)       

- Documents proving the origin of the cash given       

- In case the foreign currency transfer customer is the person who is given the authorization by the recipient of the property, the customer presents additionally:       

•Identification papers of the foreign currency transfer.         

• Power of attorney / Authorization contract with notarized / authenticated documents.   2) Transfer money overseas for the given money transfer as a savings book.    

• Subjects : Individuals who are foreigners transferring income derived from Vietnamese citizens giving or giving away assets as savings books.         

 Documents submitted:         

- Identification papers of people who transfer foreign currencies abroad.       

- A notarized donation contract, a donation document (authenticated at the Notary Office).       

- Savings book / deposit certificate has been transferred with the original copy of the savings book / deposit certificate / deposit certificate transfer; or the original copy of savings card statement with full information about savings card.       

- In case the remitting customer is an authorized recipient of the property, the customer needs to produce additional:       

• Identification papers of the foreign currency transfer.         

• Power of attorney / Authorization contract (notarized / authenticated);     

3) Transfer of money abroad for amounts derived from transfer of real estate or real estate donated by Vietnamese citizens:     

• Subjects : Individuals who are foreigners who wish to transfer income derived from the transfer of real estate or real estate donated by Vietnamese citizens.         

• Documents submitted:         

- Identification papers of people who transfer foreign currencies abroad.       

- A notarized or authenticated gift giving contract (original copy).       

- A contract of sale of assets being a real estate or notarized or authenticated.       

- In case the foreign currency transfer customer is the person who is given the authorization by the recipient of the property, the customer needs to produce additional:   

 - Proof of identity of the sender.         

- Power of attorney / Authorization contract with notarized / authenticated documents.     3) Transfer of money abroad for amounts derived from transfer of real estate or real estate donated by Vietnamese citizens:    

• Subjects : Individuals who are foreigners who wish to transfer income derived from the transfer of real estate or real estate donated by Vietnamese citizens.         

• Documents submitted:         

- Identification papers of people who transfer foreign currencies abroad.       

- A notarized or authenticated gift giving contract (original copy).       

- A contract of sale of assets being a real estate or notarized or authenticated.       

- In case the foreign currency transfer customer is the person who is given the authorization by the recipient of the property, the customer needs to produce additional:    

• Proof of identity of the sender.         

• Power of attorney / Authorization contract with notarized / authenticated documents.         

MONEY TRANSFER OF ORIGIN FROM THE SELLING / TRANSFER OF REAL ESTATE / REAL ESTATE

 Subjects: Foreign individuals who own lawful real estate / real estate who wish to transfer money abroad from the sale of real estate / real estate assets in Vietnam.

• Documents submitted:         

- Identification papers of people who transfer foreign currencies to foreign countries.       

- Real estate / real estate sale / purchase contract (notarized or authenticated).       

- The original of the property seller account statement showing the payment of the property transfer / sale contract       

- Foreigner's account statement showing that the real estate collector / real estate transferor pays the property lease contract.        TRANSFER OF FOREIGN CURRENCIES TO FOREIGNERS ABROAD HAVING ENTRY TO VIETNAM TO BRING FOREIGN CURRENCIES.

TRANSFER BALANCE ON ACCOUNT OF FOREIGNERS.             

 BRINGING AND TRANSFERING MONEY ABROAD TO THE VALUE-ADDED TAX RATE IS REFUNDED BY PURCHASING GOODS IN VIETNAM AND BRING GOODS THROUGH TAX REFUND.

 BRINGING AND TRANSFERSING FOREIGN CURRENCIES ABROAD TO INDIVIDUALS ALLOWED TO PARTICIPATE IN THE PRIZING ELECTRONIC GAME ACTIVITIES.

CASE 3: TRANSFER OF MONEY TO CAPITAL TRANSACTIONS:

  1.   Transferring foreign direct investment money of residents who are individuals.

  Money transfer for the purpose of contributing capital to buy shares in Vietnamese enterprises (indirect investment) of non-resident foreign individuals.          

CASE 5 : OTHER PERSONAL TRANSFER PURPOSE.

For Vietnamese individuals who have settled abroad (have a residence permit or have a foreign nationality) but still hold Vietnamese nationality and are currently residing in Vietnam (with permanent registration in Vietnam) Male - customers present the original household registration book and valid identity card / passport), wishing to transfer money abroad, the Bank will receive the file and handle it as in the case of remittance applies to Vietnamese citizens residing and / or as in the case of legal transfer of income to foreign countries.         

CASE 4: MONEY TRANSFER TO INDIVIDUALS VIETNAMESE RESIDENT ABROAD.

 For Vietnamese individuals who have settled abroad (have a residence permit or have a foreign nationality) but still hold Vietnamese nationality and are currently residing in Vietnam (with permanent registration in Vietnam) Male - customers present the original household registration book and valid identity card / passport), wishing to transfer money abroad, the Bank will receive the file and handle it as in the case of remittance applies to Vietnamese citizens residing and / or as in the case of legal transfer of income to foreign countries.         

CASE 5 : OTHER PERSONAL TRANSFER PURPOSE.

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