Trading in buying and selling gold bars is a conditional business. To help customers understand more about the legal regulations on granting business licenses to buy and sell gold bars for businesses, Hong Bang Law would like to advise as follows:
Legal basis
- Decree No. 24/2012/ND-CP dated April 3, 2012, of the Government on the management of gold business;
- Decree No. 16/2012/TT-NHNN dated May 25, 2012, of the State bank guiding several articles of Decree No. 24/2012/ND-CP dated April 3, 2012, of the Government on management gold trading activities;
- Decree No. 03/2017/TT-NHNN dated June 6, 2017, of the State Bank amending and supplementing several articles of the Governor’s Circular No. 16/2012/TT-NHNN dated May 25, 2012, The State Bank of Vietnam guides several articles of the Government’s Decree No. 24/2012/ND-CP dated April 3, 2012, on the management of gold trading activities.
Conditions
- Being an enterprise established and operating under the law.
- Having a charter capital of 100 billion VND or more.
- Having experience in the business of buying and selling gold from 2 (two) years or more.
- Having paid tax of gold business from 500 (five hundred) million dong/year or more in the last 2 (two) consecutive years (certified by the tax authority).
- Having a network of branches and sales locations in Vietnam from 3 (three) provinces and centrally-run cities or more.
The dossier
- An application form for a business license to buy and sell gold bars
- List of registered locations as business locations for buying and selling gold bars (headquarters, branches, business locations)
- Certificate of business registration, Certificate of branch operation registration, and documents showing that the registered location as a business location for buying and selling gold bars according to the list at Point 2 above has been registered for business. business or has been notified to the competent business registration agency under the law
- The tax authority’s certification of the paid tax amount of gold business activities in the previous 02 (two) consecutive years
The competent authority
State Bank of Vietnam
Time
30 working days from the date of submission of valid documents
If you need more detailed advice and answers as well as how to access this service, please contact directly our Lawyer Nhat Nam via hotline: 0912.35.65.75, 0912.35.53.53 or call the toll free legal consultation hotline 1900.6575 or send a service request via email: lienheluathongbang@gmail.com
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