Declaring currency when entering Vietnam....

Bro this article will answer your question.
travel.state.gov/content/passports/english/country/vietnam.html

My apologies.....The attached article does not completely answer all your questions.  I am going to open a bank account, and fund with wire transfers from my local bank in the US because the fees are very reasonable.

To carry a very large sum of money in cash has to be extremely dangerous.
I can already see you in a room somewhere, surrounded by bent whatever officials, all demanding a percentage.
Even leaving your country with a sack of cash is inviting the taxman to investigate you, and a whole host of security agencies looking to see if you support ISIS.

It has to be a bad idea.

Not only are you going to have to declare the money when you bring it into Vietnam, but you're also going to have to justify its source.

You will also be required to declare the money when departing Canada as well. Any amount over $10,000 CAD must be declared prior to departure or you will find yourself in a whole world of trouble.

Apart from carrying large sums of cash when you travel, which is extremely risky there are international money laundering laws that are taken very seriously. You'll have mountains of paperwork to fill out on both ends (Canada and VN). Regardless of the additional expense you're far wiser to transfer the money electronically through your bank.

If you insist on carrying cash, please advise me by private message of the details of your flight, I could really use that kind of cash!   

Cheers,
James
Expat-blog Experts Team

How much are the fees anyway? Unless they're more than the $50,000 CAD you stand to lose they aren't "ridiculous".

What will you do, and who can you rely on to recover your money is you get robbed while in transit?

Bad, bad, bad idea all around

I agree with James bad idea.

But if you do declare $50k coming into Vietnam make sure to not lose that paper. If you decide to leave Vietnam with $50k you'll have to prove you came in with $50k which is that handy paper.

The maximum your may bring into VN is $US5000 of equivalent.

$5000 USD without having to declare it to custom.

Mikeymike posted a while back having to declare more than $5000 and they held his money. He had to bribe them some money to get his money back.

I'll find that posting when I have time.

I have an option to offer; please pm me or email iphanthk@gmail.com

Barber368 wrote:

I am wondering if anyone would know the forms or legalities to bringing in currency to Vietnam.
I am looking to come to Vietnam and help my family buy property. I would send the money via transfer and wires but the cost is ridiculous. I am going to be coming to Vietnam soon so I want to bring the money myself and not lose the money due to fees and such.
I know I have  to declare monies, but What I am wondering is are there any forms or documents that I need to accompany the money so that Vietnam customs does not charge me or try to extort money from me? I am looking at bringing over 50,000 cad in currency.
I looked up the info online but none have really answered the question.
Anyone have experience in this area?
Other options?

Have you try contacting the Vietnamese Consulate/Embassy? That's a lot of cash to carry. If it was me I would pay the transfer fees. Expensive but mostly worry free. Just my 2 dong!!!

ABCABCABC wrote:

I have an option to offer; please pm me or email iphanthk@gmail.com

So you have mentioned several times.
If it's legal, please post it here as I'm sure a lot of expats would like to know about it.
Your other posts suggest it's free of charge - something that waves a big fat red flag for me.

https://www.expat.com/forum/viewtopic.php?id=470495

My thought is simply because I want to send money from VN to Canada & if someone wants to send money from Canada to VN; we can work out the logistics like this: in Canada; you deposit say $100 into my bank account; I will give the person you want to send money to in VN $100.

Would this work?!

Fred; not sure where you got that I have mentioned several time; I only replied once there & quoted again here. Please let me know what is illegal about it & what is the wave of a big fat red flag for you?

I've brought in large sums of money in cash more than a few times, never had a problem at either end. I declared it at NARITA and then when flying into TSN. Only thing I had to show them at NARITA was a stamped withdrawal slip from my bank and only one time customs at TSN ask for any paperwork. I showed them the withdrawal slip from my bank and the paper that customs in NARITA stamped. Absolutely no hassles at either end.  I might add that my flight was direct, no stop overs and I timed my arrival so that I could go directly to VCB and deposited it into my account before I went to the hotel and checked in. I was staying at the REX back then and had them do the airport pick-up so I didn't have to mess with taxi's. Make sure you keep the paperwork as stated by  khanh44. Here's some advice you didn't ask for. I read the reasoning for you wanting to bring in that amount of money and even though you've been coming back and forth for 6 years and think every thing is lovey dovey with your relatives don't buy/spend money on anything you can't have in your name alone. A house, land, motorcycle, nothing over 1mil VND of value. Get a bank account here in VN only in your name and put it all in it.

ABCABCABC wrote:

Would this work?!

Unlikely, as few people would trust a total stranger with any large amount of cash.

ABCABCABC wrote:

Fred; ...........what is the wave of a big fat red flag for you?

You're suggesting the OP drop 50 grand in a stranger's account, not the first time you've suggested strangers put cash into your account.
That'll do for me.

You have to admit, it sounds really dodgy, even if it isn't.

Fred; The suggestion of dropping off 50k in a stranger's account is from you, not my suggestion, don't put words in other's mouth.

Fred wrote:

ABCABCABC wrote:

Would this work?!

Unlikely, as few people would trust a total stranger with any large amount of cash.

ABCABCABC wrote:

Fred; ...........what is the wave of a big fat red flag for you?

You're suggesting the OP drop 50 grand in a stranger's account, not the first time you've suggested strangers put cash into your account.
That'll do for me.

You have to admit, it sounds really dodgy, even if it isn't.

Vietnamese communities in western countries have brokers that will "transfer" money this way. You give them the money and someone in Viet Nam will deliver it to the recipient. Up until 10 or so years 90% of Vietnamese sent money this way, and large sums are still sent this way.

ABCABCABC wrote:

Fred; The suggestion of dropping off 50k in a stranger's account is from you, not my suggestion, don't put words in other's mouth.

Sorry - my bad. I  have no idea where I got that idea from.

Barber368 wrote:

I am looking at bringing over 50,000 cad in currency.
........Other options?

ABCABCABC wrote:

I have an option to offer; please pm me or email ......

That and you've suggested people put cash into your account before.
You mention $100, and the OP is talking about much more, but you still ask him to contact you.

Even if you have no fowl intent - it sounds really bad.

Budman made a great point which reminds me the Vietnamese tend to hassle Viet Kieus or Asian looking for money and leave the white folks alone.

I don't know what Budman look like but I've been hassled many times from the guy stamping my passport to the luggage scanner and them slyly remarking I brought in too much money without counting and than saying my electronics would have to be taxed.

khanh44 wrote:

Budman made a great point which reminds me the Vietnamese tend to hassle Viet Kieus or Asian looking for money and leave the white folks alone.

I don't know what Budman look like but I've been hassled many times from the guy stamping my passport to the luggage scanner and them slyly remarking I brought in too much money without counting and than saying my electronics would have to be taxed.

VK will always get hassled more than a Caucasians when going through customs. I see it every time I'm there.

OP - Contact the Vietnamese Embassy in Canada to get the right answer.

http://vietem-ca.com/

Adhome01 wrote:

Fred wrote:

ABCABCABC wrote:

Would this work?!

Unlikely, as few people would trust a total stranger with any large amount of cash.

ABCABCABC wrote:

Fred; ...........what is the wave of a big fat red flag for you?

You're suggesting the OP drop 50 grand in a stranger's account, not the first time you've suggested strangers put cash into your account.
That'll do for me.

You have to admit, it sounds really dodgy, even if it isn't.

Vietnamese communities in western countries have brokers that will "transfer" money this way. You give them the money and someone in Viet Nam will deliver it to the recipient. Up until 10 or so years 90% of Vietnamese sent money this way, and large sums are still sent this way.

We're still doing this way.
For the first time, you have to give money to the service guy/lady, then your family - no matter they are in VN or your the destination countries - will have money from their people at that place, maybe right away, maybe 1 day later. When you use that service for long time and they trust you, they even give your family money before they have your money. Normally those people are businessman who do their own business like shops, restaurants, shipping services, pawnshops,... They have their own way to do business between 2 countries. The money is not actually transferred.

You will pay the fee depend the sum of money you send and it varies from service houses. And please remember that they don't do this for everybody, only for people introduced from their trusted people or customers because police always look for these people for coffee money.

The only cons is you may loose money but it's really rare. They will ruin their other main businesses if they rob your money. You will only loose money when they loose their main business or something really bad happen to him. Bad luck for both.

They have contact info on internet, you can search. I can't introduce you mine because I don't know you.
My advice: only give money to people whom you trust or people who's trusted by your trusted people. Ask your family, they must have known some.

Adhome01 wrote:

VK will always get hassled more than a Caucasians when going through customs. I see it every time I'm there.

OP - Contact the Vietnamese Embassy in Canada to get the right answer.

http://vietem-ca.com/

I just got back in Vietnam today. Waiting at the custom line I notice those with green passports and the older Viet Kieus would slip money into their passport without being asked.

Just makes me mad because it effects all Vietnamese and turns the younger generation of Vietnamese from ever visiting Vietnam.

khanh44 wrote:

Adhome01 wrote:

VK will always get hassled more than a Caucasians when going through customs. I see it every time I'm there.

OP - Contact the Vietnamese Embassy in Canada to get the right answer.

http://vietem-ca.com/

I just got back in Vietnam today. Waiting at the custom line I notice those with green passports and the older Viet Kieus would slip money into their passport without being asked.

Just makes me mad because it effects all Vietnamese and turns the younger generation of Vietnamese from ever visiting Vietnam.

Most all of the older VK do this but many of the younger ones don't. From what I've seen it's kind of a crap shoot. I've known people who have been held up in customs for hours until paying and others that just go through. On more than one occasion I saw the customs agent return money that someone put in a passport. I often wonder if I wasn't there watching if they'd had kept it. Once I saw a VK, when told to to pay, start yelling at the agent so all could hear. He let her go.

Go to any Canadian banks (other then RBC because they concert your money in US before sending it to Vietnam), and transfer whatever amount to a Vietnamese account. The Vietnamese bank will convert it in dongs on arrival. It cost very little (like $30 for $50,000) and it is done within just a few days.

Vietnam is the only country I know of that doesn't ask you to complete a custom declaration form on any international flight arriving in Vietnam. The custom or immigration at airports NEVER ask questions about what you're carrying. You can bring with you whatever money you want. Just for you to declare anything you don't have to, will put you in line to a casher.

Hi Barber368,
Thank you for raising the issue.
Entry of cash is not much an issue, but it is advised to declare if you wish to officialize it. indeed, without it you may have problems either to deposit in a bank, or to get it back outside of Vietnam, or even to pay in Vietnam with it.
The procedure is free of charge and quick, but you have to explicitly ask for the form and have it stamped at luggage screening.

I just came to VN in early May with a like sum and picked up a form at the airport before clearing customs.  If you do not want to declare it then don't fill out the form.  If you are planning on bringing any back home, declare it as they will try to rip you off when you leave.

bclindsay wrote:

I just came to VN in early May with a like sum and picked up a form at the airport before clearing customs.  If you do not want to declare it then don't fill out the form.  If you are planning on bringing any back home, declare it as they will try to rip you off when you leave.

Reading this thread with interest as I brought in US$10K six months ago and filled out no forms. I would have if I'd known prior what's told in this thread. When I go back for a visit in October, I'm planning on taking back about 8 of the original 10 (still in the bank sleeves), distributed over my various pockets and carry-on bags, because I don't need it here.

In coming/going half a dozen times in the past two years, no one has EVER looked at me or my luggage other than the normal magnetometer/scanner after exiting Immigration. Exactly where in the process do they find the cash?

Hi JohnD,
It is after baggage collecting, at baggage screening, just before heading to exit hall.
Once more, noone will force you to anything/ search you for anything.
But if you are discovered bringing back out of Vietnam more than 5'000-7'000USD, you may have issues in case you did not declare at entry.
greetings
Xavier-Phuong

Xavier-Phuong wrote:

Hi JohnD,
It is after baggage collecting, at baggage screening, just before heading to exit hall.
Once more, noone will force you to anything/ search you for anything.
But if you are discovered bringing back out of Vietnam more than 5'000-7'000USD, you may have issues in case you did not declare at entry.
greetings
Xavier-Phuong

Thank you. I will limit my exposure and have bank statements in case they're needed.