From after the Lunar New Year in 2026, specifically from February 9th, Decree 340/2025/ND-CP will officially take effect, completely changing people's habits of buying gold bars.
To avoid the risk of property confiscation or hefty fines, every retail shopper should keep these three golden rules in mind.
1. Gold shop license: No "license card," absolutely no transactions.
The newest and strictest point of Decree 340 is the additional penalty: confiscation of all seized items. If you buy gold bars at a store that does not have a business license to buy and sell gold bars issued by the State Bank of Vietnam, the gold you just spent billions of dong on could be confiscated if inspected by authorities.
Before opening your wallet, ask the store to XEM their license or observe the signage/public transaction area. A regular jewelry store is only allowed to sell rings and necklaces; they are not permitted to sell gold bars without a separate license. Don't risk your entire Capital for a small price difference or convenience.
2. Smartphones with banking apps installed: Say goodbye to your heavy cash wallet!
The regulation imposing fines of 10 to 20 million VND for buying and selling gold without conducting transactions through a bank account serves as a stern warning against the habit of using cash. From February 2026, carrying a sack of cash to buy gold will no longer be a sign of "status" but rather a violation of the law.
Gold buyers need to ensure:
- The bank account has sufficient funds and a transfer limit appropriate for the value of the gold to be purchased.
- Smartphones with stable internet connections are required to perform on-the-spot money transfers.
- The transfer details should clearly state: "Purchase of [Brand Name] gold bars - Quantity [X] ounces".
Trading through an account not only helps you avoid penalties but also provides solid evidence to protect you in case of disputes regarding the quality of gold later on.
3. Citizen ID cards and electronic invoices: A shield protecting property rights.
Although the process of verifying gold transactions might make many people feel "reluctant," in the context of Decree 340 tightening regulations on product listing and disclosure (fines of 30-50 million VND for violations), a receipt is something you are required to bring home.
Make sure the store that issues the electronic invoice includes all the necessary information:
- The serial number of the gold bar (if available).
- Weight and gold content.
- The buyer's personal identification information matches their national identity card.
This invoice is the legal "birth certificate" for your asset, helping you prove the origin of the gold when you need to resell it or leave the country (avoiding fines of 80-100 million VND for illegally bringing gold into or out of the country).
The gold market is entering a "purification" phase. Adhering to the 3-step checklist above will not only help you become a wise and law-abiding investor, but it is also the only way to ensure that the gold you own is truly a safe asset, not a potential legal risk.
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