What is remittance?Remittance is foreign exchange sent to that country by a person of ethnic origin with a country but residing abroad.
The sender of foreign exchange to the home country is considered as a remittance, which may or may not hold nationality but must have ethnic origin with the foreign exchange receiving country. Assets considered as remittances include many types such as: foreign currency, valuable papers such as foreign currency, international standard gold, etc. (Xf. Foreign exchange). Vietnamese law allows Vietnamese living abroad to send home an unlimited amount of foreign exchange and tax-free.
The importance of remittances
In addition to knowing what remittances are, you also need to know the importance of remittances. This is very important money for many countries. Especially for developing countries like Vietnam. The importance of remittances is reflected in the following points:
- Contributing to offset the trade balance deficit, helping to alleviate hunger and improve the living standards of a part of remittance recipients.
- Create more resources for the Vietnamese economy. Reducing the imbalance in the balance of payments with foreign countries. Improve foreign exchange reserves and reduce pressure on exchange rate.
- Minimize dependence on foreign capital as well as the pressure of the US dollar exchange rate.
- Contributing to creating more jobs, thereby stabilizing the lives of a part of the population by investing and doing business.
Remittance service at U-Live
The service of receiving money from abroad is provided by U-Live with a professional, fast, convenient, safe and completely reputable service.
Conditions for remittance
What are the conditions for remittance? To be able to transfer remittances to Vietnam, you need to meet the following simple conditions:
- Proof of identity such as identity card, citizen identification, passport.
- In addition, you also need to provide documents such as birth certificate, household registration.
- Documents proving the purpose of overseas remittance.
- Besides, you also need to provide full recipient information such as: Recipient’s full name, receiving account number, receiving bank’s name.
- Anyone can make a money transfer to Vietnam for family and relatives and friends. At the same time, senders and recipients only need to have legal documents, no need to declare what the purpose of remittance is.
- Procedures for remittance of remittances are also very quick, simple and not too complicated or troublesome.
The reason you should choose the remittance service at U-Live
- Free payment;
- There is no limit to the amount transferred.
- Not subject to income tax.
- Customers can receive VND or USD.
- Money received within minutes of sending.
- Safe with money transfer codes.
- 24/7 personalized customer support service.
If you are in need of remittance service at U-Live, please contact us using the information provided below.
Address: 141 Carondelet plaza , Clayton , MO 63105 , USA
Phone: +1 314 452 7023 (WhatsApp, Viber, Telegram, Zalo)
Email: ulive.llc2020@gmail.com
Website: Ulive-llc.com