Open an account in Vietnam
Commencing an account in Vietnam for a foreigner can be comparably swift, but it must be considered that there exist disparities in prerequisites amidst financial institutions and even subdivisions of the identical bank. In recent years, the fiscal domain has burgeoned expeditiously in terms of magnitude and caliber of amenities, which plays a pivotal part in augmenting the enduring ascension of the nation's wealth.

Before inaugurating a banking ledger in Vietnam (be it a corporate ledger or an individual's ledger in Vietnam), bear in mind that the majority of banks have implemented rigorous patron authentication regulations. Banking, chiefly internet-based banking, is fairly secure, especially nonnative financial institutions that possess contemporary systems with enhanced functionalities.

How to open a bank account for a business in Vietnam?

Commencing a mercantile ledger in Vietnam is feasible via dual categories: capital investment ledger and transactional ledger. The anterior is employed for the reception and transmission of the invested sum, whereas the latter is employed for diurnal dealings.

To open a business account in Vietnam, you need to prepare the following documents:

  • Interrogatory for inaugurating an account for an overseas enterprise in Vietnam. By and large, this questionnaire encompasses particulars regarding the enterprise (appellation, principal domicile, juridical domicile), specifics regarding the juridical spokesperson of the company, personal identification card of the bookkeeper, autograph of the account possessor, and autograph of the juridical spokesperson.
  • Verdict concerning the origination of the enterprise, trade authorization, commerce enrollment credential.
  • Papers affirming the existence of a juridical or accredited proxy of the enterprise with a current identity certificate/travel document.
If you want to open an account for a non-resident company in Vietnam remotely, please note that since October 2019, the rules for opening bank accounts for non-residents in Vietnam have been tightened by the government. To learn more about this issue, it is worth contacting competent specialists and ordering a consultation on opening an account for a non-resident company in Vietnam.

In which currency can a non-resident open a bank account in Vietnam?

Account in foreign currency (usually in USD or EUR)

Account in local currency (VDN)

The principal benefit of inaugurating a non-native currency depository institution in Vietnam is the simplicity of remitting funds to a non-native repository institution. Customarily, to commence a non-native currency ledger in Vietnam, you necessitate a minimum pledge of 300 United States dollars or 300 Euros.

The principal benefit of initiating a fiscal institution account for trade in Vietnam in native coinage is that it expedites localized dealings. To initiate such an account, a minimum down payment of 3,000,000 VND or 132 US dollars is necessitated.

Which bank to open an account in Vietnam for a foreigner?

Open an account with MSB in Vietnam
The Vietnam Oceanic Mercantile Joint Capital Stock Bank was instituted in 1991. The bank's mesh is burgeoning swiftly. MSB Vietnam is acknowledged as one of the pioneering banks with a seasoned transaction blueprint in Vietnam. The bank is enmeshed in rendering mercantile banking amenities for solitary patrons (advancements, safeguard repositories, acknowledgment slips, pecuniary transferences, and sundry) and mercantile banking amenities for institutional patrons (pecuniary deposits, advancements, acknowledgment slips, pecuniary amenities, sureties, commodities-interchange amenities, and sundry).
Open a bank account with UOB (Vietnam)
UOB is among the foremost financial institutions in Asia with a far-reaching labyrinth of over 500 bureaus in 19 nations across Asia Pacific, Europe, and North America. In August 2018, UOB Vietnam emerged as the fifth progeny instituted in Asia. The bank proffers a spectrum of individual and institutional pecuniary provisions to both Vietnamese and foreign patrons.
Open an account with SHB Hanoi in Vietnam
It is a pecuniary establishment that furnishes mercantile bankings aids for persons and enterprises. Its commodities for singular patrons encompass singular advances like dwelling mortgage advances, habitation betterment advances, mortgage exchange, erudition advances for overseas study, automobile advances and advances affirmations, and singular deposits like contemporary, frugalities reckonings, era deposits, and warrants of deposit. Commodities for corporate patrons encompass contemporary and frugalities reckonings, term deposits, dealings finance, document diminution, corporate advances, remuneration assurances and capital remittances.

Opening a bank account for a foreign company in Vietnam

Foreigners wishing to open an account for an offshore company in Vietnam should take note that there are only a few loyal banks that are willing to consider such requests: BIDV, MB, ACB, UOB, EAB. Accounts are available in USD, EUR, VND (other currencies on request). These banks have no deposit requirements and no transaction restrictions.

It is possible to open an account for a non-resident company in Vietnam remotely, but it is quite a complicated procedure. That's why it is worth contacting specialised experts who will accompany you at all stages of this process. List of documents for those who are interested in opening an account for a foreign company in Vietnam in one of the above-mentioned banks:

  • Attestation of Incorporation - in primordial (to be repossessed after commencement of account);
  • records concerning the designation of the overseer + regarding the dispensation of equities;
  • replicas of the overseer's credentials;
  • credentials reproductions of the ledger custodian (overseer/individual with authority of procuratorship).
* Annotation. It is compulsory to possess the corporate records validated by the Vietnamese embassy.

Fees of banks when opening an account for a non-resident company in Vietnam:

  1. Fee for international outgoing transactions 0.2% * transfer amount (min 10 USD, max 10 000 USD) + 5 USD (telegraphic fee) + 10 USD (telegraphic transfer) + 25 USD (correspondent bank's fee, may be withheld from the recipient).
  2. Fee for international incoming transactions 0.05% * transfer amount (min 5 USD, max 100 USD) + 10 USD (telegraphic transfer).


This exposition elucidates the procedure for inaugurating a financial repository for an overseas enterprise in Vietnam. Each monetary institution harbors its distinct enrollment protocol, nevertheless, the records and routines are conventionally akin. To procure supplementary enlightenment regarding the prerequisites for commencing a non-domiciled ledger in Vietnam, establish communication with YB Case connoisseurs.

Our adepts shall furnish you with tailored counsel concerning fiscal statutes in Vietnam and offer comprehensive backing in inaugurating a ledger for an overseas enterprise in a Vietnamese monetary establishment.


How do I open an account in Vietnam?

To inaugurate a commercial ledger in Vietnam, you must proffer to a financial institution for evaluation:

  • Petition parchment.
  • Intelligence concerning the firm (appellation, central bureau, lawful domicile), specifics of the legal proxy of the firm, identification scroll of the principal, endorsement of the individual empowered to supervise the ledger.
  • Determinative verdict regarding the institution of the corporation, trade patent, trade enrollment credential.
  • Papers validating the existence of a statutory or commissioned delegate with a subsisting identity scroll/travel permit.

Observation. Commencing October 2019, it has turned arduous to inaugurate a financial institution deposit for an alien in Vietnam, as the scrutiny prerequisites for petitioners have been constricted.

In which bank in Vietnam can a foreigner open an account?

An alien may inaugurate an account in Vietnam with the ensuing financial institutions:

  • MSB Vietnam.
  • UOB Vietnam.
  • SHB Hanoi Vietnam.

What are the bank charges when inaugurating an account for a foreign-dwelling firm in Vietnam?

  • Charge for global egress exchanges 0.2% * remittance magnitude (minimum 10 USD, maximum 10,000 USD) + 5 USD (cable charge) + 10 USD (cable transmission) + 25 USD (delegated bank's levy, may be restrained from the beneficiary).
  • Levy for worldwide ingress exchanges 0.05% * remittance magnitude (minimum 5 USD, maximum 100 USD) + 10 USD (cable transmission).
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