🇻🇳 Vietnam · Business Banking
Opening business and personal bank accounts, remote options, required documents, and fees.
Quick answer
Vietnamese banking is modernising fast with strong mobile and QR payments. Foreigners can open accounts, usually needing a passport and often a work permit or residence card; the State Bank of Vietnam regulates banks.
Vietnam banking for companies is supervised by the State Bank of Vietnam and usually separates ordinary operating accounts from foreign-investment capital accounts used for investment flows.
- Foreign-invested enterprises should confirm direct-investment capital-account requirements with a licensed bank before funding the company.
- Indirect portfolio investment is routed through a VND indirect investment capital account at an authorised bank.
- KYC, tax code, enterprise registration and authorised-signatory documents are normally requested for corporate banking.
Step-by-step
- 1
Confirm your status and documents
Foreigners generally need a passport and often a work permit, temporary residence card or proof of a Vietnamese address; requirements vary by bank.
- 2
Choose a bank and open in-branch
Pick a local or foreign bank; most verify identity in person and run KYC. Banking is modernising fast with strong mobile and QR / e-wallet payments.
- 3
Foreign-invested company: set up the right capital account
A foreign-invested enterprise confirms its direct-investment capital account (DICA) with a licensed bank before funding the company; indirect / portfolio investment uses a VND indirect investment capital account (IICA). Corporate opening also needs KYC, a tax code, enterprise registration and authorised-signatory documents.
- 4
Note the foreign-exchange rules
Vietnam regulates foreign-exchange transactions and moving currency abroad; check the rules before large transfers.
- 5
Activate the account and set up payments
Receive your card and mobile banking, register QR / e-wallet payments, and set up transfers and bill payments.
Checklist
- Passport
- Work permit, temporary residence card or proof of address
- Tax code + enterprise registration + authorised-signatory documents — corporate accounts
- Direct-investment (DICA) or indirect (IICA) capital account — foreign-invested companies
- Initial deposit (if required by the bank)
Official authorities
- State Bank of Vietnam
Central bank and banking regulator.
- Government Portal — indirect investment capital account
Official government explainer on indirect investment capital accounts.
Frequently asked questions
Can foreigners open a Vietnamese bank account?
Yes — typically with a passport and often a work permit, temporary residence card or proof of address; requirements vary by bank.
Are mobile payments common?
Yes — QR-code and e-wallet payments are widely used in cities alongside cards.
Are there currency controls?
Yes — Vietnam regulates foreign-exchange transactions and moving currency abroad; check rules for large transfers.
Official-information aggregation, not legal advice. Always verify on the authority's own site.