Vietnam · Business Banking
Opening business and personal bank accounts, remote options, required documents, and fees.
AI-drafted, editorially reviewed. Confirm specifics with the official authority.
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.
- 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.
- 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)
- 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.
Government portals
- Viet Nam Government Portal — Central government portal for ministries, policy and legal documents.
- National Portal on Immigration — e-Visa application, visa extension and temporary residence cards.
- Vietnam Customs — Tariff schedules, import and export procedures and the customs single window.