Business accounts: Vietnam

Updated 8 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A business account in Vietnam is opened for a company registered in the country. A foreign investor first receives an investment registration certificate, then an enterprise registration certificate, and only then does the company open accounts. A foreign-invested company has at least two. The first is a dedicated direct investment capital account: under State Bank of Vietnam rules, capital contributions, foreign loans and profit repatriation all go through it. The second is an ordinary operating account in dong and foreign currency for day-to-day payments.

Under the Law on Enterprises, charter capital must be paid within 90 days of company registration, and only through the direct investment capital account. Money brought in around it cannot later be sent out as dividends. Payments inside Vietnam are made in dong: as a general rule local companies may not price or pay each other in foreign currency. The rate is about 25,970 dong per US dollar.

Documents for the bank

• Investment registration certificate and enterprise registration certificate.
• Charter, appointment of the legal representative and chief accountant, specimen signatures and seal.
• Passports of the representative and signatories; for foreigners, a visa or temporary residence card.
• The foreign founder's documents with consular legalisation or an apostille and a Vietnamese translation. The Apostille Convention has applied to Vietnam since 11 September 2026: documents from member states need an apostille, while consular legalisation remains for countries that objected to Vietnam's accession.
• Ultimate owners and a business description.

Timeline step by step

1. Investment registration certificate - about 15 days by law, longer for conditional sectors.
2. Enterprise registration - about 3 working days.
3. Direct investment capital account and operating account - usually 1-2 weeks after bank checks.
4. Charter capital contribution - within 90 days of registration.

Who issues approvals

The investment registration certificate is issued by the provincial Department of Finance, which absorbed the former departments of planning and investment in 2025, or, for projects in industrial, export processing and high-tech zones, by the zone's management board. A foreign-invested company files financial statements audited by an independent auditor every year: without them the bank will not release dividends abroad. Accounts and tax returns follow Vietnamese accounting standards, so a local accountant is needed from the first month.

Taxes and mandatory rules

• Corporate income tax - 20%, with incentives for certain sectors and zones.
• VAT - 10%, temporarily cut to 8% for a range of goods and services.
• Profit is repatriated through the direct investment capital account after taxes are paid and audited annual accounts are filed.
• Corporate deposits are not covered by state deposit insurance.

Common reasons for refusal and delay

• Capital paid outside the direct investment capital account or later than 90 days.
• Founder documents without legalisation and translation.
• The legal representative cannot attend the bank in person or their visa is expiring.
• Unclear ultimate owners or links to sanctioned persons.

What we do

We prepare investment and enterprise registration, legalise and translate the founder's documents, open the direct investment capital account and operating account, make the capital contribution on time and support the first profit repatriation. We quote after a short consultation.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · Country taxes · All country programs

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