If you decide to open a bank account in Vietnam, our specialists can assist with the creation of various types of accounts.
| Quick Facts | |
|---|---|
| Types of bank accounts | Personal, corporate accounts, non-resident, merchant, and savings accounts |
Document requirements for natural persons | Passport/ID, residence permit for foreign citizens, standard application form, valid e-mail address, other documents depending on the bank |
Documents requirements for companies | Shareholders’ ID/passports, company’s statutory documents, ID of a company representative, application form |
| Address requirements for foreign citizens (YES/NO) | YES. Also, validity of the passport is of minimum 6 months |
| Requirements to travel to Vietnam (YES/NO) | YES, you need to be in Vietnam to submit the documents |
| Remote bank opening possibility (YES/NO) | Online possibility to open the account while in Vietnam for foreign citizens |
| Timeframe for opening the account (approx.) | A few days |
| Legal representative requirement (YES/NO) | Not mandatory, but advisable |
| Services attached to the accounts | Online access to the account, attached debit/credit card, international money transfers, possibility to open the account in various currencies |
Table of Contents
Who can open a bank account in Vietnam?
You can open a bank account in Vietnam as a Vietnamese or foreign citizen without any restriction. Also, companies with local and foreign ownership can set up accounts for their corporate operations.
What are the types of bank accounts I can open in Vietnam?
Here are the main types of bank accounts one can open in Vietnam:
- personal bank accounts that can be opened by natural persons living and working in Vietnam;
- corporate bank accounts that are mandatory for all companies operating in Vietnam;
- non-resident bank accounts, which were recently introduced in Vietnam;
- merchant accounts that are mandatory for e-commerce businesses in Vietnam.
According to recent legislation, bank accounts can also be divided into local and foreign currency accounts.
What are the steps to open a bank in Vietnam in 2026?
They include:
- searching for a suitable banking institution;
- carefully prepare the necessary documents;
- make an appointment with a bank agent (there are cases where a meeting is mandatory);
- activate the account once it is created.
Is it possible to open a bank account as a non-resident in Vietnam?
Yes, it is. You can set up the account as a non-resident investor for indirect investment activities. Our local specialists can explain the terms for opening such accounts.
What documents do I need to supply when opening a bank account as a foreigner in Vietnam in 2026?
The following:
- identification papers;
- proof of residency;
- valid residence permit or work visa.
IMPORTANT! Foreign citizens can now use other forms of identification other than passports. They can also use IDs recognized in their home countries to open bank accounts in Vietnam. Also, in the case of electronic IDs, meeting with a bank representative is mandatory to confirm one’s identity.
What are the conditions for companies to open bank accounts in Vietnam?
According to the Company Law, a company is not required to have a local bank account if its transactions do not exceed 20 million VND; however, most enterprises decide to set up accounts for their operations.
The creation of a bank account for a company in Vietnam implies two procedures:
- the opening of a bank account in which the share capital will be deposited;
- the creation of an account for day-to-day transactions.
Also known as an investment or direct investment capital account, it must be created by companies with foreign ownership with local or foreign institutions that are allowed to provide foreign exchange services. These banks are authorized by the State Bank in Vietnam.
If you intend to set up a company in Vietnam and require assistance in creating a bank account, our local consultants can assist you. If you do not want to come to Vietnam during the initial stages of the procedure, we can offer representation with the chosen bank. We can also advise on how to choose a financial institution to work with.
We invite you to watch our video below:
What are the documents required to open a corporate bank account in Vietnam?
For companies, the following papers must be prepared by one of the representatives:
- proof of establishment in the case of foreign companies operating in Vietnam;
- identification papers of the company’s representative authorized to represent the business in relation to the bank;
- standard application form.
IMPORTANT! In this case, too, the representative must meet with a bank representative for identification if the ID provided by the representative is an electronic one. Also, in the case of company data stored on electronic means, Vietnamese banks will no longer be required to provide information they can access electronically.
Feel free to discuss these changes with our company formation agents in Vietnam, who can guide you accordingly.
If you need assistance in opening a bank account in Vietnam, please contact us. We can also assist with the company registration procedure in Vietnam.