With deep knowledge of Vietnam’s banking system and corporate account requirements, Vanzbon provides end-to-end support. We help companies select the right bank, prepare the necessary documents, and streamline the process, ensuring a seamless account setup and legally compliant, efficient fund management.
Why Open a Company Bank Account in Vietnam?
Funds Security & Compliance
Manage finances, file taxes, and conduct cross-border transactions locally, ensuring adherence to Vietnamese financial regulations.
Convenient International Settlement
Offers multi-currency accounts, SWIFT transfers, and local payment systems, streamlining cross-border trade and global cash flow.
Enhanced Corporate Credibility
A local bank account demonstrates compliant operations and boosts trust among suppliers, partners, and customers.
Optimized Financial Management
Provides domestic and international account services, credit loans, and digital banking, supporting more efficient business finance operations.
Why Pre-Select a Bank?
Some banks require detailed company financials or in-person meetings with the legal representative.
If your business involves cross-border payments or forex settlements, choose a bank offering SWIFT transfers and multi-currency accounts.
Local banks typically take 5–15 working days for account setup, while foreign banks may take longer; planning ahead avoids operational delays.
Types of Corporate Bank Accounts
Businesses can choose the account type that aligns with their operational needs, ensuring efficient fund management.
| Account Type | Suitable Enterprises | Features |
|---|---|---|
| Basic Corporate Account | SMEs, startups | For daily operations, payroll, managing company cash flow |
| Import-Export Trade Account | Import-export businesses | Supports international settlement, SWIFT transfers |
| Foreign-Invested Company Account | 100% foreign-owned enterprises | Must comply with IRC requirements, may need additional approvals |
| Multi-Currency Account | Cross-border trading firms | Allows USD, EUR, CNY, and other currencies |
Recommended Banks for Opening a Corporate Account in Vietnam
In Vietnam, each bank offers distinct corporate financial services. Businesses should choose a bank based on operational needs, international transactions, account maintenance costs, and banking policies. Below are some major banks and their key features:
| Bank Name | Suitable Enterprises | Key Characteristics |
|---|---|---|
| Bank for Investment and Development of Vietnam (BIDV) | SMEs, local businesses | Wide branch network, low entry requirements, suitable for domestic operations |
| Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) | Import-export, cross-border e-commerce | Strong international payment capability, supports SWIFT transfers |
| Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) | Manufacturing, large enterprises | Diverse loan offerings, ideal for businesses needing long-term financing |
| HSBC | Foreign-invested, multinational | Global bank providing multi-currency accounts and cross-border fund management |
| Standard Chartered | Foreign-invested, fintech | Advanced digital banking services and international settlement support |
Vietnam Corporate Bank Account Opening Process
1、Select a Suitable Bank
● Choose a bank based on your business needs—e.g., BIDV, Vietcombank, VietinBank, HSBC, or Standard Chartered.
2、Prepare Required Documents
● Enterprise Registration Certificate (ERC)
● Investment Registration Certificate (IRC) (for foreign-invested companies)
● Company Charter (MOA)
● Legal Representative & Shareholders’ ID (Passport/ID Card)
● Proof of a local address in Vietnam (rental contract, etc.)
● Bank Account Application Form
3、Submit Application & Complete KYC
● The bank reviews company documents and conducts KYC due diligence. Some banks may require an interview or extra financial info from the legal representative or shareholders.
4、Account Approval & Activation
● Approval generally takes 5–15 working days, longer in special cases.
● Once activated, businesses can immediately access local and international payment features.
Challenges of Opening a Corporate Bank Account in Vietnam
In Vietnam, a corporate bank account is crucial for compliant operations. However, due to banking regulations, foreign-invested enterprise requirements, anti-money laundering (AML) rules, etc., the process can be complex—especially for foreign businesses. Potential challenges include:
1. Lengthy Account Opening Process
May take 2–4 weeks, with some banks requiring additional due diligence.
2. Strict Documentation
Full company registration info, legal representative details, and business scope are needed. Some banks may request financial statements or a business plan.
3. Varied Requirements Across Banks
Major banks each have different policies for company types, funding sources, and business models—choosing the right bank is key.
4. Additional Approvals for Foreign-Invested Enterprises
FIEs must first obtain an Investment Registration Certificate (IRC) before applying, making the process more complex.
5. Strict KYC (Know Your Customer)
Must prove legitimate funds, complying with AML and Counter-Terrorist Financing (CFT) regulations.
6. Restrictions for Certain Industries
Some sectors—like cryptocurrency, gambling, and financial investments—are heavily regulated or restricted from account opening.
7. Minimum Capital Deposits
Certain banks may require an initial deposit to support startup operations.
8. Remote Account Opening Limitations
Most banks require the legal representative to be present; only a few offer remote opening options.
Choose Vanzbon for Professional Account Opening Support
Vanzbon delivers customized bank account opening solutions covering local corporate accounts, foreign-invested enterprise accounts, and international payment/ trade settlement accounts, meeting various business needs.
Our Support Includes
Bank Selection Advisory
Recommending the most suitable bank (Vietcombank, BIDV, HSBC, Standard Chartered, etc.) based on your company type and business requirements.
Account Opening Documentation
Guiding you to compile all necessary paperwork, ensuring compliance with KYC and due diligence rules.
Bank Liaison & Application Submission
Directly coordinating with the bank, expediting approvals and minimizing delays.
Account Management Assistance
Providing consultancy on account maintenance, international payments, forex settlements, and capital management.
Why Choose Vanzbon?
Familiarity with Local Banking
Assisting companies in selecting suitable banks, streamlining the account opening process, and ensuring smooth approvals.
End-to-End Account Setup Support
From documentation preparation and application submission to account activation, offering a one-stop solution and avoiding delays.
Local Compliance Management
Guaranteeing adherence to Vietnam’s financial regulations, tax compliance, and AML requirements.
Cross-Border Financial Integration
Helping enterprises secure multi-currency accounts, international payment solutions, and trade financing.
application simpler and more efficient!
FAQs
Typically needed:
✅ Enterprise Registration Certificate (ERC)
✅ Investment Registration Certificate (IRC) (for foreign-invested enterprises)
✅ Company Charter (MOA)
✅ Legal Representative & major shareholders’ ID/passport
✅ Proof of a local address (rental agreement, etc.)
✅ Bank account application form
Some banks may require additional financial statements, business plans, or transaction records.
Yes. However, foreign investors must complete company registration (ERC) and obtain an IRC (for FIEs) first. Some banks also require the legal representative or main shareholders to appear in person.
Most banks need the legal representative or principal shareholders to be present for KYC. A few banks may allow remote account opening, depending on their policies.
Certain international banks (e.g., HSBC, Standard Chartered) might support remote opening, while local banks (e.g., BIDV, Vietcombank) usually require in-person identity verification.
Generally 5–15 working days, though it may be longer if the company is complex or due to bank-specific processes.
It depends on the bank. Most do not have a minimum deposit rule for corporate accounts, but foreign-invested or multi-currency accounts may demand an initial deposit. Check with the bank in advance.
Sectors under heightened scrutiny include:
- Cryptocurrency, gambling, forex trading
High-risk financial services
Sensitive import-export trades
Banks may request additional compliance documents or strict AML checks.
Companies must finish tax registration (TIN), VAT registration, and CIT enrollment. Some industries may need extra licenses.
The account can be used for daily transactions, international payments, SWIFT transfers, payroll, and tax settlement. Some banks allow multi-currency accounts and forex management.
We advise on bank selection, documentation preparation, direct bank communication, due diligence guidance, and account management services—ensuring smooth account opening and effective fund management.
