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To open a bank account in Vietnam for a company with foreign owners usually means opening two kinds of account. The investment capital account (tài khoản vốn đầu tư) carries money between investors and company: State Bank of Vietnam (SBV) Circular 38/2026/TT-NHNN, in force since 18 August 2026, requires cash capital contributions to arrive by transfer into it (Article 4) and sends profits remitted abroad out through it (Article 12). An ordinary payment account in dong handles salaries, suppliers and tax.
Article 6 names the companies that open one: those set up by foreign investors, those more than 50% owned by foreign investors after buying in, and PPP project companies. Each may hold one foreign currency and one dong investment capital account, both at the same authorised bank (Article 7).
Since 1 December 2025, Circular 17/2024/TT-NHNN as amended by Circular 25/2025/TT-NHNN requires a bank opening a company account at the counter to meet the legal representative in person and match their biometric data. Listed companies, Fortune Global 500 members, state bodies, credit institutions and customers a bank selects under its own risk criteria are exempt. Electronic opening also exists, built on the legal representative’s biometrics and electronic signature.
Since 1 July 2025 a company account cannot be used for electronic withdrawals or payments until those biometrics have been compared. As every Vietnamese company needs a legal representative residing in Vietnam, that resident is normally the person the bank sees; see company formation in Vietnam.
| Bank | SBV licence category | What its own pages state |
|---|---|---|
| HSBC Bank (Vietnam) | Wholly foreign-owned bank | Capital account for foreign direct investment entities to receive equity and overseas loans and pay dividends; documents pre-checked by e-mail or phone |
| Standard Chartered Bank (Vietnam) | Wholly foreign-owned bank | Capital account for FDI companies and foreign companies |
| Shinhan Bank Vietnam | Wholly foreign-owned bank | Capital accounts in dong, US dollars, euros, yen or Swiss francs, all at one bank |
| UOB Vietnam | Wholly foreign-owned bank | A capital account held at another bank is closed first, with a closing letter and statement |
| SMBC, Ho Chi Minh City Branch | Foreign bank branch | Checklist of 13 March 2026 for foreign-invested enterprises; legal representative’s biometrics mandatory |
| Techcombank | Joint stock commercial bank | Capital accounts in dong and foreign currency, opened in four working hours once the file is complete and valid |
Several pages still use the pre-August 2026 name, direct investment capital account. These are options in the market as each bank describes them; any bank may decline.
Deposit Insurance of Vietnam (DIV) works under the Law on Deposit Insurance No. 111/2025/QH15, in force since 1 May 2026, which insures only dong deposits of individuals. A company’s balances have no statutory cover. Singapore’s scheme, by contrast, includes companies; see our Singapore business bank account guide. The State Bank licenses the banks and manages foreign exchange. Vietnam is outside SEPA, so euro payments from Europe arrive as international transfers.
A ready-made Vietnamese company may already hold an account. It belongs to the company and stays with it, but the bank re-checks the new owner and legal representative and may keep the account, ask for more or close it. A foreign buyer taking the company above 50% brings it within Article 6, so it opens an investment capital account. A non-resident buyer pays a resident seller in dong through an investment capital account (Articles 10 and 13); between two non-residents the payment runs outside one. Our guide to shelf companies with bank accounts describes the review.
We can supply a ready-made company or form a new one, prepare the bank file and, where we have a working contact at a suitable bank, introduce you; the bank alone decides. Tax and ownership rules are in our Vietnam business guide.
The owners can live abroad, but the company needs a legal representative residing in Vietnam, and a bank opening an account at the counter must meet that person and match their biometrics. Foreign shareholders are identified from their passports, which UOB asks for, and HSBC Vietnam pre-checks documents by e-mail or phone before the signed form arrives.
Yes, since 18 August 2026. A company registered before its IRC may open one foreign currency and one dong investment capital account at the same bank, used only to receive charter capital and interest, pay legitimate pre-investment costs and refund capital if the IRC is refused. After the IRC, accounts in other currencies may be added.
No. The Law on Deposit Insurance 2025 covers only dong deposits of individuals, up to VND 350 million per person per participating institution since 13 July 2026 under State Bank Circular 05/2026/TT-NHNN. Company deposits, and any deposit in foreign currency, have no statutory protection.
The State Bank’s payment account rules set no deadline. Techcombank states four working hours for a capital account once the file is complete and valid; the other banks compared give no figure. Certified copies, translations and the legal representative’s in-person check all have to be ready before that clock starts.