List of steps
(Total number of steps: 14)
Meet Management Authority for Southern Area Development (MASD)
Obtain certified copies of foreign documents  (2)
Obtain consular legalized copies of foreign documents  (3)
Obtain certified translation of documents  (2)
Obtain authenticated copies of passports or Vietnamese ID cards  (2)
Obtain investment certificate  (2)
Obtain authenticated copies of IRC  (2)
Open bank account  (1)

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Properties
 
14
Open bank account
(last modified: 12/19/2014)

Contact details

Entity in charge

Any commercial bank

Ho Chi Minh City

List of banks in Vietnam (not exhaustive) List of banks in Vietnam (not exhaustive)

Expected results

Bank Account Notification 01 - Bank Account Notification

Requirements

1. Bank account opening form
Bank account opening form (2 original )
2. 01 - Libre deuda de patente
Authenticated copy of Investment Certificate (original)
3. 01 - Libre deuda de patente
Authenticated copy of Passport or Vietnamese ID card of legal representative of company to be set up (original)

Costs

Fee and minimum deposit amount vary from bank to bank. But most banks request to keep a minimum account balance.Example: Bank for Investment and Development of Vietnam (BIDV) requires a minimum balance of VND 1,000,000 for Vietnamese dong account and 100 USD for USD bank account.

Time frame

Waiting time in queue: Min. 10mn - Max. 15mn
Attention at counter: Min. 5mn - Max. 10mn

Legal justification

1. Ordinance on Foreign Exchange No. 28/2005/PL-UBTVQH11
Ordinance on Foreign Exchange No. 28/2005/PL-UBTVQH11
Article 11
2. Ordinance amending and supplementing a number of articles of the Ordinance on foreign exchange control No. 06/2013/UBTVQH13
Ordinance amending and supplementing a number of articles of the Ordinance on foreign exchange control No. 06/2013/UBTVQH13
Article 1.4

Additional information

We give here the example of bank BIDV, for reference. Enterprises possessing foreign direct investment capital, foreign investors joining contract of business cooperation must open accounts of direct investment capital at an authorized credit institution. The contribution of investment capital, remittance of principal investment capital and profits and other lawful revenue must be effected via these accounts.
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