As a non-resident in Vietnam, a foreigner is welcome and has the freedom to open a bank account in the country. This is highly recommended for quick and convenient transactions, especially if you are planning to reside in Vietnam for more than six (6) months or directly invest to the Vietnamese market.

The process of opening a bank account in Vietnam

In general, the following documents are mandatory to be submitted when you are opening a bank account of your choice:

  • A valid passport
  • A stamped visa with validity of between 3 to 6 months (may vary from one bank to another)
  • A valid mailing address
  • A minimum amount of deposit (may vary from one bank to another)
  • A foreigner on a work visa may be required to provide a copy of their work contract
  • An application form from the bank

Types of bank accounts available in Vietnam

In Vietnam, there are two types of bank accounts that you can choose:

A Bank Account in Foreign Currency

A Bank Account in Foreign Currency (USD or EUR)

The main advantage of opening a foreign currency bank account is the easiness to transfer money to a foreign bank. Some foreigners choose to open this type of bank account for the need of money transfer to their home countries. In general, to be eligible to open a bank account in foreign currency, you are required to have a minimum deposit of 300 USD or 300 EUR.

A Bank Account in Local Currency

A Bank Account in Local Currency (VND)

The main advantage of opening a local currency bank account is that it facilitates transactions in restaurants, stores, shops and other places. Furthermore, you will not be charged for withdrawals in VND.In general, to be eligible to open a bank account in local currency, you are required to have a minimum deposit of 3,000,000 VND. It is highly recommended that the balance in your account should not be lower than VND 100,000, or else you will be charged approximately 1,000 VND per day.

Bank account setup in Vietnam with Cekindo

Thanks to our long-time partnership with several banking institutions in Vietnam, Cekindo can assist you in opening a bank account, whether you are a foreign individual residing in Vietnam or an investor establishing a company in Vietnam and wishing to open a corporate bank account. Opening a bank account with Cekindo can help you to choose the most suitable bank for your needs and to make the process much faster and easier.
Get in touch with us should you require further information on opening a bank account in Vietnam by filling in the form below.

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Selected Testimonials

cekindo-testimonials As a foreinger it is difficult to have a general overview on starting a company in Vietnam, particularly on handling costs, communicating expenses and fiscal. When I reached out to Cekindo, the team was responsive and efficient upon customer requests. Furthermore, the team’s English proficiency helped a lot during the consultation.
Christopher
Founder, Saphire
cekindo-testimonials Not only was the team professional throughout our interactions, they even went beyond their responsibilities to ensure that our company’s needs were fulfilled.
Sean Ching
Founder & CEO, Clap Tech Limited Company
Herewith we want to express our appreciation to PT. Cekindo Bisnis Grup and their team for all the support on medical devices services so far. We would like to take this opportunity to thank Cekindo for taking the time to listen to our needs. Whenever a need has arisen, we have always received their consistent, timely and quality support. We would not hesitate to recommend Cekindo team for any related activity or services.
My Linh Hoangova
Executive, ELC Group
cekindo-testimonials Cekindo has assisted our company with company registration and nominee director services. Everything has gone smoothly and we wish to have further support in the future. Thank you Cekindo!
Sophie
Founder, Shewutrade Group

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