Opening a Bank Account in Vietnam

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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 setting up a bank account in Vietnam

In general, the following documents are mandatory to be submitted when you are setting up 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:

foreign currency - icon
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.

 

local currency - icon
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.

Contact Our Consultant

Please send your question(s) by filling in this form. Our consulting team will quickly answer you via E-mail. Feel free to visit our office to get more details about our services.

Selected Testimonials

ryker-logo

Cekindo has been a great help in the incorporation of our company in Vietnam by providing useful information and clear explanation on complicated regulatory procedures. The team went the extra mile by helping us to clarify on other matters pertaining to Vietnam, and proactively helped us to liaise with the respective internal functions on our queries and responded promptly.

Louis Koh Kay Boon
CEO, Ryker Company Limited
Vietnam-import-export-company-logo

It was our pleasure to deal with Cekindo. Indeed, the company with its specialised team was at the highest level of professionalism in dealing with customers and was serious in providing assistance and advice. Many thanks to Cekindo and all the team members. I wish you lasting success in the years to come.

Amer
CEO, Vietnam Family Import Export Company Limited
Shewutrade logo

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
Adgorithmics logo

Cekindo Vietnam’s team has always been very responsive and helped us with sense of urgency. We have never been disappointed with Cekindo’s services.

Yasuhiro
Founder, Adgorithmics
cekindo-testimonials

I have successfully received the TRC permit for me and my family, thanks to Cekindo team’s dedication and perseverance. We had some bumps along the way but we got it done, good job. I worked with different consulting companies in the past, outside of Vietnam, Cekindo is one of the most responsive and agile.

Nadav Sarel
Founder & CEO, Telestar Limited Liability Company

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