Opening a Bank Account in Vietnam

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, especially if you are planning to reside in Vietnam for more than six (6) months.

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
  • 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 rom the bank

Types of bank accounts available in Vietnam

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

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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 or you have a foreign company and wish 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

Selected Testimonials

  • Besides being understanding, patient and kind; Cekindo was extremely efficient and practical as well and guided me every step along the way. I would highly, highly recommend anyone who is either in urgent or not-so-urgent need of obtaining a visa for Vietnam to work with Cekindo. It has been a privilege doing business with them and I know who will be my agents in the future!

    Gauthier D'haenens
  • Cekindo helped us to cover important quarterly reporting when our Chief Accountant suddenly resigned. They did all the necessary paperwork. Fast and reliable.

    Jozef M.
    CEO of Finchef Co., Ltd.
  • 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
  • CFLD_Max-Yang

    After comparing several consultants, I found Cekindo is a international and professional organization with good understanding of local market. Cekindo helped our company to set up our first Indonesian entity, and also helps with day-to-day operation.  Cekindo showed high level of professionalism. Jump start the business in Indonesia, take care of routine process, therefore we can focus more on our core business.

    Max Yang
    President, Indonesian Region, China Fortune Land Development Co., Ltd.
  • Cekindo handled business visa for our new colleague promptly and made the start of our company in Vietnam easier and faster. I particularly enjoyed communication with the consultant, who advised the best solution for us and was all the time available to answer any questions. She made sure that all the documents were collected and prepared on time and we got great support during the whole process. Thank you Cekindo and I hope to cooperate again in the near future!

    Ivana Bartonkova
    Marketing and HR director of Port Cities Vietnam

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