Different Types of Bank Accounts in Vietnam
1
Direct Invesment Capital Account (DICA)
Who is Required:
- Essential for FDI (Foreign Direct Investment) Enterprises
- Mandatory for Foreign Investors in Business Operation Contracts
- Required for Foreign investors in Public-Private Partnership Contract projects when the project is in the pre-establishment phase
Purpose and Use:
- Aids in the injection of initial capital
- Facilitates receiving foreign loans
- Allows for the transfer of profits overseas
- Supports capital expenditure originating from countries outside Vietnam
Dossier Needed:
- Bank Account Opening Form
- Written Justification
- Legal Status Documents
- Certificate of Off-Shore Investment
- Investment Approval Documents
- Investment Capital Contribution Plan
- Document for Opening Off-Shore DICA
- Enterprise Registration Certificate & Investment Registration Certificate
2
Indirect Investment Capital Account (IICA)
Who is Required:
- Mandatory for Foreign Investors engaged in indirect investments
- Required for foreign investors in non-listed Vietnamese enterprises and securities trading
Purpose and Use:
- Designed for indirect investment operations in Vietnam
- Enables participation in the Vietnamese securities and capital markets
- Allows for diverse investments including bonds, stocks, and other financial instruments
Dossier Needed:
- Bank Account Opening Form
- Written Justification
- Legal Status Documents
- Certificate of Off-Shore Investment
- Investment Approval Documents
- Investment Capital Contribution Plan
- Document for Opening Off-Shore DICA
- Enterprise Registration Certificate & Investment Registration Certificate
3
Local Business Account
Who is Required:
- An organization is a legal entity (limited liability company, joint stock company, etc.)
- Private enterprise (owned by an individual who is responsible with all his or her own assets for all activities of the enterprise)
- Business households (established by an individual or household members who are responsible for all their assets for the household's business activities) and other organizations
Estimated Time:
- Depends on the bank, can be as short as 1 hour to 1 working day
Dossier Needed (can be submitted online):
- Enterprise Registration Certificate
- CCCD/ID card Legal representative of account holder & Chief Accountant/Person in charge of accounting, authorized person of KTT/NPTKT accountant (if authorized).
- Certificate of seal sample registration for customers who are businesses established before July 1, 2015
- CCCD/ID card of the ultimate beneficial owner
- Minutes/Resolution/Decision to appoint the position of Chief Accountant/Person in charge of accounting or contract to hire Accounting services
4
Local Personal Account
Who is Required:
- An organization is a legal entity (limited liability company, joint stock company, etc.)
- Private enterprise (owned by an individual who is responsible with all his or her own assets for all activities of the enterprise)
- Business households (established by an individual or household members who are responsible for all their assets for the household's business activities) and other organizations
Estimated Time:
- Depends on the bank, can be as short as 5 minutes
Dossier Needed (can be submitted online):
- Phone number
- ID card
List of Recommended Banks
Local Banks
- Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank)
- Vietnam Technological and Commercial Joint Stock Bank (Techcombank)
- Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank)
- Bank for Investment and Development of Vietnam (BIDV)
- Military Commercial Joint Stock Bank (MBBank)
- Vietnam Bank for Agriculture and Rural Development (Agribank)
- Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank)
- Asia Commercial Joint Stock Bank (ACB)
- Asia Commercial Joint Stock Bank (ACB)
- Vietnam Joint Stock Commercial Bank for Private Enterprises (Viet Capital Bank)
Foreign Banks
- Standard Chartered Bank
- HSBC (Hongkong and Shanghai Banking Corporation)
- ANZ (Australia and New Zealand Banking Group)
- Shinhan Bank
- CIMB Bank
- Bangkok Bank
- United Overseas Bank (UOB)
- Maybank (Malayan Banking Berhad)
- CTBC Bank (Chinatrust Commercial Bank)
- Deutsche Bank
Contact Us
Address
No. 29, Street 55, Thao Dien Ward, Thu Duc City, Ho Chi Minh City
Contact
+84 981111811
Opening Hours
Mon - Fri
9:00 am – 6:00 pm
Saturday
9:00 am – 12:00 pm
Sunday
Off