FDI ENTERPRISES OPENING INVESTMENT CAPITAL ACCOUNTS IN VIETNAM: KEY ALERT FROM JULY 1, 2025

According to new regulations by the State Bank of Vietnam, starting from July 1, 2025, all magnetic stripe (magstripe) ATM cards will be disabled across the banking system.

This affects not only millions of individuals but also puts pressure on FDI enterprises opening investment capital accounts in Vietnam, especially those using banking services to pay salaries, taxes, or manage operations.

FDI ENTERPRISES OPENING INVESTMENT CAPITAL ACCOUNTS IN VIETNAM: KEY ALERT FROM JULY 1, 2025

WHY FDI ENTERPRISES OPENING INVESTMENT CAPITAL ACCOUNTS IN VIETNAM NEED TO ACT NOW

While card deactivation seems like a personal issue, it unveils broader systemic risks.Many FDI companies are using the wrong types of accounts (e.g., payment accounts instead of capital accounts), leading to:

• Legal risks when transferring capital or profit abroad

• Delays in salary payment or tax obligations

• Violations of local investment laws

COMMON MISTAKES FDI BUSINESSES MAKE

• Not opening a Direct Investment Capital Account (DICA)

• Legal representative not present in Vietnam to sign documents

• Power of attorney not consular legalized

• Lack of translated and notarized documents delaying progress

SOLUTIONS FOR FDI ENTERPRISES OPENING INVESTMENT CAPITAL ACCOUNTS IN VIETNAM

To ensure smooth operations:

• Review current account status and legality

• Open a DICA in accordance with legal requirements

• Standardize local payment accounts for tax/salary

• Prepare full legal documentation, especially if using foreign power of attorney

Instead of struggling with procedures, FDI enterprises opening investment capital accounts in Vietnam can choose Vinex for a full-package solution:

• Consulting and setting up the correct capital/payment accounts

• Supporting consular legalization & foreign-authorized documentation

• Organizing bulk chip card replacement for employees

• Structuring a complete legal-financial-HR system from the start

Timely compliance with regulatory changes is a must if you want smooth business operations in Vietnam. Contact Vinex today to receive professional guidance on opening investment capital accounts and building a compliant business infrastructure.