Opening a corporate bank account is one of the first operational steps after an FDI company receives its Investment Registration Certificate (IRC) and Enterprise Registration Certificate (ERC). Not yet incorporated? See our guide on choosing between a Representative Office, Branch, or Subsidiary in Vietnam. in Vietnam. Without a bank account, you cannot receive capital contributions, pay suppliers, run payroll, or repatriate profits. Getting this step right — and choosing the right bank — has a meaningful impact on your daily operations.
Types of Bank Accounts for FDI Companies
Direct Investment Capital Account (DICA)
All FDI companies must open a Direct Investment Capital Account (tài khoản vốn đầu tư trực tiếp) at a licensed bank in Vietnam. This account is used exclusively for capital-related transactions:
- Receiving capital contributions from foreign investors
- Repatriating profits and dividends to overseas investors
- Repaying offshore loans
- Transferring capital upon dissolution or liquidation
The DICA must be denominated in a foreign currency (typically USD) and is governed by the State Bank of Vietnam’s (SBV) foreign exchange regulations.
VND Operating Account
In addition to the DICA, FDI companies open one or more Vietnamese dong (VND) operating accounts for day-to-day business transactions — paying suppliers, processing payroll, and paying taxes. These accounts are standard current accounts and can be opened at any licensed bank.
Foreign Currency Operating Account (Optional)
If your business regularly transacts in foreign currencies (for import payments, service fees, etc.), you may open a foreign currency operating account. This requires an additional SBV registration step for certain transaction types.
Required Documents
The document requirements vary slightly by bank, but typically include:
- Investment Registration Certificate (IRC) — original and certified copy
- Enterprise Registration Certificate (ERC) — original and certified copy
- Company charter (điều lệ công ty) — certified copy
- Minutes of the Board of Members/Board of Directors meeting authorising the account opening
- Resolution authorising the authorised signatory
- Passport copies of all legal representatives and authorised signatories
- Specimen signatures of authorised account operators
- Company seal (if the company uses a seal)
All documents in a foreign language must be accompanied by notarised Vietnamese translations.
Recommended Banks for FDI Companies in Vietnam
International Banks
- HSBC Vietnam: Strong international remittance capabilities, English-language service, widely used by multinationals
- Standard Chartered Vietnam: Preferred by regional treasury teams for cross-border cash management
- Citibank Vietnam: Excellent for multinational cash pooling and global cash management
- ANZ Vietnam: Strong in trade finance and FDI capital account management
Leading Vietnamese Banks
- Vietcombank: The most widely used by FDI companies for VND operations; strong branch and ATM network; competitive FX rates
- BIDV: Good for manufacturing FDI in industrial parks; strong relationship with local tax and customs authorities
- Techcombank: Modern digital platform; popular with tech and services companies
- VPBank: Competitive for SME FDI; responsive service teams
Timeline for Account Opening
| Step | Estimated Time |
|---|---|
| Document preparation and notarisation | 3–5 business days |
| Bank review and approval | 3–7 business days |
| Account activation and online banking setup | 2–3 business days |
| Total | 8–15 business days |
International banks may require additional KYC (Know Your Customer) due diligence, which can extend the timeline to 3–4 weeks for first-time customers.
SBV Registration for the DICA
Once the DICA is opened, the bank will handle the account registration with the State Bank of Vietnam on your behalf. However, you must also register your offshore loan agreements with the SBV separately — this is a common oversight that causes difficulties when repaying foreign loans or repatriating dividends.
Practical Tips for FDI Companies
- Open the DICA before transferring capital: Your investors should not transfer capital contributions until the DICA is opened — the capital must flow into this account to be legally recognised as registered capital.
- Maintain separate DICA and operating accounts: Commingling capital and operating transactions on the DICA can create foreign exchange compliance issues during audits.
- Appoint at least two signatories: This ensures continuity when key personnel travel or leave the company.
- Set up online banking early: Vietnam’s banking apps have improved significantly — configure online banking from day one to speed up payment approvals.
How TrustlineAX Can Help
TrustlineAX guides FDI clients through every step of the bank account opening process — from preparing the required document package to accompanying you to the bank and liaising with SBV on capital account registration. We help you choose the right bank for your specific operational profile and ensure your capital is properly structured from the outset.