Generally, all foreign investors with established presences in Vietnam will need to open a bank account in order to conduct their business in Vietnam.
Foreign investors in Vietnam may open accounts denominated in Vietnamese dong, and may also open accounts denominated in United States dollars and other foreign currencies.
Banks include domestic commercial banks, state-owned commercial banks, 100% foreign-owned subsidiary banks, foreign bank branches and cooperative banks.
The Law on Credit Institutions allows commercial banks to provide a wide range of products and services, from traditional financial products to fund management and securities.
In accordance with Vietnam’s commitments to the WTO, there is now virtually no difference in the treatment of wholly-owned foreign banks established in Vietnam and local Vietnamese banks.
If you would like further information on Banking and Foreign Exchange in Vietnam, please either email to our Partners at: info@sblaw.vn or call to our Office:
- Ha Noi Office: +84 (4) 62 62 0246
- HCM Office: +84 (8) 35 208 101.
