What Documents Do Foreigners Need to Prepare to Open a Bank Account in Vietnam?

At Section 7, Article 1 of Circular 02/2019/TT-NHNN guiding the dossier for opening a payment account as follows:

For individual payment accounts:

- Payment account opening application form as per the bank's template, foreign bank branches where the account is opened and in accordance with the provisions in Clause 1, Article 13 of this Circular;

- Citizen identification card or identity card or valid passport, birth certificate (for Vietnamese citizens under 14 years old), entry visa or documents proving entry visa exemption (for foreign individuals) of the account holder;

- In case a person opens a payment account through a guardian, legal representative, in addition to the documents mentioned in Points a and b, Clause 1 of this Article, the payment account opening dossier must also include a valid citizen identification card or identity card or passport of the guardian, legal representative and documents proving the legal representative status of that person for the account holder.

=> According to the aforementioned regulations, foreigners opening an account at a Vietnamese bank need the following documents:

- Payment account opening application form as per the bank's template;

- Entry visa or documentation proving entry visa exemption.

Currently, there are no specific regulations on which banks can open payment accounts for foreigners. Therefore, you should proactively research and contact the banks for further guidance.

Respectfully!