Vietnam: Simplifying the application for opening of a corporate current account

07:54, 06/03/2019

Recently, the State Bank of Vietnam issued Circular No. 02/2019/TT-NHNN on amendments to Circular No. 23/2014/TT-NHNN, providing guidelines for opening and maintenance of current accounts at payment service providers.

The application for opening of a corporate current account has been amended and supplemented by Circular No. 02/2019/TT-NHNN of the State Bank of Vietnam. Specifically, the application includes:

- The application form for current account opening which is made using the form provided by the bank/foreign bank’s branch where the current account is opened;

- Documents proving that the organization opening the current account is duly established and legally operates, including: Establishment decision, operation license, enterprise registration certificate or other documents as regulated by law;

- Documents proving the capacity of the legal representative and decision on appointment of chief accountant or person in charge of accounting works (if any) of the organization opening the current account, and citizen identity cards or ID cards or unexpired passports of these persons.

View more details at Circular No. 02/2019/TT-NHNN of the State Bank of Vietnam, effective from March 01, 2019.

- Thanh Lam -

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