Opening a bank account in Vietnam as a foreigner can be a bit more complex due to the specific requirements and paperwork involved.

For foreigners and companies new to Vietnam, understanding the financial environment and its banking procedures may present some difficulties. The process of managing finances can be more intricate than expected for those who aren’t yet familiar with how the local system operates.

Grasping the process of opening a bank account in Vietnam is essential for those aiming to build a financial presence in the country. Whether you're an expat settling in Vietnam, an international investor, or a company, this overview offers key information on navigating the account opening procedures.

The required documents for opening a bank account in Vietnam

The specific documents required to open a bank account in Vietnam may differ slightly between banks, but typically include:

• A valid passport along with a visa or residency card.
• Evidence of your local address in Vietnam, such as a rental contract or a utility statement.
• Temporary Resident Card (TRC)/Permanent Resident Card (PRC)
• Forms for application and personal details, provided by the bank.
• For business accounts, additional paperwork such as a work permit or business license may be required.

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