Why Open a Business Bank Account in Vietnam?
- Secure and Transparent Banking System – Vietnam banks provide reliable financial services with clear regulatory oversight
- Professional Business Image – Separate company funds from personal finances and build credibility with clients and partners
- Multi-Currency Support – Convenient for international transactions in USD, EUR, and other major currencies
- Regulatory Compliance – Maintain proper accounting records for audits and tax purposes
Types of Business Bank Accounts
- Corporate Current Account – Ideal for everyday business transactions and payments
- SME Accounts – Tailored for startups and small businesses with lower fees and simpler procedures
- Multi-Currency Accounts – Support for foreign currencies and cross-border transactions
- Online Business Accounts – Convenient remote account management and digital banking
Who Can Open a Corporate Bank Account?
- Vietnam-Registered Companies – Limited liability companies, joint-stock companies, and sole proprietorships
- Foreign-Invested Enterprises – Companies with local or international shareholders
- Startups & Entrepreneurs – Newly incorporated or expanding businesses
- E-Commerce & Service Companies – Both domestic and international operations
Key Requirements
- Company Registration Documents – Investment certificate, business registration, and company charter
- Director & Shareholder Identification – Passport or national ID and proof of address
- Business Profile & Activities – Contracts, invoices, website details
- Board Resolution – Authorization to open the account
- Minimum Deposit – Varies depending on bank and account type
Typical Account Features
- Online & Mobile Banking – 24/7 access to monitor and manage funds
- Corporate Debit & Credit Cards – Simplify payments and cash flow management
- Payment Integration – Support for payroll, invoicing, and accounting software
- Multi-Currency Handling – Reduce costs for international payments
Benefits for SMEs & Startups
- Lower Banking Fees – Accounts designed for small businesses and startups
- Faster Approval – Streamlined procedures for corporate clients
- Better Cash Flow Management – Track expenses and income efficiently
- Ease of International Transactions – Seamless handling of foreign payments
Steps to Open a Business Bank Account
- Prepare Documentation – Gather company and shareholder details
- Submit Application – Online or in-branch submission of required documents
- Bank Review & Compliance Checks – AML/KYC verification
- Account Approval & Activation – Receive online access and banking credentials
- Start Transactions – Begin business payments, collections, and fund management
Final Thoughts
- Vietnam provides a growing and business-friendly environment for corporate banking
- Choosing the right bank and account type ensures smooth operations and regulatory compliance
- Combining professional banking services with proper financial management helps businesses expand efficiently in Vietnam and internationally
