Investment capital account assessment, corporate account-opening preparation and KYC coordination for businesses with foreign investment in Vietnam.
Part of Viettonkin's Global Company Registration services
Disbursed foreign direct investment in Vietnam reached USD 27.62 billion in 2025, up 9 percent year on year and the highest level in the past five years. For investors moving capital into Vietnam, the route for the money matters as much as the account itself: whether a foreign investment capital account is required depends on the investment and entity structure, and equity, shareholder loans and everyday operating payments are treated differently. Getting that distinction right before the first transfer is easier than correcting it afterwards.
Viettonkin coordinates corporate banking setup for businesses with foreign investment in Vietnam. We assess the capital route with the selected bank, prepare and reconcile the company’s records for its review, and follow the application through to signatory and online-banking setup, while the bank retains its own approval decisions.
Vietnam separates the money that funds an investment from the money a company uses to operate. Planning the account structure starts with that separation.
Since 18 August 2026, State Bank of Vietnam Circular 38/2026/TT-NHNN has replaced Circular 06/2019/TT-NHNN and renamed the direct investment capital account the foreign investment capital account (ICA). An ICA is opened with an authorised bank and is required in defined cases, including a foreign-invested company in which foreign investors hold more than 50 percent of the charter capital. The assessment is made with the bank for the actual structure rather than assumed from the fact of foreign ownership.
Everyday transactions, such as payroll, supplier payments and local receipts, run through a VND operating account, with a foreign-currency account added where the business has permitted foreign-currency receipts or payments. Foreign borrowing is a further category, planned separately from equity and from operating flows.
Because the circular is recent, bank forms and older guidance may still use the previous account name. Existing account arrangements are reviewed against the new rules, and we check the current position with the bank for the company’s specific transactions before funds move.
The bank confirms available products and eligibility for the company. Use the table to agree the purpose of each account before the application is prepared.
Scroll the table horizontally on smaller screens.
| Account or workstream | Purpose | Preparation point |
|---|---|---|
| Foreign investment capital account (ICA) | Charter capital contributions and related investment capital transactions where Circular 38/2026/TT-NHNN requires the account. | Assess the entity, the foreign ownership level and the investment structure with the bank; do not assume every foreign shareholding has the same account requirements. |
| VND operating account | Local receipts, payroll, supplier payments and other operating transactions. | Agree how permitted funds move into the operating account and who can approve payments. |
| Foreign-currency account | Permitted foreign-currency receipts and payments where needed. | Identify currencies, transaction purposes and supporting documents. |
| Foreign borrowing arrangements | Loan receipt and repayment where relevant to the funding plan. | Assess applicable loan registration, reporting and account requirements separately. |
The right bank depends on how the company will operate, not on a general ranking. These are the decision points we work through with you.
Start with the transactions the company expects in its first year: capital arriving, payroll, local suppliers, imports and exports, and payments to or from the group. Banks differ in their foreign-currency services, payment channels and fees, so a bank that suits a local services company may be less suitable for a manufacturer with regular cross-border flows.
A company with a simple ownership chain and one with several intermediate holding companies will have different onboarding experiences. Some banks apply a group-wide customer due diligence approach, while others review each entity locally, and understanding the bank’s approach helps set realistic expectations for the review.
Where the company operates matters, particularly for factories and offices outside the main cities. Branch coverage, local service and the practicalities of signatory verification can all differ, so we confirm which branch will handle the application and what it requires before documents are prepared.
Trade finance, guarantees, payment platforms and group cash management are often not needed on day one but become important later. Considering them at the start avoids moving banks once operations are established, although credit facilities and trade finance still require their own bank review and are scoped separately.
This is a starting checklist. Obtain the selected bank’s current requirements for the applicant and branch, including how originals, copies and translations must be presented.
Scroll the table horizontally on smaller screens.
| Document group | What to prepare |
|---|---|
| Company and investment records | Current enterprise registration, charter and investment records where applicable. |
| Ownership information | A complete ownership chain and the beneficial-owner details requested by the bank. |
| Identity and authority | Legal representative and signatory documents, plus the required account-opening authorisation. |
| Business and funding purpose | Expected transactions, contribution plan and evidence supporting the source and purpose of funds. |
| Certification and format | The selected bank’s instructions for originals, copies and translations. |
Bank requirements and transaction rules need to be applied to the company’s actual circumstances. These four points decide whether the account is usable when the business needs it.
An ICA is opened with an authorised bank where Circular 38/2026/TT-NHNN requires one, under the procedures of that bank, rather than through a separate routine registration with the State Bank. Confirm with the bank which account should receive the contribution before the investor instructs the transfer.
The purpose of the funds affects the documentation and regulatory assessment. Do not treat every shareholder transfer as interchangeable capital; record the purpose in the transfer instructions and supporting documents, and assess any loan on its own terms.
Read the company and investment documents and confirm the relevant statutory timeline. Banking delays should not be assumed to extend a contribution obligation, so starting banking preparation while registration is being finalised leaves more room if the bank asks further questions.
An open account is not the same as ready-to-use payment access. Confirm signatories, online users and transaction controls with the bank, and plan the first payroll and supplier payments around the date access is confirmed.
Many avoidable delays come from the documents rather than from the bank’s rules. These are the issues we check for before submission.
The English rendering of the company name or the legal representative’s name can differ between certificates, the charter and the bank’s forms, and the bank will usually ask for an explanation or corrected documents. Checking every spelling against the registration records before submission avoids that round of questions.
Banks may ask for the full charter and other records in a particular certified form, and a summary, a selection of articles or an informal translation may not be accepted. Confirming the bank’s translation and certification instructions first avoids paying for documents twice.
Ownership forms sometimes show only the immediate shareholder, leaving out intermediate holding companies between the Vietnamese entity and its ultimate owners. The bank will then ask for the full structure and supporting records for each layer, so a complete group chart prepared at the start keeps the review focused.
The scope covers preparation and coordination; the bank retains its approval and due-diligence decisions. Each step has a clear output, so you can see where the application stands.
We review ownership, currencies, expected transactions and funding needs, then agree the bank’s checklist and any time-sensitive dependencies. The output is a confirmed document list and a working timetable, with fixed dates such as a contribution or first payroll built in from the start.
We check names, addresses, appointments and ownership information across the package and arrange agreed supplementary records or translations to the bank’s instructions. The company reviews and approves the final package before it is submitted.
We help organise the information requested during KYC or additional due diligence. The company approves explanations and provides accurate supporting evidence, and each query and response is recorded so the same question does not need to be answered twice.
We confirm account status, signatory verification and online-banking arrangements with the bank, and retain the relevant account and contribution records with the company file. You receive a summary of what is set up and what, if anything, remains to be completed.
Agree the initial application and any continuing support separately. Specialist advice and financial products sit outside standard banking coordination.
Scroll the table horizontally on smaller screens.
| Support to agree | Additional work to scope |
|---|---|
| Document preparation and application coordination | Specialist legal, tax or foreign-exchange advice. |
| Ownership and source-of-funds queries | Complex group restructuring or remediation. |
| Signatory and activation coordination | Credit applications, trade finance or treasury services. |
| Agreed post-opening updates | Ongoing transaction administration or additional entities. |
Since 2009, Viettonkin has supported 2,000+ businesses, including Fortune 500 and VNR500 companies. In these Vietnam engagements, bank account opening or charter capital procedures formed part of a wider company setup.
A Hong Kong company set up a logistics branch in Vietnam while working through a joint venture with a Vietnamese business partner. Viettonkin carried out the registration procedures for the investment registration certificate and business registration certificate, together with bank account opening.
Read the case study
A Malaysian marketing company set up its business in Vietnam. Viettonkin handled the procedures for its business registration certificate and bank account registration, taking into account the requirements of its registered industry.
Read the case study
Two investors from China set up a joint venture company and factory in Vietnam. Under a retainership, Viettonkin advised on the legal process, compliance issues in construction and manufacturing and charter capital procedures, and supported adjustments to the Investment Registration Certificate and Business Registration Certificate.
Read the case studyPractical answers for your banking setup.
No. The bank decides whether to accept the company after its own review. Viettonkin supports preparation and coordination but cannot bypass the bank’s requirements.
The bank’s verification requirements determine this. Confirm the route for each authorised person before relying on remote opening or making travel arrangements.
Start when the entity and funding plan are being finalised. Ask for the bank’s current checklist early, and identify any contribution or operational deadlines that depend on account readiness.
The bank may request ownership-chain and beneficial-owner information as part of due diligence. Prepare a complete and consistent explanation with supporting records.
Not necessarily. Signatory authority, online users, approval controls and transaction limits may require additional setup. Confirm operational access with the bank before scheduling payments.
Regulatory points checked on 10 September 2026; market statistics checked on 11 September 2026. Requirements depend on the activity, investor and filing date.
Tell us your market, entity structure and immediate priorities. We will confirm the documents, responsibilities and scope of support.
