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List of steps
(Total number of steps: 38)
Meet Hai Duong Industrial Zones Authority (IZA)
Obtain certified copies of foreign documents  (2)
Obtain consular legalized copies of foreign documents  (3)
Obtain certified translation of documents  (2)
Obtain authenticated copies of passport and/or Vietnamese ID cards  (2)
Sign MOU on land lease  (1)
Obtain Investment Certificate  (2)
Obtain authenticated copies of Investment Certificate.  (2)
Obtain Enterprise Registration Certificate (ERC)  (2)
Making seal  (2)
17
Make seal
Open bank account  (1)
Publish in newspaper  (1)
Sign official land lease Contract  (1)
Attend on-site title plan verification  (1)
Obtain Land Use Right Certificate  (2)
Obtain approval on Environment Impact Assessment (EIA)  (6)
Obtain fire prevention and fighting approval Certificate  (3)
Obtain written opinions on Conceptual plan  (3)
Obtain Construction Permit  (2)

Preview & Print

Properties
 
19
Open bank account
(last modified: 6/16/2015)

Expected results

Bank account notification 01 - Bank account notification

Requirements

1. Application for opening Bank Account
Application for opening Bank Account (original)
2. 01 - Libre deuda de patente
Investment Certificate (Inside IZs) (Simple copy)
3. 01 - Libre deuda de patente
Seal specimen (Simple copy)
4. 01 - Libre deuda de patente
Passport or Vietnamese ID card of investors (original)
(or Account holder, in case investor (Account holder) can be present)
or 01 - Libre deuda de patente
Power of Attorney (1) (original)
(issued by investor for the authorized representative of investor (Account holder) in case the investor (Account holder) cannot be present)
5. 01 - Libre deuda de patente
Passport or ID card of authorized representative of investor (original)
to present at the counter
Those are just example requirements from Vietcombank in Hai Duong. Other banks could require different documents.

Time frame

Generally, it takes 10 to 15 minutes to open an account at a bank provided that the application meets the bank's requirements.
Waiting time in queue: Min. 5mn - Max. 15mn
Attention at counter: Min. 5mn - Max. 15mn

Legal justification

1. Ordinance No.28/2005/PL-UBTVQH11 dated 13 December, 2005 on Foreign Exchange (English version)
Ordinance No.28/2005/PL-UBTVQH11 dated 13 December, 2005 on Foreign Exchange (English version)
Article 11
2. Ordinance No.28/2005/PL-UBTVQH11 dated 13 December, 2005 on Foreign Exchange (Vietnamese version)
Ordinance No.28/2005/PL-UBTVQH11 dated 13 December, 2005 on Foreign Exchange (Vietnamese version)
Article 1.4

Additional information

Please be noted that the information presented here is mere example for reference of the investors only.

After being set up, a company must open in any commercial bank a special capital foreign currency account, which will be used for capital transactions, eg. making charter capital contributions, foreign loan disbursements or payments etc. The company may open and maintain different accounts for different kinds of foreign currencies or Vietnam Dong.

No fee is charged upon bank account opening. However, most of banks in Vietnam require individual and corporate customers to keep a minimum account balance. For example: Vietcombank in Hai Duong requires a minimum balance of 1,000,000 VND in a Vietnam dong account or 100 USD in an USD account.
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