A Hong Kong company opens payment accounts at a bank in Vietnam

Can a company legally incorporated and operating in Hong Kong register and carry out procedures for opening a corporate account at a bank in Vietnam?

Opening and using payment accounts:

The opening and using of payment accounts must be carried out by a contract or an agreement between the relevant parties, which clearly defines the rights and responsibilities of the parties in accordance with the provisions of Vietnamese law.

Opening payment accounts for organizations that are not credit institutions:

Banks and foreign bank branches guide the opening of payment accounts for customers in accordance with the regulations of the State Bank of Vietnam and other relevant legal provisions.

Using and authorizing the use of payment accounts:

The account holder may use the payment account to deposit, withdraw cash and request the payment service provider to carry out valid payment transactions. The account holder has the right to request the payment service provider to provide information on transactions and balances on the payment account.

Subjects who are permitted to open payment accounts:

Organizations established and operating legally according to the provisions of Vietnamese law, including: organizations that are legal persons, sole enterprises, individual business households and other organizations are permitted to open accounts at banks and foreign bank branches according to the law provisions.

Therefore, companies established and operating legally in Hong Kong SAR may register and carry out procedures to open payment accounts at banks in Vietnam.

Related writings:

The dossier for opening a payment account at a bank in Vietnam

Application form for opening a payment account at a Bank in Vietnam

An agreement on opening and using payment accounts at a Bank in Vietnam

The order and procedure for opening a payment account at a bank in Vietnam

A piece of writing on payment instructions for consulting fees (remuneration):

The dossier, order and procedure for opening a payment account for a Hong Kong company at a bank in Vietnam

This piece of writing in Vietnamese

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