Open bank accounts for an overseas company at a bank in Vietnam

Procedures for opening a payment account:

A company which is legally established and operates abroad, outside the territory of Vietnam (e.g. The US, UK, Germany, China, Japan, Korea, Hong Kong, Taiwan or other countries) may carry out the procedure to open a business or corporate account of the company at a bank in Da Nang, Vietnam;

Legal bases:

Foreign Exchange Ordinance No. 07/VBHN-VPQH dated 11 July 2013;

Decree No. 70/2014/NĐ-CP dated 17 July 2014;

Circular No. 23/2014/TT-NHNN dated 19 August 2014;

Circular No. 16/2020/TT-NHNN dated 04 December 2020 admending Circular No.

23/2014/TT-NHNN dated 19 August 2014.

Scope of work:

Overseas companies can use the service “Open a corporate account at a bank in Da Nang, Vietnam”, by signing a legal service contract with DMS. The scope of work that DMS will carry out under the contract is as follows:

Give legal advice, guidance on providing information to serve the preparation of the dossier, guidance on providing relevant documents to serve the opening of current accounts; draft all documents, instructions for printing, signing and stamping documents;

Work as an authorized representative of the overseas company to directly contact and work with the bank in Da Nang, Vietnam;

Submit the complete dossier to the bank in Da Nang, Vietnam, receive and hand over the results of the complete procedure for opening a business account for the foreign company.

Contact information:

Phone: (+84) 0989 157 682 or Email: dmslawfirm@gmail.com

Open bank accounts for a foreign company at a bank in Vietnam

DMS Law office in Vietnam

Director

(Signed)

Lawyer Do Minh Son