This article provides a comprehensive guide for opening company bank accounts in Vietnam. It outlines the necessary documents required for various types of businesses, including limited liability companies, joint stock companies, wholly foreign-owned enterprises (WFOEs), joint ventures, small and medium enterprises, representative offices, and cooperatives. The document lists specific requirements for each business type, such as business licenses, company charters, tax registration certificates, and legal representative identification. It also highlights additional requirements for foreign-invested companies, including investment registration certificates and parent company documents. The guide emphasizes the importance of document authentication, Vietnamese translations, and adherence to specific bank requirements. It concludes with helpful notes on the account opening process, stressing the need for proper document preparation and direct communication with the chosen bank to ensure a smooth account opening experience in Vietnam.

Account Opening Document Preparation Checklist

Basic Documents for Limited Liability Companies

• Enterprise Business License
• Company Charter (company name, address, business scope, registered capital and financing structure, shareholder/member information, management structure and decision-making mechanisms, profit distribution method)
• Tax Registration Certificate (if not included in the business license)
• Company Seal Registration Certificate
• Legal Representative’s ID Card/Passport
• Authorized Signatory’s ID Card/Passport and Authorization Letter
• Board Resolution Authorizing Account Opening
• Company Address Proof (e.g., lease contract)
• Beneficial Ownership Declaration
• Bank Account Opening Form

Basic Documents for Joint Stock Companies

• Enterprise Business License
• Company Charter (company name, address, business scope, registered capital and financing structure, shareholder/member information, management structure and decision-making mechanisms, profit distribution method)
• Tax Registration Certificate (if not included in the business license)
• Company Seal Registration Certificate
• Legal Representative’s ID Card/Passport
• Authorized Signatory’s ID Card/Passport and Authorization Letter
• Board Resolution Authorizing Account Opening
• Company Address Proof (e.g., lease contract)
• Beneficial Ownership Declaration
• Bank Account Opening Form
• Shareholder Register
• Most Recent Financial Statement (attached)

Basic Documents for Wholly Foreign-Owned Enterprises (WFOE)

• Enterprise Business License
• Company Charter (company name, address, business scope, registered capital and financing structure, shareholder/member information, management structure and decision-making mechanisms, profit distribution method)
• Tax Registration Certificate (if not included in the business license)
• Company Seal Registration Certificate
• Legal Representative’s ID Card/Passport
• Authorized Signatory’s ID Card/Passport and Authorization Letter
• Board Resolution Authorizing Account Opening
• Company Address Proof (e.g., lease contract)
• Beneficial Ownership Declaration
• Bank Account Opening Form
• Investment Registration Certificate
• Parent Company Registration Documents (require notarization in home country and consular authentication in Vietnam)
• Foreign Personnel Passports
• Source of Funds Declaration
• Parent Company Board Resolution on Establishing a Subsidiary in Vietnam (requires translated notarization)

Joint Venture Enterprise Documents include all documents required for WFOE, plus:

• Joint Venture Agreement
• Relevant supporting documents for Vietnamese shareholders (if a company, provide its business license; if an individual, provide ID documents).

Small and Medium Enterprises

• Enterprise Business License
• Tax Registration Certificate (if not included in the business license)
• Business Owner’s ID Card
• Company Seal Registration Certificate
• Bank Account Opening Application Form
• Company Address Proof

Representative Office

• Representative Office Establishment License
• Parent Company Registration Documents (require notarization in home country and consular authentication in Vietnam)
• Parent Company Authorization Letter (designating chief representative, requires notarization and authentication)
• Chief Representative’s Passport or ID Card
• Representative Office Seal Registration Certificate
• Bank Account Opening Application Form
• Representative Office Address Proof

Cooperative

• Cooperative Business Template
• Cooperative Charter
• Tax Registration Certificate (if not included in the business template)
• Cooperative Seal Registration Certificate
• Legal Representative’s ID Card
• Management Committee Resolution Authorizing Account Opening
• Bank Account Opening Application Form
• Cooperative Address Proof

Notes: All original documents need to be stamped with the company seal (if available). Foreign language documents must be provided with notarized Vietnamese translations. Some banks may require additional documents, such as recent financial statements or explanations of expected transaction volumes. For enterprises related to machinery, documents may need to undergo consular authentication or double authentication. Some banks may require on-site inspections, especially for newly established companies. The format of account opening application forms may vary by bank. It is advisable to obtain the latest version directly from the chosen bank. If the authorized signatory is not the legal representative, corresponding authorization documents must be provided. Beneficial ownership information disclosure is a new requirement in recent years, and the specific format may vary by bank.

It is recommended to contact the customer manager of the selected bank directly when preparing account opening documents. They usually provide a detailed checklist tailored to your company type. This ensures that the documents you prepare fully comply with the specific requirements of that bank, expediting the account opening process.