Country：越南 · Banking & Capital
Vietnam · Banking & Capital
Vietnam applies FX controls: profit and capital repatriation require tax clearance and bank/SBV permission. Chinese banks (ICBC Hanoi, BOC) and the Big Four local banks (Vietcombank, BIDV, VietinBank, Agribank) can all open accounts; KYC is strict.
Key points
- FX control: capital and profit repatriation require tax clearance and compliant documents via an authorised bank.
- Mainstream banks: local Big Four and foreign banks (incl. Chinese bank branches).
- Registered capital must be remitted and verified (Capital Investment Account, CIT).
- AML: beneficial-owner穿透 and business-background review tightening.
Procedure
- Open a Capital Investment Account (CIT) to receive capital.
- Complete capital verification.
- Open a current account for operations.
- Profit repatriation: tax clearance, bank application, SBV filing.
Hard requirements
- Investment licence; capital verification; tax-clearance certificate (for profit repatriation).
Costs
Account fees per bank; remittance fee separate.⏱ ⏱ Timeline：Account opening 2–4 weeks; profit repatriation approval 1–2 weeks.⚠ Common risks
- Capital not remitted per rules → licence issues.
- Incomplete profit-repatriation paperwork → rejected.
- FX policy and exchange-rate changes.
Handbook
📘 Step-by-Step Handbook (with owner / timeline / cost / penalties)
Applies to：Bank-account opening, capital receipt and profit repatriation for Chinese-invested entities in Vietnam. Vietnam applies FX controls; cross-border capital and profit moves require compliant documents via an authorised bank.
Prerequisites
- Vietnam entity obtained ERC and tax registration.
- CIT opening documents (IRC, ERC, legal-rep ID) ready.
- Vietnam CIT cleared and tax-clearance certificate obtained before profit repatriation.
- UBO information traceable; business-background materials explainable.
| Step | Action | Owner | Timeline | Cost | Official form / system | Notes & penalties |
|---|---|---|---|---|---|---|
| 1 | Open Capital Investment Account (CIT) With ERC/IRC, apply to an authorised bank (Big Four Vietcombank/BIDV/VietinBank/Agribank or Chinese-bank Hanoi branch) for a CIT to receive outbound capital. | Finance + bank | 1–2 weeks | Account fee per bank | CIT opening application | Capital must enter CIT and be verified; not directly into current account Penalty：Capital not in CIT per rules affects licence and verification |
| 2 | Verification and current account After capital arrives, complete verification; open a current account for daily operations. | Finance + bank | 1–2 weeks | Account fee | Verification report & current account | Retain all remittance slips and contracts Penalty：Missing verification affects later changes and audit |
| 3 | KYC and beneficial-owner穿透 Bank conducts due diligence on UBO, business background and funding source; submit shareholder structure, contracts and supply-chain description. | Company + bank compliance | 1–3 weeks | Mostly internal | KYC questionnaire & UBO declaration | Chinese-background AML review tightens; materials must be true and complete Penalty：Rejected account for false/incomplete materials |
| 4 | Profit repatriation (clearance & permission) Before repatriating profit, clear Vietnam CIT and obtain tax-clearance certificate, apply to bank for FX purchase/remittance; large amounts filed with SBV. | Finance, bank & SBV | 1–2 weeks (incl. approval) | Remittance & FX spread | Profit repatriation application, tax clearance & SBV filing | Must also complete domestic ODI profit-repatriation filing Penalty：Incomplete paperwork blocks business or is deemed illegal profit transfer |
| 5 | Annual FX compliance Maintain CIT balance and capital-movement filings; cooperate with SBV AML and cross-border fund statistics. | Finance | Ongoing | Internal | Annual FX filing | FX policy may change; watch SBV notices Penalty：Concealing capital movements → penalty |
✅ Self-check list
⚠ Common pitfalls
Capital not remitted to CIT per rules影响：Verification fails; licence questioned.规避：Always remit capital to CIT; retain slips.
Profit repatriation paperwork incomplete影响：Funds trapped; delays domestic回款.规避：Clear tax and obtain certificate first; then apply to bank/SBV; reserve 2 weeks.
KYC materials false → account closed影响：Account closed, business interrupted.规避：True UBO穿透; complete contracts and supply-chain description.
Ignoring FX changes影响：Policy shift blocks remittance.规避：Watch SBV and bank notices; pre-communicate large remittances.
Current account only, no FDI capital account影响：Capital cannot enter compliantly; repatriation blocked; FX violation.规避：Foreign investors open SBV-approved investment capital account first; cross-border flows monitored by SBV; retain IRC/ERC.
📅 Ongoing post-incorporation obligations
- Annual CIT balance and capital-movement filing.
- Profit repatriation tax clearance and SBV filing.
- Domestic ODI profit-repatriation filing.
- Cooperate with AML and cross-border fund statistics.
- Account annual review and KYC update.
🔗 Official portals
📎 Source：https://www.sbv.gov.vn
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