ACCOUNT OPENING

This service is offered to the following customers:
- Individual: residents and non-residents.
- Non-resident corporations: liaison offices of foreign economic or credit organisations, foreign companies associations, foreign affair services, non-governmental organisations, international organisations, foreign social organisations, foreign economic organisations operating outside Vietnam, etc.
- Resident corporations: 100% foreign-invested companies, foreign companies joining a business co-operation agreement, foreign companies' branches and foreign contractors in Vietnam.

Account opening procedure

For individuals:
- Account opening fee: free
- Minimum amount for the first deposit:

+ Foreign currency account: USD 15 or equivalent
+ VND account: VND 50,000

- Required documents:

1. ID card or passport (if the account's holder is a foreigner)
2. Account opening application

For corporations:
- Account opening fee: free
- Minimum amount for the first deposit:

+ Foreign currency account: USD 300 or equivalent
+ VND account: VND 1,000,000

- Required documents:

1. Account opening application
2. A certified copy of Establishment Licence of relevant Ministry
3. A certified copy of Business Registration Licence or Board of Management Confirmation issued by People of Committee of that province or city or issued by relevant Service
4. Appointment decision of Account's holder.
5. A letter of introduction of the staff dealing with VCB HCM.
6. Account's holder's ID or passport and a copy of the ID or passport of the person authorized by the account's holder and of the staff dealing with VCB HCM.

* For economic organisations operating outside Vietnam, the above-mentioned documents should also be presented. However, all the licences' copies must be certified by the Consulate.