After obtaining an enterprise registration certificate, the enterprise shall carry out procedures for opening a checking account at a commercial bank or foreign bank branch in Vietnam.
Documents required to open a bank account shall comply with the bank’s instructions. However, an enterprise should have the following documents:
1. The request for opening of checking account which is made according to the form issued by the bank or foreign bank branch where the enterprise’s account will be opened;
2. The enterprise registration certificate;
3. Documents proving the capacity of the enterprise’s legal representative and decision on appointment of chief accountant or decision on appointment acting chief accountant (if any) made by the enterprise, attached to citizen identity cards or ID cards or unexpired passports of these persons;
4. Authorization letter if the person following required procedures on behalf of the enterprise is not its legal representative.
Documents to be submitted when opening a checking account (except the request opening of checking account which is made according to the form of the bank) are either originals or copies.
The translation of a document, which is submitted when opening a checking account, from a foreign language into Vietnamese may be agreed upon between the enterprise and the bank or foreign bank branch according to the following rules:
- The enterprise registration certificate and documents proving the capacity of the legal representative of the account holder to open and use a checking account (appointment decision or Authorization letter) all must be translated into Vietnamese;
- Passport(s) and other documents submitted when opening a checking account shall be translated into Vietnamese only when such translation is requested by a competent authoritiy;
- Vietnamese translations must be attached to their originals in foreign language for verification purpose.
Within 10 days after having a bank account, the enterprise shall send a notification to the Business Registration Office, affiliated to the Provincial Department of Planning and Investment, that has issued its enterprise registration certificate; it is not required to send a notification to its supervisory tax authority – For more details, please refer to “Change of tax registration information”.