On May 18, 2025, VIE SEC published circular 03/2025/TT-NHNN described above.
On Oct. 4, VIE CB drafted regulations on opening, using VND account.
VIE CB drafted regulations on opening and using VND-denominated accounts for indirect foreign investment activities; applies to foreign investors in Vietnam.
Proposal
Foreign investors must open a VND-denominated indirect investment account at a licensed bank, with the option to open multiple accounts based on specific activities.
Permitted transactions include income from abroad, share sales, dividends, interest, expenses for capital contributions, share purchases, profit repatriation, legal payment.
Indirect investment must go through designated VND account; licensed banks are responsible for verifying customer information, ensuring legality of transactions.
Banks must verify customer identification, ensure transaction legality, maintain records, comply with anti-money laundering regulations, report to VIE CB as required.
Foreign investor has to provide accurate documents for account opening and transaction purposes; adhere to Vietnamese laws on investment, securities, AML.
Licensed banks may set additional documentation requirements for account opening and transactions but must inform and guide the foreign investors accordingly.
Effectiveness
The consultation is open, but the consultation deadline has not been indicated.
Apr. 2025 Regulations Finalized
On Apr. 29, 2025, VIE CB published the finalized regulations on opening and using Vietnamese Dong accounts for foreign indirect investment activities in Vietnam.
