Are FDI Enterprises Allowed to Open Direct Investment Capital Accounts in Vietnam?
Opening a direct investment capital account is a mandatory requirement for foreign-invested enterprises (FDIs) when conducting investment activities in Vietnam. This is a critical legal procedure to ensure proper management of investment capital and compliance with Vietnam’s financial regulations.
1. Are FDI Enterprises Required to Open a Direct Investment Capital Account?
According to Clause 1, Article 5 of Circular 06/2019/TT-NHNN, as amended by Circular 03/2024/TT-NHNN:
“Foreign investors making direct investments in Vietnam through capital contribution, share purchase, or capital contribution purchase in economic organizations must contribute capital in foreign currency or Vietnamese dong through a direct investment capital account opened at a licensed credit institution or foreign bank branch operating in Vietnam.”
Therefore, FDI enterprises must open a direct investment capital account at a bank in order to contribute capital and conduct transactions related to their investment activities.
2. What Is a Direct Investment Capital Account?
A direct investment capital account is a payment account in either foreign currency or Vietnamese dong, opened at a commercial bank or a licensed foreign bank branch operating in Vietnam.
This account is used to:
Receive capital contributions from foreign investors
Remit profits and dividends abroad
Make capital contributions, purchase shares or equity
Receive capital transfers
Conduct other transactions related to direct investment activities
3. When Is It Not Necessary to Open a Direct Investment Capital Account?
According to current regulations, not all enterprises with foreign elements are required to open a direct investment capital account. Specifically, if an enterprise does not fall into the following categories, it is not obligated to open such an account:
Enterprises with foreign investors participating in the establishment of a company in Vietnam
Enterprises receiving capital transfers from foreign investors
Enterprises with foreign investors contributing capital or purchasing shares or equity
In short, if an enterprise no longer has any foreign ownership or does not engage in foreign capital investment activities, it is not required to open a direct investment capital account.
4. Where Can FDI Enterprises Open a Direct Investment Capital Account?
FDI enterprises may open a direct investment capital account at:
Commercial banks operating in Vietnam
Licensed foreign bank branches operating in Vietnam
Note: Each enterprise may open only one direct investment capital account per type of foreign currency at a single bank.
5. Legal Advisory on Opening Direct Investment Capital Accounts for FDI Enterprises
Opening a direct investment capital account is not just a standard administrative procedure—it has direct implications for the financial and legal operations of FDI enterprises in Vietnam.
If your company is planning to establish a presence in Vietnam or is preparing to receive investment from foreign investors, contact Dedica Law Firm for professional assistance:
Advisory on eligibility and requirements for opening investment capital accounts
Preparation of related legal documentation
Guidance on banking procedures
Assistance with capital transfers, capital contributions, and remittance of profits abroad
Contact DEDICA Law Firm today for expert legal advice!
Phone: (+84) 39 969 0012 (We are available on WhatsApp, WeChat and Zalo)
Head Office: 144 Vo Van Tan Street, Vo Thi Sau Ward, District 3, Ho Chi Minh City, Vietnam
Hours: Monday–Friday (8:30 am – 6:00 pm)
Call us now or leave us a message to get advice. Initial consultation is free of charge.
