hello.
two similar posts on the forums, no answers.
one mentioned maybe a private company providing that service, seems unlikely.
many mentions of a safe at home, but that seems more of a thief magnet than deterrent, especially if not home for longer periods.
thank you,
r
@Roy McRoy
How hard is it to open a bank account there?
Rob
@uk2la89
haha i know as much as you do at this point, planning stage.
per gewgle, tourist visa is no good
In most cases, to open a bank account in Vietnam you'll need to hold a long term visa or residence permit. This wasn't always the case, but changes in the law and in bank policies over the past few years has made it far harder to access financial services if you're only in Vietnam for a short while.Jan 15, 2024
I am not planning on leaving and want to establish residency. I have been looking into some options. It seems that an investor visa is the best way to go. I want to start a company anyway. A coffee shop/clothing store. How about you?
Rob
lived in yunnan for years, visa policy got crazy post-pandemic, so i'm looking for a new domicile. want to check vn out for a few months before deciding.
business visa seems the best option for now, though if things go the way of china, that'll end as well...
lived in yunnan for years, visa policy got crazy post-pandemic, so i'm looking for a new domicile. want to check vn out for a few months before deciding.
business visa seems the best option for now, though if things go the way of china, that'll end as well...
-@Roy McRoy
What "business visa" for a few months?
How hard is it to open a bank account there?
Rob -@uk2la89
There are two types of personal accounts allowed for foreigners here:
1. An INTERNATIONAL account that basically gives you a place to wire & hold funds from abroad without giving you access to the domestic banking & payments systems.
Timo Bank provides such an account and it's easy to get, even on a tourist visa.
2. A DOMESTIC account which does give you access to the domestic banking system.
In order to qualify you'll need to have at least a 1 Year visa.
See my post #4 in this thread to learn more about minimum investment requirements for a 1 Year business visa (₫600,000,000 VNĐ) or a longer TRC
@OceanBeach92107 I'm following up on your local domestic banking comment with a question. I hold a new 3-year TT visa along with a local company 1-year employment contract. Years back with my HSBC account I could transfer funds via the Internet to my US bank. And less far back with a local bank I could transfer funds but only by visiting the bank. Any suggestions on which local banks can meet my international transfer needs? On my last bank visits when inquiring about the above, they all fell short of knowledgeable answers. Tks
@OceanBeach92107 I'm following up on your local domestic banking comment with a question. I hold a new 3-year TT visa along with a local company 1-year employment contract. Years back with my HSBC account I could transfer funds via the Internet to my US bank. And less far back with a local bank I could transfer funds but only by visiting the bank. Any suggestions on which local banks can meet my international transfer needs? On my last bank visits when inquiring about the above, they all fell short of knowledgeable answers. Tks
-@River Frogs
I'm actually searching for the best (better) option now, as both ACB & Agribank aren't as easy to use as I would hope.
Sadly, it seems that many Vietnam banks are making it especially difficult for US citizens to open savings accounts and withdrawal funds inside the bank because of the onerous reporting requirements of the US IRS.
Thanks. The two mentioned banks hit the bottom of the banks I was considering list.
Thanks. The two mentioned banks hit the bottom of the banks I was considering list.
-@River Frogs
A foreigner friend here highly recommends Techcombank, but he's not a US citizen, so I don't know if he'd be having the same positive experience if he were.
I'll check them out next.
Thanks, I'm anxious to hear what you discover at Techcombank.
Back to the question of safe deposit boxes at the banks in VN. I guessing I'm one of the person that posted the question a few months back and didn't get an answer. Are there safe deposit boxes inside the banks in VN that one can rent? I don't feel any safe except the really large expensive safes for homes are secured. The small ones can be walked away with or have flaws that a thief can use to open the safe or just cut through with an angle grinder after they walk away with it. Appreciate a yes or no on the safe deposit boxes in banks if anyone knows.
Thanks!
@qnbui
i posted above two bank safe box links off google.
Sacombank has boxes in Ho Chi Minh City, Hanoi, An Giang, and Can Tho, comfirmed by email. the link contains fee schedule as well.
BIDV seems boxes only in hanoi, but "Safe custody service" for valuable assets at all branches, although over online chat told me the usual, depends on branch, have to contact them about availability.
there are probably other banks as well, this was just two top google english results.
@Roy McRoy
Thanks! Somehow I missed the links.
If you have decided to settle in Vietnam, you will definitely need to open a bank account. Not only will this be ...
If you're considering moving to Hanoi, or Ho Chi Minh City, the dating scene may be of interest to you ...
The telecommunications sector in Vietnam has flourished throughout the past two decades. Like many foreigners ...
If you are planning to move to Vietnam with a pet, there are a number of formalities that have to be completed ...
Have you met that perfect someone who you want to spend the rest of your life with? Luckily, getting married in ...
Formerly known as Thang Long, Vietnam's present capital city was renamed Hanoi in 1831. This enchanting ...
