List of steps
(Total number of steps: 51)
Meet Department of Planning and Investment (DPI) and define location
Obtain certified copies of foreign documents for consular legalization  (2)
Obtain consular legalized copies of documents  (3)
Obtain certified translation of documents  (2)
Obtain authenticated copies of passports or Vietnamese ID cards  (2)
Declare investment project information online
Obtain Investment Registration Certificate (IRC)  (2)
Obtain Enterprise Registration Certificate (ERC)  (3)
Obtain authenticated copies of IRC  (2)
Obtain seal and seal seal specimen notice  (2)
17
Make seal
Open bank account  (1)
Obtain approval of environmental impact assessment (EIA) report  (5)
Obtain agreement on land use demand  (3)
Obtain document of evaluation on demand on land use  (2)
Obtain decision on changing purpose of land use  (2)
Sign land lease contract  (2)
Attend on-site title plan verification  (1)
Obtain land use right certificate  (1)
Obtain authenticated copies of land use right certificate  (2)
Obtain planning license/ agreement on architectural planning  (3)
Obtain approval of detailed planning tasks  (3)
Obtain approval of detailed planning 1/500  (3)
Make construction investment project  (1)
Obtain approval of fire prevention and fighting  (2)
Obtain construction permit  (2)

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Properties
 
19
Open bank account
(last modified: 10/12/2016)

Contact details

Entity in charge

ANY COMMERCIAL BANK


List of some commercial banks in Phu Yen (not exhaustive) List of some commercial banks in Phu Yen (not exhaustive)

Expected results

Bank account notification 01 - Bank account notification

Requirements

1. Application for opening bank account
Application for opening bank account (original)
2. 01 - Libre deuda de patente
Authenticated copy of IRC (original)
3. 01 - Libre deuda de patente
Passport or Vietnamese ID card of the legal representative (original)
to present at the counter

Time frame

Generally it takes 5-10 minutes to open a bank account provided that the application meets the bank's requirements.
Waiting time in queue: Max. 5mn
Attention at counter: Min. 5mn - Max. 10mn

Legal justification

1. Ordinance No 28/2005/PL-UBTVQH11 dated December 13, 2005 on foreign exchange
Ordinance No 28/2005/PL-UBTVQH11 dated December 13, 2005 on foreign exchange
Article 11
2. Ordinance No 06/2013/PL-UBTVQH13 dated March 18, 2013 on amending and supplement some articles of Ordinance 28/2005/PL-UBTVQH11
Ordinance No 06/2013/PL-UBTVQH13 dated March 18, 2013 on amending and supplement some articles of Ordinance 28/2005/PL-UBTVQH11
Article 1.4
3. Decree No. 70/2014/ND-CP of the Government dated July 17, 2014 detailing the implementation of several provisions of the ordinance and the amended ordinance on the foreign exchange
Decree No. 70/2014/ND-CP of the Government dated July 17, 2014 detailing the implementation of several provisions of the ordinance and the amended ordinance on the foreign exchange
Article 8
4. Circular No. 19/2014/TT-NHNN dated August 11, 2014 of the State Bank of Vietnam providing guidance on foreign exchange control over foreign direct investments in Vietnam
Circular No. 19/2014/TT-NHNN dated August 11, 2014 of the State Bank of Vietnam providing guidance on foreign exchange control over foreign direct investments in Vietnam
Article 6

Additional information

The foreign owned capital company (Foreign investors joining business cooperation contract) must open accounts of direct investment capital at an authorized credit institutions. The contribution of investment capital, remittance of principal investment capital and profits and other lawful revenue must be effected via these accounts.
There's no fee to open a bank account, but banks may request to keep a minimum account balance.
Each bank provides its own form for opening bank account and normally requires authenticated Investment Certificate.
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