If you are not currently based in Vietnam, you must open a bank account in Vietnam to facilitate the offshore transactions from or to the bank account in the country of residence. 

In partnership with UOB, Homebase will provide you with all the support you’ll need to open a bank account.

This guide is useful for...

Foreigners who are living in a different country

Vietnamese who are living in a foreign country without a Vietnamese passport

How it works

The process can take as little as 5 working days to complete. Whether you live in a country with a UOB branch or not, step 1 and 2 are compulsory for both.

To check if a UOB branch is available in your country, please visit our guide. 

Step 1: Prepare your documents

Step 2: Review the account opening forms

The bank will fill in the applications on your behalf and send them to your email within 2 working days. Please review the information carefully.

For countries with a UOB’s branch

Step 3: Meet with the banker

1. Bring hard copies of your documents to the bank’s branch
2. Schedule to sign the application forms and submit the documents
   

*Note: Please do not sign the application forms at home. They must be signed in front of the banker to be considered valid.

Step 4: Activate your bank account

1. Within 2-3 working days from your meeting with the banker, you’ll receive an email from the bank with your account information. 
2. Follow the instructions to view your online banking information. 

For countries without a UOB's branch

Step 3: Get the documents certified

Head to the Vietnam Embassy or General Consulate at the country of residence to get: 

1. Witness service for signing the Account Opening Forms
2. Certified service for the hard copies of Documents

Step 4: Mail your forms & documents

Mail the hard copies of your Account Opening Forms &  Documents to the bank’s Vietnamese branch.

Step 5: Activate your bank account

1. Within 2-3 working days from your meeting with the banker, you’ll receive an email from the bank with your account information. 
2. Follow the instructions to activate the account and view your online banking information. 

Frequently Asked Questions

1. Do I have to go through this process if I am a Vietnamese living in a foreign country with a Vietnamese passport?

You would still have to open a bank account in Vietnam but with the regular process: Go to the bank’s website and sign up for opening an account in Vietnam.‍

2. What are the limitations of my Vietnamese bank account?

You will have access to online banking portals where you could view your balance and transaction history. However, you won’t be able to conduct the transactions yourself. You must inform your banker in advance and he/she will conduct the transactions on your behalf. 

3. What should I do if I want to cash out? 

You will inform the banker about the intended transaction. You should only cash-out to the original foreign bank account where you have made your cash-ins. In case you want to cash-out to a different foreign bank account, the account holder must be the same with the original account. 
4. How long does it take to successfully open my bank account in Vietnam?

It mostly depends on your time to prepare the documents & also get the forms signed & documents verified (if needed). On average, it can take from 5-14 working days to complete the process.

5. Are there any incurred costs for opening a bank account in Vietnam?

There is no fee for opening the bank account as well as for maintenance.

Notice on Sanctions Compliance

Due to our banking partner’s compliance with the sanction laws and regulations (“sanctions laws”) passed by Singapore, the United Nations Security Council, the European Union and the U.S Department of the Treasury’s Office of Foreign Assets Control, individuals and entities from sanctioned countries are unable to use UOB’s service to open accounts in Vietnam. 

List of Sanctioned Countries:

1. The Crimea region in Ukraine 
2. Cuba
3. Iran
4. North Korea
5. Sudan
6. Syria
7. List of Selectively Sanctioned Countries: 
8. Zimbabwe
9. Belarus
10. Venezuela
11. Russia
    

For further information, please refer to UOB's approach to sanction compliance.
Any questions regarding this guide, please contact us through email at contact@gethomebase.com or phone/WhatsApp/Zalo via (+84) 964 245 404 for help.

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