Simplify the procedure for opening an indirect investment account

From June 16, Circular No. 03/2025/TT-NHNN of the State Bank, regulating the opening and use of Vietnamese Dong (VND) accounts for foreign indirect investment in Vietnam, will take effect, with a series of new points.

All investment transactions must be made through a VND account. Illustration photo

Specifically, the State Bank has just issued Circular No. 03/2025/TT-NHNN, replacing Circular No. 05/2014/TT-NHNN to reform administrative procedures, contributing to removing barriers and opening the door to attracting foreign capital into the stock market.

Circular regulating the opening and use of VND accounts for non-resident foreign investors conducting indirect investment activities in Vietnam.

Subjects of application include foreign investors, banks licensed to trade in foreign exchange and organizations and individuals involved in foreign indirect investment activities in Vietnam.

In order to simplify the procedure for opening an indirect investment account, foreign investors no longer have to consularize their documents when opening an account, helping to shorten the account opening time from several months to a few days.

The Circular requires that all revenue and expenditure transactions related to foreign indirect investment activities in Vietnam must be conducted through an indirect investment account, which is a VND payment account of the foreign investor opened at a licensed bank.

Balances in indirect investment accounts cannot be transferred to term deposits and savings deposits, in order to control capital flows and ensure transparency in transactions.

The issuance of Circular 03 is expected to standardize the process of opening and using indirect investment accounts in Vietnamese Dong for foreign investors. The new regulation not only enhances transparency and simplifies administrative procedures but also creates more favorable conditions for foreign capital to participate in the market.

This is considered an important step forward, contributing to removing one of the bottlenecks in the roadmap to upgrade Vietnam's stock market.

Source: https://hanoimoi.vn/don-gian-hoa-thu-tuc-mo-tai-khoan-dau-tu-gian-tiep-702941.html