Removing procedural bottlenecks for foreign indirect investors.

VTV.vn - The State Bank of Vietnam has recently sent a document to commercial banks requesting compliance with regulations on opening accounts for foreign investors making indirect investments in Vietnam.

The new regulations create more favorable conditions for foreign capital to participate in the market.

Accordingly, in implementing the Government 's directive on upgrading the Vietnamese stock market, the State Bank of Vietnam (SBV) has requested commercial banks and branches of foreign banks to update the new regulations. Specifically, foreign investors are no longer required to have their documents for opening indirect investment accounts legalized by consular authorities, shortening the account opening time from several months to just a few days. The circular also eliminates the requirement for consular legalization and expands the required identification documents beyond passports.

Furthermore, banks are not required to monitor the validity of identity documents or retain customer signature and seal samples. This facilitates the opening of money accounts by foreign organizations and promotes the flow of foreign capital into the Vietnamese market.

The Circular also stipulates that all transactions related to foreign indirect investment in Vietnam must be conducted through an indirect investment account, which is a VND payment account opened by the foreign investor at an authorized bank. Furthermore, the balance in the indirect investment account cannot be transferred to time deposits or savings deposits, in order to control capital flows and ensure transparency in transactions.

Foreign investors are not permitted to open joint indirect investment accounts (where two or more entities jointly hold the account) to conduct indirect foreign investment activities in Vietnam. Money transfer orders related to indirect foreign investment activities in Vietnam by foreign investors must clearly state the purpose of the transfer so that authorized banks have a basis for verification, inspection, document retention, and transaction processing.

Shorten the account opening time for foreign indirect investors.

According to the State Bank of Vietnam, the new regulations not only enhance transparency and simplify administrative procedures but also create more favorable conditions for foreign capital to participate in the market. This is considered an important step, contributing to resolving one of the bottlenecks in the roadmap to upgrade the Vietnamese stock market.

Circular No. 25 has also expanded the rights of foreign investors, raising expectations for a breakthrough in attracting foreign capital flows into the stock market. Specifically, Circular 25 supplements the contents of Article 6 and several related clauses, facilitating indirect investment activities for non-resident foreign investors. While many other provisions take effect from March 1, 2026 or December 1, 2025, the regulations in Article 6 and related clauses take effect immediately from the date of signing and issuance.

Specifically, Article 6 allows foreign investors to authorize financial institutions to open, close, and use payment accounts. Banks and branches of foreign banks are responsible for identifying investors and authorized organizations in accordance with anti-money laundering laws.

Circular 25 also allows the use of the SWIFT system for opening and using payment accounts, opening foreign currency accounts electronically, and does not require biometric verification when conducting electronic payment transactions.

The process for opening securities accounts for foreign investors has been shortened: after being granted an electronic securities trading code (e-STC) by the Vietnam Securities Depository and Clearing Corporation (VSDC), investors will be able to open a trading account at a securities company and an indirect investment account at a custodian bank.

Source: https://vtv.vn/go-nut-that-thu-tuc-cho-nha-dau-tu-gian-tiep-nuoc-ngoai-100250924095400488.htm