I. Legal Basis

• Circular 06/2019/TT-NHNN

II. What is a Foreign Direct Investment Account?

According to Clause 5, Article 3 of Circular 06/2019/TT-NHNN, a Foreign Direct Investment Account (DICA) is a payment account in foreign currency or Vietnamese dong opened by a foreign-invested enterprise or foreign investor at an authorized bank to conduct transactions related to foreign direct investment activities.

III. How Many Foreign Direct Investment Accounts Can a Foreign Investor Open?

According to Clause 2, Article 5 of Circular 06/2019/TT-NHNN, a foreign investor wishing to open a foreign direct investment account in Vietnam must meet the following conditions:

• Open a foreign currency direct investment account at one bank to carry out transactions in foreign currency related to investment activities;
• For each foreign currency used for investment, only one foreign direct investment account in that currency may be opened at one bank;
• If the foreign investor invests in Vietnamese dong, they may open an additional foreign direct investment account in Vietnamese dong at the bank where the foreign currency account was opened;
• For PPP projects or BCC contracts, a separate investment account must be opened for each project, regardless of whether they are with the same authorized bank or not.

The number of foreign direct investment accounts a foreign investor can open depends on the specific case. There is no maximum limit on the number of foreign direct investment accounts a foreign investor can open.

IV. Which Account Should a Foreign Investor Use to Transfer Investment Funds from Abroad to Vietnam?

According to Clause 1, Article 5 and Clause 1, Article 8 of Circular 06/2019/TT-NHNN, when a foreign investor transfers money from abroad to Vietnam for an investment project, the transfer must be made through a foreign direct investment account.

V. About Us, Hankuk Law Firm

■ Hankuk Law Firm – Introduction

The goal of the legal services provided by HANKUK LAW FIRM is to support businesses, investors, and people. Our organization employs skilled Korean lawyers, partners, and professionals to provide legal services to businesses related to corporations and litigation.

To support the startup process, our lawyers and staff provide a wide range of services, including business law consulting, tax and immigration law consulting, real estate services, business consulting, marketing and communications, human resources, product distribution, franchise options, etc. We provide expert advice on every aspect of your business needs.

To protect the legitimate rights and interests of our clients and achieve the best results, we provide legal advice and participate in civil lawsuits related to business, labor, marriage, family, and inheritance.

■ Contact us now

For reliable and effective legal advice, please contact HANKUK LAW FIRM now. We are committed to providing you with the best possible answers and our team of experienced lawyers has extensive knowledge in many legal fields. We are always here to provide the most competent and dedicated support, whether you are dealing with contractual issues, commercial disputes or need guidance on foreign investment. HANKUK LAW FIRM is honored to have assisted hundreds of domestic and international clients in skillfully resolving complex legal issues as their trusted legal partner. Do not let legal issues hinder your success. Let us accompany you towards legal achievement and comfort. For prompt guidance and support to ensure your rights are always maintained at the highest standards, contact HANKUK LAW FIRM now.

■ Contact Hankuk Law Firm:

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