What are the procedures for opening a corporate bank account? How to do it? Are there any service fees? fdiinvietnam.com will answer the questions in the article.
Why open a bank account for a company?
After establishment, there are many procedures that companies and businesses must perform (refer to the article Things to do immediately after establishment). Among them, opening a bank account is necessary and a top priority. Although the law does not require companies and businesses to open a bank account, in reality, any company or business needs at least one bank account to manage and perform some tasks.
Having a bank account will demonstrate the professionalism of the company and business to competitors and customers.
See more : Benefits of opening a corporate account.
Note: Each business or company can open many different bank accounts. However, a bank account can only represent one business or company. Depending on the needs of each unit, it is possible to choose to register the number of accounts.
Documents and procedures for opening a bank account for businesses
The specific process for opening a corporate or business bank account is as follows:
Step 1: Choose a bank to open an account. So which bank should you open an account with? You should choose a bank that has a branch/transaction office near the company or business headquarters or has many transaction points nationwide for more convenience in future transactions.
Step 2: Prepare documents to open a bank account for businesses and companies, including:
- 1 certified copy of business registration certificate;
- 1 certified copy of the chief accountant’s identity card (if any);
- 1 certified copy of the legal representative/account owner’s identity card;
- 1 certified copy of the identity card of the authorized person to transact at the bank (if any);
- 1 application form for opening an account according to the bank’s form (you can download the form from the bank’s website or get the form directly at the bank).
Step 3: After completing the application, bring the application to the bank with the company seal and prepare some money to deposit into the account (the minimum deposit amount depends on the regulations of each bank).
Step 4: Order a CHECK at the bank to withdraw money when there is account balance.
Procedures for registering a bank account with the Department of Planning and Investment
According to previous regulations, within 10 days after opening a bank account, companies and enterprises are required to notify the bank account to the Department of Planning and Investment to obtain information and control transactions.
There are 2 ways to register a bank account with the Department of Planning and Investment:
- Method 1: Submit directly to the Department of Planning and Investment;
- Method 2: Submit online at the National Business Registration Portal.
However, from May 1, 2021, you no longer need to do procedures with the Department of Planning and Investment.
Instead, you can make form 08/MST and send it to the tax authority (if the tax authority directly in charge requests it). You can submit it directly to the tax authority in charge of the locality where the business is headquartered.
Free corporate bank account opening service at fdiinvietnam.com
fdiinvietnam.com currently has a company registration service package, which includes support for free bank account registration.
fdiinvietnam.com is affiliated with major banks such as:
| Ho Chi Minh City | Hanoi | Danang |
| MB
ACB UOB Vietcombank |
MB
ACB BIDV |
MB
Sacombank |
If you need to open a bank account at these banks, we will support bank staff to contact you directly to open an account. You do not have to pay fees and spend a lot of time traveling.
In particular, when using the company establishment service at fdiinvietnam.com with a service fee of only 250,000 VND, you will be able to open a free bank account.
For any questions about the service of opening a bank account for the company, you can call fdiinvietnam.com for the fastest support.
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Frequently asked questions when opening a bank account
1. Is it mandatory to open a corporate bank account?
No – But in reality, companies and businesses need bank accounts to perform many tasks such as: storing money; paying bills; receiving payments from partners and customers; paying taxes to the state… In addition, all transactions over 20 million VND must be made through a bank account.
See more : Benefits of opening a corporate account
2. Can I open multiple bank accounts for the company?
Yes – Each business or company can open multiple bank accounts. But one bank account can only represent one business or company.
3. What documents are required to open a bank account for a company?
You need to prepare documents such as: application form for opening an account according to the bank’s form; certified copy of business registration certificate; choose a suitable bank to open an account; certified copy of personal identification of the legal representative/account owner; certified copy of personal identification of the authorized person, chief accountant (if any).
See more : Procedures for opening a bank account for businesses
4. Do I have to notify the Department of Planning and Investment of my bank account?
No – From May 1, 2021, businesses no longer need to submit bank account registration documents to the Department of Planning and Investment.
5. Is there a fee for opening a bank account at fdiinvietnam.com?
No – fdiinvietnam.com is currently associated with major banks such as Vietcombank, Vietinbank, UOB, BIDV, MB, ACB. For any company or business that needs to open an account at these banks, fdiinvietnam.com will support bank staff to contact you directly to open an account, free of charge. The service of opening a bank account is free when the company or business registers for the establishment service package at fdiinvietnam.com.
See more: Company registration service
Call us at 0978 578 866 (North) , 033 9962 333 (Central) or 033 9962 333 (South) for support.