Transfer Money from Vietnam: Rules, Documents and Fees

To transfer money from Vietnam overseas, start with the purpose and source of the payment. A foreign employee sending salary home, a company paying an overseas supplier and an investor remitting profits need different supporting records and may use different account arrangements.

An authorised bank checks the transaction against the documents, converts currency where required and sends the funds to the beneficiary. Preparing a consistent file before requesting the transfer is the most useful way to reduce avoidable delays.

Which Transfer Route Applies?

Purpose	Common account route	Evidence to prepare
Foreign employee remitting lawful salary or savings from employment	Personal bank account	Passport and residence evidence, employment and income records, bank statements and relevant tax documents
Company paying an overseas goods or service supplier	Appropriate company payment account	Contract, invoice, delivery or service evidence, customs records where applicable and tax treatment
Foreign investor remitting distributed profits	Applicable investment-account route for the entity and transaction	Audited statements, tax finalisation, distribution approval and tax-authority notification
Repayment of a foreign loan	Account required for that borrowing arrangement	Loan contract, drawdown evidence, repayment schedule and registration or amendment documents where required
Remitting capital or exit proceeds	Applicable investment-account route	Capital or transfer records, relevant approvals, transaction documents and tax-completion evidence

The account route must match the underlying transaction. Calling a distribution a service fee or loan repayment does not change its actual nature or the evidence needed to support it.

Sending Salary and Personal Income Abroad

Decree 70/2014/ND-CP permits resident and non-resident foreign individuals to remit qualifying foreign currency and lawful income. Where the lawful income is in Vietnamese dong, the individual can purchase foreign currency for remittance.

For an employment-income transfer, organise the following practical file:

• Valid passport and the visa or residence evidence held by the bank.
• Employment contract and any relevant amendments.
• Payslips or the employer’s salary confirmation.
• Bank statements showing salary receipts and the available balance.
• Relevant personal-income-tax records, especially where requested to establish the net lawful income.
• Beneficiary’s full name, address, account details, bank name and SWIFT/BIC; include an IBAN where the destination uses one.

The precise checklist depends on the bank, source of income and transaction. Make the documents tell a continuous story: employment gives rise to salary, salary reaches the account, and the proposed remittance is supported by that lawful balance.

If the funds came from a property sale, inheritance or another source, use the corresponding ownership, sale, inheritance and tax evidence. A salary contract does not explain unrelated receipts.

What the Bank Checks

HSBC’s published individual-customer guidance identifies the purpose, amount, currency, timing and beneficiary as key supporting information. Its foreign-customer section describes remittance of lawful foreign-currency funds and conversion of lawful dong income. This is a useful bank example; the receiving bank’s own file requirements still apply.

Remitting Company Profits from Vietnam

Foreign investors should plan annual profit remittances with the company’s finance team after the financial year closes. Circular 186/2010/TT-BTC requires the relevant financial obligations to be fulfilled and the audited financial statements and corporate-income-tax finalisation return to be submitted.

The profit-remittance notification form is annexed to the circular. It records the investor, Vietnamese company, profit available, profit already used and the amount proposed for remittance.

The company cannot remit annual profits in the circumstances specified by the circular where accumulated losses remain after loss carry-forward. A cash balance in the bank is therefore not enough to establish distributable profit.

Profit-Remittance Documents

Prepare a coordinated file containing:

• Audited financial statements for the relevant year.
• The corporate-income-tax finalisation return and submission evidence.
• Records showing tax and other financial obligations have been completed.
• The profit calculation, including retained earnings, losses and prior distributions.
• The competent company body’s decision or resolution approving the distribution.
• Ownership and investment documentation identifying the recipient and entitlement.
• The completed profit-remittance notification and evidence of submission to the directly managing tax authority.
• Bank transfer instructions, beneficiary details and the account records required for the investment route.

The foreign investor, directly or through the company it authorises, must notify the directly managing tax authority at least seven working days before remittance. This is a notification requirement. Keep the submitted notice and receipt in the same file as the bank instruction and supporting financial statements.

Use the Current Investment-Account Rules

Circular 38/2026/TT-NHNN governs the current foreign-investment foreign-exchange arrangements. It replaced Circular 06/2019/TT-NHNN from 18 August 2026.

The current rules use investment capital accounts for the covered investors and economic organisations. They set out permitted receipts and payments, including transfers of capital, profits and lawful investment revenues. The bank must identify whether the entity and transaction fall within those account rules or another applicable investment route.

For an existing company, give the bank its current ownership structure, investment registration records and details of any restructuring before the first transfer under a changed structure. Keep the relevant account and investor details consistent with the profit-distribution file.

Paying Overseas Suppliers and Service Providers

For a commercial payment, prepare the signed agreement, invoice and evidence that the payment is due. Goods payments may require import or customs documentation appropriate to the payment stage. Service payments should include the scope of work, completion or acceptance evidence and the agreed fee calculation.

Review the Vietnamese tax treatment before paying. The contract should make clear whether the quoted fee includes taxes and which party bears any required withholding. The treatment depends on the actual supply and circumstances; do not assume every overseas service invoice uses the same rate.

For related-party payments, retain evidence of the commercial service or goods, the pricing basis and the benefit to the Vietnamese company. If the invoice beneficiary differs from the contract party, document the legal basis for that arrangement before instructing the bank.

Repaying Foreign Loans or Returning Capital

A loan repayment should follow the genuine loan agreement, recorded drawdowns and repayment schedule. Circular 12/2022/TT-NHNN sets out foreign-loan registration requirements, including medium- and long-term borrowing and specified short-term loans that become subject to registration. Prepare the registration confirmation and amendments where the loan falls within those requirements.

An interest-free shareholder loan still needs proper documentation and the correct foreign-exchange and tax treatment. It should not be used as a label for money that was actually contributed as equity.

For capital reduction, sale proceeds or project termination, prepare the corporate or investment changes, transfer or liquidation documents and tax records relevant to the exit. Circular 38’s capital-transfer provisions explain the permitted route for covered investment transactions. The bank will need to see how the requested amount arises from the completed transaction.

How to Make the Transfer

Step One: Identify the Purpose and Account

Classify the transaction as personal income, supplier payment, profit, debt or capital. Confirm that the paying account and beneficiary match that purpose and the applicable account rules.

Step Two: Assemble and Reconcile the File

Match names, amounts, currencies, invoice references and dates across the documents. Explain partial payments, withholding, bank charges and any difference between the contract amount and proposed transfer.

Step Three: Obtain a Complete Bank Quote

Ask for the exchange rate, transfer charge, correspondent-bank charges and the fee-sharing arrangement. Establish whether the beneficiary must receive an exact amount. Obtain the required beneficiary bank details directly from a verified contact, particularly if payment instructions have changed.

Step Four: Submit and Track

Provide the documents and payment instruction through the bank’s supported channel. Retain the transaction reference and transfer confirmation. If the payment is delayed, use that reference to request a trace and answer any document query with the corresponding contract or source-of-funds evidence.

Step Five: Reconcile Receipt

Confirm the beneficiary’s receipt and record any difference caused by fees, conversion or an agreed withholding. For company payments, match the transfer to the invoice, loan ledger, capital record or profit-distribution entry.

Transfer Fees, Exchange Rates and Timing

Cost or timing factor	What to ask
Sending-bank fee	Is it fixed, percentage-based, capped or different by channel?
Currency conversion	What amount of dong buys the foreign currency after the quoted spread?
Intermediary and receiving-bank deductions	Which charges are included and which can still be deducted later?
Fee allocation	Who bears the charges, and is an exact beneficiary receipt available?
Processing	Has the document review finished, and what is the cut-off for that currency?

HSBC’s transfer guide gives a general bank-wire range of one to five business days. The actual route can take longer where documents require review, intermediary banks ask questions or holidays affect settlement. Ask the bank for the expected timing after it has accepted the complete instruction.

Illustrative fee comparison: a lower visible transfer charge can be outweighed by a less favourable conversion rate. Compare the total dong debited for the same foreign-currency amount delivered to the same beneficiary, using quotations obtained at the same time.

Can You Use Wise to Send Vietnamese Dong Overseas?

Wise lists VND under currencies you can only send money to, rather than currencies that can fund a transfer. Receiving a VND payment in Vietnam through an international service does not establish that the same service can originate an outbound dong transfer.

For money held in a Vietnamese bank account, use an authorised provider that supports the actual outbound transaction and its documentation. Compare supported currencies and routes before transferring money to another platform.

Common Causes of Delays

• The beneficiary name or account differs from the contract or approved distribution.
• The bank cannot trace the proposed amount to lawful income or a documented business obligation.
• Investment-account information has not been updated after ownership or registration changes.
• The profit file lacks audit, tax or notification evidence.
• A loan repayment differs from the registered terms or repayment schedule.
• A payment instruction arrives after the relevant currency’s cut-off or requires an intermediary-bank response.

Prepare the transfer file before the contractual due date or planned distribution. For household planning, our living-in-Vietnam guide covers the wider banking and relocation arrangements.

Conclusion

A successful overseas transfer starts with a clear purpose, the correct account and documents that explain the amount and recipient. Foreign investors should align profit distributions, loan repayments and capital transactions with their financial and tax records before approaching the bank. InCorp Vietnam’s tax advisory services and bookkeeping services can help prepare the underlying records and resolve discrepancies before payment.