What are regulations on depository accounts from foreign investment activities in Vietnam?

According to Article 4 of Circular 51/2021/TT-BTC, the regulations on depository accounts in Vietnam are as follows:

1. After obtaining securities trading codes, foreign investors and issuers of depositary receipts in foreign countries shall open depository accounts in accordance with regulations of law on registration, depositing, clearing and settlement of securities transactions.

2. Foreign investors and issuers of depositary receipts in foreign countries shall open depository accounts at custodian banks according to the rule that, for each securities trading code granted, only 01 depository account is opened at a custodian bank. In addition to depository accounts opened at custodian banks, foreign investors and issuers of depositary receipts in foreign countries shall be allowed to open depository accounts at securities companies according to the rule that only 01 depository account is opened at each securities company.

3. In case of change of custodian bank, the foreign investor or issuer of depositary receipts in foreign countries must close their depository account at the current custodian bank after the entire balance on this depository account has been transferred to the depository account opened at the new custodian bank. Procedures for transfer of securities between depository accounts shall conform to regulations of law on registration, depositing, clearing and settlement of securities transactions.

Best Regards!