Which US banks actually accept Vietnamese founders?
Mercury will not open accounts for founders living in Vietnam and Wise will not hold balances there. Relay does not list Vietnam as prohibited. All three positions were read from the providers' own pages.
Provider by provider
Verified July 28, 2026
Vietnam appears on Mercury's published prohibited-countries list, based on founder residence.
Vietnam is not on Relay's prohibited list, and Relay accepts US entities with owners based outside the US. Approval remains discretionary.
Vietnam is not among the countries where Wise permits holding a balance. Wise can still send money to Vietnamese bank accounts.
Payoneer supports Vietnam as a market, with Vietnamese-language support.
Provider country policies change without public notice — Mercury revised its prohibited list in 2024 and has amended it since. Treat this page as a starting point that was accurate on the date shown, then check the provider's own page before you apply. We would rather you verify us than trust us on something this consequential.
Registration comes before banking
Vietnam regulates outbound investment rather than prohibiting it, and the rules got materially lighter in 2026. Decree 103/2026, effective 3 April 2026, exempts outbound projects below VND 7 billion in non-conditional sectors from needing an Offshore Investment Registration Certificate — bank foreign-exchange registration and a declaration are enough. It expressly covers individuals holding Vietnamese nationality. Most guidance online predates this and is more pessimistic than the current rules.
Paying for the company is not a permitted one-way transfer
Circular 20/2022 lists the purposes for which individuals may transfer currency abroad — study, medical treatment, travel, supporting relatives, inheritance, emigration. Investing in a foreign company is not on that list, which is precisely why the outbound investment route above exists as a separate process. Using the wrong channel is the common mistake here.
No treaty, which affects more than you might expect
A US–Vietnam tax treaty was signed in 2015 but never ratified, and Vietnam is absent from the IRS list of treaties in force. There is no reduced withholding to rely on and no residency tie-breaker. That is worth modelling before you decide where income should land.
Worth knowing before you buy
The compliant path here involves registration steps that most formation services will not mention because they happen on the Vietnamese side, not the US side. Budget for a Vietnamese adviser. Forming the LLC is the easy part; doing it in a way that holds up locally is the part worth paying for.
Common questions
Mercury rejected me. What are my options?
Relay does not list Vietnam as prohibited and accepts US entities with owners based outside the US, so it is the usual next step. Payoneer serves Vietnam for receiving payments. Wise does not permit Vietnamese residents to hold balances, though it can send to Vietnamese accounts.
Do I need to register my US LLC in Vietnam?
Vietnam regulates outbound investment. Since Decree 103/2026 took effect in April 2026, projects under VND 7 billion in non-conditional sectors are exempt from the Offshore Investment Registration Certificate and need only bank foreign-exchange registration plus a declaration. The issuing authority is now the Ministry of Finance. Confirm your specific position with a Vietnamese adviser.
What happens if I skip registration?
Decree 340/2025 sets administrative penalties for outbound investment non-compliance. We do not have reliable data on enforcement rates and neither does anyone else publishing about this, so we will not speculate. What we will say is that the compliant path became lighter in 2026 and is worth taking properly.
Form your US LLC from Vietnam
Wyoming filing, Registered Agent, and EIN guidance. $100 state fee, filed in one to three business days.
RazorFile files companies. We are not a law firm, bank, or tax advisor, and nothing on this page is legal or tax advice.