Government Bond Purchasing Process

Process for foreign investor purchasing Government Bonds


There are no regulatory restrictions on offshore holdings in the bond market.


Account opening

Cash account

Depository account

Trading account

Process duration

Local custodian

Local custodian


Approximately 2-3 weeks


Special requirements


Foreign investors must apply for a Securities Trading Code from the Vietnam Securities Depository. The following documents are required for the application for a Securities Trading Code:

·        Registration form for Securities Trading Code

·         Notarised certificate of incorporation or business/investment licence or other legal evidence of incorporation

·         Notarised power of attorney to a local custodian, supported by the notarised company’s authorised signature list if a company seal is not available

·         Other documents (for hedge funds) or as deemed necessary by the Vietnam Securities Depository


Below is the trade and settlement flowchart for non-resident investors investing in Government Bond and Treasury Bill



Non –residents don’t have to pay corporate income tax of 20%.

There are 2 kind of tax that impose on non –residents: 5% on coupon income and 0.1% tax on total proceeds from sale