Investment capital account, capital remittance and profit transfer

Yes. An economic organization established by a foreign investor must close the investment capital account upon dissolution, bankruptcy or termination of operations in accordance with the law. The exception (verbatim from the opening of Clause 5): “Except where the investment capital account is being used to carry out foreign loans, repayment of foreign debts or lawful payment obligations”.

• The procedure for closing the account follows the State Bank regulations on opening and using payment accounts.

Legal basis: Clause 5 (Point a, item iii) and Clause 7, Article 7 of Circular 38/2026/TT-NHNN — Clause 7 verbatim: “The procedures for opening and closing investment capital accounts shall comply with the regulations of the Governor of the State Bank of Vietnam on opening and using payment accounts at payment service providers.” Further reading: /kien-thuc/giai-the-doanh-nghiep-von-nuoc-ngoai/.

From 18/8/2026, Circular 38/2026/TT-NHNN replaces Circular 06/2019/TT-NHNN and replaces the term “direct investment capital account” with “foreign investment capital account in Vietnam” in the State Bank circulars issued earlier. In Circular 38, this type of account is referred to in short as the “investment capital account”.

Legal basis: Article 18 of Circular 38/2026/TT-NHNN. Further reading: /kien-thuc/fdi-tang-von-chuyen-nhuong-von/.

The transfer of a foreign investor's capital abroad upon the conclusion, liquidation or termination of an investment project must be made through the investment capital account. The exception is where the account has been closed in accordance with regulations, in which case the money follows a separate route (see HD-062).

• Conditions for remitting capital abroad after completing financial obligations: see question b31.

Legal basis: Clause 1, Article 11 of Circular 38/2026/TT-NHNN. Further reading: /kien-thuc/fdi-rut-khoi-viet-nam/.

After the investment capital account has been closed (for example due to dissolution), returned capital and other lawful revenues arising from investment activities at that same economic organization are transferred to the foreign investor's foreign-currency or Vietnamese dong payment account opened at an authorized bank, or remitted abroad.

Legal basis: Point c, Clause 5, Article 7 of Circular 38/2026/TT-NHNN.

Profits and other lawful revenues from a foreign investor's investment activities in Vietnam, when remitted abroad, must pass through the investment capital account; except where the account has been closed in accordance with regulations, in which case the route in HD-062 applies.

Legal basis: Clause 1, Article 12 of Circular 38/2026/TT-NHNN. Further reading: /kien-thuc/fdi-rut-khoi-viet-nam/.

Capital and profits that are not remitted abroad may be transferred from the investment capital account to the foreign investor's payment account opened at an authorized bank, in order to carry out a project or other investment activities in Vietnam in accordance with the law on investment.

• This option usually goes together with a transfer or restructuring rather than a complete closure.

Legal basis: Clause 2, Article 11 and Clause 2, Article 12 of Circular 38/2026/TT-NHNN. Further reading: /kien-thuc/fdi-tang-von-chuyen-nhuong-von/. Thái Tín can work with the enterprise to compare the options of complete closure and reinvestment.

The investor or enterprise must truthfully and fully declare the content of the transaction, clearly state the purpose of the transfer, provide documents and supporting papers as requested and guided by the authorized bank, and bear responsibility for the authenticity of the documents. After the IRC and ERC are issued or adjusted, the economic organization must supplement these certificates to the bank where the account is opened.

Legal basis: Clauses 2 and 3, Article 15 of Circular 38/2026/TT-NHNN. Thái Tín supports the preparation of the set of supporting documents for capital transfer transactions when closing down.

Where an economic organization no longer has any foreign investor holding capital, or has not been granted or had adjusted its IRC and has refunded the capital contributions, but has not yet closed the investment capital account, it must close the account within 12 months from 18/8/2026 (the effective date of Circular 38/2026/TT-NHNN).

Legal basis: Article 7, Article 18 and Article 19 of Circular 38/2026/TT-NHNN.