Vietnam issues new regulations for banking transactions and foreign resident registration

Authorities in Vietnam have issued guidance regarding potential disruptions to banking services and new requirements for temporary residence registration for foreigners.

Bank customers may face restrictions on online transfers, payments, or withdrawals if they fail to meet specific requirements. Key triggers for transaction suspensions include failure to complete biometric authentication, using expired identification documents, or using outdated identity cards that no longer meet current standards. Additionally, Vietnamese citizens using passports for banking must ensure their information is reviewed according to current identification requirements, while foreign residents must maintain valid proof of residency.

Regarding housing, new regulations mandate that owners of houses or apartments rented to foreigners must ensure proper temporary residence declarations are made. Under Circular No. 87/2026/TT-BCA, the responsibility for declaring the residence of foreign guests lies with the property owner, legal representative, or an authorized person. This applies to various accommodation types, including hotels, guesthouses, and rental apartments, even when management is handled through intermediaries or digital platforms.