How to Receive International Payments as a Freelancer in Vietnam (2026)

SBV regulates all foreign currency transactions in Vietnam under Circular 32/2013 and subsequent amendments. For freelancers:

• Mandatory conversion: individuals who receive foreign currency remittances must sell the foreign currency to an authorised credit institution within a regulated period. In practice, when Wise or Payoneer transfers VND to your bank, this conversion has already occurred.
• Foreign Currency Account (FCA): you can open an FCA at a State-authorised commercial bank (Vietcombank, BIDV, Techcombank) to temporarily hold USD before conversion. You must have a legitimate reason (service exports qualify).
• SBV Circular 32: requires that foreign currency received from exports of services be repatriated to Vietnam and converted. Using Wise's Vietnamese bank transfer route automatically satisfies this.
• Transactions above $10,000 may require declaration to SBV via your receiving bank. Your bank handles this automatically — but keep your invoice documentation.
• Wise and Payoneer are both licensed by SBV as payment service providers. Their transfers to Vietnamese banks are fully compliant.

Wise is increasingly well-supported in Vietnam. Here's the setup process:

1. Create a Wise Business account at wise.com/business. Use your Vietnamese ID (CCCD — Căn cước công dân) and passport for KYC. Wise accepts Vietnamese residents.
2. Get your USD virtual account details (US routing number + account number). Share these with US clients as their local bank payment instructions — they pay free via ACH.
3. For EU clients, get your EUR IBAN from Wise's account details. They can send a free SEPA transfer.
4. When USD/EUR arrives in Wise, convert to VND. The rate is shown upfront before you confirm.
5. Withdraw to your Vietnamese bank account. Enter your bank and account number. Funds arrive via Napas within 1–2 business days.

Vietnam taxes individual income under the Law on Personal Income Tax No. 04/2007/QH12 (amended). Foreign-source income from services rendered in Vietnam is fully taxable:

• Register for a Tax Code (Mã số thuế) at your local Tax Department (Chi cục thuế). You'll need this to file returns and open a business bank account.
• Business individuals (hộ kinh doanh / cá nhân kinh doanh): if you operate as a sole business individual, you can apply a 5% flat tax rate on IT services revenue (turnover tax regime). This is simpler than the full progressive income tax regime.
• Full progressive PIT rates: 5% on income up to VND 60 million/year, 10% up to VND 120 million, 15% up to VND 216 million, 20% up to VND 384 million, 25% up to VND 624 million, 30% up to VND 960 million, 35% above.
• Personal deductions: family circumstance deductions — VND 11 million/month for the taxpayer, VND 4.4 million/month for each dependent (registered with the tax office).
• Annual tax finalisation return (quyết toán thuế): due by April 30 of the following year. File at your tax department.
• Freelancers earning above VND 100 million/year from a single payer should ensure proper withholding documentation. Foreign clients don't withhold Vietnamese PIT — you pay it directly.