Vietnam’s International Financial Centre: Tax Incentives and Regulatory Advantages

Vietnam has established a single International Financial Centre (IFC) operating across Ho Chi Minh City and Da Nang. The framework combines preferential tax treatment with more flexible rules for foreign exchange, accounting, financial innovation, talent mobility and dispute resolution.

For international financial institutions, funds, fintech companies and professional service providers, the IFC creates a distinct platform for conducting Vietnam-linked and cross-border financial activity. Access to its advantages depends on membership, licensing, project classification and continuing regulatory compliance.

Vietnam IFC at a glance

Feature	Key point
Legal model	One unified IFC operating in Ho Chi Minh City and Da Nang
Ho Chi Minh City	Primary capital-flow hub for banking, capital markets and large cross-border transactions
Da Nang	Innovation hub focused on fintech, digital finance, green finance and new financial models
Tax regime	Preferential CIT rates of 10 or 15 percent; targeted PIT exemptions through 2030
Operating framework	Special rules for foreign exchange, accounting, sandboxes, labour, immigration and dispute resolution

Legal and regulatory framework

Resolution No. 222/2025/QH15, effective from 1 September 2025, establishes the IFC’s overarching legal framework. Eight decrees issued on 18 December 2025 provide the principal implementing rules.

Instrument	Scope
Decree 323/2025/ND-CP	Establishment, locations, governance, membership and priority sectors
Decree 324/2025/ND-CP	Financial policies, CIT and PIT incentives, import duty, accounting and regulatory sandboxes
Decree 325/2025/ND-CP	Labour, employment, work permits and social security
Decree 326/2025/ND-CP	Land and environmental policies
Decree 327/2025/ND-CP	Entry, exit and residence of foreign nationals
Decree 328/2025/ND-CP	International arbitration and applicable-law framework
Decree 329/2025/ND-CP	Bank licensing, foreign exchange and AML/CFT controls
Decree 330/2025/ND-CP	Establishment and operation of commodity exchanges

The IFC is a specialised regulatory environment, but it is not outside Vietnamese law. Special IFC rules prevail only where the legislation provides different treatment; general Vietnamese law continues to apply to matters not specifically addressed.

Which activities receive priority treatment?

The appendix to Decree 323 identifies six broad groups of sectors, products and services prioritised for IFC development:

1. IFC infrastructure, including digital infrastructure, payment connectivity, financial logistics, clearing and settlement systems;
2. Green finance and finance connected with environmental, social and governance factors;
3. Commodity markets, derivatives and international trade finance;
4. Fintech and financial innovation;
5. Investment funds and asset management; and
6. Professional support services and other qualifying activities.

Classification matters because priority-sector projects receive the IFC’s most favourable corporate income tax treatment. Investors should map each proposed activity and revenue stream against the statutory list before calculating the expected tax benefit.

Tax incentive framework

Corporate income tax

Decree 324 provides two CIT regimes for income from new investment projects arising within the IFC.

Project	CIT rate	Period	Full exemption	50% reduction
Priority sector	10%	30 years	Up to 4 years	Up to 9 subsequent years
Other sector	15%	15 years	Up to 2 years	Up to 4 subsequent years

The preferential rate runs from the first year in which the project generates revenue. The exemption and reduction periods begin from the first year of taxable income. If no taxable income arises during the first three revenue years, the incentive period begins in the fourth year.

Enterprises must separately account for incentivised income. Where separate accounting is not possible, the eligible amount is allocated using the prescribed revenue or deductible-cost ratio. A project eligible for more than one CIT incentive may select the most favourable available treatment. Expansion projects remain subject to the conditions in the general CIT framework.

Personal income tax

Until 31 December 2030, qualifying Vietnamese and foreign managers, experts, scientists and highly skilled professionals may receive a full PIT exemption on salary and wage income earned from work performed within the IFC.

Eligible individuals must satisfy the prescribed position, qualification and experience requirements. A senior title alone does not establish eligibility. PIT exemption through 2030 may also apply to qualifying income from ownership of shares or capital contributions in an IFC member.

Import duty

The IFC is not a separate customs territory. Goods traded between the IFC and overseas markets remain subject to Vietnam’s customs and import-export tax rules, including preferences available under Vietnam’s international agreements.

Import duty exemptions are available for qualifying technical equipment, technology and software that cannot be produced domestically and are imported for IFC information infrastructure, management systems or large data-centre projects. Eligible goods imported to create fixed assets for IFC investment projects may also qualify.

The relevant items must fall within lists issued by the Executive Body based on the competent authority’s list of domestically available goods. Investors must notify the proposed duty-exempt import list and retain the required customs documentation. Where several incentives apply, the most favourable treatment may be selected.

Key regulatory advantages

Area	Technical advantage	Investor consideration
Foreign exchange	Designated accounts support specified foreign currency, investment and cross-border financing transactions.	Account routes, transaction purpose and AML/CFT controls still apply.
Accounting	Eligible members may use permitted international accounting standards or generally accepted accounting principles as official reporting frameworks.	Systems must still support Vietnamese tax and regulatory filings.
Regulatory sandbox	Approved products, services and business models may be tested within defined limits before wider implementation.	Approval is activity-specific and may restrict duration, customers, value and risk exposure.
Licensing	Dedicated executive and supervisory bodies provide a clearer channel for membership, licensing and regulatory administration.	Regulated activities remain subject to capital, governance and prudential conditions.
Talent mobility	More flexible foreign-worker recruitment, expedited permits and facilitated visa and residence arrangements.	Employment, immigration and PIT eligibility must be assessed separately.
Dispute resolution	A specialised court and International Arbitration Centre support qualifying IFC disputes.	Contracts should expressly address forum, governing law and arbitration.

Foreign exchange flexibility

Decree 329 and Circular No. 72/2025/TT-NHNN establish the account framework for foreign exchange activity. Depending on the parties and transaction, the regime can support foreign currency dealings between members, transactions with offshore counterparties, capital contributions, international borrowing, repayments and transfers of lawful investment proceeds.

The framework can reduce the need to route Vietnam-linked financing through an offshore treasury or holding structure. It does not remove banking supervision, account-use rules, reporting requirements or AML/CFT controls.

International accounting

The ability to adopt an eligible international accounting framework can simplify consolidation for multinational groups and improve comparability for investors and lenders. Members should confirm the selected standard, apply it consistently and ensure that their systems can generate the information required for local tax and regulatory compliance.

Financial innovation and sandboxes

The sandbox framework is relevant to digital assets, tokenisation, blockchain infrastructure, payments, automated financial services, green-finance platforms, carbon markets and new custody, clearing or settlement models. Participation is a controlled testing mechanism rather than a general exemption from regulation.

Talent sourcing and dispute resolution

The labour and immigration rules are intended to make it easier for members to recruit and retain international financial specialists.

Separately, Decree 328 and Law No. 150/2025/QH15 provide dedicated arbitration and court mechanisms for qualifying disputes, including scope for English-language proceedings and, where permitted, the application of foreign law or international commercial practice.

Who should assess IFC participation?

Participant	Potential value
Banks and financial institutions	Cross-border financing, foreign-currency activity and access to a concentrated financial ecosystem
Funds and asset managers	Priority-sector tax treatment, capital access and supporting financial infrastructure
Fintech and digital-finance businesses	Sandbox access, innovation infrastructure and specialist talent
Green-finance platforms	Priority treatment for sustainable-finance products, ESG services and carbon-market activity
Multinational treasury operations	More direct capital mobilisation and foreign-exchange channels for qualifying transactions
Professional service providers	Access to IFC clients and potential priority treatment for qualifying support services

What should investors assess before applying?

1. Activity classification: Confirm that the proposed products, services and income streams are permitted and determine whether they fall within a priority sector.
2. Membership and licensing: Identify the relevant Executive Body, required licence, capital threshold, ownership conditions and governance standards.
3. Tax model: Calculate the effective CIT, PIT and import-duty benefit, including the start of incentive periods and the allocation of eligible income.
4. Operating structure: Map the entity, personnel, premises, accounts, financing flows, contracts, accounting framework and technology infrastructure.
5. Compliance readiness: Prepare controls for AML/CFT, tax, accounting, cybersecurity, data protection, risk management and regulatory reporting.

The IFC’s commercial proposition is the combination of tax relief with greater operating flexibility. Membership alone does not secure every benefit; the entity, project, income, personnel and transactions must satisfy the applicable conditions.

Key takeaway

Vietnam’s International Financial Centre creates a new route for conducting financial and supporting activity from within the country under a more internationally aligned framework. Its most immediate benefits are the preferential CIT and PIT regimes, foreign-exchange flexibility, international accounting options and dedicated mechanisms for innovation, talent and dispute resolution.

Investors should approach participation as an operating-model decision. Early assessment of activity classification, licensing, tax eligibility, financial flows and compliance requirements will determine whether the IFC provides a practical advantage over an ordinary Vietnam structure or an existing regional hub.