Moving to Vietnam: visas, banking and SIM cards

By Linh Nguyen, Vietnam host 21 October 2026 6 min read

Vibrant night scene of people enjoying street food outside a Vietnamese sandwich shop in Hanoi. — Photo by Hồng Quang Official on Pexels

The air in Hanoi right now has a specific weight to it. It is the tail end of autumn, that brief, golden stretch of the year when the humidity finally breaks and the city exhales. If you walk down any street in the Old Quarter or along the tree-lined avenues near Hoan Kiem after sunset, you will smell it first: the heavy, sweet perfume of hoa sữa (milk flower). By day, the scent shifts to the green, grassy aroma of cốm (green rice) being sold wrapped in lotus leaves on every other corner. This is not just atmosphere; it is the feeling of a place that is ready for you, provided you have sorted the bureaucratic machinery that keeps life running smoothly.

Moving here is less about grand declarations and more about the small, unglamorous logistics of your first week. You need to enter legally, stay connected digitally, and ensure your money moves as freely as the motorbikes on Tran Nhan Tong pedestrian street. Let’s walk through the practical setup so you can stop worrying about the basics and start enjoying that bowl of phở bò.

Navigating Entry and Residence Basics

Your journey begins with the visa. Vietnam does not typically offer a simple “walk-in” tourist arrival for long-term stays without preparation. Most expats arrive on a 90-day single or multiple-entry e-visa, which is the standard entry point. However, if you are planning a longer residency—whether for work, study, or retirement—you will eventually need a temporary residence card (TRC). The TRC is your golden ticket because it saves you from constantly renewing visas at immigration offices or embassies. It is tied to your sponsorship, whether that is an employer or a business registration.

Upon landing, keep your passport safe and your entry stamp visible. Immigration officers are strict about the dates. Once you are settled, if you are staying longer than three months, you must register your temporary residence. This is a legal requirement where you notify the local police of your address within 30 days of arrival. In Hanoi, this often involves visiting the ward-level police station (Công an phường) with your passport, visa, and a confirmation of accommodation from your landlord. It sounds daunting, but it is usually a straightforward administrative formality. Do not skip it; failing to register can complicate everything from opening bank accounts to extending your stay later.

As you settle, you might notice the city shifting around events like the Korean Culture Road Festival returning to the stone wall near the embassy on Nguyen Xuan Khoat junction. These cultural touchstones remind us that while bureaucracy is rigid, the social fabric is vibrant. Your first task is simply to ensure your legal status is solid so you can enjoy these moments without anxiety.

Opening a Bank Account in Vietnam

In a country that is rapidly moving toward cashless payments, having a local bank account is no longer optional—it is essential. The Sóng Festival, currently taking over Tran Nhan Tong with QR-payment gimmicks and bank booths, is a clear signal of where the market is heading. While you can survive on cash for a few weeks, paying rent, buying a SIM card, and settling utility bills will be significantly smoother with a local account.

For foreigners, not all banks are created equal. International banks with a strong presence in Vietnam, such as Shinhan Bank and Woori Bank, are generally the most expat-friendly. They have English-speaking staff and processes designed for non-residents. For instance, you can visit Shinhan Bank Vietnam at the Le Thai To branch or their location in Hoan Kiem. Woori Bank also has a prominent branch in Hoan Kiem (Ngân hàng Woori Việt Nam). These institutions understand the documentation gap better than smaller local banks.

To open an account, you will typically need your passport, your valid visa or temporary residence card, and proof of address (often a rental contract or a temporary residence registration letter from the police). Some banks may require a minimum initial deposit, which varies but is often manageable. Once opened, you will get a debit card linked to a VND account. Remember, the currency is the dong (VND), and while inflation is around 3.3%, the exchange rate fluctuates. As of recent data, one US dollar buys roughly ₫24,165. When you transfer money in, check if your home bank offers competitive FX rates, as traditional wire transfers can eat into your funds quickly.

Getting a Local SIM Card and Staying Connected

Before you even step out of the airport, you should have a plan for connectivity. Relying on Wi-Fi is risky and slow. A local SIM card gives you access to Zalo, the messaging app that runs Vietnam, and allows you to use Grab for transport and food delivery. There are two main options: MVNOs like Viettel Post or MobiFone’s prepaid services, or major carriers like Viettel, Vinaphone, and Mobifone.

I recommend getting a Viettel SIM. They have the best coverage, even in remote areas if you travel. You can buy a starter package at the airport upon arrival or at any authorized dealer in the city. You will need your passport to register it; by law, all SIM cards must be registered to a real identity. The process takes about ten minutes. Ensure you choose a package that includes data, as voice calls are cheap, but internet is what you will actually use.

With your SIM active, you can download apps that will define your daily life. Grab is the Uber of Southeast Asia. Gojek is another option. For banking, most Vietnamese banks now offer excellent mobile apps that allow instant transfers via QR codes, a feature highlighted during recent digital payment festivals. Being connected means you can navigate the city without getting lost and pay for that cup of cà phê trứng at Café Giảng without fumbling for cash.

Daily Costs and Practical Living Tips

One of the joys of living in Hanoi is the cost of living, particularly when it comes to food. Street food is not just a cultural experience; it is an economic advantage. A bowl of phở bò at a local shop costs between ₫40,000 and ₫55,000 (about $2.0). A banh mi sandwich from a street cart is roughly ₫20,000–₫30,000 ($1.0). Even a serving of bún chả, that iconic grilled pork dish, is around ₫45,000–₫70,000 ($2.4). Eating well here is affordable, but you must eat where the locals eat. Avoid the tourist traps in the immediate vicinity of Ho Chi Minh’s Mausoleum or the northern lake edge if you want value.

Housing is your larger expense. A modest one-bedroom flat in the city centre rents for around ₫10,600,000 per month (approximately $440). Prices climb if you look for serviced apartments or modern complexes with pools and gyms, but for a basic setup, this range gets you a decent space. Utilities are extra and depend on usage, but electricity and water are reasonably priced.

Transportation is another area where you save money. A single local transit fare on a city bus is about ₫9,500 (roughly $0.4). If you commute daily, a monthly pass is around ₫203,000 ($8). However, most expats opt for motorbike taxis (xemay) or Grab bikes for short trips, which are incredibly cheap and fast. Be aware that Metro Line 3 is still under construction and terminates at Cau Giay, not reaching the Old Quarter until at least 2027, so buses and bikes remain king for now.

Finally, take time to explore beyond the administrative tasks. Visit the Vietnam Museum of Ethnology to understand the diverse cultures of the region, or see the echoes of folklore at the Temple of Literature. Use your new bank card to pay for a mid-range dinner for two at a place like Hoang’s Restaurant or Hanoi Corner Restaurant, which might cost around ₫600,000 ($25). These experiences ground you in the reality of your new home.

Moving to Vietnam is a leap of faith, but it is supported by a infrastructure that is becoming increasingly expat-friendly. Get your visa straight, open your Shinhan or Woori account, grab that Viettel SIM, and then let the hoa sữa scent guide you to your next adventure. The city is waiting, and it is cheaper and warmer than you think.

Frequently asked questions

Can I open a bank account in Vietnam as a foreigner?

Yes, international banks like Shinhan Bank and Woori Bank in Hanoi are expat-friendly. You typically need your passport, valid visa/TRC, and proof of address.

How much does a meal cost in Hanoi?

Street food is very affordable. A bowl of phở bò costs around ₫40,000–₫55,000 ($2.0), and a banh mi is roughly ₫20,000–₫30,000 ($1.0).

Do I need to register my address with the police?

Yes, if you stay longer than 30 days, you must register your temporary residence with the local ward police station within 30 days of arrival.

Which SIM card provider is best for foreigners?

Viettel is recommended for its widespread coverage. You must register the SIM with your passport at purchase, either at the airport or local dealers.

What is the current exchange rate for USD to VND?

Rates fluctuate, but recently one US dollar has bought approximately ₫24,165. Always check live rates before large transfers.

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