Can't trust the laws of the jungle. Pay as you go is the easy way. Buy to lease is a losing position. You can not pass on to your family. You disappear so is your house. Rent is cheaper and no headache. Thanks for sharing.💯👍🇻🇳
Note: The approved properties that foreigners can buy are way over priced and too complicated regarding the term of actual ownership and ability to transfer to other family or other, very complicated and often over priced corruption procedures and opening up a foreign owned company and a vietnamese majority owned company (both i have done) are completely different and super costly for the foreign firm and the viet firm no recourse for the foreigner percentage, the problem is corruption in all levels
Hello Mr. Duong, my wife and I thoroughly enjoyed watching your videos. After watching this video, we have a few questions: 1) as foreigners, are we allow to buy and own condo or townhouse, or stand alone house. But we are not allow to own the land it’s built on? 2) if “yes” to question 1, do we have to pay property tax? 3) if we were to buy and own homes in VN, would we be allow to transfer them to our children? 4) do we need to be citizens or own passport to purchase homes? Thank you Mr. Duong for your replies.
Thanks for watching our video. The answers to your questions are actually in the video. As foreign citizen, you can't own land, you can lease it and own what it is on the land. There is no property tax (as mentioned in the video). You can transfer to your children (watch video). We do not understand your 4th question. Yes, you need to have an ID such as a passport if you are a foreign citizen to buy real estate in Vietnam, just like in any other country.
@@duongglobalbusinessconsulting I think he mean if he need to have Vietnamese citizenship to buy and own property in Vietnam (4th question). But you already answer him that as long you have passport or ID (even if it's foreigner) it's oke.
A foreigner purchased a condo in VN, he can owned a 50 years lease on it, it does not mean he owns the property outright in USA. The longer he owns the Condo, the shorter the lease, Duong didn't mention foreigner price is 20% to 25% premium over the local, I have a friend purchased a condo, the price raised 35% over local price when sold, his profit was negative of 20 grands, why? He bought the VN condo remotely in Singapore with a 25% premium over local price and he didn't know it, after the wood floor repair from rain damage, the commission, the tax, the depreciation of the exchange rate.
Great video Ken! very informative. As a Canadian citizen, my goal is to retire in Vietnam and buy realestate there. First step would be for me to get my vietnamese citizenship.
thanks for making the clip; the information was presented flawlessly; easy to understand; i like the way you organized the info. Very informative. I have share your channel with so many others.
Thanks a lot for the compliment and for your support. It's a great idea to share our videos. We also recommend to subscribe as well so our channel doesn't disappear from your RU-vid suggestions. Thanks again!
Let us know when you come to Saigon, then. Thanks for watching our video. If you would like to keep watching similar content, please make sure to subscribe to our RU-vid channel so that it does not disappear from your youtube recommendations.
Thank you so much. This is the video I have been looking in RU-vid for so long, and tonight, I found it. Very very helpful tips and extremely informative. I am looking for a real estate soon in HCMC, after Covid lifted in Malaysia. Thanks
Hello and Thank you for having this website , It's a great source of information. I'm currently in US and my wife's hometown is CamRanh. We've begun searching for a home to buy. She is a vietnam citizen , therefore , we are making transactions in her name. I've got US citizenship and i presume prices would be different (higher) if my name was on things. Please tell me if this is a correct presumption.? Our choices are Nhe Trang, Saigon or CamRanh. Admittedly, CamRanh is the less appealing since there is no comparable lifestyle to that of Nhe Trang & Saigon. Question: What is the best method for us to communicate with Q&A ?? ( this website or email or other ??? ) I'd love to learn all I can in moving forward.
Beside hcm metro line 1, buying into the initial phase yet to be constructed by a large developer. It’s easier to buy these “off plan” as travel is still in lockdown. Will there be high potential ?
You really did a great presentation everything I wanted to know you told an showed me the correct way an for once I can understand you… but will 2 million dollars do me go there😩
@@tonyquach830 There is a company in Singapore that would be a co-investor with you. They put out 70% and you put out 30%. You retain the usage right. When you sell the property, you split the profit with them. This will reduce your risk. I am currently working with them right now.
Mr. Duong, I have been looking for this type of information, about buying property in VN....can you please give me, information, on how I can contact your office, to get further information...thank you so much for this video
Truly appreciate this video, well played indeed. Is it true that a foreigner married to a Vietnamese citizen is entitled to freehold property lease instead of the 50 years property lease?
If a person is paying cash for one of the fully furnished amenities high rise and renting it out, do you have a general idea of what type of return they may hope to expect (I understand nothing guaranteed) they may get?
This guy in the same video you can only lease land. Which is true. Then goes to telling you can buy land. Almost every highrise condo I have lived in Hanoi and Saigon as been trash. That were thrown up in little time. Almost all of them have rental units. Stay in one and you will see if any problems pop up in the building. One problem that was a constant problem with plumbing. Sewage backup. Broken water mains. Never ever buy an unfinished building. Seen people buy these. It's a condo in Hanoi where they haven't finish the road to it and it's been finished for 3 years. Just a narrow dirt road that's hell in during the rainy season. If you can get a LURC go that way. However it's not that easy.
@ASMR Controller that I know. Getting a lawyer to obtain a LURC while is leasing is still a much better option than any of these condos that go up in months. While still leasing woth a LARC on a 50 year lease you can still retain value and sale it before the lease runs out or in 50 years rules may change.
Hi Duong, great video. I am a viet kieu from Germany and in the process to get my TRC here in Vietnam. Say, my uncle who is a Vietnamese citizen owns land here and wants to transfer it to me. Is there a way to do this without purchasing it?
@@duongglobalbusinessconsulting Hi, Very informative videos. Can we use DocuSign for signing the paperwork like Pink Booklet etc? Or do we have to use FedEx?
Either you pay the same capital gains as the US, as US is a worldwide tax system or you decide to pay based on Vietnam tax laws which is 2% of sales price.
Thank you for the information. I am considering a condo in Danang. However, I am looking at staying for 5 to 6 months. The price is about 2,3 billions dongs. However , currently the visa for tourists is limited at 30 days. By buying will the gouvernement issue a one year or a 5 years investor visa? 18:19
It is easy to purchase an apartment in VN. My question is once you have sold it, how easy to rapatriate the gain back to US? Also, I have heard it is almost impossible for foreigners to get the pink book, is it true? Just the purchase and agreement contract is available.
As a foreigner, you can repatriate the monies back upon sale when you show the purchase agreement, sale agreement, bank transfer into Vietnam and Bạn transfer into your account from buyer, the tax payment slips, and then your bank will transfer the monies out. Since 2017, many foreigners have the pink book and the law has made it much easier and clearer for foreign ownership.
Hello Duong, I love your channel. The videos are informative, concise, detailed, and exceptionally well made. You mentioned a Vietnamese citizen can own property like a true Vietnamese. I was born in Saigon in 1975, and moved to Canada in 1981 and became a Canadian citizen in 1983. Because I was born in Vietnam, can I buy property like a Vietnamese?
@@duongglobalbusinessconsulting if I was born there, to Vietnamese parents, and then become a Canadian citizen, did that mean I had to give up my Vietnamese citizenship?
@@mikeman360 If you have Canadian or US citizenship, you can apply for a Vietnamese citizenship (dual citizenship). I am thinking about that now so I can invest in VN.
Hello, who maintains the list of (foreign/local) ownership in a condo project? Ive seen a condo block I like with many condos for sale. The developer who has an on-site office told me 15% had been sold to foreigners. However, agents are telling me I must buy a condo from a foreigner. Of which there are only a couple and 20% more expensive. So is it possible for me to hire an attorney to buy off a local. It seems it should be possible once I can prove the 30% wont be breached. I'm already over 70, so if I buy off plan I might already be dead before the condo is finished.
Would it be possible buy a studio apartment in vietnam and possibly rent it out in a few years? Also how would someone go about doing so, and how much would it cost, in honi to be specific
Being the timeline now I am severely curious how much property china owns there as well as laos and cambodia that they are willing to sell/transfer to foreign investors.
You own the house only, but you dont own the land. At any time the VC could come and take the land, and you have to move your house, or leave your house.
No small country will allow foreigners to own the land especially the beachfront. Mexico is the same. Otherwise, the Chinese will buy and own everything.
I missed something: I am not allowed to open a bank account in VN, because I only have a tourist visa. I am however allowed to buy property. So I am assuming that, for the payment, I can also transfer directly from abroad into the Vietnamese bank account belonging to the seller, right? Thank you.
@@duongglobalbusinessconsulting Thank you. How can we go about finding suitable lawyers and realtors in Hanoi? My wife is Hanoian; we are in Hanoi a few months each year.
Be aware of the Vietnamese building quality. Not made to last decades. Plus building maintenance, the same low quality. Just be prepared. 10 years in Vietnam is enough to understand
@@duongglobalbusinessconsulting Thanks for your reply ! Do you mean that after a foreign buy an apartment in Vietnam he can ask from the immigration office to stay because he bought an apartment ? they will approve it for sure ? or do they also want to see that he works there or has a family or a wife? Great channel ! thanks for the info ! 👍
Yes, we shot that B-roll in Phu Quoc island. We also have another video called "6 Reasons Why Phu Quoc Island IS the NEXT Phuket | Vietnam Travel & Opportunities", that we shot in Phuc Quoc. Great colors! Check it out!
If you can’t own the land your property is sitting on it is useless I would never buy anything like that even in my country. If Vietnam wants to attract foreign investors, it should be more foreign investor friendly. Better to rent and move to a newer built unit once the building becomes dilapidated from neglect and use
There are two cases you can buy an apartment from a local: Either you have the Vietnamese citizenship or the apartment needs to be under the foreign quota allowance from the district, sub-district and apartment complex and eligible to be purchased by a foreign national.
