Question 1

Can foreigners own real estate in Vietnam? none?

Accepted Answer

Foreigners can also own it!!

Question 2

In Vietnam do I need a visa to buy an apartment/house? NO!

Accepted Answer

In the case of foreigners, those who have a passport stamped with the immigration office of Vietnam (there are no restrictions on visa period)
You can purchase an apartment even if you visit without a visa.
* In the case of corporations, foreign investment companies, representative offices and branches, foreign investment funds, and local branches of foreign banks can be owned by foreign/individuals and organizations that have invested in the construction business according to the investment certificate.

Question 3

Can foreigners buy all land or houses?

Accepted Answer

It cannot be purchased.**** The most important thing is unconditionally recommending only new pre-sale projects or unregistered monopoly owned by foreigners!!!
@ Foreigners can own apartments and detached houses implemented by the housing construction project.
We recommend a new condominium project or unregistered resale. It's safe.
***** Buying an unclear apartment can be a big deal! Do not buy anything that is unclear!!!!

Question 4

Are there any restrictions on the number of purchases or period of ownership by foreigners? none?

Accepted Answer

@ There is no double taxation or taxation

Question 5

Permanently owned by Vietnamese? Foreign ownership for 50 years

Accepted Answer

@ You can own up to 99 years in total!!!! You can have it for 99 years and buy another one again!!!

Question 6

Does it matter how much foreigners buy?

Accepted Answer

Therefore, it is said that apartment sales and projects in good areas are increasingly competitive and overheated by foreigners, so they pay a lot of premium fees and buy them.

Question 7

Can a foreigner rent a house for investment purposes after purchasing it? No?

Accepted Answer

You can rent it!
Currently, Vietnam has a long-term price difference between rental income, but the foreigner tax law is not accurate. Foreign rental companies can apply!! However, in the case of a foreign corporation, it can only be used for employee accommodation purposes.

Question 8

How much is Vietnam real estate tax?

Accepted Answer

@@ Tax on acquisition of real estate;
* At the time of pre-sale, it is said that some are included or not!!
@ This registration tax is calculated according to the regulations of the competent authority at the time of registration, but is usually lower than the sale price.
@ The cost of issuing a certified copy of the register and administrative processing costs are incurred less than $80, but please note that this also varies depending on the time of issuance and the regulations of the competent authority.
@Value-added tax (10%)-This part is often included in the sale price at the time of a sale contract, but there are cases where it is not. It is different for each sale for each construction period.
** Tax on sale
*Transfer tax 2%; It is slightly different from the Korean concept of transfer tax. You will pay a transfer tax of 2% of the total transaction amount.
There is no capital gains tax on the difference between transfers as in Korea, so it is very advantageous compared to the Korean real estate tax! ^*^ This is a very good advantage of real estate investment in Vietnam.
* Notarization fee for purchase and sale is less than 600 USD, in case of notarization of purchase and sale, the administrative processing cost of the notary office is about 300,000 KRW (6 million VND).
***Unlike Korea, property tax and tax (comprehensive real estate tax) are not incurred.

Question 9

How do I remit money when acquiring real estate in Vietnam?

Accepted Answer

From Korea to Vietnam / From Vietnam to Korea
You must file a formal report on the acquisition of overseas assets in Korea.
In this regard, if you submit the documents related to the National Tax Service and complete the acquisition notification process accordingly, you can legally report the acquisition funds through the customer's bank and resend the total amount of the sale to Korea even if you sell in the future.
In addition to the local transfer tax (2%), in relation to the tax incurred, you must pay the capital gains tax in accordance with the tax laws applicable to Korea on the difference in capital gains.
**All legal procedures are legally remitted and reported through PICC KOREA Law Firm Cheongo, so you can acquire and sell real estate comfortably and easily without having to worry at all.
@PICC KOREA is legally proceeding through Kookmin Bank's Myeongdong branch through Cheongo!
PICC KOREA that can be safely trusted and entrusted!
For overseas real estate investment, you should select a company that is legal, safe and reliable, and can be rented and sold afterwards.
PICC KOREA is a company with a lot of actual trading experience and various cases that have invested in Vietnam 12 years ago, since 2006.
Above all, we conduct transactions safely and legally through the lawyer of Cheongo, a Korean law firm.

Real Estate Q&A