Foreigners owning property then renting them out as a business

    Hello,
Am looking for some links / recommendations to websites that i can read up on pros/cons of getting into the property market in Vietnam (am in UK), I know very very little as i am at the start of my journey but understand we can not own land but can lease property over a long time, also need to find out if setting up some sort of business to let property is allowed (would like everything to be totally legit)

I have long term ideas to live in Da Nang, I'm a few years away yet so trying to work out is it best to just invest some property here in UK where I know what I'm doing (but wont be on hand to deal with issues) or invest out in Dan Nang where i plan to be living.

If anyone can point me in the direction of some literature/websites for me to read up that would be great , please

thanks

Huw
   

    -@Phunkyhouse

I highly advise that you don't spend too much time focused on this dream until you have first fully investigated visa laws here.

Currently, without any special visa you'll be limited to a 3 month tourist visa which requires leaving the country every 3 months before you can return on a new 3 month visa.

You can in fact purchase a limited number of specific properties (usually condominium units) on a tourist visa, but owning property (a physical building or unit) doesn't give you any special visa status.

You are correct that the underlying land cannot be owned; only leased for a maximum of 50 years (possibly renewable).

You cannot legally generate any income for yourself while in Việt Nam on a tourist visa AND you cannot sponsor a tenant with the local police while you are on a tourist visa, so no one else could live in your unit/building.

It's possible that the property manager of your condo development could rent your property out for you BUT you wouldn't be authorized to receive those funds while on a tourist visa.

Please thoroughly read our sticky thread about visas to enter Vietnam.

Good luck with your future plans.

Thanks for the reply mate, was helpful and informative.

I have been back and forth to Thailand for 20 odd years so not a total novice to the area, done many a visa run in my time and understand the current 90 day situation.

At this early stage everything is pointing towards me just managing properties in the UK for income, I am just testing the water as I said for pro's and con's. Just trying to do some research. I will be moving just got to decide where and how to do it properly, was just so impressed with Da Nang as potential long term home, just felt so much more relaxed and safer than other cities iv been. loved it there .

Again, thanks for the info much appreciated.

    Thanks for the reply mate, was helpful and informative.
I have been back and forth to Thailand for 20 odd years so not a total novice to the area, done many a visa run in my time and understand the current 90 day situation.
At this early stage everything is pointing towards me just managing properties in the UK for income, I am just testing the water as I said for pro's and con's. Just trying to do some research. I will be moving just got to decide where and how to do it properly, was just so impressed with Da Nang as potential long term home, just felt so much more relaxed and safer than other cities iv been. loved it there .
Again, thanks for the info much appreciated.
   

    -@Phunkyhouse

Fall in love with a Vietnamese woman and marry her.

Or, since you appear to be well funded, invest about £92,365 GBP to obtain a 3 year Temporary Resident Card and you won't have a problem owning AND generating income.

£93k GBP ?

i only wish i had that sort of spare cash 😂

id be moving my plans forward a few years ..

    £93k GBP ?
i only wish i had that sort of spare cash 😂
    -@Phunkyhouse

Too bad you can't swing it, however, I'm not really talking about "spare cash" but rather, shifting investments.

We often answer queries for the sake of the casual reader interested in subjects.

It's probably not an uncommon amount available to many middle-class foreigners when considering their total financial portfolio, including real estate, financial market equities and bonds.

It seems that most foreigners are looking for an opportunity to maintain their less risky retirement portfolio in their home nation while taking advantage of the low cost of living and public services & infrastructure & naturally beautiful sights available here in Việt Nam.

In essence, the government of Việt Nam is telling foreigners that if they are willing to shift their investments and increase their risk here in Việt Nam, they can have the reward of Temporary Resident status, with the freedom to come and go at will.

In addition to the relatively inexpensive 3-year option, a 5-year ĐT2 Temporary Resident Card can be had by shifting £1,540,950 GBP/$1,964,250 USD/₫50,000,000,000 VNĐ

A Ten-year Temporary Resident Card is available for those investing at least £3,082,120 GBP/$3,928,810 USD/₫100,000,000,000 VNĐ

Perhaps someone stumbling across this thread will find those to be attractive options.

Good luck, whatever choice you make!

@OceanBeach92107

Following up on your ideas....so investing approx A$180K in a piece of real estate would qualify for a three year temp residence Visa?  Could you then rent out or live in said residence?  Am seriously thinking of buying something to live in after next visa run back to Australia and wondering if I should up the budget a little and get that Visa?.

Also, I've heard a rumour that even as a tourist we can buy an apartment but not a house?   Do you know if this is the case?  Would much rather a house if that is an option.

Working on the girlfriend angle, she's precious, and if she will have me , in time the temp residence will not be an issue 

    @OceanBeach92107
Following up on your ideas....so investing approx A$180K in a piece of real estate would qualify for a three year temp residence Visa?  Could you then rent out or live in said residence?  Am seriously thinking of buying something to live in after next visa run back to Australia and wondering if I should up the budget a little and get that Visa?.

Also, I've heard a rumour that even as a tourist we can buy an apartment but not a house?   Do you know if this is the case?  Would much rather a house if that is an option.

Working on the girlfriend angle, she's precious, and if she will have me , in time the temp residence will not be an issue  -@KKK36

To answer a couple of your questions, no, a rental property nor a house/apartment that you reside in is not enough to be eligible for a business in Vietnam.  While you could derive income for it, the goverment doesn't consider a busines investment as it does nothing to improve Vietnam nor employ Vietnamese.  No, you cannot buy a house with land as a foreigner.  If you are married to a Vietnamese then you can fund that purchase but she will buy it.

There is a set-aside on new apartment complexes being built for a percentage of units that can be sold to foreigners.  Or an existing unit that is owned by a foreigner can sell it to another foreigner.  But, you are purhasing what time is left on the 50 year lease.  You don't get a fresh 50 year lease.  Even Vietnamese that buy land don't actually buy it but they get a 50 year lease.  The only difference is theirs is renewable.  Nobody knows what will happen to foreigner owned property for another 35 years because the oldest is about 12-15 years old.  Also it would be rare for an apartment building to last 50 years so, again, nobody really knows.

Following up on your ideas....so investing approx A$180K in a piece of real estate would qualify for a three year temp residence Visa? 

No (See SteinNebraska's post HERE)

Also, I've heard a rumour that even as a tourist we can buy an apartment but not a house?   Do you know if this is the case?

Not a rumor. Fact.

Working on the girlfriend angle, she's precious, and if she will have me , in time the temp residence will not be an issue  -@KKK36

Good luck with that...