Moving to Vietnam for my semi-retirement

I decided on TRC for ease of stay, banking, drivers licence if I ever get silly enough.

However, with tax matters the type of visa or card is not relevant (even 3 e-visas in a 12 month period makes you a tax resident)

They calculate on world wide income but exclude pensions (which they don't tax).

This is a high profile summary but googling will get you more.

Residents are those individuals meeting one of the following criteria:

Residing in Vietnam for 183 days or more in either the calendar year or the period of 12 consecutive months from the date of arrival.

Having a permanent residence in Vietnam (including a registered residence that is recorded on the permanent/temporary residence card or a rented house in Vietnam with a lease term of 183 days or more in a tax year in case of foreigners) and unable to prove tax residence in another country.

Individuals not meeting the conditions for being tax residents are considered tax non-residents in Vietnam.

Also, any income earned in Viet is taxable regardless of stay duration I believe.

https://taxsummaries.pwc.com/vietnam/in … hgqu1galwQ

@KKK36

Many thanks for the steer on this, much appreciated, I just want to be able to demonstrate residence in Vietnam and not the UK, and this is clear.

Hi everyone, my name is Martin, and recently moved to Vietnam, near Vinh Yen a few weeks ago. My wife and daughter are Vietnamese citizens, so I am here on a Visa Exemption, which was fine for when we lived in the UAE and just visiting periodically, but now we are moving here for my semi-retirement, the TRC route seems the best option, for being able to get an ATM card and also to demonstrate residence somewhere (other than the UK, my home country), which may otherwise compromise (tax liability) some of my investments. Any advice most welcome.Kind regards,Martin - @mmain

Most countries (including the UK) have a tax treaty with Vietnam so that if you are paying taxes in one place you shouldn't have to pay them in the other place.

But I don't hear you saying that you are generating income here in Vietnam.

So unless I'm mistaken you will have a continued tax burden in the UK based on your income stream there from your investments, and then the treaty will absolve you of tax liability here in Vietnam.

I understand that you are saying you don't want to be liable as a resident of the UK, but I'm pretty sure that as long as you are a passport holder in the UK you will not be changing your residence status in the eyes of the UK just by living here on a TEMPORARY Resident Card.

It's true that after living here 183 days you officially become a tax resident here, but I would definitely strongly recommend that you get the input of a trustworthy tax attorney before you make financial commitments based upon your best idea of what is possibly true.

Good luck!

O.B.

@OceanBeach92107

Thanks for your advice, I think I am okay because the investment income is not from the UK and when I complete my annual UK tax return I only need to disclose foreign income when i have been resident in the UK, similar to the 183 days residency test for Vietnam mentioned earlier in this thread, which would allow me to declare Vietnam residency. I don't have any income in Vietnam either. I think the UK tax system is more forgiving than the US regarding foreign income, indeed recent changes allow a tax holiday on returning to UK for several years. Your steer is nonetheless much appreciated

Just a heads up Vietnam taxes you on WORLD WIDE income. I am finding this out the hard way. Doesnt matter where the money comes from, what you did, what bank it went into. Your taxed in Vietnam for that income at Vietnams rates if you spend more than 183 days in Vietnam. Ill admit I am just new to this and am having to scramble to figure out the details but from what I have heard it can really comprimise your stay if you fail to file and you have been basically living in the country. Its really up to the UK to give you an exemption if there is one on your UK taxes.