Buying a property in Vietnam

Lastly, with regards to buying of a property. I am considering of buying a house or an apartment in Vietnam under the name of my girlfriend. We are planning to get married but maybe in the next year or so and I know that when I buy a house or an apartment, she will be able to obtain the pink or red book and with it, she can register me as a member of the household and I am able to get some kind of residency in Vietnam as well? I am not very sure about that but this is just some of the information that I have heard.

You can't buy land here (no one can) and Foreigners restricted in what they can buy by way of real estate (buildings) and where they can buy such property.

The Pink / Red Books come with the property. You gain rights through your GF/Wife.

BE EXTREMELY CAREFUL when buying a property as it is YOUR money in SOMEONE else's name and you have minimal recourse.

I am married to a VNese woman and, on her insistence, she made sure that the property, or User Certificate, cannot be sold, or pledged as security, without my consent in writing.

When you are 'in love' it is hard to imagine what might happen when/if you change. There have been several cases where Foreigners have lost large amounts/all of their investments and, on divorcing, have had pitifully little to hold them in VN.

Marriage means you can buy, through your wife, anything anywhere.

If you read the following, you will get batter idea:

< https://www.expat.com/forum/viewtopic.php?id=128367 >< https://www.expat.com/forum/viewtopic.php?id=146988 >< https://www.expat.com/forum/viewtopic.php?id=128082 >< https://www.expat.com/forum/viewtopic.php?id=175105 >

NEVER, EVER USE A LAWYER recommended to you buy the VENDOR or a member of your WIFE'S FAMILY!

Dathancna,

The Vietnamese real estate market is not going to go anywhere, anytime soon.  I would wait until I had tied the knot and fairly certain about my Vietnamese spouse before I would subject myself to such risk.  Yes, getting your Vietnamese residency the spousal route is the quickest and cheapest way; however, improperly handled, that can get really pricy, really nasty, really really quick...

That is my take.  You should know your situation much better than me.

Best wishes,
Howie

Amen twice to what the man said above. I personally know stories about people that trusted not only a GF with the money but Viet kieu and there blood relatives that would make you hair not only rise, but fall out. No money no honey.

Thanks Howie and Jaitch,

Thanks so much for the replies. Is there anyway that I can do the same as Jaitch did if I buy the property under the name of my girlfriend? That she cannot sell the property without my approval in writing or something like that.

I would probably need to hire a lawyer in order to do that right? And another thing is that if I am still NOT married to her yet then is there any use in getting the pink/red book to help me to get some residency here?

And then the last part is if you guys know about the 2 year Temporary Residence Card that the agency is able to do for me and how they can process without any work permit or anything? Thanks guys!

Cheers.

Budman1 wrote:

... Viet kieu and there blood relatives that would make you hair not only rise, but fall out. No money no honey.

I guess you are referring to the kidnapped family member and they need the money from the house to buy their release!

Both my mini-hotels have very clear signs saying they are owned and operated by companies.

It's amazing how many relatives get 'kidnapped'.

Even when Getty's son was kidnapped he held out until he got the son's finger in the mail.

Dathancna,

You need no stinking attorney!  What you need is to get to know your GF and her inner circle good.  Then, if she is the right one, marry her.  Your Vietnamese residency will soon follow.

I said nothing about buying any property, because it is not required!  She can put you onto her current Resident Book (Ho Khau), and it will do.  You don't need any color book!

Last but not lease, when it comes to Vietnamese documentation, never go with things that you and your confidants don't know about.  You are a foreigner.  You don't know which document is which and, the last thing that you need is to be in possession of fake documents here.

Wild_1 wrote:

You need no stinking attorney!

IMO, you need a lawyer MORE WHEN DEALING IN LAND/PROPERTY IN VN because there are so many traps, than you do elsewhere. A lawyer will find out about city repurchases, proposed highways and subways.

IN TP HCM they are moving the rail line and station, again, so land around the existing station might not appear good but when they move station, the land value will increase because of less noise and crowds.

You might learn about a land transfer freeze because the owner might try to swindle you, every time I have acquired land I am along there watching what is happening.

And always make sure it is registered before handing the money over.

Wild_1 wrote:

You don't know which document is which and, the last thing that you need is to be in possession of fake documents here.

I didn't know what was what first time around, but I learned really quickly.

Quite honestly, I would treat the GF /wife's family as an adverse party in any transaction as you never, ever know what can happen.

Also, procedures vary in the larger cities from those followed in the provinces.

Note: In any transfer of User Certificate with attached real property there are TWO simultaneous transfers (a) User Certificate; (b) Buildings and improvements. Some places register them together, others treat them as two separate transactions. Both attract taxes.

It is a minefield, even for Vietnamese!