Buy property under the name of a Vietnamese citizen?

Would really like to understand how you go about doing it.

tunnelrat69 wrote:

Okay guys and gals,  I have been investing in Vietnam since 2000 and now "Own"  almost 4 sq kilometers of Rice Fields in the Mekong Delta  -  when i say "Own" my lady owns the property, I "own" 50% of the property but it is in the name of the Catholic Church in my name.  This was done in 2002 when we started getting serious about buying property on a grand scale, notably to protect me, but also to stop greedy family members on her side from taking it away from me if she dies, the Church owns 50% of the land, it cannot be sold unless I relinquish my rights to 'administer the land'  But alas, that was the Foreigner side of the brain thinking for me when we did it, I didn't trust her family - spent many years in Thailand and see what Thai families do when someone dies, its Gruesome.........they are like vultures when a $$ comes into play  -  I know now, I  will have ZERO  problems with this family if my lady dies before me..................we have donated a large piece as a graveyard for poor people who can't afford a burial plot................forget the Police, in Southern Vietnam get in bed with the Church, you can never go wrong.

Would really like to understand how you go about working with the Catholic Church to assist you.

Hey Oic,

It depends on what you mean by property. In Viet Nam property is defined as the structures on land such as a house or apartment. Land is the other term in the equation.

As a foreigner, you can buy property ie. an apartment in most large cities and provinces,  but not everywhere. For example, I couldn't buy an apartment in Quy Nhon, Binh Dinh province because of the heavy burden of paperwork for the seller to dissuade from the influence of Chinese buyers. In other words, discrimination is alive and well...  However, if you can find an apartment to buy you get a 50 year renewable lease.

Land, on the other hand, is a bit more complicated. You'll need a Vietnamese partner since their name will be on the Red Book, which is basically the land title. A foreigner's name cannot be in the Red Book. Since you have no standing in the event of dispute a comprehensive legal contract is the single most important piece of paper in the transaction. Don't go cheap on this if you are going to make a substantial investment in land and property. Find a good lawyer that can do the contract in English and Vietnamese and that can provide the Red Stamp, which gives you legal coverage in Vietnamese courts.

I hope this helps.

I would be holding your cash for the time being.    The situation in China & Hong Kong  could implode with drastic implications for currency & property prices within the region.

Another Asian financial crises is on the cards given the amount of money that China is printing.  It’s reported They print Three TRILLION USD$ of yuan every year for the last 10 years....that’s 8 BILLION $ worth a DAY. 

How do you think those high rise slums in Hong Kong are priced @ US$25,000 a sqm for a 40sqm dump.?    The rich been getting their money out of China into HongKong property , as well as Canada & Australia since rule of law actually works in those places.

But that’s all stopped now.  China is curbing the flight of capital.

The Vietnam situation is similar.  Most of the high prices for property is being paid with in most cases , I’ll gotten gains.    SOEs are being stripped of cash & corrupt money is flowing into property.

It’s all hyper inflation fuelled by funny money.

Google a guy called Kyle Bass.   Smart guy , and see his comments on the China currency crises.  Apart from him , a lot of finance analysts are predicting a crash in Asian currencies & property...sooner rather than later.

It’s happened before.    In the mid 1990s the Yen crashed and Thai Baht  lost 75% of value.

It’s a similar set of circumstances this time around , only the numbers are worse.

If the yuan tanks, the VND will follow.   

Food for thought before sinking your cash into something.    And remember , you in most cases are spending your OWN money.   The Asian investors are funding a lot of this with shady loans from shadow banking arrangements & funny money.   

If it all goes belly up.....they just shrug their shoulders, give a hand waggle & walk away leaving the lenders hanging.   Unless you can do business like that,  it’s your head on the block.

Good luck

Ontheroad57 wrote:

I would be holding your cash for the time being.    The situation in China & Hong Kong  could implode with drastic implications for currency & property prices within the region.

Another Asian financial crises is on the cards given the amount of money that China is printing.  It’s reported They print Three TRILLION USD$ of yuan every year for the last 10 years....that’s 8 BILLION $ worth a DAY. 

How do you think those high rise slums in Hong Kong are priced @ US$25,000 a sqm for a 40sqm dump.?    The rich been getting their money out of China into HongKong property , as well as Canada & Australia since rule of law actually works in those places.

But that’s all stopped now.  China is curbing the flight of capital.

The Vietnam situation is similar.  Most of the high prices for property is being paid with in most cases , I’ll gotten gains.    SOEs are being stripped of cash & corrupt money is flowing into property.

It’s all hyper inflation fuelled by funny money.

Google a guy called Kyle Bass.   Smart guy , and see his comments on the China currency crises.  Apart from him , a lot of finance analysts are predicting a crash in Asian currencies & property...sooner rather than later.

It’s happened before.    In the mid 1990s the Yen crashed and Thai Baht  lost 75% of value.

It’s a similar set of circumstances this time around , only the numbers are worse.

If the yuan tanks, the VND will follow.   

Food for thought before sinking your cash into something.    And remember , you in most cases are spending your OWN money.   The Asian investors are funding a lot of this with shady loans from shadow banking arrangements & funny money.   

If it all goes belly up.....they just shrug their shoulders, give a hand waggle & walk away leaving the lenders hanging.   Unless you can do business like that,  it’s your head on the block.

Good luck

China?

https://www.gfmag.com/global-data/econo … -the-world

http://worldpopulationreview.com/countr … onal-debt/

Scary figures ,
They say when you owe that much.....the creditor is the guy doing the worrying.
It’s always amused me how the Wall st & London “old money” crews seem to survive given the levels of foreign debt they have.

They seem to know the right people. 😆

If the property can revert back to you why would you have it in someone name in the first place.
That’s just ridiculous

Gerrycarter wrote:

If the property can revert back to you why would you have it in someone name in the first place.
That’s just ridiculous

Because its less hassle to put in a VN name, and land cant be owned by foreigners as indivduals.

So if it has the legal ability to revert back to you why involve the risk of adding another person in the first place

Gerrycarter wrote:

So if it has the legal ability to revert back to you why involve the risk of adding another person in the first place

Have you read or know about how property ownership here works. Its nothing like Australia.

colinoscapee wrote:

Gerrycarter wrote:

So if it has the legal ability to revert back to you why involve the risk of adding another person in the first place

Have you read or know about how property ownership here works. Its nothing like Australia.

There should be an article relates to this topic on this page which can easy to click & access. Otherwise, everyone came and asked the same things again and again.