Category: Vietnam

Sending Money To & Out of Vietnam: A Foreign Investor’s Guide

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Buying overseas property in developing countries like Vietnam requires due diligence and that you understand the buy and sell procedures in advance.

A commonly asked question is how foreigners can transfer money into and out of Vietnam when buying real estate. This is essential to understand to make sure that your money don’t get ‘stuck’.

After all, you probably want to exit the market sometime in the future.

In this article, I explain some key information you need to know when transferring money cross border in Vietnam.

Remark

This article is written for investors who wish to buy real estate in Vietnam.

General information about Vietnam currency controls

Vietnam’s foreign exchange controls are regulated by the State Bank of Vietnam.

Some of their responsibilities are:

Continue reading Sending Money To & Out of Vietnam: A Foreign Investor’s Guide

Top Conveyancing Lawyers in Vietnam: The Ultimate Guide

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Vietnam is one of the hottest property markets at the moment and everything from individual buyers, to corporations and fund managers, want to invest here. But one should be careful and do thorough due diligence before taking any hasty decisions.

A preferred choice should be to hire a local conveyancing lawyer, before getting involved in deals with big transactions. The fact is that things aren’t as transparent and straightforward as you might be used to in developed countries.

Therefore I’ve written this article where I present some of the biggest and most popular conveyancing law firms in Vietnam.

1. Baker & McKenzie Vietnam

Baker & McKenzie is a leading multinational law firm worldwide. It was founded in 1949 in the United States, with its head office situated in Chicago. In terms of revenue, it is ranked as the second biggest law firm in the world, with annual revenue of USD 2.67 billion.

The company has 77 offices, more than 4,600 attorneys, and around 13,000 employees in globally (including 47 countries). They’ve had a presence in Vietnam for two decades and have two offices, one in Hanoi and one in Ho Chi Minh City.

There are around 45 persons working for the offices and several partners are foreigners, like Frederick R. Burke, an American national who is also a member of the Prime Minister’s Advisory Council for Administrative Reform in Vietnam.

Continue reading Top Conveyancing Lawyers in Vietnam: The Ultimate Guide

Top Real Estate Agencies in Da Nang: The Ultimate Guide

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Da Nang is the fourth biggest city in Vietnam, it becomes increasingly popular among foreigners due to various reasons. Some worth mentioning are that Da Nang is generally more developed, it’s cleaner, calmer, has mountains, beaches and simply more attractive if you look for a calmer lifestyle, but still access to diners and bars.

The number of real estate agencies is less and the major companies like Savills, Colliers, and CBRE have all set up head offices in the capital, Saigon. Still, you’ll find a handful of real estate agents that have years of experience of helping foreigners.

In this article, I list some of the biggest and most popular real estate agencies in Da Nang.

Introductory remark

The real estate agencies are listed in a random order.

1. Savills

Savills is one of the biggest and oldest real estate agencies globally. Originally founded in 1855 and with 30,000 professionals worldwide, the company has managed to establish a strong presence in Vietnam. Their first Vietnam office was opened in 1995 in Ho Chi Minh City.

Savills is also one of the few international agencies that has set up a separate office in Da Nang. The current managing director of Savill’s Da Nang branch is Matthew Powell, he has been residing in Vietnam since 1995 and has a long experience of the local real estate industry.

The company has won a number of awards over the years, for example:

a. Asia Pacific Property Awards – Best Property Consultancy in Vietnam (2015-2018)

b. Asia Pacific Property Awards – Best Real Estate Agency in Vietnam (2014 – 2016)

Property types

Continue reading Top Real Estate Agencies in Da Nang: The Ultimate Guide

Top Real Estate Agencies in Ho Chi Minh City: A Complete Guide

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Ho Chi Minh is currently the second fastest-growing city in the world (after Bangalore) and attracts more and more foreign investors. In comparison to Bangalore, foreigners are at least allowed to own properties in Ho Chi Minh City.

The city is a melting pot, still, the real estate market is not as mature as Thailand’s, for example, which has resulted in a more narrow selection of agencies. It’s not strange whatsoever, as the country opened up to foreigners in 2015. In this article, I list some of the biggest real estate agencies in Ho Chi Minh City.

Introductory remark

The real estate agencies are listed in random order.

1. Colliers International Vietnam

Founded in 1898 and with 15,000 professionals working worldwide, Colliers is one of the biggest and most recognized real estate agencies globally. The headquarter of Colliers International Vietnam is based in Saigon, you’ll also find most properties up for listing here.

The company currently has two subsidiaries in Vietnam:

  • Colliers International Vietnam
  • Colliers Home

Colliers International Vietnam was founded in 1996 and Colliers Home a decade later, in 2016. The branch currently has six employees residing in Ho Chi Minh City.

Property types and areas in Vietnam

As mentioned above, Colliers has a separate website called Colliers Homes, if you look for residential properties, this is the place to be. You can find a number of property types, for example, villas, apartments, land, and penthouses.

Projects managed

Continue reading Top Real Estate Agencies in Ho Chi Minh City: A Complete Guide

Top 10 Property Developers in Vietnam: A Complete Guide

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Vietnam captures many headlines in the media and opened up to foreign investors as late as 2015.

Here, you’re able to buy units from commercial projects on the primary market. This is often not a big issue, in the end of the day, foreigners mostly look for new or off-plan condos in places like Ho Chi Minh and Da Nang.

If you buy off-plan, it’s important that you know about what real estate developers that operate in the market. In this article, I’ve listed some of the biggest and most popular property developers that operate in Vietnam.

1. Dat Xanh Group

Founded in 2003, Dat Xanh Group is headquartered in Ho Chi Minh City, a company that’s been ranked as one of the best developers in Vietnam.

The company owns one of the largest real estate companies in Vietnam, the Dat Xanh Real Estate Service & Consultation JSC. They develop both residential and commercial projects and offer other real estate services, like distribution of properties, brokerage, and real estate consultancy services.

Property types

You can buy a number of different property types, including apartments, housing projects (townhouses), land and villas. In addition to residential projects, Dat Xanh Group also develops commercial, office, and leisure properties.

Continue reading Top 10 Property Developers in Vietnam: A Complete Guide

Why You Should Contact a Solicitor Before Buying Property in Asia

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You’ve signed the contract and transferred the down payment. Your agent insists that all is well, and you can move in next week.

Only to find out that foreigners are not even allowed to buy that type of property.

These things happen, and overseas property buyers find themselves in hot water all the time – often as a result of working with the wrong local partner.

In this article, you will learn why you should not go directly to a local real estate agent when buying property in Vietnam, Cambodia, the Philippines or other developing countries in Asia – but to a law firm that can navigate you through a risky and complex process. Continue reading Why You Should Contact a Solicitor Before Buying Property in Asia

Common Pitfalls when Buying Property in Saigon: By Rudy Bui

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Since Vietnam opened up to foreign property buyers in 2015, investors pour in to grasp a share of the Saigon property market.

But even if Vietnam has relaxed the regulations on foreign ownership, there are important fundamentals you need to be aware of before buying property.

In this article, I interview Rudy Bui, who is the Founder and Director of the law firm Bui & Brothers LLP.

It’s an established firm that works with both Real estate & Construction law and Tax law in Ho Chi Minh City (Saigon).

Rudy, please tell us a bit about your background and current business

I’m a qualified lawyer with more than 10 years of practicing law in foreign and local law firms in Vietnam.

I earned a Master of Law in South Korea, recently admitted as a Scholar of the International Bar Association (IBA) and the Inter-Pacific Bar Association (IPBA).

Continue reading Common Pitfalls when Buying Property in Saigon: By Rudy Bui

Buying Property in Hanoi: A How To Guide

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Suggestion: Watch the 5 minutes video tutorial before reading this article

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Hanoi is the capital of one of the fastest-growing countries in the world and has some of the highest rental yields in Asia at the moment. The city has seen rapid economic growth in the past years and is projected to continue on this path in the coming decade.

Even if Hanoi receives less attention than Ho Chi Minh, some investors simply prefer its local and authentic culture, seasons, and beautiful surrounding nature. Besides, the property market is less overheated than Ho Chi Minh’s and has much to offer in the coming years.

In this article, we review the following topics:

  • Hanoi’s Property Market
  • Best Areas to Buy Property in Hanoi
  • Real Estate Agents in Hanoi

Hanoi’s Property Market

Hanoi is the second-biggest city in Vietnam and receives less attention than the southern commercial hub and metropolis, Ho Chi Minh City. The cities are different in the sense that Hanoi is the cultural and political center of Vietnam. Continue reading Buying Property in Hanoi: A How To Guide