Purchase apartment in Vietnam remotely

 17.05.2020

Purchase apartment in Vietnam remotely:

Real estate in Vietnam

a. Sign the Contract with our Company to represent your interests. The contract is in electronic form, with the necessary conditions for legality.

b. You should send us, by post, notarized copies of your passport and a signed contract with our company. We don’t take risks and responsibility for performing the purchase contract without notarization.

c. Make an objective assessment of your financial capabilities. When you're going to buy an apartment in a compound under construction, you can rely on step-by-step payments. You can follow the payment schedule, which is approved by the developer (in each project in different ways), or immediately make a full payment. On the one hand, payment installments are convenient, because even if you currently do not have enough money to buy an apartment, once you pay the first installment (which is usually 10-30% depending on the stage of development), you then have about 12-15 months for the remaining payment. On the other hand, full payment guarantees that the price will remain the same throughout the purchase.

d. Carefully study the proposals: location of the project, what’s included in the price, and how many apartments at the date of your request remain in this project for purchase by foreigners.

e. Our company signs the purchase contract with a notary on your behalf and sends you the originals, by post, to your home address. We check the legality of the documents submitted by the seller, and pay the first cash contribution on your behalf to the seller's account. If for any reason you can not make a direct payment to the seller's account, we also transfer your payments to them on your behalf.

f. We pay all necessary purchase taxes on your behalf:

  • Personal Income tax  - 2% - if you buy an apartment for 50,000 USD - the tax will be 50,000 * 2% = 1000 USD (actually, this tax is paid by the seller, but it may be that the Seller will pass this duty on you.)
  • Registration fee - 0.5% of the price of the apartment, if you buy an apartment for 50.000 USD - the registration fee will be 50.000 * 0.5% = 250 USD
  • One-time fee for major maintenance - 2% if you buy an apartment for 50.000 USD - a one-time fee will be 50.000 * 2% = 1000 USD
  • Notarization fee is no more than 150 USD (about 0.09% of the value of the Contract)

Overall, if you buy an Apartment for 50.000 USD, the cost of the transaction ownership at best will be 2.59% or 1300 USD. If you pay income tax, it will be 4.49% or 2300 USD.

Leadership TSC provides services of property search and support of transactions, contact us now.


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