Purchasing transport in Vietnam.
How to buy a bike, car or jet ski in Vietnam
The first question that arises is who can buy transport in Vietnam? Any individuals and legal entities, including foreigners.
What you need to know and to pay attention for what during purchasing transport in Vietnam
1. When purchasing transport in Vietnam, you need to remember that an agreement with the seller must be concluded with a notary. If you buy a new car or bike at a dealership, then a notary is no need;
2. There must be a receipt for the car or motorbike originally purchased;
3. After purchasing transport in Vietnam, be sure to pay the registration tax for cars and motorbikes.
For cars with a capacity of up to 9 people, the following tax rates apply (based on the cost of the car):
- Hanoi city: 12%;
- Ho Chi Minh City and provinces: 10%;
Cars also charge a license plate registration fee:
- Hanoi and Ho Chi Minh City: 20,000,000 VND;
- provinces and cities directly subordinate to the province or the central government, except Hanoi and Ho Chi Minh City: VND 1,000,000;
- other regions: VND 200,000.
4. There is no annual vehicle tax in Vietnam, however, you pay for registration and annual inspection. If the vehicle is not older than 2 years, then an initial inspection is not required. However, if the car is older than 2 years, but not older than 7, then an initial technical inspection is required and it is issued for 3 years. Then it will need to undergo an inspection every 2 years. If the car is older than 7 years, then a technical inspection must be completed every year;
5. After signing the purchase and sale agreement, you have only 7 days to register. Then the penalties begin. And fines start at $250;
6. To register a bike or car in Vietnam, it must be brought to the traffic police. Registration will not be carried out without physical presence.
Which documents are needed to register a bike and car in your name or in a company
1. If you are buying for yourself, you must have a long-term visa, at least 1 year. In provincial cities like Nha Trang, Da Nang, Vung Tau, you will need a temporary resident card (TRC) for 2 years;
2. If you are buying for a company opened in Vietnam, you don't need to register it as an authorized capital. Although such an option it exists. But you can simply buy transport in Vietnam and register it as company property. In this case, to register the transport with the traffic police, you will need the company's constituent documents.
Good luck in purchasing transport in Vietnam!
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