I was an expat in Vietnam before for a number of years. Now I work and live in China but I regularly visit Vietnam and would like to purchase property in HCMC.
I am well aware that most bars and restaurants in Vietnam are owned by locals who ditched their business partners so this must be done in my name.
A friend of mine already owns one in trust with a local property firm but they want out due to 2nd property taxes etc. I would be willing to share costs with him and set up a WFOE or similar business to own these properties in our name.
We work in aviation and in training/education so could setup an aviation training company to fulfill the requirements of foreign ownership if required.
Has anyone here done this or anything like this?
Any advice or pointers?
I have read the legislation, but I am wondering how people have found it in practice.
Property ownership; business setup?
very interested to see how you go, looking to do similar, mark
You would be best to get in touch with a lawyer,as all you are doing is taking profits from a bar and putting it through a different business. So there is no actual trading done by the new entity, so you have no costs to claim and therefore you will be required to pay company tax.
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I dun think it was a difficult task.
As long as u can provide all required documents and paperwork.
U will have your name on yr property (till today: apply for apartment only)
I used to help a foreigner friend to buy a flat in D7 and settle all the paperwork. Not a big issue.
If u need any help, just pm me, i will guide u in detials
Good luck
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