Question: I would like to know more on how to open a company also to purchase an apartment in Vietnam after a new legislation passed in 2015 that permits foreigners to buy on lease agreement.
In the process of this I presume that I need an account in Vietnam for buy/sell currencies.
Tell me if you know anything – can you provide me with information on what I need to show as documentation in order to buy real estate and opening account in Vietnam as a non-resident (tourist) —– and about the company formation with the purpose to sell and buy foreign currencies for VND, GOLD.
Answer: I am lawyer of SBLAW. I was entrusted to provide you legal advice regarding to setting up company and purchasing apartment in Vietnam. Please see my answers as follows:
– For purchasing house: You only need visa allowing you to enter into Vietnam. You shall directly purchase apartment from Investor who developed the real estate project. You can contact with any Real Estate Agency in Vietnam for connecting you with potential apartment.
– For opening bank account: Due to that you are non-resident, the Bank in Vietnam only accept to open bank account for you during your validity term of visa. If you just need to open bank account for purchasing apartment, you should consult your real estate agency first. They shall advise you how to make payment at your most convenience.
– For forming company for foreign exchange: In Vietnam, only commercial banks or financial company can be licensed for doing foreign exchange services. Then, forming a normal company for foreign exchange services shall not work.
