½ûÂþÌìÌÃ

Menu
½ûÂþÌìÌÃ

Retirement in Vietnam

Post new topic

jlaborda

I am almost 50 and have been thinking of moving to Vietnam to teach in an international school.  I have been coming there on holiday for about 5 years now for several weeks on each trip.  If I make the move there I would like the option of being able to spend the rest of my working career and retirement there.  If I come on a work visa, when I do retire is there currently any legal way that I can stay in country (excluding marriage as an option)?

See also

Living in Ho Chi Minh City: the expat guideAny events in Ho Chi Minh City?Hey HCMC Expats ! I'm looking for tennis partners in Thao Dien .Vietnam ImportsCan you connect me to a small, quality sewing factory in Vietnam?
cang_nduc

yeah, for sure, there will be ways for u to stay forever :).......
If u have a degree of teaching, u should apply to Acet Center, which pay u a really high salary.

Wild_1

Jlaborda,

Unless some major changes had taken place in the time that I was gone, no.  There are creative ways, but you will need the help of a Vietnamese national, who will not blackmail you, which tend to make marriage more attractive.  But hey, you are still a young pup.  A lot can happen between now and the day you hang things up...

jlaborda

Thanks guys, that's good news!

Jaitch

There is no linkage between 'retirement' and residing in VietNam for which you need a Residency Permit.

However, in order to work legally you require an additional Work Permit.

However, as a potential retiree you need to put some plans in place.

Working banking account: You need a InterNet Banking account which has minimal charges for using an ATM. You don't want to keep too much money in VN as the monetary policy  really is a hassle with foreign denominated currency.

In the case of divorce the VNese law provides for 50-50 assets split. Keeping your money in another country protects your assets.

Intermediate Bank: It is often useful to have a savings account, in a separate account, into which your government/pension payments are made. Handy for settling accounts in the US. Should have InterNet access.

This account should have on-line transfer facilities to the Working Account. This greatly reduces opportunity for fraud.

Accommodation Address: It is always handy to have an 'accommodation address', other than a Box, through to receive mail, etc.

US Pensions: The US pension should be deposited in to the Intermediate account from which you transfer to your working account.

The US likes to know you are alive. If you tell them (even through tax filings) they will make you report to the Embassy/Consulate every month. It can be really inconvenient to have to travel each month if you live in the countryside.

Assignments/Will: The VN government will inform the government that issued the passport on which you entered VN when you die. The only time they don't advise another government is if you have VN citizenship (as well).

When a government knows you are dead they usually make sure any payments cease.

If you have people you wish to leave assets to in the US things ar easy. However, should you wish to give someone in VN your assts needs planning.

In my case I have the recipient of the assets and a very trusted friend, and they don't know each other. The recipient has all my account information, the other my passwords.

If you develope a relationship with a VNese person, you must retain control of your assets. This means putting your name on the Land User Certificate (cannot be pledged or transferred without your consent), likewise with real property - except you can be shown as an owner.

Why, you ask? Control. You retain control of your assets. Even if you have a VNse wife, retain control. There are many stories of VNese being kidnapped or blackmailed so their (rich) Foreign family member can pay the money. If you don't male provision for your being a signing party on any transaction you might find you suddenly have no assets.

Note: Once the US Government knows you have died, the information is published and, usually, all your bank/investment accounts are frozen.
Check your PM.

Anatta

Unlike Thailand and Malaysia, Vietnam does not have a long term retirement visa policy yet.
Here one for Thailand


If not working, you need to be an investor (sitting on the board or management of a company) or the chief representative of a foreign company to have temporary residency in Vietnam.
There are other cases, but I don't think they apply to you.

Search this forum, I have answered this question many times.

jlaborda

Thank you Jaitch, your response is comprehensive and thorough.  I appreciate you taking the time to respond.

jlaborda

Thank you Anatta.  I will do some homework and look to review the former posts you referenced.  Also thank you for the link.

Articles to help you in your expat project in Ho Chi Minh City

All of Ho Chi Minh City's guide articles