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Property ownership; business setup?

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pilotincomplete

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.

MarkinNam

very interested to see how you go, looking to do similar, mark

Guest2023

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.

ThoDo

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kevinchau

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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