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Transfer funds from Vietnam

Willo209

Hi
In the process of selling a property in Vietnam- my ex wife says her bank will not let her transfer funds from her bank to mine - how can a vn citizen send money overseas please?

See also

Opening a bank account in VietnamTaking out More Than $5000UK State PensionBank account for US citizen married to a Vietnamese??Joint Bank accounts: VN and Expat. Which bank?
CoderX10

If the title is under her name she is correct. Vietnam controls the transfer of funds abroad of its citizen very tightly. Also, since she can't travel abroad freely, there is no acceptable reason for her to transfer money abroad. If the title was under your name, that would be different story.

Yogi007

Gday Willo & welcome to the forum.

You’ve got an Ex wife and a property In Vietnam ( likely in wife’s name) & I’m assuming you want your share 50% of the divorce sale proceeds (if it sells) sent to Australia.

Your wife said that can’t happen due to the bank “saying so.â€
In the event of the property selling, provided you can prove what you brought into VN and paid , in the normal course of business you should be able to take out of VN up to that amount.  BUT ,,you may already be out of the country back in OZ,,and it’s not YOU initiating the transfer.

Your now relying on her to send you money.🤓a few  problems with that.
Looks like she holds all the cards now.

How’s the rapport with your ex wife. ???    Because that’s what matters most.  If she’s a good person with a reasonable understanding of common courtesy, fairness & decency ....there’s a possibly you might see your money.

Unfortunately,,I’ve known blokes waiting forever to see their cash. 

50% of a property that doesn’t sell for all sorts of reasons is ZERO.   That’s the first hurdle to cross IF or when it sells.   I’ve seen blokes make trips back here for property settlements only for the sale to fall through at the 11th hour.😆

Good luck.

Guest2023

These are the cases for transferring money out by a VN national.

Many Vietnamese also transfer money via brokers at a certain rate.

Vietnamkid

There are services that will transfer the money for a 1-2% fee.  You would be going outside of the legal banking system.  ;-) 

Vietnamese are familiar with this.  ;-)

Guest2023

Vietnamkid wrote:

There are services that will transfer the money for a 1-2% fee.  You would be going outside of the legal banking system.  ;-) 

Vietnamese are familiar with this.  ;-)


Trusting these brokers is the main issue.

THIGV

Vietnamkid wrote:

There are services that will transfer the money for a 1-2% fee.  You would be going outside of the legal banking system.  ;-) 

Vietnamese are familiar with this.  ;-)


My wife has a friend who recently bought a house in Hawaii for a little over $1 million.  When I asked her how, she said that her friend had sold her home in Da Nang for $500 thousand.  I questioned her how she brought out the money, she responded with her sometimes characteristic "never mind" that she uses when she does not want to discuss illegal activity.   I am fairly certain that the woman used the "gold shop" method and am equally certain that it is barely legal if at all.  I am equally certain that no taxes were paid on the property appreciation either in the US or VN.  Sadly, "Everybody does it so it must be OK" seems to be the prevailing ethic in Vietnamese culture.

THIGV

colinoscapee wrote:

Trusting these brokers is the main issue.


Most likely word of mouth would put them out of business pretty quickly if the money was not delivered.  Another thing that people do to protect themselves is break the movements into smaller segments, probably just under $5000 to avoid international money laundering rules.