Export cash inheritance from Vietnam to Europe

Member since 28 August 2011

KurterinoSerial expat15 May 2024 12:03:41

470

Here’s the situation: the father of a couple of friends (brother and sister, European nationality, living in Europe) spent his last 20 years in Vietnam, where he got married, had a child, and later passed away. That was about 10 years ago. Obviously his older children in Europe never saw a penny, even though he was somewhat wealthy (probably a few hundred thousand dollars net worth).

Recently I’ve met my cousins (in Europe), and they are telling me that they have bank documents about an account in Vietnam, and apparently his wife (widow) couldn’t access this account (everything else was officially owned by her anyway), so now they hope they’ll be able to inherit the money in this account.

How realistic is this? I see the following problems: Even if they present all the necessary documents (like the death certificate of their father, papers proving that he was their father), is there a chance that a bank will grant them access to this account? Especially given that there are other potential heirs? Btw how do you prove that there are no other rightful heirs, if there’s no will?

But let’s say that they find a good lawyer and somehow manage to retrieve that money, it will certainly be Vietnamese Dong, right? Or could he have had an account in a foreign currency, eg is that even possible in VN?

But just to think it through, let’s say that it’s Euros or US$ (or they find a good way to convert the Dong into that), how would they go about bringing that money home? Can you carry 10’000 US$ (or equivalent) over the border, as in most countries? And could you do this trip a number of times, and would that be legal? Or what other legal way is there to export your money?

Thanks for any insight. I was trying to talk them out of it, because im afraid they’ll just lose money to a lawyer and he won’t be of any use. But if there’s a way, I’ll gladly help them

See also

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OceanBeach92107 VIP Member

Member since 31 January 2018

OceanBeach92107VIP Member15 May 2024 13:30:18

7541

...let’s say that they find a good lawyer

-@Kurterino

They should definitely start there

Kurterino Serial expat

Member since 28 August 2011

KurterinoSerial expat15 May 2024 16:53:02

470

...let’s say that they find a good lawyer -@KurterinoThey should definitely start there -@OceanBeach92107

I have spent enough time in Vietnam to know thssat this is a serious hurdle. However just recently a VN friend of mine has started working with one that she likes, so maybe i could refer them to him. But my question stands: is it even be possible to bring the cash home to Europe? If so, how and at what cost?

ajairon Contributor

Member since 01 June 2022

ajaironContributor16 May 2024 18:56:23

192

@Kurterino wait a minute... the father passed away about 10 years ago and recently today new hiers want to claim a inheritance?? At he Vietnamese law, the prescriptive period is 30 years regarding immovable property and 10 years regarding movables (or money). After that everything belong the administrator or the State.

Any immovable to claim? Non-Vietnamese-citizens cannot possess any land or house, even if they are married to a vietnamese citizen, because it breaks the Marital property. But they can be owners or co-owners of vertical properties (suites, apartments, offices, etc)

The suing must be fully submitted before the prescriptive period. That means all the birth certificates and any other proof must be already notarized and stamped by the Embassy of Vietnam in the European Country and translated into Vietnamese.

Some Embassies use to have a Legal Assistance Service Dpt. for citizens abroad and being a little more lucky maybe also they could support you with a deprecatory to the Courts in Vietnam while you're still in Europe.

Anyway, regarding your question to carry money, yes you can carry US$ 1 million in you pockets if you want, just declare it and pay the taxes.

Kurterino Serial expat

Member since 28 August 2011

KurterinoSerial expat17 May 2024 02:05:50

470

@Kurterino wait a minute... the father passed away about 10 years ago and recently today new hiers want to claim a inheritance?? At he Vietnamese law, the prescriptive period is 30 years regarding immovable property and 10 years regarding movables (or money). After that everything belong the administrator or the State.
Any immovable to claim? Non-Vietnamese-citizens cannot possess any land or house, even if they are married to a vietnamese citizen, because it breaks the Marital property. But they can be owners or co-owners of vertical properties (suites, apartments, offices, etc)

The suing must be fully submitted before the prescriptive period. That means all the birth certificates and any other proof must be already notarized and stamped by the Embassy of Vietnam in the European Country and translated into Vietnamese.

Some Embassies use to have a Legal Assistance Service Dpt. for citizens abroad and being a little more lucky maybe also they could support you with a deprecatory to the Courts in Vietnam while you're still in Europe.

Anyway, regarding your question to carry money, yes you can carry US$ 1 million in you pockets if you want, just declare it and pay the taxes.

-@ajairon

That’s extremely helpful, thank you very much!

Kurterino Serial expat

Member since 28 August 2011

KurterinoSerial expat17 May 2024 16:27:04

470

@Kurterino wait a minute... the father passed away about 10 years ago and recently today new hiers want to claim a inheritance?? At he Vietnamese law, the prescriptive period is 30 years regarding immovable property and 10 years regarding movables (or money).

-@ajairo

Can I ask you where you got this information about the ‘10 yr rule’? im asking because someone told me that this cant be true, so now im confused…