Buying a condo in Vietnam-what to look out for, what could go wrong?

My recently deceased wife, Bac and I had 48 years of a very happy marriage. Bac and I have spent decades in America buying and selling real-estate and have also bought 3 properties and sold 1 property here in Vietnam at a significant profit many years later.

I am about to sell a condo in TP HCM. I will be taking a rather large loss on the condo as it was purchased to be a 7 minute wheel-chair push from the world class hospital where my wife was being treated for the several years at a fairly high intensity. Result, my wife lived a couple of years longer than anyone expected. Is that worth the real estate loss? YES!

My main issue with investments in Vietnam is the legal difficulties of repatriating your money out of Vietnam. So, my Army retirement money and SSI go to an American bank and I draw money as needed that is transferred to my bank here in Vietnam You win some. You lose some. Then comes death. Don't sweat the small stuff.  70 years old was 5 years ago. But the young name can stay.

nick4946 :

Ha Ha Ha

Brillant reply.
Its obvious you are getting bad information.

SCB deposit rates.

70 years old :

My recently deceased wife, Bac and I had 48 years of a very happy marriage. Bac and I have spent decades in America buying and selling real-estate and have also bought 3 properties and sold 1 property here in Vietnam at a significant profit many years later.

I am about to sell a condo in TP HCM. I will be taking a rather large loss on the condo as it was purchased to be a 7 minute wheel-chair push from the world class hospital where my wife was being treated for the several years at a fairly high intensity. Result, my wife lived a couple of years longer than anyone expected. Is that worth the real estate loss? YES!

My main issue with investments in Vietnam is the legal difficulties of repatriating your money out of Vietnam. So, my Army retirement money and SSI go to an American bank and I draw money as needed that is transferred to my bank here in Vietnam You win some. You lose some. Then comes death. Don't sweat the small stuff.  70 years old was 5 years ago. But the young name can stay.

Will you be staying in Vietnam?

Didn't you own your place in Nha Trang?

colinoscapee :
nick4946 :

Ha Ha Ha

Brillant reply.
Its obvious you are getting bad information.

SCB deposit rates.

I had already discounted his "advice" when he said you needed a two year residence card for the deposit so obviously he doesn't know what he was talking about.

colinoscapee :

Its obvious you are getting bad information.

SCB deposit rates.

Perhaps you should double post this in the thread entitled Banking Regulations for Foreigners Opening New Accounts.  Maybe the OP of that thread will acknowledge that not all banks are requiring a 12 month visa.

THIGV :
colinoscapee :

Its obvious you are getting bad information.

SCB deposit rates.

Perhaps you should double post this in the thread entitled Banking Regulations for Foreigners Opening New Accounts.  Maybe the OP of that thread will acknowledge that not all banks are requiring a 12 month visa.

Or, perhaps, SCB's website hasn't been updated?

The thread you reference is about REGULATIONS.

I freely admit that all types of regulations are being violated daily in Vietnam.

OceanBeach92107 :

Or, perhaps, SCB's website hasn't been updated?

The thread you reference is about REGULATIONS.

I freely admit that all types of regulations are being violated daily in Vietnam.

Your initial post was dated 16 Aug 19.  Do you think that nobody at the bank would have thought to update the website for 80 days, and do you really think that a significant bank like SCB could openly flaunt regulations for that long?  If so, then the regulations really do not matter.  Just go ahead and open that 6 month deposit account at 7.10%

There is a hotline.  Why don't you call them?

THIGV :
OceanBeach92107 :

Or, perhaps, SCB's website hasn't been updated?

The thread you reference is about REGULATIONS.

I freely admit that all types of regulations are being violated daily in Vietnam.

Your initial post was dated 16 Aug 19.  Do you think that nobody at the bank would have thought to update the website for 80 days, and do you really think that a significant bank like SCB could openly flaunt regulations for that long?  If so, then the regulations really do not matter.  Just go ahead and open that 6 month deposit account at 7.10%

There is a hotline.  Why don't you call them?

I don't need to call anyone.

The links to the regulations are unchanged.

How about ONE person post details of a new account opened since 16 Aug 2019?

That hasn't happened yet.

OceanBeach92107 :

The links to the regulations are unchanged.

I have moved my reply to the thread on Banking Regulations for Foreigners Opening New Accounts.

THIGV :
colinoscapee :

Its obvious you are getting bad information.

SCB deposit rates.

Perhaps you should double post this in the thread entitled Banking Regulations for Foreigners Opening New Accounts.  Maybe the OP of that thread will acknowledge that not all banks are requiring a 12 month visa.

So did you see all of my new posts in that thread, or were you just trolling?

Term Deposit accounts are not stand-alone accounts.

In order to open a 6 month Term Deposit account, you must first have a standard account at a bank.

Standard accounts still require documentation of at least 12 months of approved presence in Vietnam.

Also, all Term Deposit accounts are domestic accounts and require source of funds verification.

Anyone truly interested can read all of the posts in THIS THREAD

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