Vietnamese citizens buying a home abroad often find it hard to work out which Vietnamese rules apply and what they must report. This article explains the key issues in practical terms. It covers the Vietnamese side only: the purchase itself is governed by the law of the country where the property is located.
Documents to prepare
On the Vietnamese side, the core documents typically include identity papers, evidence of the lawful source of the funds, documents supporting any outward transfer of money (for example, proof of settlement abroad or of a family relationship) and, where applicable, the documents required by the bank. Documents issued abroad must be translated into Vietnamese with a certified translation. Since 11 September 2026, when the Apostille Convention entered into force for Vietnam, public documents from member states bearing an Apostille no longer need consular legalisation (the Convention does not yet apply with Germany, Austria and the Czech Republic, which objected to Vietnam's accession); documents from other countries must still be consularly legalised unless exempt under a treaty.
It is also wise to keep the purchase contract, title documents and payment records from the foreign transaction, as these may be needed for tax purposes or to prove the origin of assets later.
Common legal risks
The most significant risk concerns the transfer of money. Vietnam applies foreign exchange controls: under Article 9 of State Bank Circular No. 20/2022/TT-NHNN (referring to Article 7.2 of Decree No. 70/2014/ND-CP), resident Vietnamese citizens may only buy, transfer or carry foreign currency abroad for listed purposes — such as study, medical treatment, business travel, tourism, family visits, fees payable abroad, supporting relatives abroad, inheritance or settlement abroad, in amounts justified by documents — and buying property abroad is not, as such, among those purposes. Using unofficial channels exposes the buyer to administrative penalties and, in serious cases, criminal liability. It is therefore essential to consult a lawyer from the outset and to follow changes in the law closely.
Financial risks must also be considered: fees and taxes in both countries, exchange rate movements and the cost of maintaining the property. Underestimating these costs can leave the buyer short of funds midway.
Legal basis and current regulations
Applying these rules to a particular case requires care, as every situation is different. The relevant Vietnamese framework includes the Ordinance on Foreign Exchange, Decree No. 70/2014/ND-CP and State Bank Circular No. 20/2022/TT-NHNN (in force since 15 February 2023) on outward transfers by individuals, the Law on Personal Income Tax (Vietnamese tax residents are taxed on their worldwide income, including rental income or capital gains from property abroad, subject to any applicable double tax treaty), and — for officials and public employees — the asset and income declaration obligations under the Law on Anti-Corruption, which extend to assets held abroad.
Advice from legal practitioners
Define your objective clearly before starting — personal residence, investment, or preparation for settlement abroad — because the permitted channels and reporting obligations differ accordingly. Plan in detail, with specific milestones, to avoid unnecessary delays.
Support from an experienced lawyer is often decisive. A lawyer can help structure the transaction lawfully, coordinate with advisers in the destination country and anticipate tax and reporting issues at each stage.
Quick Q&A
Can I transfer money from Vietnam to buy a house abroad?
Resident individuals may only transfer foreign currency abroad for the purposes permitted by the State Bank (such as study, medical treatment, supporting relatives, inheritance or settlement abroad). Buying property abroad is not itself a listed purpose, so the transaction must be structured carefully with legal advice.
Do I pay Vietnamese tax on rental income from property abroad?
If you are a Vietnamese tax resident, your worldwide income is taxable in Vietnam, including foreign rental income and gains, with credit for foreign tax paid where a double tax treaty or the law allows.
Do I have to declare property owned abroad?
Officials and public employees subject to the Law on Anti-Corruption must declare their assets and income, including assets abroad. Other individuals have no general declaration duty but must meet tax obligations on income from the property.
Note: This article summarises rules in force at the time of publication and is for general reference only; it is not a legal opinion on any specific matter. Legislation may be amended — please check the latest text or consult a lawyer before acting.