Is there any limitation/restriction on transferring money from oversea to real estate developer’s bank account to purchase houses in Viet Nam? Is there any fee associated with the transfer?

Question:

Is there any limitation/restriction on transferring money from oversea to real estate developer’s bank account to purchase houses in Viet Nam? Is there any fee associated with the transfer?

Answers:

According to Article 4, 6 and 8 of the Ordinance on foreign exchange No 28/2005/PL-UBTVQH11 dated 13 December 2015 (amended on 18 March 2013); Article 10, 14 and 17 of the Decree No.101/2012/NĐ-CP  dated November 22, 2012 of the Government on non-cash payment; Article 3 and 7 of the Circular No. 16/2014/TT-NHNN dated on 01 August 2014 of the State Bank of Vietnam on guiding the use of foreign currency account, VND account by residents, non-residents at licensed banks, there is no limitation/restriction on transferring money from oversea to real estate developer’s bank account to purchase houses in Viet Nam.

Foreigner using payment service of the bank has to pay the fee, subject to the policy of each bank in accordance with Article 17 of the Decree No.101/2012/NĐ-CP dated November 22, 2012 of the Government on non-cash payment.

Source: AsiaReal