Exceptionally Scenic And Affordable

Vietnam is an emerging market that has only recently moved beyond the dark transition following the war. Now this country is changing almost daily. The population is youthful, and an energy permeates everything.

This is a land of beautiful beaches, cool mountain retreats, and cities seething with vitality. Many Westerners head to Vietnam and love it. Others complain about the hustle, the noise, and the lack of Western influence, particularly in the northern part of the country (Hanoi). On the other hand, the cost of living is temptingly low.

Beautiful Vietnam offers an exceptionally low cost of living.

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Population  90,549,390 (July 2011 est..)
Gross Domestic  Product (GDP) $276.6 billion (2010 est.)
GDP Per Capita $3,100 (2010 est.)
Inflation Rate 9% (2010 est.)
Currency dong (VND)
Exchange Rate Versus U.S. Dollar  19,148.9 (2010) dong (VND) per US dollar -
Language Vietnamese (official), English (increasingly favored as a second language), some French, Chinese, and Khmer, mountain area languages (Mon-Khmer and Malayo-Polynesian)
Capital  HANOI
Population of Capital City 2.668 million
Time Zone UTC/GMT +7 hours
Seasons tropical in south; monsoonal in north with hot, rainy season (May to September) and warm, dry season (October to March)
International Dialing Code 84
Electricity 120/220V- 50Hz
System of Government Communist state
Name and Party Affiliation of Current Leader chief of state: President Trong Tan SANG (since 25 June 2011); Vice President Nguyen Thi DOAN (25 July 2007)
Income Tax Rate for Residents 5%-35%
Property Tax The municipal authorities levy tax on real estate
Capital Gains Tax 0.1% on the gross sale or 20% of net profit. 
Inheritance Tax Inheritances and gifts are subject to income tax at special rates. 
Rental Income Tax Nonresidents are liable to pay tax on their Vietnamese-sourcedincome at a flat rate of 20%
Transfer Tax 0.5 to 15%. Apply on the transfer of properties
Sales Tax rates are 0%, 5% and 10%
Restrictions on Foreign Ownership of Property Foreigners are not allowed to own land
Local Chamber of Commerce http://www.ito.org.tr/wps/portal
American Chamber of Commerce http://www.amchamvietnam.com/
Primary Exports  
Residency and Visa Requirements Foreign nationals who wish to visit the country can apply directly at the Vietnam Embassy or Consulates located in their countries of residence. The entire application process will take about 4 to 10 days. Visitors may also obtain the visa upon arrival at the airport with certain special requirements. 
Special Benefits for  Foreign Residents or Retirees Foreigners who are residents in Vietnam can own dwelling houses but cannot sub-lease these dwellings
National Airline www.vietnamairlines.com

 

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