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Vietnam facts and figures provide information on population, inflation rate, seasons, taxes, government, residency and visa requirements...
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Reviewed By Lief Simon
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
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| Information Type | Vietnam Data |
|---|---|
| Population | 100,770,000 (Dec. 2024 est.) |
| Gross Domestic Product (GDP) | US$468.49 billion (2024 est.) |
| GDP Per Capita | US$4,649 (2024 est.) |
| Inflation Rate | 4.5% (2024 est.) |
| Currency | Vietnamese dong (VND) |
| Exchange Rate Versus U.S. Dollar | 25,385 dongs per U.S. dollar (Dec. 2024) |
| 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 | 8.5 million (municipality area) |
| 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 | Single-party state |
| Current Leader | President Luong Cuong (since October 2024) |
| Income Tax Rate for Residents | 5% to 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-sourced income at a flat rate of 20% |
| Transfer Tax | 0.1 to 10%. 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 Chambers of Commerce | N/A |
| American Chamber of Commerce | |
| Primary Exports | Clothes, shoes, electronics, seafood, crude oil, rice, coffee, wooden products, machinery |
| 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 | Vietnam Airlines |
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Reviewed By Lief Simon
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
Start Your New Overseas Life Today
A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2024
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Vietnam is full of chances for explorers, history lovers, city fans, and beach enthusiasts.
Also, Vietnam is a cheap place to live. Most things cost less than half of what you would pay in Western countries, and prices are usually 5% to 25% lower.
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