11 Feb Expats in Vietnam: Your Top 7 Financial Questions Answered
By Daniel Dal Molin
Whether you are dreaming of a career move, a new study environment, or a comfortable retirement, Vietnam is likely on your radar. It is a country where age-old traditions blend seamlessly with modern life. However, before you pack your bags for the streets of Hanoi or the beaches of Da Nang, it is essential to grasp the complete financial landscape.
From the cost of a flat to the latest visa options for 2026, here is what you need to know about managing your money in the Land of the Blue Dragon.
1. What is the real cost of everyday life?
Vietnam is widely celebrated for its affordability, but your budget will depend heavily on your home comforts. In major hubs like Ho Chi Minh City or Hanoi, a monthly budget of US $1,200–$1,600 allows for a very comfortable lifestyle.
- Accommodation: You can find modern one-bedroom apartments in popular areas for US $500–$1000 per month. If you look slightly outside the city centre, these prices drop significantly.
- Dining: Local street food is a bargain, often costing only a few dollars. However, if you prefer international restaurants or imported groceries, your food bill is likely to increase.
- Utilities: High-speed internet, water, and electricity usually add between approximately US $50–$100.
2. What are the latest visa and residency options?
This is the most common question for retirees. Currently, Vietnam does not offer a specific Retirement Visa, but the landscape is shifting.
Until then, here are your current pathways:
- The E-Visa: Many retirees use the 90-day multi-entry E-visa. While this requires leaving and re-entering the country every three months, it remains the most common route for those without local business ties.
- Investment Visas (DT1 to DT4): These are available to those who invest in a Vietnamese company. The duration depends on the size of your investment.
- Employment Visas (LD): Taking a professional role, such as a director or consultant, can secure you a work visa.
- Family Exemptions: If you are married to a Vietnamese citizen, you can apply for a five-year visa exemption.
3. How do banking and money transfers work?
Opening a bank account is generally a smooth process if you hold a work permit or a Temporary Residence Card (TRC). If you are visiting on a tourist visa, you might find that most local banks only allow you to open limited accounts.
Local giants like Vietcombank and Techcombank are reliable, but many expats use international banks for larger transfers. While credit cards are accepted in malls and hotels, cash is still the primary way to pay at local markets and smaller shops.
4. What should I know about taxes?
If you spend more than 183 days in Vietnam within a 12-month period, you are typically considered a tax resident. This means you are technically liable for tax on your worldwide income.
The rules can be complex, especially for remote workers or those with pensions from abroad. It is always a good idea to speak with a professional to ensure you are compliant with both Vietnamese law and your home country’s tax requirements.
5. How does healthcare fit into a budget?
Public hospitals provide the basics, but most expats choose private or international hospitals where English is widely spoken.
While a routine GP visit might only cost around approximately US $35–$65, serious procedures can be expensive. Most long-term residents opt for private health insurance to cover hospitalisation and emergency evacuations. It is a vital safety net that offers peace of mind while exploring more remote parts of the country.
6. Should I buy property or stick to renting?
For most newcomers, renting can be the sensible choice. It allows you to test drive different neighbourhoods like Tay Ho in Hanoi or Thao Dien in Ho Chi Minh City without a long-term commitment.
If you are looking at the bigger picture, you can purchase apartments or condominiums. However, you do not own the land in the traditional sense. Instead, you enter into a 50-year leasehold agreement. Buying can be a sound investment, but it requires navigating specific quotas that limit foreign ownership to 30 percent of any single building.
7. Can I save money while living there long term?
Many people move to Vietnam specifically because their savings or pensions go much further. If you are earning in a strong currency, you will likely find that you can maintain a high standard of living while still tucking money away.
However, you should keep an emergency fund set aside. Because visa rules and residency requirements can change, having a financial cushion ensures that you can adapt to new regulations without stress.
Final thoughts
Vietnam is a rewarding place to live, full of warmth, incredible food, and a low cost of entry. With so many moving parts regarding tax residency and investment pathways, having a clear roadmap is essential for a stress-free transition.
If you’d like to explore how these factors may affect your personal financial goals, you’re welcome to schedule a complimentary consultation with me.
Daniel Dal Molin is an experienced financial adviser specialising in retirement planning for expatriates. He helps expats plan for the medium and long-term, advising them on the best investment strategies to build and preserve wealth while navigating the complexities of international tax laws and market conditions.
Daniel is an Authorised Representative of Global Financial Consultants Pte Ltd – No: 200305462G | MAS License No: FA100035-3)
To learn more about how Daniel may be able to help you, please contact him:
Phone number: +65 9058 9568
Email address: daniel.dalmolin@gfcadvice.com
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General Information Only: The information on this site is of a general nature only. It does not take into account your individual financial situation, objectives or needs. You should consider your own financial position and requirements before making a decision.
*Please note that Daniel Dal Molin is not a tax agent or accountant and none of the content outlined here should be taken as personal advice. You should consult your tax agent and financial adviser to review your current personal finances and financial goals to consider whether this strategy is appropriate for you.