Vietnam’s cost of living is about 59.3% lower than that of the United States, with rent being around 78.5% cheaper in some areas. The lower cost, combined with the country’s cultural vibrancy and scenic landscapes, makes it a tempting destination for foreign expatriates to retire.
This comprehensive guide will provide you with a clear roadmap, detailing the cost of living, the comparison between buying or leasing property, as well as visa requirements to retire in Vietnam.
Key Considerations When Planning Your Retirement in Vietnam
How Much Does It Cost To Retire in Vietnam?
One of the main points of interest for foreign expats looking to relocate to Vietnam for retirement is the affordability of most basic living expenses compared to Western countries. While costs can vary depending on region and lifestyle, the table below provides an overview of the typical monthly costs you’ll incur while living in Vietnam as a retiree:
| Expenses | Average Monthly Cost (USD) |
| Housing (One bedroom apartment) | $200 – $600 |
| Food (Groceries) | $100 – $200 |
| Basic Utilities (Electricity, Water, Internet) | $50 – $100 |
| Health Insurance | $50 – $200 |
| Public Transportation | $10 – $30 |
Where Are The Most Common Areas For Retiring As An Expat?
There are several popular regions for retirement in Vietnam. When planning your relocation, you must consider not only the average cost of living in a specific region but also the lifestyle and availability of amenities and activities that are most relevant to your interests:
- Da Nang: Known for its well-planned urban environment, modern medical facilities, well-maintained infrastructure, and beautiful beaches.
- Hoi An: Famous for its historical architecture and cultural heritage with a relaxed atmosphere, strong community of expats, and located near Da Nang’s modern amenities.
- Hanoi: The capital of Vietnam that offers a mix of both modern and traditional as one of the oldest capitals in the world. Hanoi has well-developed public transportation systems, making it highly accessible.
- Ho Chi Minh City: A bustling city with access to a lot of amenities and services which include quality medical care facilities and entertainment hubs for leisure.
- Nha Trang: A more quiet and relaxed area by the coast that offers a lot of outdoor recreational activities with a low crime rate and a laid-back lifestyle.
Buying vs Leasing Property in Vietnam
Buying property in Vietnam can be a challenging process for foreigners due to the country’s strict regulations which restrict foreigners from owning land. These regulations are to protect the rights of locals. Purchasing property requires you to meet certain requirements and have significant financial backing. As such, it is far more common for expats to enter into leasehold agreements:
| Buying Property | Leasing Property |
| – Foreigners cannot own land, but they can own buildings and structures on land – Foreigners can purchase apartments in commercial housing projects with a max cap of 30% of the total units in the building and 10% of properties within a landed residential housing project – For leasehold arrangements, foreigners usually acquire a leasehold for up to 50 years (renewable) – Must have a valid visa – Comply with Vietnamese housing laws | – Can lease land for up to 50 years with renewal options, allowing foreigners to use the land for residential or commercial purposes without owning the land – More flexibility and less financial commitment allows for easier relocation – Lower initial costs in comparison to buying a property – No ownership rights, so as a tenant, you must adhere to the terms set by the owner or the leasing company which may limit control over the property |
Emerhub’s property management service can assist you in finding a suitable property based on your personal or business needs. We’ll ensure you comply with the necessary housing laws and help you secure a strong leasehold or freehold contract. If you are interested in learning more, take a look at our related post on how to buy property in Vietnam as a foreigner.
Choosing The Right Visa To Retire in Vietnam As A Foreigner
Currently, Vietnam does not offer a specific visa for retirement, but they do have other visa options you could look into if you plan to relocate to the country for the long term. The most common options for retirees include:
- Vietnam Visitor (VR) Visa: Allows long-term travel or tourism activities and multiple entries into the countries. This visa is a short-term option intended for tourism and is valid for 180 days, so you cannot perform any business activities. It is ideal for the planning phase of your retirement while you decide on the details of your relocation.
- Long-Term Visa Exemption: If you are married to a Vietnamese citizen or have Vietnamese ancestry, you can apply for this visa exemption. It allows you to stay in the country for 180 days per entry and is extendable for 6 months. The certificate is valid for 5 years and requires a passport or residence permit from your country of residence.
- Investor (DT) Visa: The most common option for retirees. It is issued to foreign investors in Vietnam and representatives of foreign companies investing in Vietnam, allowing them to stay up to 5 years. This visa allows investors to conduct the following activities:
- Establishing and operating a business
- Investing in existing companies
- Real estate investment
- Investment projects
- Participate in joint ventures
- Engage in research and development
What Are The Requirements To Apply For An Investment Visa To Retire in Vietnam?
Selecting The Right Visa Classification Based on Your Investment
The Investor (DT) Visa is the most common option for retirees relocating to Vietnam as it offers a longer stay period, exemption from work permits, and allows you to bring your spouse and children under the age of 18 through dependent visas. However, it does come with investment requirements and a more complex registration process.
The visa classifications are divided based on the specific invested amount:
- DT1: Investments of a minimum of VND 100 billion, or investment in preferential industries as determined by the Vietnamese government, valid for 5 years
- DT2: Investments between VND 50 billion and under VND 100 billion or investing in industries that encourage investment and development as determined by the Vietnamese government, valid for 5 years
- DT3: Investments between VND 3 billion and under VND 50 billion, valid for 3 years only
- DT4: investments under VND 3 billion, valid for 1 year
In terms of what you are not allowed to do, this visa does not permit non-investment-related activities, converting to different visa types and employment, or working for other companies that are unrelated to your investment.
Required Documents for An Investor (DT) Visa
To apply for an Investor (DT) Visa, you must acquire a Business Registration Certificate (ERC) and an Investment Registration Certificate (IRC) beforehand. You can apply for an investor visa either by investing through opening your own company in Vietnam or through sponsorship provided by an existing Vietnamese legal entity in which you are investing.
Additionally, you will have to prepare the following documentation for the visa application:
- Proof of financial capacity
- Legal papers of the investor and their legal representative (if applicable)
- Health Insurance
- Visa Application Form (Form NA5)
- Passport with at least 6 months validity
- Seal Registration Certificate
- Passport-sized photos
- Temporary Residence Registration Form (if already residing in Vietnam)
Emerhub’s team of local consultants can assist you in obtaining the Investor (DT) Visa by reviewing the necessary documentation and submitting the application to the local governing units. We’ll advise you on the best visa type for your intended activities within the country. Fill out the form below and we’ll get in touch.
