Asset transfer provisions for OV repatriates
VGP – All commodities as property accompanying to overseas Vietnamese, brought into Việt Nam when the owners are permitted to settle in the country, are in the duty-free list.
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Question: What can overseas Vietnamese bring back to Việt Nam if they want to repatriate the motherland? And whether they have to pay import tax?
Answer:
1. List of permitted property for repatriation
Under the valid legal regulations of Việt Nam, when repatriating the motherland, overseas Vietnamese are free to bring with them their movables as well as belongings without paying value-added tax and import duty. Accordingly:
- Money and incomes (without any limitation)
- Personal belongings such as cars, motorbikes, televisions, freezers, air conditioners, stereos, only one of each type for each household or individual.
- However, movable assets of repatriates are not exempted from special consumption tax.
2. Tax exemption application
- Custom declaration form
- Repatriation permission
- Deceleration of property
- Documents proving origins of property
3. Retirement pension and healthcare insurance
When residing in Việt Nam, the OV repatriates can receive their foreign-paid retirement pension and healthcare insurance from other countries./.
