Financial planning for Americans living in Vietnam — clear, calm, and built around your US return.

Vietnam is one of the most exciting places an American can live right now — low cost of living, extraordinary food, a young and fast-moving country. We also know where the financial side quietly goes wrong. Vietnamese tax residency hits at 183 days. Your US broker may close your account once it sees a Vietnamese address. Medicare doesn't follow you. Capital controls make moving large sums in and out slower than people expect. We sit in the middle of all of it — so Vietnam stays the chapter you remember fondly, not a surprise tax bill at the end.

Cross-border financial planning and US investment management for Americans living abroad, typically with $1M+. Most clients have $1M+ in investable assets; we also work with selected households from $500K.

Written and reviewed by Anthony Walsh, Selanis. Last reviewed 2026-06-24.

Key issues

183-day Vietnamese tax residency
US broker closing your account
Medicare doesn't follow you
Capital controls on moving money out
No land ownership for foreigners
FBAR & Form 8938 still required

Vietnam taxes residents on worldwide income — and the 183-day line is the one almost everyone underestimates

If you spend 183 days or more in Vietnam in a 12-month period (or you have a registered permanent residence here), Vietnam considers you a tax resident and can tax your worldwide income at progressive rates up to 35%. That includes your US salary, your remote consulting work, your IRA and 401(k) distributions, US dividends, capital gains and rental income from your house back home. The US–Vietnam tax treaty was signed in 2015 but has never entered into force, so there is no treaty in effect today — you rely on the US Foreign Tax Credit to avoid double taxation, and the mechanics are unforgiving when done by accident. The single most valuable thing we do here is sit down with you and map, in plain English, exactly when you become a Vietnamese tax resident, what that means for each income stream, and how to structure the year so nothing is a surprise.

There is no US–Vietnam tax treaty in effect — so the standard expat playbook does not apply

Most other expat destinations rely on a tax treaty to allocate which country taxes what and to provide tie-breaker rules. Vietnam doesn't have that with the US today. In practice this means: both countries can tax the same income, and you have to actively claim the US Foreign Tax Credit on your 1040 to avoid being taxed twice on the same dollar. Done correctly, in most cases there is no double tax in dollars — but only if the Vietnamese tax is properly documented, paid in the right year, and matched to the right income on the US return. Done by accident, families end up paying real Vietnamese tax that their US accountant never credits against the US bill. We coordinate both sides so the credit actually lands.

Vietnam is genuinely affordable — but cashflow timing across two currencies still needs a plan

A comfortable life in Ho Chi Minh City or Hanoi for a couple sits in the $2,500–$4,500/month range, with high-end living in District 1 or Tay Ho closer to $5,000–$8,000/month. Da Nang and Hoi An come in lower. Many Americans living here genuinely save money compared to their old US life — but only if the inflows are sequenced correctly. Wiring large lump sums from a US brokerage on a calendar-resident year, drawing IRAs without a plan, or letting Vietnamese-source income build up untracked are the three most common ways the math quietly breaks. We build you a simple monthly plan in USD and VND that knows where each dollar comes from and what it costs you on both tax returns.

The day you change your address to Vietnam, your US brokerage may quietly start restricting your account

Many of the large US brokerages have tightened up on US persons with Southeast Asian addresses: no new mutual fund purchases, blocked retirement contributions, trade restrictions, sometimes account closure with 60 days' notice and forced liquidation. Forced liquidation in the wrong tax year can crystallize gains you weren't planning to realize — and the bill lands on your next 1040 and potentially your Vietnamese return too. A small bench of genuinely expat-friendly US custodians still welcomes US persons living in Vietnam. We move you before they move you, and we keep everything US-domiciled so you stay clear of PFIC reporting headaches.

Almost no investing happens inside Vietnam for our clients — and that is the whole point

We deliberately do not run American clients into Vietnamese mutual funds, locally-sold structured products, or offshore 'savings plans' pitched in HCMC. For US persons, foreign mutual funds fall under the IRS's punitive PFIC rules and can wipe out the return; offshore insurance wrappers usually fail US tax tests and lock you in for 15–25 years. The far better answer is almost always to keep your portfolio US-domiciled at a custodian that welcomes US persons abroad, invest through low-cost US-listed ETFs and mutual funds, and let Vietnam be the place you live — not the place your money lives.

Private healthcare in Vietnam is improving fast — but Medicare doesn't follow you, and serious cases still mean a flight

Hospitals like FV in HCMC, Vinmec in Hanoi and HCMC, Family Medical Practice and Raffles offer solid private care at a fraction of US prices, and routine medicine is genuinely affordable out of pocket. For complex or serious treatment, many expats still prefer to fly to Singapore, Bangkok or back to the US. The catch on the US side: Medicare almost never pays for care received outside the US, even though you may still be paying Part B premiums. International health insurance for Americans in Vietnam is reasonable in your 40s and climbs sharply after 65, with most policies refusing new applicants in your 70s. We sequence international cover, an evacuation rider where it matters, and the Medicare Part B decision into the financial plan — not as an afterthought.

Foreigners cannot own land in Vietnam — and what you can own comes with real US consequences

Americans cannot own land in Vietnam. You can own a condominium unit under the 2015 Housing Law, but with two important limits: foreign ownership is capped (broadly 30% of units in a building, with project-level caps for villa developments), and the foreign ownership right is structured as a renewable 50-year leasehold rather than freehold. Funds to purchase usually need to arrive through proper banking channels with documentation that supports the eventual repatriation of sale proceeds — and getting that paperwork wrong at the front end is the most common reason people struggle to move the money back out years later. On the US side, rental income lands on your 1040, gains on sale are US-taxable, and any creative Vietnamese company structure to get around the foreign-ownership limits typically creates extra US reporting obligations. We model the after-US-tax cost — and the exit — before you put down a deposit.

Vietnam has real capital controls — and the time to plan the exit is before the entry, not after

The Vietnamese dong is not freely convertible, and the State Bank of Vietnam regulates how foreign currency moves in and out of the country. Bringing money in is generally straightforward when documented properly; moving large sums back out — sale proceeds from a condo, accumulated Vietnamese-source earnings, a business exit — requires the right paper trail proving the money came in legitimately, was taxed properly, and is being repatriated through the correct channel. Families who arrive without thinking about the exit often find themselves years later trying to reconstruct documentation that no longer exists. We document the inflow the day it lands so the outflow is straightforward whenever you decide to leave.

Opening a Vietnamese bank account as an American is doable — but FATCA paperwork has slowed things down

Vietnam is FATCA-compliant, which means Vietnamese banks report US-person account information to the IRS through the Vietnamese authorities. You can still open accounts (a work permit, Temporary Residence Card or a long-stay visa makes it materially easier), but expect more questions, more forms, and sometimes a polite no at one branch and a yes at the next. A working Vietnamese account is genuinely important for daily life — rent, utilities, healthcare bills, paying domestic staff — and the easiest path is usually a major international bank with a Vietnam presence (HSBC, Standard Chartered, UOB, Shinhan) alongside a local bank. We help you sequence the visa, the address and the bank application so the answer is yes.

If you've married a Vietnamese national, the US-side estate planning has a quiet gap most families miss

A non-US-citizen spouse changes the US math: the unlimited marital deduction for US federal estate tax does not apply, and a QDOT trust is often the standard tool to defer the US estate tax bill at first death. Annual gifts to a non-US-citizen spouse are also capped (a higher cap, but still capped). On the Vietnamese side, since your spouse can own land in her own name, families often structure the home around her — which is fine, but only when paired with a clear US estate plan, a properly drafted Vietnamese will, and clarity about what happens to the apartment, the savings, and the kids' US citizenship if something happens to you. We draft the US plan and coordinate a Vietnamese will with a local lawyer we trust.

International schools in Vietnam are excellent — and the single biggest line item your plan needs to model honestly

The top international schools in HCMC and Hanoi (American-curriculum, British, IB) range broadly per child per year, with capital fees, transport, uniforms and activities on top. For an American family of four planning 5–10 years in Vietnam, schooling is often the largest non-housing cost in the entire plan — and the one that quietly compounds the most. The good news: there are excellent options at multiple price points, and many families find their kids get a more international, more confident education than they would back home. We model the full ten-year cost in plain numbers so the choice is conscious and the cashflow is real.

Vietnam doesn't touch your US filings — and the IRS still expects every form, on time, every year

FBAR (FinCEN 114) is required if your non-US accounts together ever crossed $10,000 at any single moment in the year — your Vietnamese checking, savings, your spouse's joint account, even a small management-fee account on a condo. Form 8938 kicks in at higher thresholds. State tax residency cleanup (especially California, New York and New Jersey) needs to be done properly so you're not still filing a state return five years later. And the full 1040 with worldwide income is non-negotiable. None of this is hard with the right system — and it's almost always missed without one.

Frequently asked questions

When do I become a Vietnamese tax resident?

If you spend 183 days or more in Vietnam in a 12-month period, or you have a registered permanent residence in Vietnam, you are generally a Vietnamese tax resident. Residents are taxed on worldwide income at progressive rates up to 35%. Non-residents are taxed only on Vietnam-sourced income at a flat 20%. We map your day count and your residency position for the year before it becomes a problem.

Is there a US–Vietnam tax treaty?

A treaty was signed in 2015 but has never entered into force, so there is no US–Vietnam tax treaty in effect today. In practice this means both countries can tax the same income, and you rely on the US Foreign Tax Credit to avoid being taxed twice on the same dollar. Done correctly, in dollar terms most clients do not pay double tax — but only when the credit is properly claimed on the 1040.

Will my US broker close my account when I move to Vietnam?

Possibly. Many US brokers restrict or close accounts for US persons with Southeast Asian addresses. A small bench of genuinely expat-friendly US custodians still supports Americans in Vietnam. We move you before they move you, and we keep everything US-domiciled to stay clear of PFIC reporting headaches.

Should I invest through Vietnamese funds or local products?

Almost never. For US persons, foreign mutual funds fall under the IRS's PFIC rules and are punitively taxed, and offshore insurance 'savings plans' sold in HCMC usually fail US tax tests and lock you in for 15–25 years. The right answer is almost always to keep the portfolio US-domiciled, invest through low-cost US-listed ETFs and mutual funds, and let Vietnam be the place you live — not the place your money lives.

Does Medicare work in Vietnam?

Almost never. US Medicare typically doesn't pay for care received outside the US. You'll want international health insurance, ideally with an evacuation rider given proximity to Singapore and Bangkok for complex cases, and ideally arranged before you turn 65 to lock in a lower premium curve. We model whether to keep Medicare Part B, drop it, or delay enrollment.

How much does it actually cost to live well in Vietnam?

Honest numbers for mid-2026: comfortable in HCMC or Hanoi for a couple at $2,500–$4,500/month, high-end living in District 1 or Tay Ho at $5,000–$8,000/month, Da Nang and Hoi An lower. International schooling is a meaningful line item per child. We build the real plan in USD and VND together.

Can I buy a condo in Vietnam as an American?

Yes, under the 2015 Housing Law, with caveats: foreign ownership in a building is capped (broadly 30% of units, with project-level caps for villas), and the foreign ownership right is structured as a renewable 50-year leasehold rather than freehold. Funds need to arrive through documented banking channels so that you can repatriate sale proceeds later. We model the after-US-tax cost — and the exit — before deposit.

Can I own land in Vietnam?

Not as a foreigner. Most expats either own a condo under the 2015 Housing Law, take a long-term lease, or have a Vietnamese spouse own land in her own name. Creative company structures to get around this can create extra US reporting issues and we generally avoid them.

My spouse is Vietnamese. What changes for US estate planning?

The US federal estate tax unlimited marital deduction does not apply to a non-US-citizen spouse. The standard tool is a QDOT trust to defer the US tax at first death. Annual gifts to a non-US-citizen spouse are also capped (a higher cap, but capped). We draft the QDOT alongside a Vietnamese will and a refreshed US estate plan.

Are there capital controls on getting money out of Vietnam?

Yes. The Vietnamese dong is not freely convertible and the State Bank of Vietnam regulates how foreign currency moves in and out. Bringing money in is generally fine when documented properly; getting large sums back out — sale proceeds, accumulated earnings, a business exit — requires that paper trail to be intact. We document inflows on day one so outflows are clean later.

Do I need to file US tax returns from Vietnam?

Yes — every year, on worldwide income, regardless of how long you've been gone. FBAR (FinCEN 114) is required if your non-US accounts together ever crossed $10,000 at any moment in the year. Form 8938 has higher thresholds. None of this goes away.

What about my state tax — California, New York, New Jersey?

The aggressive states do not easily release you. Domicile change needs to be done properly: physical presence elsewhere, intent documented, the right boxes checked on the way out. We sequence the cleanup so you're not still filing a state return five years later.

Do you actually file my US or Vietnamese taxes?

No, deliberately. We coordinate your US CPA and a Vietnamese tax practitioner into one strategy and design your investment, healthcare and estate plan around the positions they sign.

What does engagement cost?

We start with a 45-minute Complimentary Fit Conversation, no charge, no pitch. Engagement starts at $3,000 for a focused planning project, with ongoing management on a tiered fee from 1.00% on the first $1M, falling to 0.30% above $10M. No commissions, no retros, no product revenue. Ever — which is why we'll never sell you an offshore savings plan.

Fees

Blueprint $3,000 and Life $8,000 (flat planning fees). Private Wealth Management on a tiered, blended schedule starting at 1.00% on the first $1M and declining to 0.30% above $10M. Fee-only: no commissions, no product payments, no lock-in. All fees

Book a Fit Conversation — Complimentary Fit Conversation (45 min).