Banking
Q: How do I open a bank account in Ho Chi Minh City?
To open an account in Ho Chi Minh City, you will need copies of your passport, employer's letter, and a statement from a bank in your home country or proof of residential address in your home country. Most of the major banks in the world are represented here. Ho Chi Minh City has extensive facilities of automated teller machines (ATMs)
Major banks here include:
ANZ Bank – 11 Me Linh Sq., District 1, Phone: 08/3829-9319
Citibank – 115 Nguyen Hue St., District 1, Phone: 08/3824-2118
HSBC – 235 Dong Khoi St., District 1, Phone: 08/3829-2288
Vietcombank – 29 Ben Chuong Duong, District 1, Phone: 08/3829-7245
Q: Where can I change my money to VND currency?
Banks and hotels can change money and most shopping complexes have a licensed money changer. Visitors are advised not to change money with an unlicensed operator. Most banks open from 08.00am to 11.30am and 13.00pm to 16.00pm on weekdays. Some large banks also open through lunch or on Saturday mornings. Banks are closed on public holidays.
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Employment
Q: Who is eligible to apply for an Working Permit?
Any foreigner may apply for an Working Permit to be employed or to do business in Vietnam if he fulfils the eligibility criteria. For details please see the Department of Labor, Invalid and Society
Q: How can I find out more about terms & conditions of employment in Vietnam?
You can look up the Department of Labor, Invalid and Society for a list of common questions on terms & conditions of employment in Vietnam.
Q: I have a Working Permint, do I have to pay income tax?
If you are here on short term employment lasting not more than 90 days and /or are under the Avoidance of Double Taxation Agreement between Vietnam and your country of residence, your earnings are exempted from tax. Otherwise, for a non-resident, the short-term (90 days or less) employment income is exempted from tax. Non-residents who have stayed in Vietnam for more than 90 days but less than 183 days will have their employment income taxed resident rates ranging from 5-35%.
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Housing
Q: Where do I start if I am looking for accommodation in Ho Chi Minh City?
For short term accommodations (less than a year), look at our list of Service Apartments or Hotels in Ho Chi Minh City. If you are working in Ho Chi Minh City for a contract period of more than a year, we recommend you to take a look at our House Hunt Guide. Thereafter, you can search in our Ho Chi Minh City Online Property Listings or contact us.
Q: Should I use ONE property agent or MANY agents?
Using only ONE agent will save you time and hassle as the agent would have better understanding of your requirements after the first appointment. Therefore, it is strongly advised to use ONE agent.
Q: How do I apply for Power Supply, home telephone line, Saigon Cable TeleVision (SCTV) and High-Speed Internet subscription?
All of the above - Your landlord will help and apply for you.
Q: How are rents quoted and paid?
Rents are typically quoted using a USD monthly rental rate and are fixed for the duration of the lease period.
Q: What is the typical lease term?
Lease terms typically vary from one (1) to three (3) years.
Q: Do tenants have automatic renewal rights?
The tenant typically has an option to renew at market rental rate. Rental increases, are typically capped at a maximum of 10% of the rental from the previous year.
Q: Do tenants have automatic sublet or assignment rights?
Tenants are typically not allowed to sublease the premises during the lease term – in some extraordinary cases the tenant may be able to have a “diplomatic clause” inserted in their lease which will allow a company to terminate the lease if the expatriate is transferred outside of Vietnam.
We have been told there are lots of extra costs above a monthly rental. What are they?
As with any costs, as long as you are made aware of them before hand, they are easier to manage. It's the surprise ones that catch people unaware. Beyond the monthly rental you will have to pay your utilities bill (electricity, water etc.) The water cost is low - on average about $20 per month but electricity can be shockingly high! The average electricity bill is S$100 to 200 per month but remember this may be substantially more if you live in a larger house or use the air-conditioning all the time.
You may also be responsible for the regular servicing of your air-conditioning units in your home (this will be indicated in your Lease Agreement). Other possible bills include maid's salary - from $300 upwards per month.
If you rent a house with garden your extra costs will (unless included in the monthly rental) be a Gardener - average $200 per month. Pool cleaning services an average of $150 per month. Pest Control is something you may also wish to consider on a monthly basis if you have a garden - average $100 per month. If you choose to live in an apartment / condominium the rental will include cost of services such as maintenance of facilities.
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Schools
Q: Where do I find information on the schools for my child?
You can find the list of schools in our International Schools in Ho Chi Minh City.
Q: Is it true there are waiting lists for all the International Schools?
It is correct that for some International Schools for some classes / grades there is a waiting list. However, we do advise all of our clients to view the schools of their preference during their familiarisation programme and talk directly with the Admissions Officer. It is important to keep in mind that Ho Chi Minh City has a transient expat population and school or class waiting lists change on a regular basis.
Q: How do I enroll my child into the school and what are the procedures?
For procedures please contact the respective school directly.
