This article features a professional expert view on international real estate, investment & immigration. Let's look at Ms. Nguyen Le Van - CEO of International Real Estate Marketing Consulting Co. Ltd. (INHOMES) view on this.
Why has Europe been increasingly appealing to Vietnamese investors?
Not only Vietnamese investors. EU’s investment policy is well-suited to Asian investors, especially those in countries whose passports cannot provide them with free movement around the globe; Vietnam is one such country. Most importantly, the benefits this investment can offer investors far outweigh those of domestic investment.
What are those benefits, to be precise?
We often hear the phrase “invest without fear”: without the fear of losing the property, without the fear of risk; the investment should be safe and should help the investors achieve their goal. Smart investors often care about 2 major benefits, which are: the tangible profit (the property & return on investment - ROI) and the intangible benefits (business opportunities, free movement, personal development opportunities to become a global citizen...). After all, the tangible profit is dedicated to help people achieve their intangible ones. Therefore, the benefits vary depending on investors’ demand and vision.
In our country, over the last 10 years, the economy has developed steadily thanks to international business cooperation. Vietnamese people travel abroad to study and do business, and then come back home to contribute to our country; Oversea Vietnamese come back to contribute to their home country; overseas companies, groups and workers invest and come work in Vietnam, etc. This trend offers a multi-dimensional approach for a market where knowledge is shared, profit is generated and the community grows as a result. Aren’t these the benefits gained from investment?
Which investment sectors in the EU suit Vietnamese investors?
In recent years, we have seen more European companies and developers approaching Vietnam and offering real estate investment, Immigrant investor programs. Several countries, such as Greece, Portugal, Malta, Cyprus welcome investors to invest in their countries’ real estate in exchange for residence visas. This is a very smart policy of those countries wishing to promote their economic development and welcome good investors, businesspeople and talents from all over the world to live, work and contribute to their countries. Needless to say, many countries in the EU have immigrant investor or residency by investment programs, and these programs differ only in their investment options.
Clearly, these programs offer tremendous obvious benefits: If you buy a house, then you own a house. The property price is not higher compared to Vietnam market. Permanent property ownership is granted, and you have all the right to rent and resell your property. You are always offered professional property management services, and the legal documents are very clear and transparent. Most importantly, these programs are national policies, so most businesses operating in the field are examined, approved and regulated by the governments. Hence, international investors can rest assured when they sign a real estate deal and start their migration procedure (as they wish).
That sounds like a great opportunity for Vietnamese investors?
Definitely. In other words, you buy a house for your children to live there to study abroad, and you have opportunities to do business with EU companies and travel in the EU. When your children finish their study they can decide for themselves whether they want to apply for citizenship to continue living there. If not you can sell your house and the money return to you, definitely in bigger amount than what you paid to buy the house. In short, you lose nothing, but gain a lot.
How large is an investment in real estate, on average, to be qualified for the residence visas?
It depends on the specific market and that specific government’s policy to attract investment. For example, the minimum investment requirement for Greece PR is €250,000, for Portugal it is €350.000 and €300.000 in Cyprus... There are other programs as well. Just google it and you will receive sufficient information for your reference. However, each program has its own requirements and assessment process. And more importantly, the investors will choose whichever program that suits them.
How can people conduct transactions in such a time, you know, of Covid and is it safe to do so?
In my opinion, when you conduct a transaction, if you really want to maximize the efficiency, you have to stay focus, research and strictly follow the professional procedures. If there’s a difference currently, it’s just the way we approach the transaction. Please choose a reputable partner or developer who provides terms that you consider reasonable and examine the company or property through live stream or live video call… You see, the whole world is conducting transactions online. I myself, working in this field, conduct many transactions online and work online with international business partners and it works, so we should get used to it. You see, there are many smart investors who decide to invest amidst crises to take advantage of the lower prices but higher quality and better customer-care. Cutting cost is another way to earn more, you know.
Do you have any advice for the investors interested in these programs?
Please come to highly-professional consultancies or experts to see which country’s program suits your needs and ability, then visit the properties in person or online to choose a property. When you decide to invest, please work with certified local lawyers and conduct the transaction pursuant to the legal procedure. These are the primary steps that investors need to understand when they conduct a transaction. You need to always consult a lawyer. The consultant agencies only guide you through the process. In terms of the property, the developer plays an important role in delivering the property that meet both the agreed standards and the timeline. Therefore, we should choose reputable and experienced developers, as well as those with abundant resources to do business with.
And the final message here is…?
Migrating doesn’t necessarily mean going abroad and never return to your hometown. Actually, today, migrating means choosing a path for development, dedicating yourself to a serious decision for the sake of the future.
BeInvestor.net
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