can a non resident bank create a mortage on the land/property in vietnam, as a collateral to the bank for the financing obtain from the bank
2007-03-14 14:32:24 · 2 answers · asked by kamaradzaman e 1 in Business & Finance ➔ Credit
A non-resident (like myself) has a very hard time obtaining a mortgage. From what I understand, the Vietnamese trust no one when it comes to business, especially ex-patriot Viets.
If you are looking to develop land, contact the Vn embassy business office and have excellent bank references.
If you simply want to buy a farm or homestead, pay cash.
The Vn banks are currently PAYING over 9% interest on certificates of deposit. Are you sure you want to BORROW money from them?
If you are asking can your American bank grant you a mortgage for Viet property, the answer is no. The land ownership laws are to ambiguous at the present time.
If you are filthy rich, you may be able to obtain a business entity mortgage.
Your best bet would be to google Vietnam Economic News. At the very least, you could find a Viet real estate lawyer.
2007-03-18 13:35:28 · answer #1 · answered by rick m 6 · 0⤊ 0⤋
Paying off debt you owe is always good.
2007-03-17 10:19:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋