Wealth management in Vietnam

“Alexis, I am returning to France after six years in Ho Chi Minh City, but I am keeping my flat there, let in my name. Is that a problem?”

It can be. Vietnamese law recognises tax residence from 183 days of presence, but also through the mere availability of a habitual home : a registered residence or a lease of at least 183 days in the year. You can therefore remain a Vietnamese resident after your return, while becoming a French resident again. Two countries claim you: the treaty decides, on the evidence.

Vietnam has 6,957 French nationals on the consular register at 31 December 2025 (−3.1% over one year).

The treaty of 10 February 1993 covers income and wealth, not inheritance; the exit tax requires guarantees there. At Balmont Conseil, we start from this text, read article by article.

1. Why seek expert wealth management in Vietnam?

Four points decide your situation, on the way out as well as on the way back.

Your home makes your residence. A lease of at least 183 days is enough in Vietnam. On the way out, it is useful evidence; on the way back, it is a dual residence risk to be dealt with.
An exclusion clause. Article 4(1) of the treaty excludes from residence persons taxed in Vietnam only on their Vietnamese-source income or on wealth located there.
The exit tax requires guarantees. Vietnam does not assist France in recovering tax: the deferral must be requested, with a tax representative in France.
Your estate. No convention governs it: France applies article 750 ter of the general tax code, without conventional correction.

2. The France ↔ Vietnam framework in five verified points

Here is the applicable framework, checked against official sources as at 1st October 2026.

French nationals on the register	6,957 at 31 December 2025 (−3.1% over one year).
Income tax treaty	Yes — treaty of 10 February 1993 and its protocol, with no amending protocol, modified by the BEPS multilateral convention. It covers income tax and wealth tax, and therefore IFI.
Estate tax treaty	No. No convention governs inheritances or gifts between France and Vietnam: Article 750 ter of the General Tax Code applies without conventional correction.
Exit tax — deferral of payment	Deferral on request, with a tax representative and guarantees. Vietnam does not assist France in tax collection (annex BOI-ANNX-000508).
CSG and CRDS on property income and capital gains	17.2% on property income and property capital gains, 18.6% on furnished lettings from 2025 income. The reduced rate of 7.5% does not apply.

Sources: list of tax treaties concluded by France (BOI-ANNX-000306, updated 29 April 2026); exchange-of-information and recovery-assistance clauses (BOI-ANNX-000508, position at 8 October 2025); register of French nationals living outside France at 31 December 2025 (Ministry for Europe and Foreign Affairs); text of the treaty published by impots.gouv.fr; impots.gouv.fr for non-residents' social charges. Position as at 1st October 2026.

On dual residence. The treaty decides by permanent home, then centre of vital interests, habitual abode and nationality. On your return, a Vietnamese lease you keep weighs in the balance: better to terminate it or document it.

On the IFI. The treaty covers wealth tax: it frames the IFI due on your real estate located in France above €1.3 million.

On your French income. During expatriation, it remains taxed in France, at the minimum rate of 20%, then 30% above €29,579 of net taxable income, or at the average rate if it is more favourable.

What we do not show. The detail of Vietnamese tax is handled with a licensed adviser in Vietnam, whom we coordinate.

3. Our services: 360° support for expatriates and investors

Three workstreams, on the way out as well as on the way back.

Departure: residence and exit tax

We establish the date of your departure from French tax matters and list the proofs of Vietnamese residence. If your securities exceed €800,000 or if you hold at least 50% of the profits of a company, we prepare the application for deferral of exit tax (Article 167 bis of the French General Tax Code), with a tax representative and guarantees.

Tax departure date and evidence of residence.
Deferral application: tax representative and guarantees.
Annual monitoring for as long as the deferral runs.

Returning: leaving Vietnamese residence cleanly

Lease, registered residence, accounts: we list what still ties you to Vietnam, and what needs to be closed or documented so that your return to France does not create a year of double taxation.

Your contracts are reviewed at the same time: a French assurance-vie held by a non-resident no longer bears social charges, and a Luxembourg assurance-vie contract can be considered for a path across several countries.

Estate transfer without a treaty

We establish what each heir would pay in France, according to their residence and the situation of the assets, and we prepare the gifts at the right time.

4. Methodology: our way of working

We work in four stages, and at each stage you know where you stand.

The initial review. We establish your actual situation: the make-up of your wealth, the project timeline, the situation of each member of the household, and the tax domicile of your heirs — because it is theirs that counts, not yours.
The applicable framework. We set out, source by source and with its date, the framework that applies to you. What we do not know, we mark “to be confirmed” — never anything else.
The choices. We present the options with figures and their respective consequences, and you decide. Wealth structuring comes after the decision, not before.
Ongoing monitoring. An annual review, free of charge, to check that the framework has not moved — treaties are amended, incentive regimes are abolished, thresholds change.

5. What the firm offers you

What concretely sets our work apart.

Sources, not claims. Every item in your file carries its reference and its date. You can check. It is the only way to work on a subject where most of the information available online is out of date.
A single point of contact in France. We coordinate your local advisers; we do not replace them: the host country's domestic tax rules are handled with a qualified professional on the ground. Our role is to keep the whole picture consistent and to defend the French side of the file.
Fees that are easy to understand. Fees disclosed before any commitment: fixed-price reviews, tailor-made engagements at €500 incl. VAT per hour, insurers' commissions on contracts taken out. The annual review is free of charge.

Frequently asked questions: Vietnam

Can I remain a Vietnamese resident after returning to France?

Yes, if you keep a habitual home in Vietnam: Vietnamese law treats you as resident from 183 days of presence, or through a lease of at least 183 days in the year. The treaty of 10 February 1993 then decides, on the evidence.

Is the exit tax deferral automatic for a move to Vietnam?

No. Vietnam does not assist France in recovering tax (Annex BOI-ANNX-000508). The deferral must be requested, with a tax representative and guarantees (Article 167 bis of the French Tax Code).

Is there a treaty on inheritance between France and Vietnam?

No. The 1993 convention covers income and wealth, not inheritances or gifts. France therefore applies Article 750 ter of the General Tax Code, without any treaty amendment.

Is my French rental income still taxed in France?

Yes: at a minimum rate of 20% up to €29,579 of net taxable income and 30% above that, unless you opt for the average rate, plus social charges of 17.2% on unfurnished lettings and 18.6% on furnished lettings from 2025 income.

Does the IFI apply if I live in Vietnam?

On your property located in France, above €1.3m of net assets, yes. The treaty covers wealth tax and should be read to see how it frames it.

In summary

In Vietnam, your home makes your residence, on the way out as well as on the way back. The exit tax requires guarantees there, and inheritance is protected by no text.

Departure, return and estate transfer are each prepared at their own time.

Firm's fees: €500 incl. VAT per hour. Annual follow-up is free of charge.