We provide lender-ready capital raise packaging and debt or equity placement support for business owners and buyers looking to secure serious term sheets and close funding on a defined timeline.
For business owners and acquirers pursuing private debt or equity, submit your deal for review. We revert within one working day with next steps and either a quote for our services.
For pre-submission discussions, we offer paid consultations. To initiate underwriting and lender outreach, submit the deal.
Commercial Real Estate Strategy
Vietnam is investable when you treat it like a rules-based market, not a shortcut market. The winners bring clean governance, credible local execution, and financing structures that match how land, permits, and cash flows work in-country.
This guide is written for sponsors and developers considering acquisition, development, recapitalization, or joint venture investment. It is practical: entry routes, foreign ownership boundaries, diligence items, financing paths, and the paperwork that keeps deals bankable.
For capital structuring and raise support, see Commercial Real Estate Capital Raising Services and Real Estate Financing.
Vietnam’s land regime is not a simple freehold model. The investable approach is to structure around lawful land use, permitted property ownership, and enforceable project rights. As a result, your deal structure matters more than your pro forma.
If you want primary sources, review the overview of the Land Law timeline and reforms here: Vietnam Ministry of Foreign Affairs commentary on the Land Law 2024 and a legal market view here: Freshfields on Land Law 2024 changes for foreign investment.
The cleanest partnerships in Vietnam align incentives early: decision rights, milestones, budget controls, reporting cadence, and what happens if permits, cost, or sales slip.
| Entry Route | Who Uses It | Why It Works |
|---|---|---|
| Joint Venture With A Local Developer | Sponsors, co-developers, family offices | Local partner drives approvals and execution while sponsor provides capital, governance, and institutional discipline |
| M&A Into An Existing Project Company | Sponsors and strategic developers | Faster access to land position, permits, and existing contracts, if diligence confirms clean title and approvals |
| Build-to-Suit Industrial or Logistics | Developers, industrial operators, sponsors | Often clearer cash flow underwriting when anchored by a real tenant, defined specs, and lease covenants |
| Income-Producing Asset Acquisition | Sponsors, RE credit funds, investors | Stabilized NOI and reporting support predictable financing and reduce entitlement risk |
For foreign investors, it is common to see a split between (1) direct ownership of certain residential units within quota limits, and (2) project or asset exposure achieved through permitted corporate and land use structures. The key point is that the “unit purchase” model and the “project company” model are governed differently.
Foreign residential ownership is not unlimited. In practice, foreign ownership is often subject to quota limits at the building or area level, and land use rights are typically not held directly by foreign individuals. If you are underwriting a development, treat these boundaries as commercial constraints, not footnotes.
Useful background reading on foreign property ownership boundaries and quotas: Vietnam Law Magazine on foreign ownership caps and Vietnam Briefing on foreign ownership guidelines.
Vietnam deals are financeable when the capital stack matches project reality: permit timeline, sales or lease curve, construction risks, and cash controls. Sponsors and developers should think in layers: senior secured debt, mezzanine or preferred equity, then common equity with clear distribution tests.
| Capital Layer | Typical Use | What Lenders And Investors Will Demand |
|---|---|---|
| Senior Secured Debt | Acquisition, construction, bridge-to-stabilization | Clean title and approvals, controlled accounts, covenants, reporting, and enforceable security package |
| Mezzanine Or Preferred Equity | Gap funding, cost overruns, speed to close | Clear priority rights, default remedies, distributions tests, and downside protections |
| Common Equity | Land, early development, sponsor equity, JV equity | Governance rights, reserved matters, budget controls, and credible exit pathway |
For capital stack expectations and underwriting discipline, see: Commercial Real Estate Capital Raising Methodology and Commercial Real Estate Loans Guide.
Timing risk is real. Treat permits as milestones, not assumptions. Build a schedule that can survive delays and align debt drawdowns to verified approvals.
Underwrite FX exposures and dividend mechanics. Plan for audited financials, tax compliance, and documented approvals where required for distributions and cross-border remittance.
If your exit relies on residential sales to foreign buyers, quota limits and eligibility rules can cap demand. Underwrite domestic demand, pricing elasticity, and absorption rates with discipline.
Large projects can face additional screening and process friction depending on asset type and location. Treat compliance as part of the schedule and budget, not an afterthought.
In most cases, foreign individuals do not hold land use rights directly, and investment structures typically rely on permitted corporate vehicles, land leases, and project rights. Always confirm the exact structure with local counsel for the asset type and location.
Often yes, because local partners can manage approvals and execution while the sponsor provides capital, governance, and institutional controls. The JV must be documented tightly to avoid budget drift and decision deadlocks.
Clean title and approvals, enforceable security, controlled cash flows, realistic sales or lease underwriting, and reporting that matches credit committee standards.
Treat quotas as a hard cap on a portion of demand. Underwrite domestic demand first and design absorption assumptions that survive quota saturation.
Package the deal like an institutional credit and equity raise: clear structure, clean diligence, controlled accounts, a defensible model, and an execution plan.
Yes, if the structure is not viable, diligence spend is wasted. Start with a structure and capital stack check, then scale diligence based on bankability.
If you have a target asset, a land position, or an active joint venture discussion in Vietnam, submit your deal. We revert with a structuring view, a diligence checklist, and a capital stack plan sized to your timeline.
Vietnam real estate can be attractive, but only if the structure is lawful and financeable. Sponsors win by controlling governance and capital stack discipline. Developers win by controlling permits, cost, schedule, and execution. The best outcomes align both.
Financely advises growth-focused businesses on accessing capital by introducing their opportunities to professional investors. Financely is not a securities broker or dealer. Where appropriate, engagements are coordinated with regulated broker-dealers, investment banks, legal counsel, and other specialists.
Financely does not solicit, offer, or accept orders to buy or sell securities and makes no assurance regarding capital-raising outcomes.
Services are strictly business-to-business. Financely does not provide personal finance, consumer credit, or retail advisory services.
Advisory services are reserved for post-revenue companies that recognize the time and resources required for professional underwriting.
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All mandates start with an RFQ. We review submissions, issue a brief Go/No-Go memo, and where bankable, release a Term Sheet that leads to funding. We arrange capital across Senior Secured, Unitranche, Second Lien/Mezzanine, Preferred Equity, and Gap Solutions. We do not process deals by email or chat.
Letters of Credit, Standby LCs, Confirmations, Receivables Finance, and Inventory Lines with control.
Funding arranged for trade flows with instruments sized to your cycle and aligned to delivery and settlement.
Move forward to secure working capital and keep goods moving. Submit the RFQ to start underwriting for funding.
Limited or non-recourse structures for energy and infrastructure with lender-ready materials.
Funding solutions aligned to project cash flows with credible covenants and conditions to reach notice to proceed.
Advance the file to termable status. Submit the RFQ so we can underwrite and secure funding.
Debt and Preferred solutions anchored on cash flow, Quality of Earnings, and clear closing mechanics.
Funding across senior, unitranche, and preferred to match stable cash flows and acquisition timelines.
Get financed on workable terms for closing. Submit the RFQ to start underwriting.
Acquisition, development, bridge, and refinance with lender-ready packs and third-party reports managed.
Funding calibrated to DSCR, leverage, and tenancy with terms designed to close.
Move to a financeable package. Submit the RFQ to initiate underwriting for funding.
KYC and Source of Funds required. Engagements are best-efforts and subject to underwriting. Preference for operating companies with meaningful revenue. See our FAQ and Procedure.
Financely Inc. (“Financely”) provides corporate-finance advice and is wholly owned by Aurora Bay Trust, a trust formed under Bahamian law, together with its authorized affiliates. Depending on deal structure, jurisdiction, and local rules, engagements may be carried out through Financely Group LLC, a non-deposit-taking, non-banking financial company; Ashford Capital Advisory LLC; or another related entity.
Financely and its affiliates are not registered as securities broker-dealers and do not execute securities transactions or hold client funds or securities. When a mandate involves the purchase or sale of securities and a registered intermediary is required, any orders are introduced to and executed by one or more independent U.S. broker-dealers registered with the SEC and FINRA. Those broker-dealers are solely responsible for trade execution, custody, and related regulatory obligations. Nothing in this material constitutes an offer, solicitation, or recommendation to buy or sell any security or to engage in any specific transaction. Before engaging Financely Group LLC, Ashford Capital Advisory LLC, or any affiliate, you are responsible for confirming that such engagement complies with your own legal, regulatory, tax, and other requirements. In the United States, certain advisory activities may be conducted in reliance on exemptions available under the Investment Advisers Act of 1940, including the “foreign private adviser” exemption where applicable. Our services and regulatory status may vary by jurisdiction and by transaction type.
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