Moving to Vietnam is already a significant life decision, but moving to Vietnam with kids introduces an added layer of complexity. As an expat myself and a financial adviser working closely with internationally mobile families, I understand both the excitement and the practical concerns that come with such a move.
Vietnam has become an increasingly attractive destination for UK families. Its dynamic economy, relatively low cost of living, and rich cultural experience make it appealing. However, without careful financial planning, the transition can become more costly than expected.
In this guide, I’ll walk you through the key financial considerations when moving to Vietnam with children, from day-to-day costs to school fees and long-term planning.
Why Families Are Moving to Vietnam
Before diving into costs, it’s worth understanding why so many UK expats are choosing Vietnam:
1. Lower Living Costs Compared to the UK
One of the primary reasons families consider moving to Vietnam with kids is the significantly lower cost of living compared to the UK. However, this advantage is best realised when approached with a clear understanding of local pricing and lifestyle choices.
In practical terms, everyday expenses, such as groceries, transport, and dining, are often a fraction of what you would pay in the UK. For example, a family meal at a local restaurant may cost £10–£20, whereas a similar experience in the UK could easily exceed £60. Likewise, domestic help, such as cleaners or nannies, is far more affordable, which can meaningfully improve quality of life.
To make the most of this cost advantage, I suggest:
Adopting a blended lifestyle: Combine local markets and services with selected imported goods rather than relying entirely on Western products, which are priced at a premium
Setting a realistic budget early: Factor in both local and expat-style spending to avoid underestimating costs
Monitoring lifestyle inflation: It is easy to overspend when services feel inexpensive
Ultimately, while Vietnam can be cost-effective, your actual savings will depend on how closely your lifestyle aligns with local norms rather than imported expectations.
2. A Growing Expat Infrastructure in Major Cities
Another compelling factor when moving to Vietnam with kids is the well-developed expat infrastructure, particularly in major urban centres such as Ho Chi Minh City and Hanoi. This infrastructure plays a crucial role in easing the transition for families.
Over recent years, Vietnam has seen a significant increase in international schools, private healthcare providers, and family-oriented services. As a result, expats now have access to:
International-standard hospitals and clinics
English-speaking professionals (doctors, teachers, service providers)
Established residential communities designed with families in mind
For example, areas such as Thao Dien in Ho Chi Minh City offer a concentration of international schools, supermarkets stocking imported goods, and child-friendly cafés and play centres. This creates a familiar environment that can help children—and parents—settle more quickly.
From a planning perspective:
Research neighbourhoods thoroughly before relocating
Prioritise proximity to schools and healthcare facilities
Join expat forums or local groups to gain first-hand insights
This growing infrastructure significantly reduces the friction often associated with international moves, making Vietnam a more accessible option for families.
3. Access to International Schooling
Education is often the deciding factor when families evaluate a move abroad. Fortunately, moving to Vietnam with kids does not mean compromising on educational standards, provided you plan early and budget accordingly.
Vietnam offers a wide range of international schools following British, International Baccalaureate (IB), and American curricula. This ensures continuity for children who may later return to the UK or move elsewhere.
However, it is important to approach school selection strategically:
Apply early: Waiting lists can be long, particularly for well-regarded schools
Visit schools (if possible): Either in person or virtually, to assess facilities and teaching quality
Understand total costs: International school tuition fees are only part of the picture, include registration, uniforms, and extracurriculars
For instance, a British curriculum school may provide a smoother transition for UK families, particularly for GCSE and A-Level pathways. On the other hand, IB programmes may offer broader international flexibility.
4. A High Quality of Life for Families with Younger Children
Finally, many families are drawn to Vietnam because of the lifestyle it offers, particularly for those with younger children. The combination of affordability, climate, and family-oriented amenities can create a highly enjoyable day-to-day experience.
Additionally:
Outdoor living is more accessible due to the warm climate
Weekend activities often include parks, cafés, and short regional trips
A slower pace of life in certain areas can reduce stress compared to the UK
To maximise this lifestyle benefit:
Choose accommodation with family-friendly features, such as outdoor space or access to shared facilities
Explore local activities early, helping children adapt and build routines
Balance comfort with cultural immersion, allowing your family to fully benefit from the experience
While Vietnam may not replicate every aspect of life in the UK, it offers something equally valuable, a different, often more flexible way of living that many families come to appreciate over time.
Cost of Living in Vietnam for Families
When moving to Vietnam with kids, it is important to recognise that monthly living costs can vary considerably depending on your family’s lifestyle, housing choices, and schooling arrangements.
Rather than relying on a single estimate, I find it far more useful to consider a range of typical family scenarios. This allows you to benchmark your own expectations more accurately and plan with greater confidence.
Below are several common family situations, each illustrating how costs may differ in practice.
1. Cost-Conscious Family Adopting a Local Lifestyle
For families willing to embrace a more local way of living, Vietnam can be exceptionally affordable. This approach typically involves living slightly outside expat-centric areas, shopping at local markets, and limiting reliance on imported goods.
In this scenario:
Rent (3-bedroom apartment outside prime expat districts): £600–£1,000
Utilities and internet: £80–£150
Groceries (primarily local produce): £250–£400
Transport (motorbike, taxis, ride-hailing apps): £80–£150
Dining and leisure (mostly local venues): £150–£300
Estimated total: £1,200–£2,000 per month (excluding school fees)
For example, a family might shop daily at local markets for fresh fruit, vegetables, and meat, significantly reducing grocery bills. Similarly, eating at local restaurants rather than Western-style venues can dramatically lower costs.
To successfully adopt this lifestyle:
Be open to cultural differences, particularly in food and shopping habits
Learn basic Vietnamese phrases, which can improve day-to-day interactions
Test different neighbourhoods before committing to long-term accommodation
This approach works particularly well for families with younger children who are not yet tied to specific schooling systems.
2. Mid-Range Expat Family (Balanced Lifestyle)
This is the most common scenario for UK families moving to Vietnam with kids. It combines elements of local living with selected Western conveniences, offering a comfortable yet financially sensible lifestyle.
In this case:
Rent (3-bedroom apartment in a popular expat area): £1,000–£1,800
Utilities and internet: £100–£200
Groceries (mix of local and imported goods): £400–£700
Transport (taxis, occasional private driver): £120–£250
Dining and leisure (mix of local and international venues): £250–£500
Estimated total: £1,800–£3,200 per month (excluding school fees)
For instance, a family may live in an area such as Thao Dien or Tay Ho, where access to international schools and amenities is convenient. They might shop at both local markets and international supermarkets, balancing cost and familiarity.
To manage this effectively:
Set a monthly discretionary budget, particularly for dining and imported goods
Track spending during the first 3–6 months, as habits adjust
Avoid overcommitting to premium services early on, until you understand local pricing
This balanced approach tends to offer the best combination of comfort, convenience, and cost control.
3. High-End Expat Family (Premium Lifestyle)
At the upper end of the spectrum, some families choose to replicate a Western standard of living as closely as possible. While still often cheaper than London or the South East, costs can rise significantly under this model.
Typical monthly expenses include:
Rent (villa or luxury apartment in prime expat district): £2,000–£4,000+
Utilities and internet (including air conditioning usage): £150–£300
Groceries (primarily imported goods): £700–£1,200
Transport (private driver or car ownership): £300–£600
Dining and leisure (international restaurants, clubs, activities): £500–£1,000
Estimated total: £3,500–£7,000+ per month (excluding school fees)
For example, a family might choose a villa with a private pool, employ full-time domestic staff, and rely heavily on imported foods and international brands. While this provides a high level of comfort, it reduces the cost advantage of living in Vietnam.
If considering this lifestyle:
Ensure your income or expat package supports it sustainably
Be mindful of currency fluctuations, which can significantly impact imported goods
Regularly review expenses, as costs can escalate quickly without oversight
This approach is often supported by corporate relocation packages, particularly where housing and schooling are subsidised.
4. Single-Income vs Dual-Income Families
Your income structure also plays a crucial role in shaping your monthly budget when moving to Vietnam with kids.
Single-income households should take a more conservative approach:
Prioritise affordability in housing
Build a larger emergency fund (ideally 9–12 months of expenses)
Carefully manage discretionary spending
Dual-income households, on the other hand, may have greater flexibility:
Ability to afford higher-end accommodation or schooling
Increased capacity for travel and leisure
More room for long-term investment contributions
For example, a dual-income family earning in foreign currency (such as GBP or USD) may find it easier to absorb rising costs, particularly for education.
In both cases:
Align your lifestyle with stable, predictable income rather than bonuses or variable earnings
Plan for contingencies, such as job changes or relocation
5. Families with Employer Support vs Self-Funded Expats
Finally, one of the most significant variables is whether your move is supported by an employer.
Employer-supported packages may include:
Housing allowances
School fee coverage
Health insurance
Relocation assistance
In this case, your out-of-pocket monthly expenses may be limited primarily to:
Groceries
Leisure
Personal travel
Conversely, self-funded expats must account for all costs independently, which requires more disciplined financial planning.
If you are self-funding:
Build a comprehensive budget before relocating
Stress-test your finances against worst-case scenarios (e.g. exchange rate changes, rising school fees)
Consider professional financial advice to structure your income and investments efficiently
School Fees in Vietnam: What to Expect
When moving to Vietnam with kids, school fees are often the single largest and most important financial consideration. While the cost of living may be lower than in the UK, international education can rival, or even exceed, private school fees back home.
Most expat families choose international schools to ensure continuity in language, curriculum, and academic standards. These schools typically offer British, IB (International Baccalaureate), or American programmes, and are concentrated in major cities such as Ho Chi Minh City and Hanoi.
As a starting point, typical annual fees are:
Nursery/Reception: £8,000–£12,000
Primary School: £12,000–£18,000
Secondary School: £15,000–£25,000+
In addition, you should budget for:
Registration and application fees: £1,000–£3,000 (often non-refundable)
Capital or development levies: £2,000–£10,000
Uniforms, transport, and extracurricular activities: £1,000–£3,000 annually
However, as with general living costs, the total financial impact of education varies significantly depending on your family’s circumstances.
Below, I have outlined how school fees interact with different family situations.
1. Cost-Conscious Family (Selective or Alternative Education Approach)
For families prioritising affordability, education requires particularly careful planning when moving to Vietnam with kids. While fully local public schools are rarely suitable for non-Vietnamese-speaking children, there are still ways to manage costs.
Some families consider:
Lower-cost international schools (fees at the lower end of the range)
Bilingual schools combining Vietnamese and international curricula
Temporary homeschooling or online schooling (in specific cases)
In this scenario, annual costs may look like:
Tuition fees: £8,000–£12,000 per child
Additional costs: £1,500–£3,000
Estimated total per child: £9,500–£15,000 per year
For example, a family with two young children might choose a more affordable international school during primary years, with a plan to transition later to a higher-tier institution.
To manage this effectively:
Research accreditation and curriculum quality carefully
Visit schools where possible, as lower cost does not always mean lower quality
Plan for future transitions, particularly at secondary level
This approach requires flexibility, but it can significantly reduce the overall financial burden in the early years.
2. Mid-Range Expat Family (Mainstream International Schools)
Most UK families moving to Vietnam with kids fall into this category. They prioritise established international schools that offer recognised curricula and a stable learning environment.
Typical annual costs per child:
Tuition fees: £12,000–£20,000
Additional costs: £2,000–£5,000
Estimated total per child: £14,000–£25,000 per year
For instance, a family may enrol their children in a British international school offering GCSEs and A-Levels, ensuring alignment with the UK education system. This can make future transitions, whether returning to the UK or moving elsewhere, much smoother.
To navigate this level of schooling:
Apply well in advance, as waiting lists are common
Clarify fee structures in detail, including annual increases
Factor in sibling discounts, where available
Additionally, it is wise to:
Project costs over multiple years, not just annually
Account for currency exposure, as many schools price fees in USD
This balanced approach provides educational continuity while maintaining a manageable financial structure.
3. High-End Expat Family (Premium International Schools)
At the top end, premium international schools offer world-class facilities, extensive extracurricular programmes, and globally recognised qualifications such as the full IB continuum.
In this case, annual costs can be substantial:
Tuition fees: £20,000–£30,000+ per child
Additional costs: £3,000–£8,000
Estimated total per child: £23,000–£38,000+ per year
For example, a family with two children in secondary school could face annual education costs exceeding £60,000. These schools often feature:
State-of-the-art campuses
Low student-to-teacher ratios
Extensive sports, arts, and language programmes
If considering this route:
Ensure long-term affordability, particularly if you have multiple children
Review fee escalation trends, as annual increases are common
Evaluate the return on investment, especially if your children may move between countries
This level of education is often chosen by families seeking the highest standards and global mobility, but it must be carefully aligned with your broader financial plan.
4. Single-Child vs Multiple-Child Families
The number of children you have will naturally amplify the financial impact of school fees when moving to Vietnam with kids.
For a single child, costs may be more manageable:
- Annual fees: £14,000–£25,000 (mid-range example)
However, for two or more children, costs scale quickly:
Two children: £28,000–£50,000+ per year
Three children: £42,000–£75,000+ per year
For example, a family with three children in international schools could easily exceed £60,000 annually, even at mid-range institutions.
To manage this:
Explore sibling discounts, though these are often modest
Stagger enrolment decisions, if children are at different stages
Integrate education costs into your long-term financial plan, rather than treating them as short-term expenses
This is one of the most critical areas where proactive planning can prevent financial strain.
5. Employer-Supported vs Self-Funded Education
Finally, the structure of your relocation package has a profound impact on how school fees affect your finances.
Employer-supported packages may include:
Full or partial coverage of tuition fees
Payment of registration and capital fees
Annual allowances for uniforms and transport
In such cases, the financial burden is significantly reduced, allowing families to prioritise school quality without the same cost constraints.
Conversely, self-funded families must absorb all education expenses directly. This requires a more disciplined and forward-looking approach.
If you are self-funding:
Build school fees into your core financial model from the outset
Stress-test affordability over a 5–10 year period
Consider setting aside dedicated education funds or investments
For example, allocating monthly contributions into an investment portfolio earmarked for education can help smooth the impact of large annual fees.
Healthcare and Insurance Costs
When moving to Vietnam with kids, healthcare is an area where careful planning is essential. While Vietnam offers a combination of public and private healthcare, most expat families rely heavily on private facilities to ensure international standards of care, shorter waiting times, and access to English-speaking medical professionals.
As a baseline, you can expect:
Private health insurance: £800–£2,500 per person annually
GP consultations: £30–£80 per visit
Specialist consultations: £50–£150 per visit
Emergency or hospital treatment: variable, but potentially significant without insurance
However, much like living costs and education, your overall healthcare expenditure will vary depending on your family structure, lifestyle, and level of coverage. Below, I have outlined how healthcare and insurance costs typically play out across different family situations.
1. Cost-Conscious Family (Basic Coverage with Selective Use of Private Care)
For families aiming to minimise costs, healthcare spending can be managed through a combination of basic insurance and selective use of private services.
In this scenario:
Basic international or local insurance plan: £800–£1,200 per adult annually (children slightly less)
Routine GP visits paid out-of-pocket
Limited coverage for outpatient services
Estimated annual healthcare cost (family of four): £3,000–£5,000
For example, a family may choose a lower-tier insurance policy that covers major hospitalisation but excludes routine check-ups. Day-to-day healthcare, such as minor illnesses, can then be paid directly, often at relatively low cost.
To manage this effectively:
Ensure your policy includes emergency and inpatient cover, even if outpatient care is excluded
Identify reputable private clinics in advance, particularly those with English-speaking staff
Keep a dedicated healthcare buffer fund for unexpected expenses
This approach can work well for generally healthy families, but it does introduce a degree of financial risk if more serious medical issues arise.
2. Mid-Range Expat Family (Comprehensive Standard Coverage)
This is the most common approach for UK families moving to Vietnam with kids. It strikes a balance between cost and peace of mind by providing comprehensive coverage across most medical needs.
Typical costs include:
Comprehensive international health insurance: £1,200–£2,000 per person annually
GP and specialist visits largely covered (depending on excess)
Access to a wide network of private hospitals and clinics
Estimated annual healthcare cost (family of four): £5,000–£8,000
For instance, a family may choose a well-established international insurer that offers direct billing with major hospitals in Ho Chi Minh City or Hanoi. This reduces the need to pay upfront and simplifies claims.
To optimise this level of cover:
Review policy exclusions carefully, particularly around pre-existing conditions
Select an appropriate excess level to balance premiums and out-of-pocket costs
Confirm whether dental and maternity cover are included or require add-ons
Additionally:
Keep digital and physical copies of your policy documents
Understand the claims process before you need it
This approach offers reassurance and predictability, which is particularly valuable when relocating with children.
3. High-End Expat Family (Premium Global Coverage with Full Flexibility)
At the upper end, some families opt for premium global health insurance plans that provide extensive coverage, including treatment in multiple countries and medical evacuation.
In this case:
Premium insurance plans: £2,000–£4,000+ per person annually
Full outpatient, dental, and maternity coverage
Access to top-tier hospitals both within Vietnam and internationally
Estimated annual healthcare cost (family of four): £8,000–£15,000+
For example, a family may choose a policy that allows treatment in Singapore or Bangkok for more complex procedures, with evacuation costs fully covered. This level of flexibility can be particularly important for families with specific medical concerns.
If considering this option:
Assess whether global coverage is necessary based on your circumstances
Compare insurers carefully, as benefits and limits can vary significantly
Ensure evacuation cover is clearly defined and sufficient
While this is the most expensive route, it offers the highest level of security and convenience.
4. Families with Young Children vs Older Children
The age of your children can also influence healthcare planning when moving to Vietnam with kids.
Families with younger children may face:
More frequent GP visits (e.g. for common illnesses or vaccinations)
Greater need for paediatric specialists
Higher likelihood of unexpected minor medical expenses
In contrast, families with older children may experience:
Fewer routine visits
Increased focus on sports-related injuries or specialised care
Potential need for mental health or counselling services
For example, a toddler attending nursery may require multiple doctor visits in their first year due to common infections, whereas a teenager may require less frequent but more specialised care.
To prepare accordingly:
Choose a policy with strong outpatient coverage for younger children
Ensure access to reputable paediatricians
Budget for incidental medical expenses, even with insurance
5. Employer-Supported vs Self-Funded Healthcare
As with schooling, whether your employer provides healthcare cover will significantly affect your financial exposure.
Employer-supported healthcare often includes:
Comprehensive insurance for the entire family
Direct billing arrangements with hospitals
Additional benefits such as dental or wellness programmes
In this scenario, your out-of-pocket costs may be minimal, limited primarily to policy excesses or non-covered treatments.
Conversely, self-funded families must take full responsibility for:
Selecting appropriate insurance
Paying premiums annually or monthly
Managing claims and reimbursements
If you are self-funding:
Do not delay arranging insurance before arrival, as gaps in coverage can be costly
Compare multiple providers, focusing on both cost and scope of cover
Factor insurance premiums into your fixed annual expenses
For example, spreading premiums monthly may ease cash flow, but paying annually can sometimes offer cost savings.
Housing Considerations for Families
For expat families, housing is all about convenience, safety, and lifestyle alignment. Access to international schools, healthcare, and family-friendly amenities should all factor into your decision.
Below, I have outlined how housing costs and considerations vary across different family situations.
1. Cost-Conscious Family (Local Neighbourhoods and Practical Living)
For families aiming to keep costs low, choosing accommodation outside of prime expat areas can offer substantial savings. This typically involves living in more local neighbourhoods, where rents are lower but amenities may be less tailored to international families.
In this scenario:
Rent (2–3 bedroom apartment in a local area): £500–£900 per month
Utilities and maintenance: £80–£150
Limited access to Western supermarkets and services
Estimated total housing cost: £600–£1,050 per month
For example, a family may choose an apartment slightly further from international school hubs, accepting a longer commute in exchange for lower rent. Properties may be more basic, but still comfortable and functional.
To make this arrangement work effectively:
Visit properties in person where possible, as quality can vary significantly
Assess commute times carefully, particularly during peak traffic hours
Check for essential features, such as reliable air conditioning and security
Additionally:
Consider proximity to local markets and transport links
Be prepared for cultural differences in building standards and management
This approach can deliver strong cost savings, but it requires flexibility and a willingness to adapt.
2. Mid-Range Expat Family (Balanced Location and Comfort)
Most UK families moving to Vietnam with kids opt for a balanced housing approach, prioritising convenience and comfort without moving into the premium price bracket.
Typically, this involves living in established expat areas such as Thao Dien (Ho Chi Minh City) or Tay Ho (Hanoi), where access to international schools and amenities is straightforward.
In this case:
Rent (3-bedroom apartment or townhouse): £1,000–£1,800 per month
Utilities and maintenance: £100–£200
Access to shared facilities (pool, gym, security)
Estimated total housing cost: £1,100–£2,000 per month
For instance, a family might choose a modern apartment complex with on-site security, a swimming pool, and communal play areas. These features can significantly enhance quality of life, particularly for younger children.
To optimise this option:
Prioritise proximity to your child’s school, reducing daily travel time
Negotiate lease terms, as flexibility is often possible in Vietnam
Clarify what is included in the rent, such as maintenance or management fees
Furthermore:
Inspect building amenities and safety features thoroughly
Speak to current tenants where possible, to understand real living conditions
This approach offers a practical balance between affordability and lifestyle quality.
3. High-End Expat Family (Villas and Premium Residences)
At the upper end of the market, families may choose villas or luxury apartments that closely replicate Western living standards. These properties are typically located in prime expat districts and offer extensive space and amenities.
In this scenario:
Rent (villa or luxury apartment): £2,000–£4,000+ per month
Utilities (including heavy air conditioning use): £150–£300
Additional costs for staff (cleaners, security, gardeners): £200–£600
Estimated total housing cost: £2,350–£4,900+ per month
For example, a family may rent a villa with multiple bedrooms, a private garden, and a swimming pool, ideal for entertaining and providing children with outdoor space.
If considering this level of housing:
Ensure long-term affordability, particularly if housing is self-funded
Review maintenance responsibilities, as villas may require more upkeep
Assess flood risk and infrastructure reliability, depending on location
Additionally:
Factor in staffing costs, which are common at this level
Evaluate security arrangements, particularly for standalone properties
This option delivers comfort and space but should be aligned carefully with your overall financial strategy.
4. Apartment Living vs Villa Living (Lifestyle Considerations)
When moving to Vietnam with kids, one key decision is whether to choose an apartment or a villa. Each has distinct advantages and trade-offs.
Apartments typically offer:
Enhanced security (gated buildings, reception, CCTV)
Shared amenities (pools, gyms, play areas)
Lower maintenance responsibility
Villas, on the other hand, provide:
More space and privacy
Outdoor areas (gardens, terraces)
Greater flexibility for families with multiple children
For example, a family with toddlers may prefer an apartment for its safety and convenience, while a family with older children may value the space and independence of a villa.
To decide between the two:
Consider your children’s ages and activity levels
Evaluate how much time you spend at home versus outside
Balance convenience against space and privacy
This decision is as much about lifestyle as it is about cost.
5. Employer-Supported Housing vs Self-Funded Rentals
Finally, whether your employer provides housing support will significantly influence your options when moving to Vietnam with kids.
Employer-supported housing may include:
Full rent coverage or a housing allowance
Assistance with property search and lease negotiation
Coverage of deposits and agent fees
In this case, families often have greater flexibility to choose premium properties without direct financial strain.
Conversely, self-funded families must manage all housing costs independently.
If you are self-funding:
Set a clear housing budget before beginning your search
Avoid overcommitting to rent, even if properties appear affordable compared to the UK
Account for upfront costs, such as deposits (typically 1–3 months’ rent)
For example, paying £1,500 per month in rent may seem reasonable, but over a year this equates to £18,000, before utilities and maintenance.
To manage this effectively:
Align housing costs with your long-term financial goals
Review your lease annually, renegotiating where possible
Financial Planning Tips for UK Expats
This is where a structured approach becomes essential. Moving to Vietnam with kids is not just about managing monthly expenses, it’s about aligning your finances with long-term goals.
1. Maintain a UK Financial Base
When moving to Vietnam with kids, one of the most prudent steps you can take is to maintain a solid financial foothold in the UK. While it may be tempting to fully transition your finances overseas, doing so can limit your flexibility in the future, particularly if you plan to return to the UK or relocate again.
Keeping UK bank accounts open ensures continuity in managing existing financial commitments such as mortgages, subscriptions, or investments. Moreover, maintaining your UK credit profile can be invaluable if you intend to apply for credit, remortgage property, or re-establish yourself financially upon return.
From a practical standpoint, I typically advise clients to:
Retain at least one active UK current account and savings account
Keep UK-based credit cards active (with occasional use to maintain credit history)
Maintain correspondence addresses where necessary (for banking and HMRC)
For example, a family who closes all UK accounts may later face administrative challenges when attempting to re-enter the UK property market. By contrast, those who maintain a financial presence can transition far more smoothly.
In addition, if you have existing investments or pensions in the UK, it is important not to neglect them. These should remain aligned with your long-term objectives, even while you are living abroad. A fragmented financial structure is one of the most common pitfalls I see among expats, and it is entirely avoidable with early planning.
2. Understand Your Tax Position
Taxation is one of the more complex aspects of moving to Vietnam with kids, and it is an area where professional advice is not simply helpful, it is essential. Your tax obligations will depend on your residency status, income sources, and the structure of your employment.
Upon leaving the UK, you may become non-UK resident for tax purposes, which can significantly change how your income is taxed. However, this is not automatic and must be assessed under the Statutory Residence Test. At the same time, Vietnam operates its own income tax system, with progressive rates that can reach up to 35%.
This creates several important considerations. For instance, if not structured correctly, you could face:
Double taxation on the same income
Unexpected liabilities due to misclassified residency status
Compliance risks in both jurisdictions
To navigate this effectively:
Seek advice before relocating, not after
Clarify how your employment income will be taxed in Vietnam
Review any UK-based income streams (e.g. rental income, dividends)
For example, a UK expat earning in Vietnam but retaining UK rental property must understand how both tax systems interact. While tax treaties exist, they do not eliminate the need for careful planning.
Ultimately, clarity around your tax position allows you to structure your finances efficiently and avoid costly surprises.
3. Plan for Education Early
As discussed earlier, education is often the largest expense when moving to Vietnam with kids. What is equally important, however, is the timing of your planning. Families who delay factoring in school fees often find themselves under financial pressure later.
A proactive approach involves not only understanding current fees, but also projecting how these costs will evolve over time. International school fees tend to increase annually, and when combined with currency fluctuations, the long-term cost can be substantial.
To illustrate, consider a family with two children entering primary school:
Annual fees of £15,000 per child equate to £30,000 per year
Over 10 years, this could exceed £300,000—before inflation and fee increases
With this in mind, I recommend:
Building a multi-year education cost projection
Setting aside funds specifically for school fees
Considering investment strategies to support future payments
For example, rather than relying solely on monthly income, some families choose to invest regularly into a portfolio earmarked for education. This can help smooth the financial impact and reduce reliance on fluctuating income.
Additionally, where employer support is available, it is important to fully understand the scope and duration of that support, as it may not cover the entire schooling period.
4. Build an Emergency Fund
Relocating internationally introduces a range of uncertainties, and when moving to Vietnam with kids, these uncertainties are amplified. An emergency fund is therefore not optional, it is a fundamental component of your financial plan.
This fund should be designed to cover unexpected events such as:
Medical emergencies not fully covered by insurance
Sudden relocation or repatriation costs
Temporary loss of income
Unplanned education or housing expenses
As a guideline, I typically recommend holding:
- At least 6–12 months of living expenses in accessible funds
For example, if your monthly expenditure is £3,000, your emergency fund should ideally range between £18,000 and £36,000.
Equally important is where these funds are held. Consider:
Maintaining part of the fund in GBP for stability
Holding a portion in local or accessible currency for immediate use
This ensures both security and liquidity.
While setting aside this level of capital may seem demanding, it provides a critical safety net that allows you to navigate challenges without disrupting your long-term financial strategy.
5. Invest with a Global Perspective
Finally, when moving to Vietnam with kids, your investment strategy should evolve to reflect your international lifestyle. Remaining overly focused on a single country, whether the UK or Vietnam, can expose you to unnecessary risk.
A globally diversified investment approach allows you to:
Spread risk across different markets and economies
Reduce exposure to any single currency
Align investments with long-term goals such as education and retirement
For example, a well-structured portfolio might include:
Global equities for long-term growth
Fixed income assets for stability
Multi-currency holdings to manage exchange rate exposure
In addition, expats may have access to offshore investment structures that offer flexibility and, in some cases, tax efficiency. However, these must be approached carefully and tailored to your specific circumstances.
From a practical perspective:
Review your existing investments before relocating
Avoid leaving portfolios unmanaged or misaligned with your goals
Seek advice to ensure your strategy reflects your expat status
It is also worth noting that your time horizon plays a key role. Education planning may require medium-term investments, whereas retirement planning typically involves a longer-term outlook.
In my experience, the most successful expat families are those who treat investing not as a separate activity, but as an integrated part of their overall financial plan. By doing so, they are able to support both their immediate lifestyle abroad and their future ambitions with confidence.
How Benjamin Sharvell IFA Support Families Moving Abroad
Relocating your family is a major step, and having a clear financial strategy in place can make all the difference.
In my role as a Senior Adviser and Professional Financial Planner, I work with expat families to provide:
Future Planning
This forms the foundation of your financial strategy, ensuring your long-term goals remain on track despite the complexities of living abroad.
Retirement Planning: I help you structure contributions and investments so that your retirement goals remain achievable, regardless of where you work or reside.
Education Fee Planning: With international school fees being a major expense, I design funding strategies to ensure costs are met without disrupting your broader financial position.
Pension Planning: I review and optimise your pension arrangements across jurisdictions, ensuring they remain tax-efficient and aligned with your long-term plans.
Succession Planning: I help you organise your assets and estate to ensure wealth is passed on efficiently and according to your wishes, even across multiple countries.
Savings Solutions
Effective saving is not just about setting money aside, it’s about doing so in a structured, tax-efficient manner that supports your future plans.
Regular Savings: I establish disciplined monthly investment strategies to build wealth steadily over time.
Lump Sum Solutions: For larger amounts, I advise on how to deploy capital effectively to maximise growth while managing risk.
Foreign Exchange: I help you manage currency exposure, reducing the impact of exchange rate fluctuations on your income and savings.
Offshore Banking: I guide you in setting up suitable international banking structures to improve flexibility, access, and tax efficiency.
Pension Solutions
Working abroad presents both opportunities and challenges for retirement planning. I ensure your pension arrangements are fully optimised.
UK Pensions: I help you maintain, consolidate, or restructure existing UK pensions to suit your expat status.
Swiss Pensions: For those with Swiss exposure, I provide guidance on integrating these into your broader retirement plan.
Irish and European Pensions: I advise on cross-border pension options that may offer flexibility and tax advantages.
SIPP (Self-Invested Personal Pension): I assist in setting up and managing SIPPs for greater control and investment choice.
QROPS: I evaluate whether transferring to a Qualifying Recognised Overseas Pension Scheme is suitable for your situation.
QNUPS: For high-net-worth individuals, I explore advanced pension structures for inheritance and tax planning.
Property Solutions
Property can play an important role in wealth building, but it must be approached strategically, particularly when living overseas.
Property Investments: I identify opportunities that align with your financial goals while managing risk and liquidity.
UK Mortgages: I assist expats in securing or refinancing UK property, navigating lender requirements specific to overseas applicants.
International Mortgages: I provide guidance on financing property abroad, ensuring terms are suitable and sustainable.
Insurance Solutions
Protecting your family and your assets is a critical part of any financial plan, especially when living in a foreign country.
Health Insurance: I help you secure comprehensive international cover, ensuring access to high-quality healthcare wherever you are.
Life Insurance: I structure policies that provide financial security for your family in the event of unforeseen circumstances, aligned with your overall financial plan.
My approach is pragmatic and collaborative. Every family’s situation is different, and I focus on building tailored strategies that align with your goals, both now and in the future.
A Strategic Approach to Moving Abroad
Moving to Vietnam with kids can be an incredibly rewarding experience, both culturally and financially, if approached with careful planning.
As someone who works closely with expat families, I’ve seen how the right financial framework can turn a good move into a truly successful one.
With the right preparation, Vietnam can offer not just a new home, but a meaningful step towards your broader life and financial goals.
Get in touch with us today for a free consultation!