FOREIGNERS ARE ALLOWED TO OWN HOUSE IN VIETNAM FROM 01/7/2015

• Housing Law 2014 took effect on 01/7/2015, allow the foreign organizations and individuals to own house in Vietnam. Lawyer in Nhatrang would like to provide some of provision of the law to the foreign organizations and individuals buy house in Vietnam.

  
  1. Object of foreigners are allowed to own house in Vietnam
  – The foreign organizations and individuals to perform construction investment on project in Vietnam under provisions of Housing Law and related legal documents;
  – Enterprise has a foreign investment capital, branch and representative office of foreign enterprise, foreign investment funds and branch of foreign banks operating in Vietnam (hereafter referred to foreign organizations);
  – Foreign individuals are allowed entry into Vietnam.
  2. Own house forms of foreigner in Vietnam
  – Housing construction investment on project in Vietnam under provisions of Housing Law and related legal documents;
  – Buy, hire purchase, donation, inherit commercial house include: apartment and separate house in housing construction project except the housing construction project in the area of ensuring national defense and security on provision of Vietnam Government.
  So, the provision of foreigners are allowed to bought and owned house as above that made convenient condition for foreigners to invest and live in Vietnam.
  3. Condition of foreigner buy house in Vietnam
  • The individuals, organizations to perform housing construction investment on project in Vietnam must satisfy the following conditions:
   Have an Investment Certificate;
   Have a house that constructed in project under provision of law on housing.
  • Enterprise has a foreign investment capital, branch and representative office of foreign enterprise, foreign investment funds and branch of foreign bank operating in Vietnam must satisfy the following conditions: have an Investment Certificate or documents related to operating in Vietnam (hereafter referred to Investment Certificate) that issued by the Competent State agency.
  • To foreign individuals buy house in Vietnam: Be allowed to entry into Vietnam and not be eligible for privilege, exemption of diplomatic and consular under provision of the law.
  • Enterprise has a foreign investment capital, branch and representative office of foreign enterprise, foreign investment funds and branch of foreign bank operating in Vietnam and foreign individuals buy house in Vietnam only own house in cases of: Only buy, hire purchase, donation, inherit and own not exceed 30% of number of apartment in an apartment building; if that is separate house include villa, adjacent house, will only buy, hire purchase, donation, inherit and own not exceed 250 houses on an area with a population equivalent of a ward-level administrative unit.
  4. Time limit of owning house
  • To foreign individuals: will be owned house under agreement in transactions: contract of sale, hire purchase, donation, inherit house but not exceed 50 years from the date of Certificate issuing and can extension under provision of Government if has demand; the time limit of owning must be stated clearly in Certificate.
  • Foreign individual marry with Vietnamese citizen or marry with Vietnamese live in oversea will be owned house stable, lasting and have rights of owner as Vietnamese citizen.
  • Foreign organizations will be owned house under agreement in transactions: contract of sale, hire purchase, donation, inherit house but not exceed the time limit stated in Investment Certificate, include extension time; the time limit calculated from the date of issuing Certificate and stated clearly in Certificate.

  Lawyer in Nha Trang