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Conditions for foreigners buying houses in Viet Nam.

Published 25-10-18 on 03:10

Conditions for foreigners buying houses in Viet Nam.

Housing law allows foreigners to own houses in Viet Nam.  However, it depends on the specific case as well as How many percentage of the ownership is specified in the law. So, what is the condition for foreigners to own houses in Vietnam? This article will share with you.

1. Domestic organizations include state agencies, people's armed forces units, political organizations, socio-political organizations, economic organizations, socio-political organizations and professional organizations. Associations, socio-professional organizations, public non-business organizations and other organizations according to the civil law (referred collectively to as organizations);

 2. Households and individuals in the country (referred to as households and individuals);

 3. A population community is a community of Vietnamese living in the same village residential quarter, residential quarter and similar residential area with the same customs and family.

 4. Religious establishments include pagodas, churches, chapels, shrines, mosques, Buddhist monasteries, monasteries, religious training schools, religious organizations and other religious establishments.

5. Foreign organizations with diplomatic functions, including diplomatic missions, consulates, and other foreign diplomatic missions recognized by the Vietnamese Government; representative offices of organizations of the United Nations, inter-governmental agencies or organizations and representative offices of inter-governmental organizations;

 6. Vietnamese residing overseas in accordance with the law on nationality;

 7. Foreign-invested enterprises include enterprises with 100% foreign capital investment, joint-venture enterprises and Vietnamese enterprises, where foreign investors purchase shares, merge or acquire them according to investment law.

 Thus, according to the above regulations, foreigners only have the right to own houses under two forms of investment in building houses under projects in Vietnam according to the provisions of this Law and relevant laws; Purchase, hire purchase, donation or inheritance of commercial houses, including condominiums and detached houses in investment projects on construction of dwelling houses, except for areas for defense and security maintenance according to Government regulations.

Proof of eligibility for foreigners to own houses in Vietnam

1. For foreign individuals, there must be valid passports with verification stamps of Vietnamese immigration management agencies and not entitled to diplomatic privileges or immunities under the provisions of the Ordinance on Privileges and Immunities of Diplomatic Missions, Consulates and Representative Offices of International Organizations at Vietnam."

 Clause 2, Article 76 of the Government's Decree No. 99/2015 / ND-CP of October 20th 2015 detailing and guiding the implementation of a number of the Housing Law articles "Foreign organizations and individuals Owners of houses in Vietnam shall only be permitted to buy or hire purchase houses from projects investor on construction of dwelling houses or purchase of dwelling houses of foreign organizations and individuals specified at Point b, Clause 4, Article 7. of this Decree and shall only be entitled to bequeathed or donated to houses of households or individuals or donated to organizations' dwelling houses in the number of dwelling houses specified in Clauses 3 and 4 of this Article. Investment projects on the dwelling houses constructions are allowed to be owned, in cases where foreign organizations and individuals are donated or inherited houses in Vietnam but not owned by them the houses in Vietnam shall be dealt with in accordance with Article 78 of this Decree. "

Thus, foreigners are entitled to buy, hire, donate or inherit commercial houses, including condominiums and separate houses in dwelling houses construction investment projects, except for national security zone, security according to the Government's regulations. Foreign organizations and individuals may be  own no more than 30% of the total number of apartments of an apartment building; In cases where there is a population equivalent to a ward administrative unit with many apartment buildings for sale or lease, foreign organizations and individuals may be  own no more than 30% of the total apartments project.

 

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