The legal of foreigners buying houses in Vietnam

Vietnam is becoming more and more deeply integrated into the world. The real estate market is no exception. With many advantages in climate, geography, landscape and history, Vietnam has attracted a lot of attention from foreigners who want to buy houses. So, what is the legal basis for foreigners to buy houses in Vietnam?

Tư vấn người nước ngoài mua nha ở tại Việt Nam
Tư vấn người nước ngoài mua nha ở tại Việt Nam

The legal basis for the details of foreigners buying houses in Vietnam is the Housing Law 2014 and Decree 99/2015 / ND-CP detailing and guiding the implementation of the Housing Law.
According to Clause 1, Article 159 of the 2014 Housing Law, foreign individuals and organizations that own houses in Vietnam include:

  • Foreign organizations and individuals investing in construction of houses under projects in Vietnam in accordance with this law and relevant laws.
  • Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam (hereinafter referred collectively to as foreign organizations) ).
  • Foreign individuals are allowed to enter Vietnam.

Foreign organizations and individuals own houses in Vietnam through the following forms (According to Clause 2, Article 159 of the Law on Housing 2014)

  • Investment in housing construction under projects in Vietnam in accordance with this law and relevant laws.
  • Purchase, hire-purchase, donation, inheritance of commercial houses, including condominium apartments and detached houses, in investment projects on housing construction, except areas that ensure national defense and security according to the Government’s regulations covered.

Conditions for foreign organizations and individuals to buy houses in Vietnam

  • Foreign organizations and individuals investing in construction of houses under projects in Vietnam must have investment certificates and have houses built in the projects according to the provisions of this Law and relevant laws. Quan.
  •  For foreign organizations, they must have investment certificates or papers related to being permitted to operate in Vietnam (collectively referred to as investment certificates), granted by competent Vietnamese state agencies. .
  • For foreign individuals, they must be allowed to enter Vietnam and not be entitled to diplomatic or consular privileges and immunities according to the provisions of law. Foreign individuals must have a valid passport with a stamp of entry verification of the Vietnam Immigration Department (Clause 1, Article 74 of Decree 99/2015 / ND-CP). Foreign individuals must have full civil act capacity to conduct housing transactions in accordance with Vietnamese law, not required to have temporary residence registration or permanent residence registration where the houses are available. transactions (Point b, Clause 2, Article 119 of the 2014 Law on Housing).

Number of houses that foreign organizations and individuals own houses in Vietnam

The number of houses owned by foreign organizations and individuals in Vietnam is specified in Article 76 of Decree No. 99/2015 / ND-CP:

  • Foreign organizations and individuals may own no more than 30% of the total number of apartments of an apartment building; In case an area has a population equal to a ward-level administrative unit and has many apartment buildings for sale or lease, foreign organizations and individuals may own no more than 30% of the apartments of the city. each apartment building and not more than 30% of the total number of apartments of all these apartment buildings.
  • In cases where there is a population equivalent to a ward-level administrative unit that has an investment project on construction of commercial houses, including separate houses for sale or lease, foreign organizations and individuals own the number of separate houses according to the following provisions:
    In case there is only one project with a number of separate houses of less than 2,500 houses, foreign organizations and individuals may own no more than 10% of the total number of houses in that project;
    – In case there is only one project with the number of separate houses equivalent to 2,500 houses, foreign organizations and individuals may own no more than 250 apartments;
    – In case there are two or more projects where the total number of separate houses in these projects is less than or equal to 2,500 units, foreign organizations and individuals may own no more than 10% of the dwelling houses of each project. judgment.

Cases where foreign organizations and individuals are not recognized house ownership in Vietnam

  • Foreign organizations and individuals that are donated or inherit houses in areas not owned as prescribed in Article 75 of Decree No. 99/2015 / ND-CP (Foreigners can only own houses in investment projects on construction of commercial houses outside the area of ​​national defense and security) or in excess of the number of houses permitted to be owned under the provisions of Clauses 3 and 4, Article 76 of Decree No. 99/2015 / ND -CP.
  • Foreign organizations not operating in Vietnam, foreign individuals are not allowed to enter Vietnam but are given away or inherited houses in Vietnam.

In case a foreign individual or organization is donated or inherited in Vietnam but is not eligible for house ownership in Vietnam mentioned above, it shall be settled in accordance with Article 78 of Decree 99/2015 / ND -CP as follows:

  • Foreign organizations and individuals that are donated or inherited in Vietnam but are not entitled to own or exceed the number of houses permitted to own may directly or authorize others to sell them. or donate to houses.
  • Foreign organizations not operating in Vietnam, foreign individuals who are not allowed to enter Vietnam but are given away or inherited houses in Vietnam may authorize other individuals and organizations currently residing in Vietnam. , operating in Vietnam selling or giving away houses.

Rights and duration of house ownership of foreign organizations and individuals

  • Foreign organizations and individuals investing in construction of houses under projects in Vietnam may exercise the rights of house owners according to the provisions of Article 10 of this Law; In case of construction of houses on leased land, they may only lease houses.
  • For foreign organizations and individuals (not belonging to the group of foreign organizations and individuals investing in the construction of houses in Vietnam), they have the same ownership rights as Vietnamese citizens but must not exceed 50 years from the first the date of issuance of the Certificate and may be extended according to the Government’s regulations if required; house ownership term must be clearly stated in the certificate.
  • If a foreigner marries a Vietnamese citizen or a Vietnamese residing overseas, he / she is entitled to own a stable and long-term home, and has the rights of homeowner like Vietnamese citizen.
  • For foreign organizations, they may own according to agreements in house purchase, sale, lease-purchase, donation or inheritance contracts, but must not exceed the time limit stated in the investment certificates. for that organization, including the extended term. The house ownership duration is counted from the date the organization is granted the certificate and stated in this certificate.

Obligations of homeowners are foreign individuals and organizations

Foreign organizations and individuals owning houses in Vietnam have the same obligations as Vietnamese citizens but must comply with the following provisions:

  • Foreign individuals are allowed to rent houses that are not banned by law, but before the lease, there must be a document sent to the district management agency in accordance with the regulations of the Minister of Construction and must pay taxes from this leasing activity in accordance provisions of law.
  • In case an individual marries a Vietnamese citizen, he / she has the same obligations as a Vietnamese citizen.
  • For owners being foreign organizations, only houses may be allocated to people who are working at such organizations, not houses for lease, offices or for other purposes. .
  • Make payment for buying, renting houses through credit institutions operating in Vietnam.

INVESTMENT LAND CO. LTD

Real Estate Investment Consulting

9th Floor, One Opera Building, 115 Nguyen Van Linh, Nam Duong Ward, Hai Chau District, Da Nang City

Hotline: 0902.848.440 (ZALO, VIBER)

Email: Info@investmentland.com.vn

Website: Investmentland.com.vn

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