Foreigners who have legal rights to buy houses in Vietnam, The Law on property was issued by the National Assembly of Vietnam and see how?
The Law on property was issued by the National Assembly of Vietnam on 2014. One of the highlight features is the separate chapter on home-ownership of foreign organizations and foreigners in Vietnam. In other words, foreigners now have legal rights to buy houses in Vietnam. The law provides detailed regulations on entities who have rights to buy houses in Vietnam, as well as their conditions, rights and obligations. Base on the huge demand of foreigners and to help them buy houses in the fastest, easiest and the most economical way.
Foreign entities (organizations and individuals) eligible for home-ownership in Vietnam:
Foreigners who are allowed to enter Vietnam.
Conditions for home-ownership, rights and obligations of foreign entities when owing houses in Vietnam:
Notice: For foreign enterprises, branches and representative offices of foreign enterprises, foreign investment funds and branches of foreign banks which are operating in Vietnam and foreigners buying houses in Vietnam, they must complying with the following regulations:
They are not allowed to buy, purchase and rent, receive, inherit for more than 30% of apartments in an apartment building or no more than 250 separate houses including villas, row houses in an area whose population is equivalent to a ward-administrative division;
If a foreigner eligible for home-ownership as agreed in sale agreements, lease and purchase agreements, gifting agreements or inherit agreements, his/her home-ownership duration is no more than 50 years from the day on which he/she is granted the Certificate of Home-ownership. The duration must be shown on the Certificate of Home-ownership and shall be extended if needed as prescribed by the Government;
If a foreigner marriage to a Vietnamese citizen or a Vietnamese living overseas, he/she shall be eligible for stable and long-term home-ownership in Vietnam and has rights of home-owners similar to Vietnamese citizens;
Foreign organizations eligible for home-ownership as agreed in sale agreements, lease and purchase agreements, gifting agreements or inherit agreements but their ownership duration shall not be longer than the duration of the Certificate of Investment Registration, including the extension. The ownership duration shall be shown on the Certificate of Home-ownership and be determined from the date of issue.