Legal basis
- Vietnamese Law on housing 2014
- Decree 99/2015/ND – CP
Foreign entities eligible for the homeownership in Vietnam
According to Article 159.1 of Vietnamese Law on housing 2014, foreign entities eligible for the homeownership in Vietnam include:
- Foreign entities who invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;
- Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam (hereinafter referred to as foreign organization);
- Foreign individuals who are allowed to enter Vietnam.
Consequently, to buy a house in Vietnam you have to either invest in project-based housing construction in Vietnam or are allowed to enter Vietnam.
If you intend to invest in project-based housing construction, the requirements are:
- Investment certificate
- Have houses which are built under a project as prescribed in Law on housing
If you are an individual who wants to buy a house in Vietnam, the requirements are:
- Having a permission to enter Vietnam and don’t have diplomatic immunity and privileges as prescribed.
Forms of the homeownership in Vietnam
- Invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;
- Buy, rent and purchase, receive, or inherit commercial housing including apartments and separate houses in the project for housing construction, except for areas under management relating to national defense and security as prescribed in regulations of the Government.
Rights and obligations of foreign entities as homeowners
Foreign entities who invest in project-based housing construction in Vietnam is entitled to exercise rights of homeowners as prescribed in Article 10 of Law on housing, if his/her house is built on a piece of leased land, he/she is only entitled to lease that house.
Foreign individuals who are allowed to enter Vietnam is entitled to exercise rights of homeowners similarly to Vietnam citizens provided that he/she comply with following regulations:
- He/She may not buy, rent and purchase, receive, inherit and own more than 30% of apartments in an apartment building; or more than 250 houses regarding separate houses including villas, row houses in an area whose population is equivalent to a ward-administrative division.
- The foreign individuals are eligible for the homeownership as agreed in agreements on housing sale, lease purchase, gifting, or inheritance for not more than 50 years, from the day on which they are granted the Certificate and they may be also granted extension as prescribed in regulations of the Government; the duration of the homeownership must be stated in the Certificate.
- If a foreign individual marries to a Vietnamese citizen or an oversea Vietnamese, he/she qualifies for stable and long-term homeownership and has all rights of homeowner similarly to Vietnamese citizens
The foreign organization are eligible for the homeownership as agreed in agreements on housing sale, lease purchase, gifting, or inheritance for not longer than duration stated in their Certificate of investment, including extension duration, the duration of the homeownership shall be determined from the day on which the organization is granted the Certificate and stated in such Certificate.
Above is our advice on the issue. If you need more detailed advice as well as how to access this service, please contact Lawyer – Mr. Nguyen Duc Trong directly via hotline: 0912.35.65.75, 0912.35.53.53 or call Free Consultancy Center 1900.6575 or send a service request via email: info@hongbanglawfirm.com
We wish you and your family good health, peace and success!
Best regards!
Hong Bang Law Firm.
