Regulations on foreigners owning real estate in Vietnam are regulated in Civil Code 2015, Law on Land 2013, Law on Housing 2014, Decree no. 99/2015/ND- CP on guidlines the Law on Housing and related documents.
For land, foreign
individuals are not eligible to use land assigned or leased by the State,
recognized land use rights, received transfer of land use rights. However, a
foreign-invested enterprise could be allocated or leased land by the State,
recognized land use rights, or received a land use right transfer.
Foreign-invested enterprises that are assigned land by the State with the
collection of land use levies to execute investment projects on the
construction of houses for sale or for sale in combination with lease.
For housing, 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.
The foreign entities are
eligible for the homeownership in Vietnam if they invest in project-based
housing construction in Vietnam as prescribed in this Law and corresponding
regulations of law; or 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.
Foreign organizations
and individuals must have documents proving being the eligible subjects and
meeting conditions to own houses in Vietnam. A foreign individual must have an
unexpired passport bearing the entry seal of the Vietnam’s immigration
authority and not given diplomatic immunity and privileges according to
Ordinance on diplomatic immunity and privileges of diplomatic missions,
consular offices, and representative authorities of international organizations
in Vietnam. Foreign organizations must be subjects of owning houses in Vietnam
which have investment registration certificate or a permission issued by a
Vietnam’s competent authority for operation in Vietnam which is still unexpired
at the time of housing transaction (hereinafter referred to as investment
registration certificate).
A foreign entity shall
not be granted a Certificate of the house and may only sell or offer it to
another entity eligible to own housing in Vietnam in the case being: a foreign
organization or individual receives a house as an inheritance or a gift which
is located in an area in which foreign entities must not own houses, or the
quantity of which exceeds the permissible limits; a foreign organization that does
not operate in Vietnam, or a foreign individual who is not permitted to enter
Vietnam, receives a house in Vietnam as a gift or an inheritance.
For specific situations,
to avoid future dispute in house ownership arisen from the purchase, lease of
property, house, land from the state, developer or other seller, or lessor it
is important that the client check with property lawyers for eligibility,
conditions and other relevant matters.
ANT
Lawyers - a Law firm in Vietnam with
international standard, local expertise and strong international network. We
focus on customers’ needs and provide clients with a high quality legal advice
and services. For advice or serive request, please contact us via email
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