Can foreigners buy apartments from Vietnamese individuals?
Chinhphu.vn – Mr. Bui Ngoc Anh (Ho Chi Minh City) asked authorities to answer some of the provisions of the law on the ownership of houses in Vietnam by foreign individuals. Mr. Ngoc Anh asked, in which case foreigners can receive the transfer of apartments from individuals? If the transfer is received, what is the procedure? If a foreigner is issued a 50-year-owning red book, will the land be extended for 50 years? If not extended, what is the term of the foreigner who owns real estate for 50 years? In addition, if a foreigner uses the flat for the 10th year and wants to transfer to another foreigner, will the new person continue to own 50 more years or only be in possession of the remaining 40 years? For foreigners doing long-term lease with investors, is there a pink book? If this individual has been using the apartment for 6 years and wants to transfer the apartment to another foreign individual, how many years will the new transferee own the apartment?
The Ministry of Construction responds to this issue as follows: Under the provisions in Clause 2, Article 76 of the Government’s Decree No. 99/2015 / ND-CP of October 20, 2015 detailing and guiding the implementation of a number of articles of the Housing Law, “Foreign organizations and individuals eligible to own houses in Vietnam shall only be permitted to buy or hire purchase of dwelling houses of the investor of a project on construction of dwelling houses or purchase of residential housing from foreign organizations or individuals. at Point b, Clause 4, Article 7 of this Decree, and only bequeathed or donated to houses of households or individuals or donated to organizations’ dwelling houses according to the provisions of Clause 3, Clause 4 of this Article in investment projects on the construction of dwelling houses which are permitted to be owned; In cases where foreign organizations and individuals are donated or inherited houses in Vietnam but are not eligible to own houses in Vietnam, such cases shall be settled under the provisions of Article 78 of this Decree.”
In complying with this provision, foreigners who are permitted to own houses in Vietnam shall only be permitted to purchase residential houses under investment projects on construction of dwelling houses of the investors of commercial-house projects which this project It is not in the area of security and defense or may only purchase dwelling houses of foreign organizations and individuals that own houses and wish to resell such houses before the expiry of their dwelling houses, Foreigners can buy apartments from individuals who are Vietnamese.
The procedures for conducting housing transactions shall comply with the provisions of Article 120 of the Housing Law of 2014. Duration of house ownership of foreigners upon transfer According to the provisions of Point c, Clause 2, Article 161 of the Housing Act 2014: “For foreign individuals, they shall be entitled to own houses as agreed upon in contracts on purchase, sale, lease or inheritance contracts. but must not exceed 50 years, counting from the date of being granted the certificate and may be further extended according to the Government’s regulations if so requested. The term of the house ownership must be clearly stated in the certificate. ” The extension of the house ownership duration in Vietnam of foreigners shall comply with the provisions of Article 77 of Decree No. 99/2015 / ND-CP. In case of expiration of the house ownership term, if the owner does not apply for an extension of time, or does not sell or donate this house to the objects owned by the house in Vietnam, the house shall be owned by the State. (Point dd, Clause 2, Article 161 of the Housing Act 2014).
According to the provisions in Point b, Clause 4, Article 7 of Decree No. 99/2015 / ND-CP, foreigners who are in the period of being permitted to own houses in Vietnam wish to sell or donate their houses to For foreigners who are permitted to own houses in Vietnam, the purchasers and / or donors shall only be allowed to own them for the remaining duration; Upon the expiration of the remaining ownership duration, the owner wishes to extend the extension, he / she shall be considered for extension by the State according to the provisions of Article 77 of this Decree.
The law on house and land law only provides for the granting of land use right certificates and the ownership of other assets attached to land to foreigners if such subjects are owned and qualified. Owning a house in Vietnam through buying or renting a house does not provide for the issuance of a certificate to a foreign individual who has rented a flat for a period of time with the investor. The rights and obligations of foreign individuals renting houses to investors shall comply with the agreements in house-renting contracts. In cases where foreign individuals wish to lease such houses, the consent of the house lessor (the investor) must be obtained.