On November 25, 2014 the National Assembly of the Socialist Republic of Vietnam adopted the Housing Act 2014. One of the most striking new features of the Housing Act 2014 is the provision of a separate chapter on housing ownership. in Vietnam by foreign organizations or individuals in Vietnam (in other words, foreigners are entitled to buy houses in Vietnam). Under the Housing Act 2014, detailed regulations on foreigners buying houses, conditions of foreigners buying houses and rights of foreigners buying houses in Vietnam. Considering the needs of foreigners in the procedure of owning houses in Vietnam and helping foreigners buy houses in Vietnam conveniently and quickly, saving the law. Package for foreigners buying houses in Vietnam.
Objects of foreigners (foreign organizations and individuals) that own houses in Vietnam:
• Foreign organizations and individuals investing in building houses under the project in Vietnam in accordance with the Housing Law and related legal documents;
• Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign investment funds and branches of foreign banks operating in Vietnam (hereinafter referred collectively to as water organizations) out);
• Foreign individuals are allowed to enter Vietnam.
The form of owning houses of foreigners in Vietnam
• Investment in building houses under the project in Vietnam according to the provisions of the Housing Law and relevant laws;
• Purchase, hire purchase, donation, inheritance of commercial houses, including apartment and individual housing in investment projects to build houses. (Except for housing projects in the area of national defense and security in accordance with the regulations of the Government of Vietnam).
Conditions and rights and obligations of foreigners buying houses in Vietnam
For individuals and organizations investing in the construction of houses under projects in Vietnam when owning houses in Vietnam, the following conditions must be satisfied:
• Have an investment certificate
• Having houses built under the project in accordance with the housing law
For foreign organizations being foreign-invested enterprises, branches and representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam when buying houses In Vietnam, the following conditions must be satisfied:
• Having an investment certificate or a paper related to the permission to operate in Vietnam (hereinafter referred to as investment certificate) issued by a competent Vietnamese state agency.
For foreigners buying houses in Vietnam:
• They are allowed to enter Vietnam and are not entitled to diplomatic or consular privileges or immunities according to the provisions of law.
For foreign organizations being foreign-invested enterprises, branches and representative offices of foreign enterprises, foreign investment funds and foreign banks’ branches operating in Vietnam and individuals Foreigners buying houses in Vietnam are only allowed to own houses when:
• Only buy, hire, donate, inherit, and own no more than 30% of the total number of units in an apartment building; If a separate dwelling house consists of villas and adjoining houses, in an area with a population equivalent to a ward-level administrative unit, it can only buy, hire, donate, inherit and own no more than two hundred and fifty houses;
• For foreign individuals, they shall be permitted to own houses as agreed upon in contracts of purchase, sale, hire purchase or donation for the inheritance of houses but must not exceed 50 years as from the date they are granted the certificates. received 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;
• In cases where a foreign individual marries a Vietnamese citizen or marries a Vietnamese residing overseas, he / she shall be allowed to own a stable and permanent house and have the rights of the owner of the house as citizen. Vietnam;
• For foreign organizations, they shall be permitted to own houses as agreed upon in contracts of purchase, sale, hire purchase, donation or inheritance of houses, which, however, must not exceed the time limit stated in the initial certificates. including the duration of the extension; The duration of the house ownership shall be calculated from the date the organization is granted the certificate and stated in the certificate.