Foreigners has right to buy houses in Vietnam, but in order to buy houses, they must meet certain conditions. Below is an article about the conditions for foreigners to buy houses in Vietnam from LSX Law firm.
Legal grounds
Law on housing 2014
Decree 99/2015/ND-CP guiding the Law on Housing
Can foreigners buy houses in Vietnam?
Accordingly Clause 1, Article 159 of the Law on Housing 2014 , foreign organizations and individuals may own houses in Vietnam, including:
– Foreign organizations and individuals investing in housing construction under projects in Vietnam accordingly the Law on Housing and relevant laws.
– Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign investment funds and branches of foreign banks operating in Vietnam (referred to as organizations).
– Foreign individuals are allowed to enter Vietnam.
Foreigners are allowed to own houses in Vietnam; through the following 02 groups of forms:
– Investment in housing construction under projects in Vietnam;
– Buy, rent-purchase, receive as a gift or inherit commercial housing including apartments and separate houses in housing construction investment projects, except for areas ensuring national defense and security accordingly government regulations.
Conditions for foreigners to buy houses in Vietnam
Accordingly Article 74 of Decree 99/2015/ND-CP guiding the Law on Housing , foreigners who belong to the above subjects have the right to buy houses in Vietnam, but to buy houses, they must have proofs. Specifically:
Case 1: Conditions with the organization
Organizations must have an investment certificate; or documents related to has permission to operate in Vietnam; issued by a competent Vietnamese state agency; which is still valid at the time of signing the house purchase or lease purchase contract live.
Case 2: Conditions for individuals
Foreign individuals must meet the following 02 conditions:
– Firstly, having a valid passport bearing the entry verification stamp of the Vietnam Immigration Department;
– Secondly, not subject to diplomatic privileges and immunities.
Above are the subjects and conditions for foreigners to buy houses in Vietnam. Accordingly, foreigners has permission to buy houses in housing construction investment projects and must satisfy all conditions on a case-by-case basis.
If you have any questions; please contact Lawyer X for quick and best legal services: 0833102102.
Related questions
The form of rent-purchase of a house means that the lessee pays in advance to the lessor to buy 20% of the value of the house; unless the lessee has prepayment conditions; the payment shall not exceed 50%;
The remaining amount to be paid shall be calculated into house rent to be paid monthly to the lessor for a certain period of time;
After the lease-purchase period expires and when the remaining amount has been paid; the lessee has the right to own the house.
Conclusion: So the above is Conditions for foreigners to buy houses in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
