To facilitate living and working, many foreigners have chosen to buy houses in Vietnam. So, LSX Lawfirm will give you an article about: “Necessary and sufficient conditions to buy a house in Vietnam”, as follows:
Legal grounds
Law on Housing 2014
Decree No. 99/2015/ND-CP
Necessary and sufficient conditions to buy a house in Vietnam
Conditions for foreign individuals and organizations to buy and own houses in Vietnam are specified by law in the Law on Housing 2014. Specifically in Article 5, Decree 99/2015/ND-CP stipulates that conditions for foreigners to buy houses in Vietnam.
Firstly, when buying a house, a foreign individual must have a valid passport and an entry verification stamp of the State management agency.
In addition, if it is a foreign organization, it must be eligible for recognition of house ownership in Vietnam. At the same time, have an investment registration certificate or a document approved by a competent Vietnamese agency for operation that is still valid at the time of signing the housing transactions.
Secondly, oreigners buying houses in Vietnam have documents proving their conditions to buy and own houses in Vietnam. Foreign individuals must have a permanent residence card or a temporary residence card in Vietnam. These documents are issued by the immigration authority with a term of 12 months or more. In addition, foreigners buying houses are not eligible for diplomatic and consular privileges and immunities under the Ordinance of the National Assembly Standing Committee.
Issuance of Certificate to house owner in Vietnam
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Related article:
What should foreigners pay attention to when buying a house in Vietnam?
Procedures for renting houses for foreigners in Vietnam
Firstly
Every domestic organization, household, individual, overseas Vietnamese citizens, foreign organization and individual that has documents proving the lawful establishment of housing as prescribe that the Law on Housing, regulations of law on real estate trading, and relevant regulations of law (including housing invested under construction planning approved that competent authorities in the projects mentioned in Clause 2 Article 17 of the Law on Housing), and documents proving their eligibility to own housing prescribed in Article 5 of this Article shall grant the Certificate of ownership of such house.
In case a Vietnamese citizen residing overseas that they do not allow to enter Vietnam and receives or inherits housing in Vietnam, he/she will not have the house ownership recognized and has to follow the regulations in Clause 2 through 5 of Article 78 of Decree No. 99/2015/ND-CP.
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Secondly
With regard to detached houses with two stories or more, each of which has two separate apartments or more (with separate rooms, kitchens, bathrooms), the floor area of each apartment is 30 m2 or larger, and the house satisfy conditions of apartment buildings prescribed in Clause 2 Article 46 of the Law on Housing, each apartment will grant a separate Certificate. In case the owner sells, lease under a lease-purchase agreement, gift, or bequeath his/her apartment to another organization; household, or individual that is eligible to own housing in Vietnam; the land use right associated with this housing shall be shared by the entities that have purchased, leased under a lease-purchase agreement, received; or inherited the apartments.
Thirdly
Apart from the information on the Certificate prescribed by regulations of law on land; the Certificate issuer must write the following information:
a) Information about the house.
b) Duration of house ownership; the right to sell; gift, bequeath, contribute the house as capital of the buyer according to the time-limited house purchase contract.
c) In case of purchase of social housing prescribed in Clause 4 and Clause 5 Article 62 of the Law on Housing; the time limit for the owner to sell such social housing must be specified.
Finally
Procedures for issuing the Certificate to the owner must comply with regulations of law on land. The investor in the housing construction project has the responsibility to follow procedures for obtaining the Certificates for buyers and buyers/tenants of housing. In case a buyer or buyer/tenant wishes to follow the procedures themselves; the investor must provide documents related to the house to the buyer or buyer/tenant.
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Authority to issue land recovery decisions?
Pursuant to Article 66 of the 2013 Land Law, the authority to issue recovery decisions prescribed as follows:
People’s Committees of provinces and centrally run cities (provincial People’s Committees)
Provincial-level People’s Committees shall decide to withdraw in the following cases:
Withdrawal from organizations, religious establishments; overseas Vietnamese; foreign organizations with diplomatic functions, foreign-invested enterprises, except for cases where residential land is recovered from people. Overseas Vietnamese are allowed to own houses in Vietnam.
To recover agricultural land belonging to the public land fund of communes, wards and townships.
People’s Committees of districts, towns, provincial cities (District People’s Committees)
The district-level People’s Committee shall decide to withdraw in the following cases:
Recovery of land from households, individuals and communities;
Recovery of residential land of overseas Vietnamese who are entitled to own houses in Vietnam.
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