Can overseas Vietnamese buy houses in Vietnam permanently? Whether overseas Vietnamese can buy a house permanently in Vietnam is a question that many have wondered. Let’s find out in this article with LSX Law firm.
- Law on Housing 2014
- Decree 99/2015/ND-CP;
Can overseas Vietnamese buy a house in Vietnam?
Before going into the main content, perhaps we need to clarify the concept of “Overseas Vietnamese” mentioned in this article.
“Overseas Vietnamese” in this article is a person of Vietnamese origin, maybe one or more generations ago was Vietnamese but now does not have Vietnamese nationality. In some cases, they have a certificate of Vietnamese origin issued by the local consulate. Nowadays, many overseas Vietnamese want to buy houses to return to their homeland and be close to their families. The state’s legal policies are creating more favorable conditions and overseas Vietnamese have the right to meet this demand.
Depending on each specific case, there will be overseas Vietnamese’s able to buy houses permanently. But there are also some cases where buying a house for overseas Vietnamese will be the same as for foreigners. In such cases, foreign individuals will only be able to buy houses and land in Vietnam with a use period of 50 years as prescribed in Article 7 of Decree 99/2015/ND-CP:
3. Foreign individuals specified at Point c, Clause 1, Article 159 of the Law on Housing may own houses for a maximum of 50 years from the date of issuance of the Certificate. Upon the expiration of the house ownership term stated in the Certificate, if the owner wishes to extend it, the State shall consider and extend it further.
Can overseas Vietnamese buy a house permanently in Vietnam?
Buying a house here permanently is the purchase of a house or apartment; with a certificate of use right by the state (pink book) with a period of use: long-term. In certain cases, overseas Vietnamese can still own houses permanently like ordinary Vietnamese citizens.
In case overseas Vietnamese can buy permanent houses in Vietnam
Before December 10, 2015, the purchase of houses for overseas Vietnamese was greatly restricted. Therefore, many people have had to buy houses directly with investors or other foreigners in housing projects that have a policy of selling to foreigners but are not free to buy and sell like ordinary Vietnamese citizens.
After December 10, 2015, Decree 99/2015/ND-CP came into effect and has more diversified forms of house purchase for overseas Vietnamese, whereby you can prove that Their Vietnamese origin can buy a house similar to the policy of residents in Vietnam. This regulation is concretized in Clause 2, Article 5 of Decree 99/2015/ND-CP:
Article 5. Papers proving the subjects are eligible to own houses
1. For organizations, households, and individuals, When carrying out procedures for issuance of a Certificate of land use rights and ownership of houses and other land-attached assets (hereinafter referred to as Certificates), there must be papers identifying the subjects’ identities according to regulations. regulations on the issuance of certificates of land law.
2. For overseas Vietnamese, the necessary documents include:
a) In case you own a Vietnamese passport, it must be valid and stamped with the entry verification stamp of the Immigration agencies
b) In case you own a foreign passport, it must be valid, stamped with the entry verification stamp of the Immigration agencies of Vietnam in the passport, enclosed with papers proving their Vietnamese nationality or other documents. And the Certification of being of Vietnamese origin, issued by the Department of Justice of the provinces and centrally-run cities, overseas Vietnamese representative missions, overseas Vietnamese management agencies, or other documents as prescribed by Vietnamese law.
The key issue of buying a permanent house in Vietnam is having Vietnamese nationality or having a certificate of Vietnamese origin from a management agency
In case overseas Vietnamese can’t buy a house permanently in Vietnam
When overseas Vietnamese do not prove or do not have a certificate of Vietnamese origin; they can’t apply for the procedures above. At that time, the policy will apply to you as if you were a foreigner without Vietnamese nationality. And your right to buy and sell would be greatly restricted. The limitation may be that the ownership period is only 50 years. Additionally, you are not free to buy a house in the desired area. And, you have to follow the project with the target of selling to foreigners. Therefore, many overseas Vietnamese have had to ask for help from Vietnamese to buy the house on their behalf; but this leads to many disputes later.
This is a common way of bypassing the law of overseas Vietnamese when they cannot register to use the land after buying it. They will ask their relatives to own the house on their behalf. Asking someone else to own a household is a civil transaction without a legal corridor. Basically, the person in the name of the household will be the owner of the land. Of course, such a household name will generate many risks of property disputes. Therefore, it is necessary to consult a lawyer to avoid losing the land.
To ensure and be protected by Vietnamese law, you should follow the procedure to return to Vietnamese nationality. Having a certificate of Vietnamese origin will be a basis to make the procedure easier.
Hope this article is helpful for you to know what to answer the question: Can overseas Vietnamese buy houses in Vietnam permanently? If you need any further information, please contact LSX Law Firm: 0833102102