The development of Vietnam over the past 30 years is remarkable. Economic and political reforms since 1986 have promoted economic development. Significantly, the number of foreigners in Vietnam is increasing day by day; leading to a sharp increase in their demand for housing. Could foreigners get their names on the “Red Book” in Vietnam?
Let us find out with LSX Law firm through the article about this article below.
Land Law 2013
Housing Law 2014
Decree 43/2014/ND-CP guiding the implementation of the Land Law
Decree 99/2015/ND-CP guiding the 2014 housing law
What is “Red Book” in Vietnam?
In fact, “Red Book” is the word that people often used to call the “Certificate of land use rights”; based on the color of the certificate; The land law has no concept of “Red Book” and “Pink Book.”
Particularly, Clause 16, Article 3 of the 2013 Land Law states:
“A certificate of land use rights and ownership of houses and other land-attached assets is a legal document for the State to certify land use rights and ownership of houses and other land-attached assets. lawful rights of people with land use rights, house ownership and other property rights on the land.”
Who are considered foreigners in Vietnam?
To clarify, foreigners include: foreigners residing in Vietnam; and foreigners who do not reside in Vietnam.
According to Clause 5, Article 3 of the Law on Nationality; foreigners residing in Vietnam are foreign citizens; and stateless persons permanently or temporarily residing in Vietnam.
What are rights for foreigners to get their names on the “Red book” in Vietnam?
According to Article 5 of the 2013 Land Law:
The State allocates land users’ land, leases land; recognizes land use rights, receives proper land use transfer.
Besides, under paragraph 3 of Article 186 of the Land Law; all heirs of land use rights, ownership of houses; and other assets attached to land are foreigners who are not supplied Red Book but transferred or donated the inherited land use right.
Accordingly, foreigners in the country or abroad are not eligible for land use rights. The State does not recognize land use rights for foreigners. With land-use rights, foreigners must not have their names on the Red Book.
Foreigners for the right to get their names on the “Red Book” in Vietnam
Clause 1, Article 159 of the Law on Housing clearly states:
Firstly, foreigners invest in building houses under projects in Vietnam.
In addition, foreign individuals are allowed to enter Vietnam.
Accordingly, the forms of foreign individuals allowed to own houses in Vietnam include:
– Invest in building houses according to projects in Vietnam.
Moreover, purchase, lease-purchase, donation, or inheritance of commercial housing; including apartments and separate houses in housing construction investment projects; except for areas ensuring national defense and security
For foreigners to own houses in Vietnam, the specific provisions of Article 74 of Decree 99/2015/ND-CP include:
A valid passport with an entry verification stamp of the Vietnam exit and entry management agency.
Furthermore, foreigners are not entitled to diplomatic privileges and immunities.
Finally, hope this article is helpful for you!
Foreigners can only buy and be named in the Red Book for apartments and individual houses in the investment projects of housing construction, not to be bought from outside this area and meet the conditions of the law.
1. Domestic organizations, households, and individuals.
2. Vietnamese residing abroad.
3. Foreign organizations and individuals specified in Clause 1, Article 159 of the Law on Housing 2014.