Today, LSX Lawfirm will give you an article about: “Entities eligible for the homeownership recognition 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.
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Procedures for renting houses for foreigners in Vietnam
Entities eligible for the homeownership recognition in Vietnam
Documents proving eligible house owners
1. Every domestic organization, household, or individual that applies for the Certificate of rights to use land, ownership of land and property on land (hereinafter referred to as Certificate) must submit ID documents according to regulations on issuance of certificates.
2. The applicant being a Vietnamese citizen residing overseas must submit the following documents:
a) An unexpired Vietnamese passport that bears the entry seal of a Vietnam’s immigration authority; or
b) An unexpired foreign passport that bears the entry seal of a Vietnam’s immigration authority together with documents proving the Vietnamese nationality or Vietnamese heritage issued by the Department of Justice of a province, an overseas Vietnam’s diplomatic mission, or an authority in charge of management of overseas Vietnamese citizens, or other documents prescribed by Vietnam’s law.
So, it related to entities eligible for the homeownership recognition in Vietnam
3. The applicant being a foreign organization or individual must submit documents proving their eligibility according to Article 74 of this Decree. In case a foreign individual submits documents proving his/her Vietnamese heritage, he/she has to choose between policies applied to Vietnamese citizens residing overseas and policies applied to foreigners to determine his/her house ownership in Vietnam.
Entities having legitimate housing through following transactions
a) Firstly, Vietnamese entities who invest in housing construction, purchase, enter into lease purchase agreements, receive gifts, receive inheritance, receive capital contribution, exchange houses, or make other transactions prescribed in regulations of law .
b) Secondly, overseas Vietnamese who enter into agreements on commercial housing purchase, lease purchase with enterprises or cooperatives conducting real estate trading (hereinafter referred to as real estate enterprise); agreements on housing purchase, gifting, exchange, inheritance with households or individuals; agreements on residential land transfer in the project on commercial housing construction which is permitted to divide the piece of land into smaller lots/plots for sales as prescribed.
c) Thirdly, Foreign entities who enter into agreements as prescribed in Clause 2 Article 159 of this Law.
Related questions about entities eligible for the homeownership recognition in Vietnam
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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