Whether foreigners are allowed to buy apartments of Vietnamese individuals is a matter of great concern to foreigners as well as Vietnamese individuals nowadays due to the increasing number of foreigners living and working in our country. many should give rise to the need to own apartment to live in Vietnam. Therefore, the following article, LSX Law firm will advise readers on the about foreigners buy apartments of Vietnamese individuals.
Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam 2014
Law on Nationality 2008
Can foreigners buy apartments in Vietnam?
Pursuant to Clause 1, Article 159 of the 2014 Housing Law; foreign organizations and individuals that are allowed to own houses in Vietnam include:
- Foreign organizations and individuals investing in construction of houses under projects in Vietnam in accordance with the Law on Housing and relevant laws.
- Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam
- Foreign individuals are allowed to enter Vietnam and do not has right to diplomatic; and consular privileges and immunities as prescribed by law
Forms of foreigners has right to own apartment in Vietnam
Accordingly Clause 2, Article 159 of the Law on Housing 2014, foreign organizations and individuals may own houses in Vietnam through the following forms:
– Investment in housing construction under projects in Vietnam in accordance with the Law on Housing 2014 and relevant laws;
– Buy, rent-purchase, receive as a gift or inherit commercial houses, including apartments and separate houses in housing construction investment projects, except for areas ensuring national defense and security according to regulations.
Taxes, fees and charges when foreigners buy houses in Vietnam
When buying and owning a house in Vietnam, foreigners must bear the following taxes, fees and charges:
- Land use fees;
- Value Added Tax (VAT): 10% of the selling price. When buying a house, your friend needs to ask whether the selling price includes value-added tax or not. If not, you will have to add VAT.
- Fees for cadastral mapping and services, administrative fees, measurement fees, etc.
Thus, through the above article, we have clarified the issue of whether foreigners can buy apartments of Vietnamese individuals. If you have any further questions or need advise on land-related procedures, please contact LSX Law firm for dedicated support: 0833102102
Foreigners buy houses in the following cases:
– Firstly, only buy, rent-purchase houses of housing construction project owners;
– Secondly, buying houses of foreigners;
– Lastly, only receive houses as gifts from households and individuals, and houses as gifts from organizations.
1. Domestic organizations, households and individuals.
2. Vietnamese residing abroad.
3. Foreign organizations and individuals specified in Clause 1, Article 159 of this Law