The Law on Housing 2014 stipulates that foreigners can not buy real estate in Vietnam, but they can still own houses but must follow legal procedures. Let’s find out this issue Foreigners buy or own real estate in Vietnam with LSX Law firrm.
Legal grounds
Law on Housing 2014
Case foreigners have right to buy house in Viet Nam
Accordingly, Article 159 of the Law on Housing 2014 on the issue of buying (owning) houses stipulates that foreigners has right to own houses in Vietnam, including:
– Foreign organizations and individuals investing in housing construction under projects in Vietnam accordingly this Law and relevant laws.
– Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam (hereinafter collectively referred to as foreign organizations outside)
– Foreign individuals are allowed to enter Vietnam.
Besides, the Law also mentions that foreigners can only own houses in Vietnam through one of the following forms:
– Investment in housing construction under projects in Vietnam accordingly this Law and relevant laws.
– Buy, rent-purchase, receive as a gift or inherit commercial housing including apartments and separate houses in housing construction investment projects, except for areas ensuring national defense and security accordingly regulations of the Government.
Transfer of land use rights
Accordingly the regulations, foreigners who want to buy houses in Vietnam; are only allowed to buy houses; (including apartments and separate houses) in investment projects to build commercial houses.
Regarding the transfer of land use rights: Pursuant to the provisions of Articles 5 and 169 of the Land Law 2013, foreigners are not eligible for land allocation, land lease or recognition of land use rights by the State receive land use rights in Vietnam.
Therefore, foreigners can not to receive the transfer of land use rights (actual or called land purchase) in Vietnam.
If you have any questions; please contact Lawyer X for quick and best legal services: 0833102102.
Related questions
The form of rent-purchase of a house means that the lessee pays in advance to the lessor to buy 20% of the value of the house; unless the lessee has prepayment conditions; the payment shall not exceed 50%;
The remaining amount to be paid shall be calculated into house rent to be paid monthly to the lessor for a certain period of time;
After the lease-purchase period expires and when the remaining amount has been paid; the lessee has the right to own the house.
Conclusion: So the above is Foreigners can buy or own real estate under Vietnamese Law. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
