Hello Lawyer X, I’m Tom Smith, British nationality. I plan to set up a branch representative office in Vietnam. So can I own a house here and through any form. Please advise me. Sincerely thank! So, LSX Lawfirm will give you an article about: “Forms of the homeownership in Vietnam for foreigner”, as follows:
Law on Housing 2014
Decree No. 99/2015/ND-CP
Decree No. 30/2021/ND-CP
Foreign entities eligible for the homeownership in Vietnam
Firstly, Foreign entities who invest in project-based housing construction in Vietnam.
Secondly, Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam.
Thirdly, Foreign individuals who are allowed to enter Vietnam.
So, if you are an investor in Vietnam and have a plan to set up a branch representative office in there, you are a property owner in Vietnam.
Forms of the homeownership in Vietnam for foreigner
Firstly, invest in project-based housing construction in Vietnam.
Secondly, buy, rent and purchase, receive, or inherit commercial housing including apartments and separate houses in the project for housing construction, except for areas under management relating to national defense and security as prescribed in regulations of the Government.
In which: (About foreign entities eligible for the homeownership in Vietnam)
Foreign entities may only own houses (including apartments and detached houses) of commercial housing construction projects, except for those in areas having national defense and security requirements prescribed by Vietnam’s regulations of law.
The Ministry of National Defense and the Ministry of Public Security shall specify the areas having national defense and security requirements in each province and send a written notification to the People’s Committee of the province to provide the basis for directing the Department of Construction to compile a list of commercial housing construction projects in the province whose houses may own for foreign entities.
Related questions about “Forms of the homeownership in Vietnam for foreigner”
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. Then it is related to foreign entities eligible for the homeownership 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.