Many foreigners want to know how to live in Vietnam. Not only Vietnam is an ideal destination; but also a place where many investors do business and cooperate successfully. Here LSX Lawfirm would like to introduce you to the article: “Legal regulations to foreigners own houses in Vietnam”, as follows:
Law on Housing 2014
Foreigners own houses in Vietnam?
According to the law; the subjects who are allowed to own houses in Vietnam include:
- Firstly; Domestic organizations, households and individuals.
- Secondly; Vietnamese people residing abroad.
- Thirdly; Foreign organizations and individuals.
According to the above regulations; the law allow foreign (organizations and individuals) to own houses in Vietnam; but only the following subjects:
- Firstly; foreigners invest in construction of houses under projects in Vietnam; in accordance with the provisions of the Law on Housing 2014; and relevant laws.
- Secondly; oreigners invest enterprises; branches; representative offices of foreign enterprises; foreign investment funds; and also foreign bank branches operating in Vietnam (collectively referred to as foreign organizations).
- Thirdly; the law allow foreign individuals to enter Vietnam.
Conditions for foreigners own houses in Vietnam
For foreign organizations and individuals investing in housing construction under projects in Vietnam; then they must have an investment certificate; and have houses built in the project.
The law allow foreign individuals to enter Vietnam; then allow to enter Vietnam. They are not entitled to diplomatic; and consular privileges and immunities as prescribed by law.
According to Clause 2, Article 159 of the Law on Housing 2014, foreigners are allowed to own houses in Vietnam through the following forms:
+ Firstly; Investment in housing construction under projects in Vietnam.
+ Secondly; Foreign organizations and individuals may only own houses (including apartment buildings and separate houses) in commercial housing construction investment projects; except for areas ensuring national defense and security according to regulations provisions of Vietnamese law.
Contact LSX Lawfirm
Hope this article “Legal regulations to foreigners own houses in Vietnam” is useful for you.