Currently, in Vietnam, it is attracting a lot of foreigners to live, work and invest in the long term. Therefore, the demand for renting and buying apartments in the real estate market is increasing day by day and this brings a lot of profit to investors who rent apartments and houses. However, real estate investors should also understand the processes and laws so that the rental and sale of apartments and houses for foreigners can go smoothly and quickly. So about the matter “Procedure for transferring apartments of foreigners in Vietnam” Ley’s find out with LSX in the article below.
Legal grounds:
- Land Law 2013
- Civil Code 2015
- Housing Law 2014
- Decree No. 99/2015/ND-CP
Who are foreigners?
“Foreigner” means a person carrying a document identifying foreign nationality; and stateless persons entering, exiting, transiting and residing in Vietnam (Clause 1, Article 3 of the Law on entry, exit, transit and residence of foreigners in Vietnam).
“Foreign nationality” means the nationality of another country; is not a Vietnamese nationality (Clause 1, Article 3 of the Law on Nationality 2008). Papers determining foreign nationality are papers issued by competent agencies of foreign countries or the United Nations, including passports or papers with passport value (hereinafter referred to as passports). 2 Article 3 Law on entry, exit, transit and residence of foreigners in Vietnam).
Stateless persons entering, exiting or transiting in Vietnam are persons without Vietnamese nationality; and also has no foreign nationality (Clause 2, Article 3 of the Nationality Law 2008). A stateless person is defined by: “A document valid for international travel is a document issued by a competent authority of a country to a stateless person residing in that country and issued by a competent authority in that country. Vietnam’s right to approve.” (Clause 3, Article 3 of the Law on entry, exit, transit and residence of foreigners in Vietnam).
Procedure for transferring apartments of foreigners in Vietnam
First: Conditions for transfer or donation of houses to foreigners.
According to Clause 8, Article 79 of Decree No. 99/2015/ND-CP dated October 20, 2015 of the Government detailing and guiding the implementation of a number of articles of the Law on Housing, organizations and individuals are strictly prohibited. Foreigners buy houses for resale for business purposes.
If they no longer need to use them, they may resold such houses according to the provisions of Clause 4, Article 7 of Decree No. 99/2015/ND-CP, specifically:
“4. In case a foreign organization or individual sells or donates the house before the expiration of the time limit for owning a house, the buyer or recipient may own the house according to the following provisions:
a) In case of selling or donating a house to a domestic organization, household or individual, or Vietnamese residing overseas, the buyer or recipient may own a house on a stable and long-term basis;
b) In case of selling or donating a house to a foreign organization or individual eligible to own a house in Vietnam, the buyer or the donor may only own the house for the remaining term; when the remaining ownership term expires, if the owner wishes to extend it further, the State shall consider and extend it further according to the provisions of Article 77 of this Decree;
c) The seller or the donor of the house must pay taxes and financial obligations to the State of Vietnam in accordance with Vietnamese law.”
Accordingly, the term of house ownership depends on the object of housing purchase.
– In case of selling a house to a domestic organization, household or individual, or an overseas Vietnamese, the buyer may own a house in a stable and long-term manner.
– In case the house is sold to a foreign organization or individual eligible to own a house in Vietnam, the buyer may only own the house for the remaining term; When the remaining ownership term expires, if the owner wishes to extend it further, the State shall consider and extend it further according to the provisions of Article 77 of this Decree.
Second: Percentage of houses for foreigners who are eligible to own houses in Vietnam.
According to the provisions of Clause 2, Article 76 of Decree No. 99/2015/ND-CP dated October 20, 2015 of the Government detailing and guiding the implementation of a number of articles of the Law on Housing, “Organizations, individuals Foreign individuals eligible to own houses in Vietnam may only buy, lease-purchase houses from investors in housing construction projects or purchase houses from foreign organizations and individuals specified at Point b, Clause 1 of this Article. 4, Article 7 of this Decree and may only inherit, receive as a gift for houses of households and individuals or receive as gifts for houses of organizations out of the number of houses specified in Clauses 3 and 4. This is in the housing construction investment projects are allowed to own; In case a foreign organization or individual is gifted or inherited a house in Vietnam but is not eligible to own a house in Vietnam, the settlement shall comply with the provisions of Article 78 of this Decree.
Compared with the above regulations, foreigners are only allowed to buy houses from investors of housing projects that are not in the national security assurance area or buy houses from foreign organizations and individuals. have already owned houses in Vietnam. Decree No. 99/2015/ND-CP does not stipulate that foreigners can buy apartments from Vietnamese individuals.
Specifically, the rights of house owners being foreign individuals are specified in Article 161 of Decree 99/2015/ND-CP as follows:
“Article 161. Rights of house owners being foreign organizations and individuals
1. Foreign organizations and individuals defined at Point a, Clause 1, Article 159 of this Law may exercise the rights of house owners as prescribed in Article 10 of this Law; In case of building houses on leased land, they are only entitled to rent houses.
2. Foreign organizations and individuals defined at Points b and c, Clause 1, Article 159 of this Law have the same rights of house owners as Vietnamese citizens but must comply with the following provisions:
a) Only buy, rent-purchase, receive as gifts, inherit and own no more than 30% of the number of apartments in an apartment building; if it is a separate house, including villas and adjacent houses, in an area with a population equivalent to a ward-level administrative unit, only buy, rent-purchase, receive as a gift, inherit and own no more than two hundred and fifty houses.
In case there are many apartment buildings in an area with a population equivalent to a ward-level administrative unit, or for separate houses on a street, the Government shall specify the number of apartments, the number of apartments and the number of apartments. separate houses that foreign organizations and individuals may buy, rent-purchase, receive as gifts, inherit and own;
b) In case of being gifted or inherited a house that is not specified at Point b, Clause 2, Article 159 of this Law, or exceeds the number of houses specified at Point a of this Clause, only the value of such house shall be enjoyed;
c) For foreign individuals, they may own houses as agreed upon in contracts for purchase, sale, lease-purchase, donation or inheritance, but for a maximum of 50 years from the date of issuance of the Certificate of Inheritance certification and can be extended according to the Government’s regulations if required; The term of house ownership must be clearly stated in the Certificate.
In case a foreign individual marries a Vietnamese citizen or marries a Vietnamese residing abroad, he/she is entitled to own a stable and long-term house and has the same rights of a house owner as a Vietnamese citizen. Male;
d) For foreign organizations, they may own houses as agreed upon in contracts for purchase, sale, lease purchase, donation or inheritance of houses, but not exceeding the time limit stated in the Certificate of Inheritance. the investment granted to that organization, including for an extended period; the house ownership period is counted from the date the organization is granted the Certificate and is clearly stated in this Certificate;
dd) Before the expiration of the house ownership period as prescribed in this Law, the owner may donate or sell this house to subjects eligible to own houses in Vietnam; If past the time limit for house ownership, the owner does not sell or donate the house, that house shall be owned by the State.”
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Frequently asked questions
Foreigners who buy houses in Vietnam in their names must also have the following documents:
Investment Certificate or Investment Registration Certificate in Vietnam.
Valid passport and stamped entry verification of the immigration management agency of Vietnam; Resident card; temporary residence card; certificate of permission to reside in Vietnam for 12 months or more.
Foreigners are allowed to own houses in Vietnam in the following two groups:
– Investing in housing construction in projects in Vietnam;
Purchase, lease-purchase, gift or inheritance of commercial real estate that is apartments or separate houses in housing construction investment projects, except for areas with defense and security functions as prescribed. government.
According to the General Statistics Office, the average monthly income per capita for the whole country in 2014 was 2,637,000 VND, preliminary calculation in 2016 was 3,049,000 VND. Per capita expenditure per month for the whole country in 2014 was 1,888,000 VND, in 2016 it was 2,157,000 VND. Thus, on average, a person can accumulate 749,000 VND in 2014 and 892,000 VND in 2016. Meanwhile, according to a World Bank study, if the construction profit margin of the If the housing business is 10-11%, the commercial housing price will be about 12 million VND/m2. At the end of 2014, Vietnam had about 15.8 million people working in urban areas. Among industrial workers, about 78% have to rent a house and there is a great need for housing for them. The gap between the average accumulation rate and the commercial housing price is very long, which means that the opportunity for this group of workers to own a home is very low.
Conclusion: So the above is Procedure for transferring apartments of foreigners in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
