Many foreign organizations and individuals really want to have houses in Vietnam when working and living here. LSX Lawfirm will give you an article about: “Requirements pertaining to foreign entities eligible for the homeownership in Vietnam”, as follows:
Law on housing 2014
Some definitions about the requirements pertaining to foreign entities eligible for the homeownership in Vietnam
Accordingly, Homeowner means any organization, household, or individual having legitimate housing through investment in housing construction, purchase, lease purchase; receipt of gift, receipt of inheritance, receipt of capital contribution; or exchange and other transactions prescribed in this Law and corresponding regulations of law.
Then, Apartment owner means the owner of an apartment or the owner of other areas in an apartment building.
Related article: Procedures for foreigners to buy apartments in Vietnam
Requirements pertaining to foreign entities eligible for the homeownership in Vietnam
Firstly, The foreign entity: Foreign entities who invest in project-based housing construction in Vietnam; as prescribed in the Housing Law and corresponding regulations of law; required to have an Investment certificate and have houses; built under a project as prescribed in this Law and corresponding regulations of law.
Secondly, The foreign entity: Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam (hereinafter referred to as foreign organization).
So, they are required to have an Investment certificate; or a Permission to run business in Vietnam; (hereinafter referred to as Certificate of investment) issued by the competent agency in Vietnam.
Thirdly, The foreign entity: Foreign individuals who are allowed to enter Vietnam.
The Government provides guidance on documentary evidence for entities; or requirements pertaining to foreign entities qualifying for the homeownership in Vietnam.
Housing means any building in which households or individuals live
Apartment building means?
Apartment building means any multi-storey building which has multiple apartments, public stairs; hall ways, private areas, common areas and common infrastructural works for organizations; households or individuals, including apartment buildings for residential use and mixed-use buildings for both business and residential purposes.
To be recognized as house ownership, what conditions must an individual, household or organization meet?
The subject falls into one of the following cases: is an individual, household or organization within the Vietnamese territory; is a Vietnamese individual residing abroad but allowed to enter Vietnam; is a foreign individual or organization but has been granted an investment certificate by a competent state agency in Vietnam; or other equivalent papers proving investment in housing construction in Vietnam; means an individual of foreign nationality who enters Vietnam and is not subject to diplomatic or consular immunity and privileges.
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