Rights of foreign entities as homeowners are foreign-invested enterprises in Vietnam
Hello LSX Lawfirm, I am an investor contributing capital to Vietnam. How is my house ownership regulated by law? Please advise me. LSX Lawfirm will give you an article about: “Rights of foreign entities as homeowners are foreign-invested enterprises in Vietnam”, as follows:
Legal grounds
Law on housing 2014
Decree No. 99/2015/ND-CP
Decree No. 30/2021/ND-CP
Rights of foreign entities as homeowners are foreign-invested enterprises in Vietnam
The foreign entity are foreign-invested enterprises entitled to exercise rights of homeowners similarly to Vietnam citizens provided that he/she comply with following regulations:
Permissible quantity of houses owned by foreign entities
a) A list of housing construction projects in the province located inside the areas in which foreign entities permitted to own houses.
b) The quantity of houses (including apartments and detached houses) of each housing construction project that foreign entities may own according to Point a of this Clause; the quantity of apartments of each apartment building and the quantity of detached houses of each project that foreign entities may own.
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In addition about “Rights of foreign entities as homeowners are foreign-invested enterprises in Vietnam”
Firstly
The quantity of houses purchased, leased under a lease-purchase agreement by foreign entities, provided they granted certificates for each of the housing construction projects.
Secondly
The quantity of apartments that foreign entities may own in case there are more than one apartment buildings in an area whose population is equivalent to that of a ward; quantity of detached houses that foreign entities may own in case; in an area whose population is equivalent to that of a ward; there is one or more housing construction projects but the total quantity of detached houses does not exceed 2,500. It related to rights of foreign entities as homeowners.
Thirdly
Foreign entities eligible to own houses in Vietnam may only purchase; lease-purchase houses from owners of housing construction projects; or purchase houses of the foreign entities specified in Point b Clause 4 Article 7 of Decree No. 99/2015/ND-CP. In which:
“If the house is sold to a foreign organization or individual eligible to own housing in Vietnam; the buyer or recipient may own the house for the remaining period. When this period expires, if the owner wishes to have this period extended, the State shall consider granting an extension according to Article 77 of this Decree.”
Then
May only receive houses as inheritance of gifts from households or individuals; or receive houses as gifts from organizations provided the quantity does not exceed the limits; specified in Clause 4 and Clause 4 of this Article of the housing construction projects whose houses they may own. Where a foreign entity who is not eligible to own houses in Vietnam receives a house in Vietnam as a gift or inheritance; provisions in Article 78 of this Decree shall apply.
The quantity of apartments that foreign entities may own in case; there are more than one apartment buildings in an area whose population is equivalent to that of a ward; quantity of detached houses that foreign entities may own in case; in an area whose population is equivalent to that of a ward; there is one or more housing construction projects but the total quantity of detached houses does not exceed 2,500. It related to rights of foreign entities as homeowners are foreigner enterprises in Vietnam.
Next
Foreign entities may own up to 30% of the total number of apartments of an apartment building. In an area whose population is equivalent to that of a ward, if there is more than one apartment buildings for sale or lease-purchase; foreign entities may own up to 30% of the number of apartments of each apartment building; and up to 30% of the total number of apartments of all these apartment buildings.
Finally
In an area whose population is equivalent to that of a ward, if there is a commercial housing construction project for sale or lease-purchase, the quantity of detached houses owned by foreign entities is specified The quantity of apartments that foreign entities may own in case there are more than one apartment buildings in an area whose population is equivalent to that of a ward; quantity of detached houses that foreign entities may own in case; in an area whose population is equivalent to that of a ward; there is one or more housing construction projects but the total quantity of detached houses does not exceed 2,500. It related to rights of foreign entities as homeowners are foreigner enterprises in Vietnam
Below:
a) Where the quantity of detached houses of an project is fewer than 2,500; foreign entities may own up to 10% of the houses of such project.
b) Where there is only one project whose quantity of detached houses is equivalent to 2,500 houses; foreign entities may own up to 250 houses of them.
c) Where there are two or more projects where the total quantity of detached houses does not exceed 2,500 houses; foreign entities may own up to 10% of the houses of each project.
Related questions
Housing means?
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.
Recognization 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 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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