In order to ensure a stable living and working in Vietnam, foreigners and international organizations should pay attention to the laws of Vietnam relating to home ownership as follows:
I. Conditions for the home ownership in Vietnam
- Foreigners want to own home must have a valid passport and visa to live in Vietnam;
- As per foreign organizations, there must be an Investment Registration Certificate or a document authorized by a Vietnamese competent authority to operate in Vietnam that is still valid at the time of signing the housing transaction.
(Pursuant to Article 160 of the Law on Housing 2014 and Article 74 of Decree 99/2015/ND-CP)
II. Forms of home ownership for foreigners and international organizations in Vietnam
- To invest in housing construction projects in Vietnam;
- To purchase, rent, get donation or inherit commercial housing including apartments and separate houses in housing construction projects except for areas related to national defense and security as prescribed by the Government of Vietnam.
(Pursuant to Clause 2, Article 159 of the Law on Housing 2014)
III. Commercial housing to be owned in Vietnam
- To own up to 30% of the total number of apartments of a building;
- In an area whose population is equivalent to that of a ward, if there is more than one apartment building for sale or lease-purchase, foreigners may own up to 30% of the number of apartments of each building, and up to 30% of the total number of apartments of all these buildings.
2. Separate houses:
- Separate houses include villas, row houses located in an area whose population is equivalent to that of a ward-administrative division, up to 250 of which foreigners can own;
- Where the quantity of detached houses of a project is fewer than 2,500, foreign individuals and organizations can own up to 10% of those in such project;
- Where there is only one project whose quantity of detached houses is equivalent to 2,500, foreigners can own up to 250 houses of them;
- Where there are two or more projects in which the total quantity of detached houses does not exceed 2,500 houses, foreigners may own up to 10% of the houses of each project.
The Department of Construction shall provide specific instructions on the quantity of houses that foreigners can own.
(Pursuant to Article 161 of the Law on Housing 2014 and Article 76 of Decree 99/2015/ND-CP)
IV. Duration of home ownership for foreigners and international organizations
- Foreigners in Vietnam are eligible for home ownership as agreed in house sale contract, lease, gifting, or inheritance, but not for more than 50 years as of being granted with a Certificate and may get an extension; the duration of ownership must be stated in the Certificate;
- If a foreigner is married to a Vietnamese citizen or an overseas Vietnamese, he/she qualifies for a stable and long-term home ownership and has all rights similar to Vietnamese citizens;
- Foreign organizations are eligible for the home ownership as agreed in agreements on housing sale, lease purchase, gifting, or inheritance, but not longer than the duration stated in their Certificate of investment, including extension.
(Pursuant to point c, point d, clause 2, Article 161 of the Law on Housing 2014)
V. Extension of home ownership
- 03 months before expiration, if the owner wishes to have it extended, foreigners in Vietnam must file an application for extension specifying request for duration and submit a certified copy of the certificate of the house to the People’s Committee of the province in which the house is located;
- Before expiration of home ownership, the owner is entitled to donate or sell the house to persons eligible for home ownership in Vietnam; otherwise, it shall be under ownership of the Government.
(Pursuant to Point dd, Clause 2, Article 161 of the Law on Housing 2014 and Article 77 of Decree 99/2015/ND-CP)
To find out more about our legal services in the real estate and construction field, please contact us via email: [email protected] or phone: +84 907 008 722 (Mr. Steven Long – Manager of Corporate & Investment Department).