Instructions on how foreigners and Vietnamese expatriates can buy homes in Vietnam
Nowadays, there are an increasing number of
foreigners and Vietnamese expatriates coming and getting back to Vietnam to
make investments, do business and make a living.
In order to adapt to this situation, we must
learn applicable regulations on how foreigners and Vietnamese expatriates can
own homes in Vietnam.
Followings are what I wish to share about binding
regulations on how the aforesaid persons can buy homes in Vietnam.
FOREIGNERS:
Persons eligible for owning homes in Vietnam:
- Foreign entities and persons investing in
housing projects in Vietnam under the provisions of this Law and other relevant
laws on condition that they have to hold investment certificates and own homes
built in these projects as provided in the Law on Housing and other relevant
legislation.
- Foreign-invested enterprises, branches and
representative offices of foreign enterprises, foreign investment funds and
foreign bank branches operating within the territory of Vietnam (hereinafter
referred to as foreign entity or entities) on condition that they have to
obtain investment certificates or other documents relating to permission to do
their business in Vietnam (hereinafter referred to as investment
certificate(s)), all of which must be issued by competent Vietnamese regulatory
authorities.
- Foreign individuals permitted to enter
Vietnam on condition that they have to get permission for entry into Vietnam
and are not granted diplomatic or consular immunities and privileges as per
laws.
In which way can foreigners own their homes?
- They may invest in housing projects in
Vietnam under the provisions of this Law and other relevant laws;
- They
may purchase, hire-purchase, be gifted or inherit commercial homes, including
apartments and detached single-family houses located within housing projects,
except for those located within the controlled areas intended for national
defence and security purposes under the Government’s regulations.
Documentation requirements for identification
of regulated subjects and eligibility requirements for ownership of homes:
- Foreigners
have to hold valid passports with entry stamps of Vietnam’s immigration
departments and are not granted diplomatic immunities and privileges under the
provisions of the Ordinance on diplomatic immunities and privileges granted to
diplomatic missions, consular posts and representative agencies of
international organizations in Vietnam.
- Foreign
entities have to be classified as regulated subjects specified in Article 159
of the Law on Housing and have to hold investment registration certificates or
written documents stating permission for their operations in Vietnam which have
been issued by competent Vietnamese regulatory authorities and remain valid
till the time of conclusion of housing agreements (hereinafter referred to as
investment registration certificate(s)).
Also in this Decree, foreigners may purchase,
hire-purchase, be gifted or inherit commercial homes, including apartments and
detached single-family houses located within housing projects, except for those
located within the controlled areas intended for national defence and security
purposes under the Government’s regulations.
Foreign persons and entities are
allowed to own no more than 30% of total number of apartments in an apartment
building; if the population in a locality is equal to a ward-level
administrative subdivision that has a lot of apartment buildings for sale or
lease, they are allowed to own no more than 30% of total number of apartments
in each apartment building and no more than 30% of total number of apartments
in all of these apartment buildings.
VIETNAMESE EXPATRIATES
According to Clause 3 of Article 3 in the 2008
Law on Citizenship (amended and supplemented in 2014):
“3. Vietnamese nationals in foreign countries
are Vietnamese citizens and persons of Vietnamese origin who reside and
permanently live abroad (hereinafter referred to as Vietnamese expatriate).”
According to Point d of clause 1 of Article 169
in the 2013 Law on Land:
dd) Vietnamese expatriates who are eligible to
own houses in Vietnam under the housing laws may acquire land use rights
through purchase, lease-purchase, inheritance or donation of houses associated
with land use rights, or acquire land use rights in housing development
projects;”
.Pursuant to provisions set forth in the Law on
Housing, Vietnamese expatriates may hold rights to own houses in Vietnam if
they are permitted to enter Vietnam. According to Article 5 of the Decree No.99/2015/ND-CP:
“2. Vietnamese expatriates must submit the
following documents:
a) An unexpired Vietnamese passport that bears
the entry seal of a Vietnam’s immigration authority;
b) An unexpired foreign passport that bears the
entry seal of a Vietnam’s immigration authority together with documents proving
the Vietnamese nationality or Vietnamese heritage issued by the Department of
Justice of a province, an overseas Vietnam’s diplomatic mission, or an
authority in charge of management of overseas Vietnamese citizens, or other
documents prescribed by Vietnam’s law.”
This means that, if the aforesaid Vietnamese
expatriate is certified as Vietnamese nationals settling in foreign countries
to buy homes in Vietnam, they must present documents evidencing rights to own
houses in Vietnam in accordance with Article 5 in the Decree No. 99/2015/ND-CP.
Clause 1 of Article 6 in this Decree prescribes
that, if any Vietnamese expatriate not obtaining permission for entry in
Vietnam is given, gifted or inherits houses in Vietnam, he/she will not obtain
recognition of home ownership and will be bound to comply with Clause 2, 3, 4
and 5 in this Decree.
Legal bases:
1. 2014 Law on Housing
2. Decree No. 99/2015/ND-CP
3. 2013 Law on Land
4. 2008 Law on Citizenship (amended and
supplemented in 2014)
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