When coming to Vietnam for the first time, can foreigners buy houses or land?
A reader with email phamnga.x@xx sent an email to the Lao Dong Newspaper’s Legal Counseling Office to ask: I have an American friend who is coming to Vietnam for the first time. Can my friend buy a house or land in Vietnam?
Lao Dong Newspaper's Legal Counseling Office replied:
- Foreign organizations and individuals who invest in project-based housing construction in Vietnam as prescribed in the Law on Housing and relevant laws.
- Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds, and branches of foreign banks operating in Vietnam (referred to as organizations).
- Foreign individuals who are allowed to enter Vietnam.
Foreigners are eligible for housing ownership in Vietnam through the following 02 groups of forms:
- Invest in project-based housing construction in Vietnam;
- Buy, rent and purchase, receive or inherit commercial housing including apartments and separate houses in the housing construction investment projects, except for areas under management to ensure national defense and security according to regulations of the Government.
According to the provisions of Article 74 of Decree 99/2015/ND-CP, foreign organizations and individuals in the above categories are eligible to buy houses in Vietnam but must have proof documents. Specifically, organizations must have investment registration certificates or permissions issued by Vietnam’s competent authorities for operation in Vietnam which are still unexpired at the time of housing transactions. For foreigners, they must satisfy two conditions: have unexpired passports bearing the entry seal of Vietnam’s immigration authorities and not be eligible for diplomatic privileges and immunities.
By: Online Nam Duong (Labor Newspaper)/ Translator: Viet Nguyen-Bizic
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