Foreigners are allowed to buy houses in Vietnam, but certain conditions must be met to buy houses. Below is the article on conditions for foreigners to buy houses in Vietnam.
Who is allowed to buy house/ appartment in Vietnam
According to Item 1 Article 159 Law on Housing 2014 and article 74 Decree 99/2015 / ND-CP, foreign organizations and individuals being allowed to buy house/appartment include:
1. Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam (called as “foreign organization”) is issued Investment Registration Certificate or papers related to the permission to operate in Vietnam by the competent State agencies of Vietnam that remain valid at the time of signing the house purchase or lease-purchase contract.
2. Foreign individuals are allowed to enter Vietnam. It means that individuals must satisfy the following two conditions:
Foreign organizations and individuals are investing in the construction of houses under projects in Vietnam in accordance with law.
Which house/appartment can foreign organizations and individuals buy
Foreign organizations and individuals are allowed to own houses in Vietnam through the following two forms as below:
- Own through investing the housing project in Vietnam;
- Purchase, lease-purchase, donation or inheritance of commercial houses including apartments and houses in housing construction projects, except for areas under national defense and security regulations.
+ Form of house lease purchase means that the lessee pays 20% of the value of the house in advance to the lessor, unless the lessee has conditions to pay in advance, the payment must not exceed 50%;
+ The remaining amount to be paid shall be calculated into the monthly rent to the lessor to purchase within a certain period of time; after the lease-purchase term expires and when the remaining amount has been fully paid, the tenant has ownership of the house.
Welcome to Apolo Lawyers Law Firm
Apolo Lawyers is welcomed to help the client to deal with housing transaction. By our team of experienced lawyers, we believe that our clients will be satisfied with the quality of our service. For further information, please contact:
Address: 10th Floor, PaxSky Building, No. 51 Nguyen Cu Trinh Street, District 1, Ho Chi Minh City
Tel: (028) 66.701.709 / (028) 35.059.349
Mobile & WhatsApp 1: 0939.486.086 / Mobile & WhatsApp 2: 0908.043.086