Nowadays, Vietnam is one of the most interesting places for real estate investments in Asia. Vietnam opened to foreign investors as late as 2015. Since then, the country has welcomed everything from corporations, property buyers, and stock investors, eager to capitalize on this exploding market. The following article will gather all necessary information to clarify the possible ways for a foreigner to acquire assets in Vietnam.

1/ What is “the real estate” in Vietnam?

According to the Civil Code in Vietnam, real estate is non-movable property including:

• Land;
• Houses and constructions attached to land, including properties attached to such houses and constructions;
• Other assets attached to land;
• Other properties prescribed by law;

a/ Can foreigners buy property in Vietnam?

• Foreigners can buy property if they are allowed to enter Vietnam;
• There is no cap to the number of properties you can buy;
• Foreigners are restricted to buying a maximum of 30% of the units in condominiums and cannot own more than 10% of the properties in landed projects;
• Foreigners can buy houses, but only 250 of the houses in a given ward (division);
• The leasehold period is still 50 years but can be renewed only once;
• You can get a freehold tenure if you have a Vietnamese spouse;

Therefore, you can buy as many properties as you want, as long as you have enough money. This can be considered as a revolution in the regulations of foreign ownership.

b/ Can foreigners buy land in Vietnam?

In Vietnam, the land is collectively owned by all Vietnamese people but governed by the state. Foreigners can not buy as well as own any land in Vietnam. However, as regulated in Law on Land, foreign organizations and individuals are able to rent land. The leasehold period is up to 50 years, but in some cases up to 70 years.

2/Why do you need to hire a property lawyer in Vietnam?

It is necessary that you consult a lawyer for significant transactions as there may still be some difficulties blocking your way.

Our services on Real estate law consultant, including:

• Consulting on registration procedures, applying for a certificate of land use rights, ownership of houses and assets attached to land;
• Consultancy on procedures for legalizing houses and land, procedures for splitting plots, merging house and land blocks;
• Consultancy on house completion procedures, construction completion procedures, procedures for applying for housing construction permits;
• Consulting on all types of transaction contracts: Deposit contract, land use right transfer, house purchase and sale, mortgage, house lease, etc.
• Consulting procedures for land use conversion;
• Consulting procedures for inheritance and donation of land use rights;
• Procedures for transferring projects of new urban areas, housing projects, technical infrastructure projects of industrial parks and export processing zones;
• Consulting procedures for settling land disputes.

​As a legal consultant, always accompanying investors in business activities in Vietnam, over the past year, Apolo Lawyers has continuously advised and supported foreign investors on the plan as well with many experienced years in drafting and consulting specific contracts in Vietnam.

Customers can connect us with many forms including direct law advice at the office, email counseling, telephone consultation and many other forms to create the best favorable conditions for clients. For customers who cannot directly meet the lawyers, you can choose to consult via Email, or WhatsApp.

Our company will offer the most effective solutions for customers, consulting in writing to ensure high accuracy, with legal basis. With the enthusiastic support from the company, the customer will spend not only a lot of time but also travel expenses.

For further information, contact us:

Apolo Lawyers - Solicitors & Litigators

Address: 10th Floor, PaxSky Building, No. 51 Nguyen Cu Trinh Street, District 1, Ho Chi Minh City

Binh Thanh Branch      

Address: 9th/F, Tower K&M Building, 33 Ung Van Khiem St., Binh Thanh Dist., HCM City

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Tel: (028) 66.701.709 / (028) 35.059.349

Mobile 1/ Whatsapp 1: 0939.486.086 / Mobile 2/ Whatsapp 2: 0908.043.086

Email: contact@apolo.com.vn

Website: apololawyers.com

APOLO LAWYERS