Conditions for foreigners who want to buy houses in Vietnam
All foreigners who stay in Vietnam with visa which is over 3-month valid can purchase houses following Vietnam proposal (except person who is currently working in Embassy or non-government officer in Vietnam). They can hold house ownership for 50 to 70 years.
Building Ministry has sent the report to Vietnam President about the implementation status of the proposal No.19/2009/QH12 dated June 3rd 2008 of Vietnam Congress on buying houses in Vietnam of foreign organizations, individual.
Foreigners purchase houses in Vietnam
Foreign organizations and individuals that are 5 types of eligible entities in below will be permitted to buy houses in Vietnam:
- A foreigner who invests directly in Vietnam in accordance to investment law or who is employee or manager of a domestic enterprise or enterprise with foreign owned capital ;
- A foreigner individual who contributes to Vietnam and awarded prize with decoration or medal from the President of the Socialist republic of Vietnam; or a foreigner who contributes special contribution accordant with Government’s or President’s decisions;
- A foreigner individual who is currently operating in socio-economic sector with a university or equivalent diploma and who has technical knowledge or technical skills being suitable for Vietnam request.
- A foreign individual who married to a Vietnamese residence.
- A company which is invested by foreign finance currently operating in Vietnam in accordance to investment law that has no function of real property business and being in need of residential houses for the people working at the company.
In addition, Building Ministry has suggested 2 options about term of ownership, one of which is 50 years with an extension allowed, and the other 70 years without any extension. They also propose that foreign organization and individual will be allowed buy both apartment building and stand-alone house (including villa and stand-alone house). In that case of stand-alone house, it is not over to 500 meters in square. The price to buy houses of organizations or individual will be obeyed with stipulation by President.
Building Ministry also implement right about cooperation between a foreigner (who buy houses) and investor (who sale house) to sublet or buy or use the house purchased.
Have a nice day !
By Vietnam-evisa.org team
Source from: site of Ministry of Jusstice