Can foreigners buy houses in Vietnam? – The answer is “Yes”. However, foreigners must meet certain conditions to buy a house. Luat Phuc Cau would like to provide information about the foreign entities for the homeownership in Vietnam in the article below:
- Law on Housing 2014;
- Decree of Government No. 99/2015/ND-CP dated October 20, 2015, on guidelines for The Law on Housing;
Can foreigners buy houses in Vietnam?
According to Article 159 of The Law on housing 2014 are:
Article 159. Foreign entities eligible for the homeownership in Vietnam and forms of the homeownership in Vietnam relating to foreign entities
“1. Foreign entities eligible for the homeownership in Vietnam include:
c) Foreign individuals who are allowed to enter Vietnam.
2. The foreign entities eligible for the homeownership in Vietnam if they:
a) Invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;
b) Buy, rent and purchase, receive, or inherit commercial housing including apartments and separate houses in the project for housing construction, except for areas under management relating to national defense and security as prescribed in regulations of the Government.”
And Clause 3 Article 160 of The Law on housing 2014 follow:
“3. The foreign entity prescribed in Point c Clause 1 Article 159 of this Law is required to have permission to enter Vietnam and he/she is not granted diplomatic immunity and privileges as prescribed.”
To buy a house in Viet Nam, foreigners must meet the condition that individuals who are allowed to enter Vietnam and not granted diplomatic immunity and privileges as prescribed. Therefore, if you give documents providing you meet the above conditions (as a valid passport with an entry stamp from the Vietnamese immigration authorities and you are not granted diplomatic immunity and privileges as prescribed), you will have a right to buy, rent, purchase, receive, or inherit apartment and house in a commercial project and not in areas that limit or ban foreigners.
The duration of the homeownership
The foreign individuals are eligible for the homeownership as agreed in agreements on housing sale, lease purchase, gifting, or inheritance for not more than 50 years, from the day on which they are granted the Certificate and they may be also granted extension as prescribed in regulations of the Government. The duration of the homeownership must be stated in the Certificate.
If a foreign individual marries a Vietnamese citizen or an overseas Vietnamese, he/she qualifies for stable and long-term homeownership and has all rights of homeowner similarly to Vietnamese citizens.
Please note that if a foreign sells or offers the house before the expiration of the ownership period to a Vietnamese organization, household, individual, or a Vietnamese citizen residing overseas; the buyer or recipient will acquire long-term ownership of the house. On the other hand, if the house is sold or offered to a foreign organization or individual; the buyer or recipient is only allowed to own the house for the remaining period of 50 years.
Please don’t hesitate to contact us if you require any further information!