Foreigners are allowed to own houses in Vietnam, however, they should pay special attention to the following issues:
Conditions for foreign individuals to own houses in Vietnam
Foreigners must have a valid passport with an entry verification stamp from the Vietnam Immigration Department;
Foreigners are not entitled to diplomatic privileges and immunities under the Ordinance on Privileges and Immunities for diplomatic missions, consular offices, and representative offices of international organizations in Vietnam.
Areas where foreign organizations and individuals are allowed to own houses
Foreign individuals are only allowed to own houses (including apartments and separate houses) in commercial housing construction projects, except for areas ensuring national defense and security as prescribed by Vietnamese law.
The time limit for foreigners to own houses in Vietnam
Foreign individuals may own houses as agreed upon in contracts for purchase, sale, lease purchase, donation, or inheritance, for a maximum of 50 years from the date of issuance of the Certificate.
In case this time limit expires and the foreigner wants to extend it further, the following points should be noted:
03 months before the expiration of the house ownership period, an application clearly stating the extension period must be submitted together with a certified copy of the Certificate of housing and sent to the People's Committee of the province;
The extension period shall not exceed 50 years and may only be renewed once.
Number of houses in Vietnam that foreigners are allowed to own
For apartments: only own no more than 30% of the total number of apartments in an apartment building. In case there are many apartment buildings for sale or lease purchase in an area with a population equivalent to a ward-level administrative unit, foreign individuals may only own no more than 30% of the apartments in each building and no more than 30% of the total number of apartments of all these apartment buildings;
For houses: If foreigners’ houses located in an area with a population equivalent to a ward-level administrative unit has an investment project to build commercial houses, including separate houses for sale, or lease-purchase, foreign individuals may own the number number of separate houses according to the following regulations:
If there is only one project with several individual houses below 2,500 units, the foreign individual may only own no more than 10% of the total number of houses in that project;
If there is only one project with several separate houses equivalent to 2,500 units, foreign individuals may only own no more than 250 houses;
In case there are two or more projects and the total number of separate houses in these projects is less than or equal to 2,500 units, foreign organizations and individuals may only own no more than 10% of the number of houses in each project.
Some notes for foreigners owning houses in Vietnam
In case a foreigner marries a Vietnamese citizen or marries a Vietnamese residing abroad, he/she is entitled to own a stable and long-term house and has the same rights of a house owner as a Vietnamese citizen.
Please contact us for further assistance:
EZ TOURISM AND INVESTMENT CONSULTING COMPANY LIMITED
Address: No. 42, 26 Nguyen Hong, Lang Ha Ward, Dong Da District, Hanoi, Vietnam
Phone: 097 324 0969
Email: marketing@ez-consulting.com.vn
Website: www.ez-consulting.com.vn/
