Regulations for foreigners to purchase residential properties in Vietnam
In order to be allowed to buy and own properties in Vietnam, foreigners are entitled to purchase, inherit, receive and own houses in Vietnam, those necessary conditions should be included:
I. Foreigner individual must have passports or alternative valuable papers could replace passports which issued by the competent authority of their countries with one of the following documents:
1. For those who are the direct investors in Vietnam must have name in the investment license or equal certificate with validity at least one year or member certificate of the Board of the operating enterprises in Vietnam.
2. For those who are the foreign individuals who be hired to hold management titles in operating enterprises in Vietnam must have labor contract or appointment decision written by Vietnamese. For those people who deserved well with Vietnam, they must have the Medal awarded by the President of the Socialist Republic of VIETNAM; people have a special contribution to the country, they must have the certificate of the Ministry in charge of the field have contributed and send it to the related ministry to review, submit to the Prime Minister for allowance official copy.
3. For those who are working Vietnam in the fields of economy, science, technology, environment, education and training ... must have engineer or Bachelor qualifications issued or above issued by the Vietnam or overseas authorities, accompanied by work permits or professional license to practice in Vietnam issued by Vietnam authorities.
4. For Foreigners who have special skills, they must have proof of expertise, skills from Association or career association in Vietnam ... attached to professional license to practice in Vietnam or work permit issued by the authorities of Vietnam.
5. Foreigners married Vietnamese citizens must have the marriage certificate papers issued by the Vietnam or overseas authorities, accompanied by Vietnam passport or permanent residence and identity of wife or husband who are citizens of Vietnam.
All above mentioned individuals must have permanent or temporary residence or allowance certificate to reside in Vietnam from 12 months or more issued by the Immigration department under the Ministry of Public Security and is not one of the privileges, immunities, foreign consuls.
II. The houses that above foreign individuals, enterprises are allowed to buy are apartments in the commercial and housing development project and not place in the restricted or banned area for foreigners residing or moving.
The profile and the procedure of issuing Certificate of home ownership and land use right for foreign individuals owning houses in Vietnam as following:
1. Application for issuing ownership of housing and land use right written in Vietnamese and English in regulation forms.
2. Home ownership certificate of the seller:
In cases purchasing apartment in a Housing Development Project from commercial real estate business (including apartments that finish in the future and available):
- The approval decision for project of commercial housing development of Authority department.
- Leasing contract or land hand over minutes or land use right certificate which Authority department issue to real estate business.
- A draw of the floor plan of the apartment.
- The hand over minutes accompanied by the using apartment regulation issued by apartment selling company (in case of purchasing available apartment).
In case of purchasing, inheritance, gifts apartments in commercial housing development project of individuals (condos available):
- The certificate of housing ownership or land use right issued as regulations of Housing Law and Decree 60/Cp dated 5/7/1994 about housing ownership and right to use the land in the municipality or the certificate of housing ownership right according to Decree No. 95/2005/ND-Cp on 15/7/2005 about issuing the certificate of housing ownership and owners of construction works.
- Land use right certificates recorded home on land under provisions of land Law 2003.
III. The original contract for the sale, donation or inheritance papers about housing comply under the law of Vietnam.
IV. Certified copies of foreign passports and one of the papers specified at points a, b, c, d, e.
V. Confirmations of real estate about apartment has traded through the real estate exchange under the provisions of the law on business property, if purchasing apartment from real estate enterprises.
VI. Tax receipts, stamp fees as prescribed by the law.
The above information of Housing Law in Vietnam we updated might be amended according to Vietnam government. And we will update the newest one when the housing law is noticed. Should you need further clarification about this or rent a property in Hanoi, please do not hesitate to contact us.