Foreigners House Ownership & Vietnamese Residing Abroad

Vietnam has become a popular destination for foreign investors and expatriates looking to settle down. Many foreigners currently living and working in Vietnam, as well as Vietnamese residing abroad, have a growing demand for property ownership in the country. However, foreigners buying houses in Vietnam and Vietnamese residing abroad must meet specific legal conditions to own property legally.

Who Qualifies for Property Ownership in Vietnam?

Vietnamese law defines two key groups:

1. Foreigners: Individuals who do not hold Vietnamese nationality, including stateless persons and those with foreign citizenship.
2. Vietnamese Residing Abroad: Individuals of Vietnamese origin who currently live, work, and settle overseas. This includes those born abroad but with Vietnamese ancestry (parents, grandparents, or ancestors).

Types of Properties Available for Foreign Ownership

In Vietnam, housing is categorized into two main types:

• Detached Houses: Built separately on individual land plots.
• Apartments: Multi-story buildings with shared facilities and separate private units.

Legal Framework Governing Property Ownership

Foreigners and Vietnamese residing abroad must comply with regulations outlined in:

• Law on Land (2013)
• Law on Housing (2014)
• Decree 99/2015/ND-CP (guiding the Housing Law)
• Decree 30/2021/ND-CP (amending Decree 99/2015/ND-CP)
• Circular 19/2016/TT-BXD (providing further guidance on the Housing Law)

Property Ownership Rights for Vietnamese Residing Abroad

By law, Vietnamese residing abroad can own property in Vietnam by:

• Purchasing or leasing commercial housing from real estate developers.
• Receiving houses through inheritance or gifts from individuals or organizations.
• Acquiring land-use rights in housing projects where land sales for housing construction are permitted.

Essentially, Vietnamese citizens living abroad enjoy almost the same property ownership rights as Vietnamese citizens living in the country. However, to register property ownership, they must provide documentation proving their eligibility:

• For those with a Vietnamese passport: The passport must be valid with an entry stamp from Vietnam’s Immigration Department.
• For those with a foreign passport: They must provide proof of Vietnamese nationality or Vietnamese origin, certified by competent authorities such as the Department of Justice or Vietnam’s diplomatic missions abroad.

Property Ownership Rights for Foreigners in Vietnam

While foreigners buying houses in Vietnam have more legal opportunities than before, ownership remains limited. There are only two ways for foreigners to acquire property:

1. Investing in Housing Projects: Foreigners can establish a real estate business and develop housing projects, but this requires complex legal procedures and is rarely an option for individual buyers.
2. Purchasing Commercial Housing: Foreigners can buy or lease commercial properties (apartments or private houses) within designated housing projects. However, this does not include land or non-commercial residential properties.

Restrictions on Foreign Ownership

Foreigners buying houses in Vietnam must also adhere to strict regulations:

• Limited Ownership Period: Foreigners can own houses for up to 50 years, with possible extensions.
• Ownership Cap: Foreigners cannot own more than 30% of the apartments in a single building or more than 10% of detached houses within a project.
• No Land Ownership: Foreigners cannot own land but are granted land-use rights for specific properties.

Challenges for Foreign Buyers

In reality, foreigners buying houses in Vietnam face several obstacles:

• Complex property registration procedures require thorough verification.
• Restricted property locations (foreigners cannot buy in national security zones).
• Legal documentation requirements vary, making self-processing difficult.

Why You Need Legal Assistance

For both foreigners buying houses in Vietnam and Vietnamese residing abroad, understanding real estate laws and fulfilling legal requirements can be complex. Consulting with experienced legal professionals is highly recommended to:

• Ensure compliance with Vietnamese real estate laws.
• Assist with property search and due diligence.
• Prepare legal documents for ownership registration.

If you are considering buying property in Vietnam, seeking professional legal advice can save time, avoid unnecessary risks, and secure your investment.

With many years of experience and legal knowledge in Vietnam, An Law Vietnam confidently affirms its support for you in real estate transactions in Vietnam for foreigners. With a team of dedicated and enthusiastic lawyers, An Law Vietnam will accompany you on your journey to building a family in Vietnam.

? Contact An Law Vietnam today for expert legal consultation!

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• Email: info@anlawvietnam.com
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