Foreigners can buy apartment in Vietnam, buying procedure

Foreigners can buy apartment in Vietnam. Currently Vietnam and other countries in the world are in the process of accelerating the integration trend. opening the door to create favorable conditions for countries to exchange and trade in goods and services, and also expand tourism activities. Welcome foreign visitors. Since then, foreigners know more about Vietnam, many people have the tendency and desire to live here. Accompanied by the need to buy land in Vietnam, there are many questions about the conditions of foreign organizations and individuals when they want to buy land in their name or receive land transfer in Vietnam.

Foreigners can buy apartment in Vietnam

Contents

Who is a foreigner?

According to the provisions of the Law in Vietnam 2014: “a foreigner is a person without Vietnamese nationality, including people with foreign nationality and stateless people”

Foreigners can buy apartment in Vietnam

Conditions for buying a house:

Foreigners can buy apartment in Vietnam with Conditions for foreigners to buy houses include the following conditions:

Buyer Object:

– Foreign investors investing in construction of houses under projects in Vietnam according to regulations

– Foreign-invested enterprises (referred to as organizations)

Foreigners are allowed to own houses in Vietnam through the following 02 groups of forms:

* Investment in housing construction under projects in Vietnam;

*Buy, rent-purchase, receive as a gift or inherit commercial housing including apartments, and separate houses in housing construction investment projects, except for areas ensuring national defense and security according to regulations. Government regulations.

Recapitulate:

Foreigners are only allowed to buy, rent-purchase houses. that are apartments and separate houses in housing construction investment projects, but not outside this area.

Details of housing purchase conditions

Conditions for foreigners to buy houses in Vietnam satisfy specific regulations as follows:

Foreigners can buy apartment in Vietnam

Conditions for organization

Organizations must have an investment certificate, or documents related to being allowed to operate in Vietnam, issued by a competent Vietnamese state agency, which is still valid at the time of signing the house purchase or lease purchase contract

Conditions for individuals

Foreign individuals must meet the following 02 conditions:

– Having a valid passport bearing the entry verification stamp of the Vietnam Immigration Department;

– Not eligible for diplomatic privileges and immunities.

Foreigners can buy apartment in Vietnam

Regulations on the number of houses to buy for foreigners

Foreigners who are eligible to own houses in Vietnam are entitled to actively purchase houses in Vietnam according to their needs to the extent permitted by law. However, when foreigners buy houses, they are limited in the number of apartments and houses they own, specifically as follows:

Foreigner buys or leases a house that is an apartment

Foreigners are only allowed to buy, lease-purchase no more than 30% of the total number of apartments in an Apartment Building. In case, foreigners buy, lease-purchase houses in many apartment buildings in an area with a population equivalent to a ward-level administrative unit, they are only allowed to own no more than 30% of the apartments of each building. Apartment buildings and not more than 30% of the total number of apartments of all these apartment buildings.

Foreigners can buy apartment in Vietnam

Foreigners buy, rent-purchase separate houses.

According to the law, foreigners are only allowed to buy or lease-purchase no more than 250 individual houses, including villas and townhouses, in an area with a population equivalent to a ward-level administrative unit.

Foreigners can buy apartment in Vietnam

Number of individual housing purchases

In case there is an investment project on commercial housing construction in an area. With a population equivalent to a ward-level administrative unit, in which there are separate houses for sale or lease-purchase, foreigners only may buy, lease-purchase or own the number of individual houses according to the following quantity:

-Not more than 10% of the total number of houses in the project. when there is only one commercial housing construction investment project in that area with less than 2,500 individual houses.

-No more than 250 individual apartments when there is only one commercial housing construction investment project in that area. With the number of separate houses equivalent to 2,500 units.

-Not more than 10% of the number of houses in each project. When there are two or more commercial housing investment projects in that area where the total number of separate houses. in these projects is less than or equal to 2,500 apartments.

Foreigners can buy apartment in Vietnam

Procedures for buying and selling houses by foreigners:

– Foreign individuals, when buying, renting and buying houses, or receiving the transfer of commercial housing purchase and sale contracts, must be eligible to own houses in Vietnam according to regulations and have full capacity. Civil acts, and at the same time do not require them to have temporary residence registration. Or permanent residence registration in the place where the house is traded.

Foreigners can buy apartment in Vietnam

– Contracts on purchase or lease-purchase of commercial houses in Vietnam, entered into with foreigners must fully show full information about the full names, names and personal information of the participants in the housing transaction; characteristics and objects of transaction housing; capital contribution value, transaction price; payment term and method; rights and obligations of the parties; house handover time; Other agreements; effective date of the contract

Foreigners can buy apartment in Vietnam

– After signing and notarizing housing contracts and documents, the parties, including foreigners, will agree for one party to submit a dossier, to request a competent authority to issue a Certificate of residence housing there. In case, a foreigner buys or leases a house from the project investor, he or she may request the investor to carry out procedures for the state agency to issue a certificate of house ownership, for him or her in accordance with regulations. of Vietnamese law. Ownership of houses in Vietnam of foreigners, who buy or lease-purchase houses in Vietnam will arise from the time they complete the procedures, for registration of ownership at a competent authority.

Foreigners can buy apartment in Vietnam

Time limit for foreigner’s home ownership

For transactions of sale, purchase, lease, lease-purchase of commercial houses of real estate enterprises and cooperatives, comply with the provisions of the law on real estate business, and the law on housing ownership issues in Vietnam are as follows:

Ownership time:

Foreigners who are allowed to enter Vietnam may own houses for a maximum of 50 years, from the date of issuance of the Certificate; Upon the expiration of the house ownership term stated in the Certificate, if the owner wishes to extend it further, the State shall consider and extend it.

Foreigners can buy apartment in Vietnam

Ownership extension

Before the expiration of the house ownership period 03 months, if the owner wishes to extend the right of use, three months before the deadline, The owner prepare all relevant documents to the People’s Committee issued in that area for renewal.

From the date of receiving the application from the owner, the People’s Committee of the province shall consider the application file for extension within 30 days. If the owner decides to force exit or terminate operations in Vietnam, the ownership term cannot be extended further