Home ownership of foreign entities in Vietnam

Hi DMS Lawyer in Vietnam! Could you advise me about home ownership rights of a foreigner, foreign organization in Vietnam ? Is there a time limit for home ownership of a foreigner, foreign invested company in Vietnam ? 

Hi!

Home ownership rights of foreign entities:

The foreign entity prescribed in Point b and c Clause 1 Article 159 of this Law is entitled to exercise rights of home owners similarly to Vietnam citizens provided that he/she comply with following regulations:

The entity may not buy, rent and purchase, receive, inherit and own more than 30% of apartments in an apartment building; or more than 250 houses regarding separate houses including villas, row houses in an area whose population is equivalent to a ward-administrative division. In case in an area whose population is equivalent to a ward-administrative division has multiple apartment buildings or regarding separate houses in a street, the Government shall provide guidance on number of apartments or number of separate houses that a foreign entity is entitled to buy, rent and purchase, receive, inherit and own;

In case the foreign entity receives or inherits houses not in accordance with Point b Clause 2 Article 159 of this Law or exceeding the number of houses prescribed in Point a of this Clause, he/she only receives the value of that houses;

Foreign individuals are eligible for the home ownership 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 granted extension as prescribed in regulations of the Government; the duration of the home ownership must be stated in the Certificate. If a foreign individual marries to a Vietnamese citizen or an oversea Vietnamese, he/she qualifies for stable and long-term home ownership and has all rights of home owner similarly to Vietnamese citizens;

Foreign organizations are eligible for home ownership as agreed in agreements on housing sale, lease purchase, gifting, or inheritance for not longer than the duration stated in their Certificate of investment, including extension duration, the duration of the home ownership shall be determined from the day on which the organization is granted the Certificate and stated in such Certificate;

Before the time limit of the home ownership prescribed in this Law expires, the home owner may gift or sell their houses to entities eligible for home ownership in Vietnam; otherwise their houses shall be under ownership of the State (Clause 161 Law on Housing No. 09/VBHN-VPQH dated 04 July 2019).

Home ownership duration of foreigners:

Foreigners mentioned in Point c Clause 1 Article 159 of the Law on Housing may own houses for up to 50 years from the date of issuance of the Certificate; upon expiry of the house ownership period written on the Certificate, if the owner wishes to have extension, the State shall consider granting an extension according to Article 77 of this Decree (Clause 3 Article 7 Decree No 99/2015/NĐ-CP dated October 20, 2015).

Related topics:

May an overseas Vietnamese acquire houses associated with land use rights in Vietnam

Forms of land use applicable to a foreign invested company in Vietnam

Consulting services:

Phone: 0914 165 703 or email: dmslawfirm@gmail.com

Home ownership of foreigners, FDI companies in Vietnam