Vietnam Property Foreign Ownership Guide

Vietnam Property Foreign Ownership Guide
Can foreigners buy property in Vietnam? Since the newly reformed Vietnamese Law on Residential Housing (LRH) Officially kicked-off in 1st July 2015, several major past restrictions on property ownership have been removed for foreigners.

Here are the LATEST UPDATES on Vietnam Property Foreign Ownership Law Investors Need to Know:

Individuals:
Foreign individuals are eligible to buy residential properties in Vietnam, as long as they can enter the country legally.

Entities:
All legal entities like foreign investment funds, banks, Vietnamese branches and representative offices of overseas companies that are established in Vietnam; are eligible to buy Vietnam properties.

Types:
The new Residential Housing Law allows eligible foreign entity and individuals to buy and own all residential sectors including apartments and landed properties such as villas and townhouses (previously only applicable to apartments).

Foreigner Quota Restrictions:
(i) Foreigners can own not exceeding 30% of the total units within one condominium complex;
(ii) and not exceeding 10% for the total number of the separate houses for each project.

Purpose of Purchase:
The properties owned by foreigners can be sold, sub-leased, inherited and collateralize (previously only for owner occupying purpose).

Land Tenure
(i) Foreign Individuals: up to 50 years leasehold from the date of issuance of ownership certificate  + possible renewal (subjected to approval by authorities.)

(ii) Foreign Individuals + Vietnamese spouse: Freehold

(iii) Foreign organizations: up to the duration (inclusive of extended duration) indicated in the investment certificate.