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Ministry seeking feedback on conditions for foreigners to own houses in Vietnam

Ministry seeking feedback on conditions for foreigners to own houses in Vietnam

Wednesday, February 28, 2024, 14:12 GMT+7
Ministry seeking feedback on conditions for foreigners to own houses in Vietnam
This aerial image shows a housing project under construction in District 12, Ho Chi Minh City, southern Vietnam. Photo: Quang Dinh / Tuoi Tre

The Vietnamese Ministry of Construction is collecting opinions on a draft decree guiding the implementation of the 2023 Housing Law, including the provisions on conditions for domestic and foreign individuals and organizations to own houses in Vietnam. 

The ministry recently issued the draft decree to serve the execution of the Housing Law that will take effect from January 1, 2025 after being promulgated in late December 2023 by the National Assembly. 

Accordingly, domestic organizations wanting to obtain a house must have a business registration certificate, investment registration certificate, or establishment license issued by a relevant authority.

For foreign organizations, they must have an investment registration certificate or documents issued by a designated Vietnamese agency to permit them to operate in Vietnam, and these papers must be valid at the time of signing any housing-related transactions.

In respect of domestic individuals, they must have personal identification papers according to the provisions of the Law on Citizen Identification. 

For overseas Vietnamese who retain Vietnamese nationality, they must have a Vietnamese passport issued by Vietnamese authorities.

In the event of people of Vietnamese origin residing abroad, they are required to obtain a foreign passport and documents certifying that they are of Vietnamese origin according to the provisions of the Law on Nationality. 

For foreign individuals, they must have a foreign passport and a written commitment that they are not eligible for diplomatic privileges and immunities. 

In addition, domestic organizations and individuals, and overseas Vietnamese who retain Vietnamese nationality must also have documents proving that relevant houses were legally created through the forms specified in Clause 2, Article 8 of the Housing Law, according to the Vietnam Government Portal.

For people of Vietnamese origin residing abroad, they must have a valid foreign passport, be permitted to enter Vietnam, reside in Vietnam at the time of signing the housing transactions, and be eligible to own houses attached to land use rights prescribed by land legislation. 

For foreign individuals, they must have a valid passport and permission to enter Vietnam, reside in Vietnam at the time of signing the housing transactions, and have documents proving that relevant houses were created legally through the forms specified in Clause 2, Article 17 of the Housing Law. 

In order to ensure national defense and security, the draft decree also stipulates that foreign organizations and individuals are not allowed to own houses in the following areas: key areas in terms of defense and security; border communes and island areas; areas with barracks for the armed forces; areas with headquarters and offices of state administrative and Party agencies at the provincial level or higher; and other areas according to regulations of the Ministry of National Defense and the Ministry of Public Security, according to the Vietnam Government Portal.

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Vinh Tho / Tuoi Tre News

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