Are foreigners allowed to own houses in Vietnam?
Clause 1, Article 8 of the Housing Law 2023 stipulates that:
“1. Subjects entitled to own houses in Vietnam include:
a/ Domestic organizations and individuals;
b/ Overseas Vietnamese as specified by the citizenship law;
c/ Foreign organizations and individuals specified in Clause 1, Article 17 of this Law.”
According to Clause 1, Article 17 of the Housing Law 2023, foreign organizations and individuals allowed to own houses in Vietnam include:
“1. Foreign organizations and individuals entitled to house ownership in Vietnam include:
a/ Foreign-invested economic organizations that invest in house construction under projects in Vietnam in accordance with this Law and relevant regulations;
b/ Foreign-invested economic organizations, branches and representative offices of foreign enterprises, foreign investment funds, and foreign bank branches currently operating in Vietnam (below collectively referred to as foreign organizations).
c/ Foreign individuals permitted to enter Vietnam.”
Thus, Foreigners are eligible to own houses in Vietnam.
Regarding the form of owning houses by foreigners in Vietnam
Clause 2, Article 17 of the Housing Law 2023 states that:
“2. Foreign organizations and individuals specified in Clause 1 of this Article may own houses in Vietnam, including also condominium apartments and independent houses, in the following forms:
a/ Organizations specified at Point a, Clause 1 of this Article may own houses through implementing housing investment projects in Vietnam;
b/ Organizations and individuals specified at Points b and c, Clause 1 of this Article may own houses through purchasing or renting with the option to purchase commercial houses of housing investment project owners, receiving house given as donations, or inheriting commercial houses under housing investment projects not in areas requiring national defense and security assurance specified in Article 16 of this Law;
c/ Organizations and individuals specified at Points b and c, Clause 1 of this Article may own houses through purchasing or renting with the option to purchase houses of other foreign organizations and individuals that have owned such houses under Point b of this Clause.”
According to the provisions, foreigners are allowed to own housing in Vietnam in the following forms: buying, renting and purchasing housing such as apartments, condominiums and independent houses in housing construction investment projects.
Conditions for foreigners to own houses in Vietnam
Article 18 of the Housing Law 2023 clearly states conditions for foreign organizations and individuals to own houses in Vietnam:
- For the foreign-invested economic organizations specified at Point a, Clause 1, Article 17 of this Law, they must be housing investment project owners as specified in this Law and the law on real estate business.
- For the foreign organizations specified at Point b, Clause 1, Article 17 of this Law, they must possess investment certificates or investment registration certificates or papers permitting their operation or establishment in Vietnam that remain valid at the time of entering into housing transactions (below collectively referred to as investment certificates) granted by Vietnamese competent state agencies in accordance with law.
- For the foreign individuals specified at Point c, Clause 1, Article 17 of this Law, they must be other than those entitled to diplomatic and consular privileges and immunities as specified by law.
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