Which entities are eligible for owning houses in Vietnam from January 1, 2025 under the Law on Housing 2023?
Which entities are eligible for owning houses in Vietnam from January 1, 2025 under the Law on Housing 2023?
Pursuant to the provisions of Clause 1, Article 8 of the Law on Housing 2023, the eligible entities for owning houses in Vietnam are as follows:
Eligible entities and eligibility for owning houses in Vietnam
1. Entities eligible for owning houses in Vietnam include:
a) Domestic organizations and individuals;
b) Overseas Vietnamese in accordance with nationality laws;
c) Foreign organizations and individuals in accordance with Clause 1 Article 17 hereof.
Pursuant to Clause 1, Article 17 of the Law on Housing 2023, 05 entities which are eligible for owning houses in Vietnam include:
No. | Eligible entitiesfor owning houses in Vietnam |
1 | Domestic organizations and individuals; |
2 | Overseas Vietnamese in accordance with nationality laws; |
3 | Foreign-invested business organizations building houses in projects in Vietnam in accordance with the Law on Housing 2023 and relevant law provisions |
4 | Business organizations with foreign investment, branches, representative offices of foreign enterprises, foreign investment funds, and foreign bank branches (hereinafter referred to as “FBB”) operating in Vietnam (hereinafter referred to as “foreign organizations”); |
5 | Foreign individuals allowed to enter Vietnam. |
Thus, organizations and individuals belonging to the above cases are eligible for owning houses in Vietnam if they meet the prescribed conditions.
Which entities are eligible for owning houses in Vietnam from January 1, 2025 under the Law on Housing 2023?
What are the regulations on recognition of the home ownership in Vietnam?
Pursuant to the provisions in Article 9 of the Law on Housing 2023 as follows:
Recognition of the right to property
1. Organizations and individuals eligible and having legitimate houses in accordance with Article 8 hereof shall be recognized for house ownership via issuance of certificate of land use right, the right to house and other asset associated to land (hereinafter referred to as “certificate”), except for public housing.
Houses recognized for ownership under certificate shall be existing houses. Procedures for issuing certificate to house owners shall conform to land laws.
2. In case of termed housing purchase in accordance with Clause 1 Article 165 hereof, the buyers shall be issued with certificate during the agreed duration of ownership; once the ownership duration expires, ownership shall be transferred to the sellers in accordance with agreement; if the sellers do not receive the houses upon expiry of ownership duration, Article 166 of this Law and other relevant laws shall apply.
3. Competent authority issuing certificate shall specify the type and class of houses in accordance with this Law and construction laws in the certificate; in case of dwelling units, specify floor area and usable area of dwelling units; in case of houses built in projects, specify name of housing investment and construction projects approved or decided on investment guidelines by competent authority.
4. In respect of houses built in projects to be sold or lease-purchased, certificate shall not be issued to project developers but to buyers and buyer/tenant unless project developers wish to obtain the certificate for houses that have not been sold or lease-purchased; if project developers invest and build houses in order to lease, project developers may apply for certificate for the houses.
Thus, the recognition of the home ownership is carried out according to the above regulations.
What are the eligibility for owning houses in Vietnam?
Pursuant to the provisions of Clause 2, Article 8 of the Law on Housing 2023 as follows:
Eligible entities and eligibility for owning houses in Vietnam
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2. Eligibility for owning houses in Vietnam include:
a) Domestic organizations and individuals may own houses via investment and construction, purchase, lease purchase, gifting, inheritance, capital contribution, change of ownership, reception of relocation houses as per the law and other means as per the law;
b) Overseas Vietnamese permitted to enter Vietnam may own houses associated with residential land use right in accordance with land laws;
c) Foreign organizations and individuals may own houses via means under Clause 2 Article 17 hereof.
Thus, the eligibility for owning houses in Vietnam include:
- Domestic organizations and individuals may own houses via investment and construction, purchase, lease purchase, gifting, inheritance, capital contribution, change of ownership, reception of relocation houses as per the law and other means as per the law;
- Overseas Vietnamese permitted to enter Vietnam may own houses associated with residential land use right in accordance with land laws;
- Foreign organizations and individuals may own houses via following means:
+ The implementation of housing investment and construction projects in Vietnam in respect of organizations under Point a Clause 1 of Article 17 of the Law on Housing 2023;
+ Purchasing, lease-purchasing residential real estates of developers of housing investment and construction projects, receiving gift, inheriting residential real estates in housing investment and construction projects in areas without strict national defense and security requirements in accordance with Article 16 of the Law on Housing 2023 in respect of organizations and individuals under Point b and Point c Clause 1 of Article 17 of the Law on Housing 2023;
- Purchasing, lease-purchasing houses previously owned by foreign organizations and individuals in accordance with Point b of this Clause 2, Article 17 of the Law on Housing 2023 in respect of organizations and individuals under Point b and Point c Clause 1 of Article 17 of the Law on Housing 2023.
The Government specifically regulates documents proving the subjects and conditions for home ownership.
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