How many houses can foreigners own? What are rights of house owners that are foreigners in Vietnam?
How Many Houses Can Foreigners Own in Vietnam?
Based on the provisions of Article 19 of the Law on Housing 2023 as follows:
Number of houses eligible for ownership by foreign organizations, individuals in Vietnam
1. Foreign organizations and individuals specified in points b and c of Clause 1, Article 17 of this Law can only purchase, lease-purchase, receive as a gift, inherit, and own no more than 30% of the total apartments in a condominium; for separate houses, including villas and adjacent houses, they can purchase, lease-purchase, receive as a gift, inherit, and own no more than 250 houses in an area with a population equivalent to a ward.
2. In case an area with a population equivalent to a ward has several condominiums or separate houses on a street, foreign organizations and individuals can purchase, lease-purchase, receive as a gift, inherit, and own no more than the number of apartments and separate houses stipulated in Clause 1 of this Article.
3. The Government of Vietnam stipulates requirements on areas that need to ensure national defense and security, criteria for converting population size equivalent to a ward, the number of houses that foreign organizations and individuals can own, the extension of house ownership duration, and the management of house ownership by foreign organizations and individuals in Vietnam.
Therefore, under the above regulation, foreigners can only purchase, lease-purchase, receive as a gift, inherit, and own no more than 30% of the total apartments in a condominium.
For separate houses, including villas and adjacent houses, in an area with a population equivalent to a ward, they can only purchase, lease-purchase, receive as a gift, inherit, and own no more than 250 houses.
In case an area with a population equivalent to a ward has several condominiums or separate houses on a street, foreigners can purchase, lease-purchase, receive as a gift, inherit, and own no more than the specified number of apartments and separate houses.
How many houses can foreigners own? What are rights of house owners that are foreigners in Vietnam?
Conditions for Foreigners to Own Houses in Vietnam
Based on the provisions of Clause 2, Article 8 of the Law on Housing 2023, foreigners can own houses in Vietnam through the forms specified in Clause 2, Article 17 of the Law on Housing 2023. Specifically as follows:
- Through purchasing, lease-purchasing commercial houses from investors of housing development projects, receiving as a gift, inheriting commercial houses in housing development projects not located in areas that need to ensure national defense and security (applicable to organizations and individuals specified in points b and c of Clause 1, Article 17 of the Law on Housing 2023).
- Through purchasing, lease-purchasing houses of foreign organizations and individuals who have already owned houses under the provisions of point b, Clause 2, Article 17 of the Law on Housing 2023 (applicable to organizations and individuals specified in points b and c of Clause 1, Article 17 of the Law on Housing 2023).
Rights of Foreigners When They Are House Owners in Vietnam
Based on the provisions of Clause 2, Article 20 of the Law on Housing 2023 as follows:
Rights of Foreign Housing Owners
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2. Foreign organizations and individuals specified in points b and c of Clause 1, Article 17 of this Law have the rights of house owners like Vietnamese citizens but must comply with the following regulations:
a) They can only purchase, lease-purchase, receive as a gift, inherit and own houses according to the quantity specified in Article 19 of this Law and be granted certificates for such houses;
b) In case foreign organizations and individuals are given or inherited houses not stipulated in point b, Clause 2, Article 17 of this Law or exceeding the number of houses specified in Article 19 of this Law or located in areas that need to ensure national defense and security specified in Article 16 of this Law, they can only enjoy the value of the houses;
c) For foreign individuals, they can own houses according to the agreement in the house purchase, lease-purchase, gift, inheritance transactions but not more than 50 years from the date of certificate issuance and can be extended once for no more than 50 years if needed; the house ownership period must be clearly stated in the certificate.
In case a foreign individual marries a Vietnamese citizen residing in Vietnam, they can own houses and have the rights of house owners like Vietnamese citizens.
In case a foreign individual marries a Vietnamese residing overseas who is allowed to enter Vietnam, they can own houses and have the rights of house owners like Vietnamese residing overseas;
d) For foreign organizations, they can own houses according to the agreement in the house purchase, lease-purchase, gift, inheritance transactions but not more than the duration specified in the investment certificate granted to that organization, including the extension time; the house ownership period starts from the date the organization is granted the certificate and is clearly stated in this certificate;
dd) Before the end of the house ownership period specified in this Law, the homeowner can directly or authorize another organization or individual to gift or sell this house to entities eligible for house ownership in Vietnam; if the ownership period expires and the homeowner does not sell or gift the house, it becomes public property.
In case the recipient or buyer of the house is an entity specified in points a and b, Clause 1, Article 8 of this Law, they have the rights stipulated in Clause 1, Article 10 of this Law.
Therefore, the rights of foreigners as house owners in Vietnam are as mentioned above.
The Law on Housing 2023 will come into effect on January 1, 2025.
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