From August 1, 2024, what are documents proving that organizations and individuals may own houses in Vietnam?
From August 1, 2024, what are documents proving that organizations and individuals may own houses in Vietnam?
Based on Clauses 1 and 2, Article 3 of Decree 95/2024/ND-CP, the documents proving that organizations and individuals may own houses in Vietnam are specified as follows:
(1) For organizations:
Documents proving that the subject is an organization eligible to own houses in Vietnam are specified as follows:
- For domestic organizations, they must have a Business Registration Certificate or Investment Registration Certificate or documents proving the establishment of the organization issued by competent authorities according to legal regulations;
- For foreign organizations investing in housing construction projects in Vietnam, they must have an Investment Registration Certificate according to the investment law;
- For foreign organizations not in the above categories, they must have an Investment Certificate or Investment Registration Certificate or documents issued by competent Vietnamese authorities allowing their operation or establishment in Vietnam and still valid at the time of signing the housing transaction (referred to collectively as Investment Registration Certificate).
(2) For individuals
Documents proving that the subject is an individual eligible to own houses in Vietnam are specified as follows:
- For individuals who are Vietnamese citizens, they must have an ID card or passport or other documents proving Vietnamese nationality;
- For overseas Vietnamese, they must have a foreign passport or documents permitting international travel under immigration laws and documents certifying their Vietnamese origin according to nationality regulations;
- For foreign individuals, they must have a foreign passport and a written commitment stating that they are not entitled to diplomatic or consular immunities and privileges.
From August 1, 2024, what are documents proving that organizations and individuals may own houses in Vietnam? (Image from the Internet)
What are cases where foreign organizations, individuals are not issued with the certificate for houses in Vietnam?
Based on Article 22 of the Housing Law 2023, the cases where foreign organizations, individuals are not issued with the certificate for houses in Vietnam include:
- Foreign organizations and individuals falling under the following cases are not granted a Certificate of Housing Ownership and can only sell or gift the house to those eligible for housing ownership in Vietnam:
+ Foreign organizations and individuals who are gifted or inherit a house not falling under the stipulations of Point b, Clause 2, Article 17 of the Housing Law 2023 or exceeding the number of houses allowed to be owned according to Article 19 of the Housing Law 2023 or located in areas necessary for national defense and security based on Article 16 of the Housing Law 2023;
+ Foreign organizations not operating in Vietnam, foreign individuals not permitted to enter Vietnam, yet receiving gifts or inheriting houses in Vietnam.
- Subjects stipulated at Point a, Clause 1, Article 22 of the Housing Law 2023 can directly or authorize other entities or individuals to sell or gift the house; subjects specified at Point b, Clause 1, Article 22 of the Housing Law 2023 can authorize other organizations or individuals residing or operating in Vietnam to sell or gift the house.
- Heirs to a house include both subjects eligible and not eligible for housing ownership in Vietnam, and they must agree to handle the inherited property in one of the following ways:
+ Allowing the subject eligible for housing ownership in Vietnam to inherit the house; the subject not eligible for housing ownership in Vietnam will receive the value corresponding to the inherited portion;
+ Gifting or selling the house to entities eligible for housing ownership in Vietnam to receive its value.
Who is eligible to own houses in Vietnam?
Based on Clause 1, Article 8 of the Housing Law 2023, the subjects eligible for housing ownership in Vietnam include:
Eligible subjects and conditions for housing ownership in Vietnam
1. Eligible subjects for housing ownership in Vietnam include:
a) Domestic organizations and individuals;
b) Overseas Vietnamese as per the law on nationality;
c) Foreign organizations and individuals under Clause 1, Article 17 of this Law.
The subjects eligible for housing ownership in Vietnam include:
(1) Domestic organizations and individuals
(2) Overseas Vietnamese as per nationality law
(3) Foreign organizations and individuals eligible to own houses in Vietnam under Clause 1, Article 17 of the Housing Law 2023, specifically including:
- Foreign-invested economic organizations investing in housing construction projects in Vietnam in accordance with the Housing Law 2023 and other related regulations.
- Foreign-invested economic organizations, branches, representative offices of foreign enterprises, foreign investment funds, and branches of foreign banks operating in Vietnam.
- Foreign individuals permitted to enter Vietnam.
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