What is duration of homeownership in Vietnam for overseas Vietnamese?

What is duration of homeownership in Vietnam for overseas Vietnamese?

I have the following question: Are overseas Vietnamese who buy a house in Vietnam limited in terms of ownership period?

Reply:

Overseas Vietnamese is a common term, according to the law, they are Vietnamese people residing abroad.

According to the 2014 Housing Law, Vietnamese people residing abroad are not limited in term of homeownership in Vietnam; Vietnamese people residing abroad qualify for stable and long-term homeownership, except for cases of homeownership under a term contract on housing as prescribed in Article 123 of the 2014 Housing Law.

Article 123 of the 2014 Housing Law is guided in Article 73 of Decree 99/2015/ND-CP, which stipulates:

Article 73. Time-limited sale of housing

1. The seller may sell a house together with the right to use land or right to lease land of such house for a limited period of time. 

What is duration of homeownership in Vietnam for overseas Vietnamese? (Image from the Internet)

Can foreigners sell their houses to Vietnamese people? 

Hello, I have the following question: I have a friend who is a foreigner, he will return to Germany soon to live, now he has an apartment that he wants to sell it to me, is that possible?

Reply:

Pursuant to Clause 4, Article 7 of Decree 99/2015/ND-CP stipulates:
...

4. In case the foreign organization or individual sells or offers the house before the expiration of the ownership period, the buyer or recipient may own the house as follows:

a) If the house is sold or gifted to a domestic organization, household, individual, or a Vietnamese citizen residing overseas, the buyer or recipient will acquire a long-term ownership of the house;

...

On the other hand, it is necessary to note the provisions in Clause 8, Article 79 of Decree 99/2015/ND-CP:

Foreign entities are prohibited to buy houses for commercial purposes.

However, currently there are no regulations guiding the buying houses for commercial purposes. Thus, if a foreigner has a house in Vietnam but still has the homeownership period and no longer needs to use it, he or she has right to resell it to a Vietnamese person according to regulations.

Can foreigners buy houses from Vietnamese people? 

Hello. I have a friend who is Taiwanese. Recently I inherited the apartment left by my grandfather. However, due to business needs, I need capital. I want to sell this house to my friend. So, let me ask: Do I have right to sell this apartment to my friend? Hope to receive support information.

Reply:

Pursuant to Clause 2, Article 76 of Decree 99/2015/ND-CP:

2. Foreign entities eligible to own houses in Vietnam may only purchase, lease-purchase houses from owners of housing construction projects, or purchase houses of the foreign entities specified in Point b Clause 4 Article 7 of this Decree, and may only receive houses as inheritance of gifts from households or individuals, or receive houses as gifts from organizations provided the quantity does not exceed the limits specified in Clause 4 and Clause 4 of this Article of the housing construction projects whose houses they may own. Where a foreign entity who is not eligible to own houses in Vietnam receives a house in Vietnam as a gift or inheritance, provisions in Article 78 of this Decree shall apply.

Thus, when a foreign entity buys a house in Vietnam, he or she can only purchase a house from an owner of housing construction project, or purchase a house of foreign entities. In case of foreigners purchasing houses in Vietnam from Vietnamese people, the law does not allow it.

Best regards!