Management of housing transaction for foreigners in Vietnam

Management of housing transaction for foreigners in Vietnam (Internet image)

Management of housing transaction for foreigners in Vietnam

The management of housing transactions including selling, leasing for purchase, gifting housing to foreign organizations and individuals is stipulated in Article 7 of Decree 95/2024/ND-CP as follows:

(1) Before signing a contract for the sale, leasing for purchase, gifting of housing, the housing project investor or the gifter or the seller to foreign individuals or organizations must check the information on the electronic portal of the provincial housing management agency where the housing construction investment project is located. The housing project investor or the seller is only allowed to sell, lease for purchase, the gifter is only allowed to gift housing to foreign organizations or individuals in accordance with the stipulated quantity;

(2) Within a maximum period of 03 working days from the date of signing the sale, leasing for purchase, gifting contract, the housing project investor, the gifter or the seller of the housing to foreign organizations or individuals is responsible for notifying information (by email and in writing) about the name of the buyer, the address of the sold, leased for purchase, gifted housing to the provincial housing management agency where the housing is located to be posted on the electronic portal of this agency; within a maximum period of 03 working days from the date of receiving the information from the seller, the provincial housing management agency must check and post this information on the electronic portal.

(3) Before issuing the Certificate to foreign organizations, individuals, the authority issuing the Certificate must check the information posted by the provincial housing management agency.

Within a maximum period of 03 working days from the date of issuing the Certificate to foreign organizations, individuals, the authority issuing the Certificate must notify (by email and in writing) the information about the housing that has been issued the Certificate to the provincial housing management agency for posting on the electronic portal of this agency.

(4) All transactions for sale, leasing for purchase, gifting housing by foreign organizations or individuals exceeding the quantity allowed as stipulated in Article 19 of the Housing Law or transactions involving buying, leasing for purchase, gifting housing in housing construction investment projects that foreign organizations, individuals are not allowed to own are legally invalid and cannot be certified; the seller, lessor of housing must compensate the buyer, lessee for the housing.

(5) The reporting on foreign organizations, individuals owning housing in Vietnam is regulated as follows:

- The authority issuing the Certificate is responsible for sending reports to the Ministry of Construction, the Ministry of Natural Resources and Environment on the issuance of the Certificate according to Form 02 of Appendix I issued with Decree 95/2024/ND-CP along with a copy of the Certificate issued to foreign organizations, individuals for monitoring and management;

- The provision of information and data on the issuance of ownership certificates for housing to foreign organizations, individuals is carried out in accordance with the regulations on providing information and data on housing as stipulated by the law on real estate business.

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