How many apartments can foreigners purchase in Vietnam?
In Vietnam, how many apartments can foreigners purchase? What are the obligations of foreign homeowners? I'm a foreigner. I would like to purchase some apartments. What is the maximum number of apartments can I buy?
<subquestion>In Vietnam, how many apartments can foreigners purchase?</subquestion>
Pursuant to Clause 1, Article 159 of the Law on Housing in 2014 stipulating as follows:
1. Foreign entities eligible for the homeownership in Vietnam include:
a) Foreign entities who invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;
b) Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam (hereinafter referred to as foreign organization);
c) Foreign individuals who are allowed to enter Vietnam.
Pursuant to Clause 2, Article 161 of the Law on Housing in 2014 stipulating the foreign entity prescribed in Point b and c Clause 1 Article 159 of this Law is entitled to exercise rights of homeowners similarly to Vietnam citizens provided that he/she comply with following regulations:
a) He/she may not buy, rent and purchase, receive, inherit and own more than 30% of apartments in an apartment building; or more than 250 houses regarding separate houses including villas, row houses in an area whose population is equivalent to a ward-administrative division.
In case in an area whose population is equivalent to a ward-administrative division has multiple apartment buildings or regarding separate houses in a street, the Government shall provide guidance on number of apartments or number of separate houses that a foreign entity is entitled to buy, rent and purchase, receive, inherit and own;
b) In case the foreign entity receives or inherits house(s) not in accordance with Point b Clause 2 Article 159 of this Law or exceeding the number of houses prescribed in Point a of this Clause, he/she only receives the value of that house(s);
c) The foreign individuals are eligible for the homeownership as agreed in agreements on housing sale, lease purchase, gifting, or inheritance for not more than 50 years, from the day on which they are granted the Certificate and they may be also granted extension as prescribed in regulations of the Government; the duration of the homeownership must be stated in the Certificate.
As regulations above, if you are foreign individuals who are allowed to enter Vietnam, you shall purchase under 30% of apartments in an apartment building
<subquestion>What are the obligations of foreign homeowners?</subquestion>
Pursuant to Article 162 of the Law on Housing in 2014 stipulating obligations of foreign entities as homeowners:
. The foreign entity prescribed in Point a Clause 1 Article 159 of this Law has obligations of homeowners as prescribed in Article 11 of this Law.
2. The foreign entity prescribed in Point b and Point c Clause 1 Article 159 of this Law has obligations of homeowners similarly to Vietnamese citizens provided that he/she comply with following regulations:
a) If the homeowner is a foreign individual, he/she is entitled to lease house(s) for lawful purposes provided that he/she notifies the agency of district in charge of housing where the house is located of housing lease as prescribed in regulations of the Minister of Construction and pays taxes on housing lease as prescribed before leasing houses.
If a foreign individual gets married to a Vietnamese citizen or an oversea Vietnamese, he/she qualifies for stable and long-term homeownership and has all rights of homeowner similarly to Vietnamese citizens;
b) If the homeowner is a foreign organization, its house(s) is/are only provided for their employees but it is not allowed to use their house(s) for lease, offices, or other purposes;
c) They pay off the total amount through credit institutions operating in Vietnam.
