Can Koreans living in Vietnam purchase a house?
Can Koreans living in Vietnam purchase a house? Can foreigners buy land in Vietnam? My Korean husband has been living and working in Vietnam for over six months. Can my husband buy and name a house in District 3? Is it also possible for my husband to purchase the land?
<subquestion>Can Koreans living in Vietnam purchase a home?</subquestion>
Pursuant to Article 159 of the Law on Housing 2014 stipulates foreign entities eligible for the homeownership in Vietnam and forms of the homeownership in Vietnam relating to foreign entities as follows:
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.
The foreign entities eligible for the homeownership in Vietnam if they:
a) Invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;
b) Buy, rent and purchase, receive, or inherit commercial housing including apartments and separate houses in the project for housing construction, except for areas under management relating to national defense and security as prescribed in regulations of the Government.
In addition, Clause 3, Article 160 of this Law stipulates Requirements pertaining to foreign entities eligible for the homeownership in Vietnam as follows:
The foreign entity prescribed in Point c Clause 1 Article 159 of this Law is required to have a permission to enter Vietnam and he/she is not granted diplomatic immunity and privileges as prescribed.
In Clause 2, Article 161 of this Law stipulates Rights of foreign entities as homeowners:
If a foreign individual marries 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;
Because your husband has settled in Vietnam for 6 months, he has met the conditions to own a house.
<subquestion>Can foreigners buy land in Vietnam?</subquestion>
Pursuant to Article 5 of the 2013 Land Law stimulates land users:
Land users may be allocated land or leased land, have land use rights recognized by the State, or acquire land use rights in accordance with this Law, including:
1. Domestic organizations, including state agencies, people’s armed forces units, political organizations, socio-political organizations, economic organizations, socio-politico-professional organizations, social organizations, socio-professional organizations, public non-business organizations, and other organizations as prescribed by the civil law (below referred collectively to as organizations).
2.Domestic households or individuals (below referred collectively to as households or individuals).
3.Communities, including Vietnamese communities residing in the same village, street quarter or similar residential area sharing the same customs and practices or the same family line.
4.Religious institutions, including pagodas, churches, oratories, chancels, monasteries, abbeys, religious schools, head offices of religious organizations, and other religious institutions.
5.Foreign organizations with diplomatic functions, including diplomatic representative missions, consulates, other foreign representative agencies with diplomatic functions recognized by the Vietnamese Government, representative missions of organizations of the United Nations, inter-governmental agencies or organizations, and representative missions of inter-governmental organizations.
6.Overseas Vietnamese as prescribed by the nationality law.
7.Foreign-invested enterprises, including 100% foreign-invested enterprises, joint-venture enterprises, Vietnamese enterprises in which foreign investors purchase shares, merge or acquire in accordance with investment law.
