Vietnamese Congress has passed the clauses that allow foreign organizations and individuals to own houses in VN from July 01, 2015.
According to Article 159 of the new Housing Law, organizations and individuals to own houses in Vietnam consists of three groups:
Firstly, organizations and individuals to invest in housing construction project in Vietnam under the provisions of this Act and related legislation;
Second, enterprises have invested abroad, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam (hereinafter referred to as organization foreign officials);
Third, individuals are allowed to enter Vietnam.
Besides, it also rules about organizations and individuals to own houses in Vietnam through the following forms:
a) Investment in housing construction project in Vietnam under the provisions of this Act and related legislation;
b) Purchasing, leasing, donation or inheritance commercial housing including apartments and individual houses or build houses on the land in the subdivision permitted in construction projects housing, except for areas to ensure defense and security as stipulated by the Government.
Kim Ngan lawyer office, with the experience in performing housing transactions for foreigners, is a reliable place for customers wishing to purchase houses in Vietnam. We offer step by step advices. We can also represent the customers to perform all procedures from A-Z until the customers receive the certificate (pink book / red book). Just contact us with the numbers below.