Answer:
For foreigners to be able to buy houses in Vietnam, they must meet the following conditions:
1. Regarding the subject
Pursuant to Article 8, Point c, Clause 1, Article 17, Clause 3, Article 18 of the 2023 Housing Law and Point c, Clause 2, Article 3 of Decree 95/2024/ND-CP detailing a number of articles of the Housing Law, the following provisions are made on the subject:
Provisions in the 2023 Housing Law:
“Article 8. Eligible entities and eligibility for owning houses in Vietnam
1. Entities eligible for owning houses in Vietnam include:
a) Domestic organizations and individuals;
b) Overseas Vietnamese in accordance with nationality laws;
c) Foreign organizations and individuals in accordance with Clause 1 Article 17 hereof.
2. Eligibility for owning houses in Vietnam include:
a) Domestic organizations and individuals may own houses via investment and construction, purchase, lease purchase, gifting, inheritance, capital contribution, change of ownership, reception of relocation houses as per the law and other means as per the law;
b) Overseas Vietnamese permitted to enter Vietnam may own houses associated with residential land use right in accordance with land laws;
c) Foreign organizations and individuals may own houses via means under Clause 2 Article 17 hereof.
3. The Government shall specify documents proving the subjects and conditions for owning houses as prescribed in this Article.”
“Article 17. Foreign organizations, individuals allowed to own houses and form of house ownership in Vietnam
1. Foreign organizations, individuals allowed to own houses in Vietnam include:
c) Foreign individuals allowed to enter Vietnam.”
“Article 18. Eligibility for foreign organizations, individuals to own houses in Vietnam
3. Foreign individuals under Point c Clause 1 Article 17 of this Law do not benefit from diplomatic, consular privileges and immunities as per the law.”
Stipulated in Decree 95/2024/ND-CP:
“Article 3. Papers proving subjects entitled to and conditions for ownership of houses in Vietnam
2. Papers proving an individual entitled to own houses in Vietnam are specified as follows:
c/ A foreign individual must have a foreign passport and a written commitment that he/she is not entitled to diplomatic or consular privileges and immunities.”
In addition, foreign individuals must also satisfy the entry conditions stipulated in Article 20 of the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam 2014, amended and supplemented in 2019.
2. Regarding the conditions for ownership forms and documents proving the conditions for housing ownership
According to Clause 2, Article 17 of the Housing Law 2023, the forms of housing ownership are stipulated as follows:
“Article 17. Foreign organizations, individuals allowed to own houses and form of house ownership in Vietnam
2. Foreign organizations and individuals specified in Clause 1 of this Article are allowed to own houses in Vietnam, including apartments and individual houses through the following forms:
a) The implementation of housing investment and construction projects in Vietnam in respect of organizations under Point a Clause 1 of this Article;
b) Purchasing, lease-purchasing commercial housing properties of developers of housing investment and construction projects, receiving gift, inheriting commercial housing properties in housing investment and construction projects in areas without strict national defense and security requirements in accordance with Article 16 hereof in respect of organizations and individuals under Point b and Point c Clause 1 of this Article;
c) Purchasing, lease-purchasing houses previously owned by foreign organizations and individuals in accordance with Point b of this Clause in respect of organizations and individuals under Point b and Point c Clause 1 of this Article.”
Simultaneously, Point d, Clause 3, Article 3 of Decree 95/2024 provides guidance on foreign individuals having a valid passport with an entry stamp into Vietnam or equivalent legal documents to enter Vietnam at the time of signing a housing transaction
“Article 3. Documents proving the subjects and conditions for owning houses in Vietnam
3. Documents proving the conditions for owning houses are stipulated as follows:
d) For foreign individuals, they must have a valid passport with an entry stamp into Vietnam or equivalent legal documents to enter Vietnam at the time of signing a housing transaction as prescribed in Point b, Point c, Clause 2, Article 17 of the Housing Law.”
3. Regarding the conditions on the number of apartments or houses that foreigners are allowed to own
Pursuant to Clause 1, Article 7 of Decree 95/2024, foreign individuals are allowed to own no more than 30% of the number of apartments in an apartment building. If they are individual houses including villas and townhouses, in an area with a population equivalent to a ward, they are only allowed to buy, rent-purchase, receive gifts, receive inheritances and own no more than 250 houses.
“Article 7. Management and ownership of houses by foreign organizations and individuals in Vietnam
1. Information posted on the electronic information portal of the provincial housing management agency as prescribed in Clause 4, Article 4 of this Decree includes:
a) Number of houses (including apartments and individual houses) in each housing construction investment project located in the area that foreign organizations and individuals are allowed to own; number of apartments in each apartment building, number of individual houses of the project that foreign organizations and individuals are allowed to own;
b) Number of houses that foreign organizations and individuals have purchased, leased, and have been granted Certificates in each housing construction investment project;
c) Number of individual houses that foreign organizations and individuals are allowed to own in the case where in an area with the population specified in Clause 1, Article 5 of this Decree there are many housing construction investment projects with individual houses.”