Vietnam decree for owing house in Vietnam for foreigners
From July 1st 2015, all foreigners have over 3 month visa allowed to own any property for a maximum of 50 years and enjoy the same rights to lease transfer or sell the property as Vietnamese citizens
This policy will attract more foreign investment without jeopardizing national security.
- Foreign property owners will also be subject to the nation's property taxes
- Foreigners who have a valid visa; foreign investment funds, banks; Vietnamese branches and representative offices of overseas companies are eligible to buy house in Vietnam
- Foreigners can already buy property to house, but they are not able to lease or use it toward any other purpose.
- Foreign property can be put out to lease but must also inform the provincial house management agency before leasing the property.
- Foreigners can extend their home ownership after 50 years, according to their need
- Foreigners can buy a maximum of 30 percent of apartments in a block and 250 houses in a given ward.
- They are allowed to buy, receive, or inherit apartments and houses in commercial projects and not in areas that limit or ban foreigners
- Foreign entities who have invested in housing projects in Vietnam which will all be entitled to purchase real estate under the law
- The properties owned by foreigners can be sub-leased, traded, inherited and collateralized.