Conditions for foreigners to own a house in Vietnam

Lawyer Nguyen Thu Thuy, YouMe Law Company Limited replied:

Clause 1, Article 17 of the Housing Law 2023 (effective from August 1, 2024) regulates foreign organizations and individuals who can own housing and forms of housing ownership in Vietnam as follows:

1. Foreign organizations and individuals allowed to own houses in Vietnam include:

a) Foreign-invested economic organizations investing in housing construction projects in Vietnam according to the provisions of this Law and other relevant laws

b) Economic organizations with foreign investment capital, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam (hereinafter collectively referred to as foreign organizations);

c) Foreign individuals are allowed to enter Vietnam.

Article 18 of the Housing Law 2023 stipulates the conditions for foreign organizations and individuals to own housing in Vietnam as follows:

1. For economic organizations with foreign investment capital specified in Point a, Clause 1, Article 17 of this Law, they must be investors of housing construction investment projects according to the provisions of this Law and the law. about real estate business.

2. For foreign organizations specified in Point b, Clause 1, Article 17 of this Law, they must have an Investment Certificate or Investment Registration Certificate or documents related to being allowed to operate or established in Vietnam and still valid at the time of signing the housing transaction (hereinafter referred to as investment certificate) issued by a competent Vietnamese state agency in accordance with the provisions of law.

3. Foreign individuals specified in Point c, Clause 1, Article 17 of this Law must not be eligible for diplomatic and consular privileges and immunities according to the provisions of law.

Thus, foreign individuals who are allowed to enter Vietnam and are not eligible for diplomatic or consular privileges and immunities according to the provisions of law are allowed to own houses in Vietnam according to regulations. stated above.