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Q&A Legal basis for issues related to real estate in Vietnam with foreign elements (Part 2)

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Q&A Legal basis for issues related to real estate in Vietnam with foreign elements (Part 2)
Q&A Legal basis for issues related to real estate in Vietnam with foreign elements (Part 2)


6.      What are the procedures for Viet Kieu to buy houses in Vietnam?

Question: I am an overseas Vietnamese who has settled in the US for more than 20 years and is looking to own houses in Vietnam. So please ask, what documents do I need to prove when buying a house in Vietnam?

Answer:

Decree 99/2015 / ND-CP of the Government stipulates that overseas Vietnamese who want to buy houses in Vietnam must have papers in one of the following two cases:

Firstly, if bringing a Vietnamese passport, it must be valid and stamped the entry permit of the entry and exit management body of Vietnam into the passport.

Secondly, if bringing a foreign passport, it must be valid, stamped by the entry and exit management body of Vietnam to enter the passport and enclosed with documents proving the Vietnamese nationality or paper. a certificate of identity of a person of Vietnamese origin, granted by the judicial department of the provinces, centrally-run cities, overseas Vietnamese representative missions and management agencies of overseas Vietnamese; or other documents as prescribed by Vietnamese law.

7.   Can foreign-invested enterprises buy houses in Vietnam?

Question: Please ask, as a legal entity, the company is on a contract of sale, a company of a foreigner who contributes capital to Vietnamese people can buy a house, in what cases?

Answer:

In principle, the organizations with respect to contributed capital are foreign investors, the ownership of houses in Vietnam of this organization shall comply with the provisions of: Point b, Clause 1, Article 159; Clause 2, Article 160; Article 161 of Housing Law year 2014; Article 74, Article 75, Article 76, Article 77 and Article 78 of the Decree 99/2015 / ND-CP October 20, 2015 of the Government detailing and guiding the implementation of a number of articles of the Housing Law.

Therefore, Mr. Dao Dang Minh can compare his case with the provisions of the laws and decrees as mentioned above to exercise his rights in accordance with the law.

8.      If I buy social housing, can I sell it to foreigners after 5 years?

Question: I would like to ask, after 5 years from the time of buying social housing, if I need to resell to foreigners, will the law allow it?

Answer:

Article 159 of the Housing Law 2014 states: "Foreign individuals allowed to enter Vietnam are allowed to own houses in Vietnam through forms of buying, renting, receiving donations, inheriting houses. trade includes apartments and separate houses in investment projects on housing construction, except for areas of national defense and security under the Government's regulations. "

However, the housing law does not stipulate the resale of social housing to foreign individuals from the time the purchaser or buyer of social housing is allowed to sell to those in need.

9.      What are the rules for ownership of apartments with foreign capital?

Question: I signed a contract with a foreign friend to buy and sell a commercial apartment with the investor. According to the investor, the apartment is owned by me and my foreign friend, the sovereignty will be applied as in the case of foreigners buying houses. But now this procedure is the Land Registration Office is suspended, waiting for instructions.

Is the investor responding right or wrong? If so, what is the case of granting the title of apartment ownership? What is the duration of ownership of the apartment?

In case the Certificate of ownership of the apartment is the remaining period of the project, or 50 years (as for foreigners), then after I and my foreign friend transfer it to the individual Other than Vietnamese citizens, is the transferee granted a long-term Stability Certificate?

Answer:

Currently, the housing law only stipulates the recognition of the ownership of houses in Vietnam of foreign individuals or foreign individuals married to Vietnamese citizens in the country (there is no provision for in case foreign individuals contribute capital to Vietnamese citizens to buy and own houses in Vietnam).

Therefore, in this case, the parties may agree to one of the representatives in the name of the Certificate of land use rights, ownership of houses and other assets attached to the land for purchased houses. .

If the representative named in the Certificate is Vietnamese, he / she shall exercise the same rights and obligations as the Vietnamese in the country.

If a foreign individual is named in the certificate, it is the same as for foreign individuals who buy and own houses in Vietnam as stipulated in the Law on Housing 2014 and guiding documents. .

10.      Can foreigners buy houses from Vietnamese individuals?

Question: I have procedures for marriage with foreigners in 2012. By 2016, my wife and I signed a contract to buy an apartment of Phu My Hung Company.

Currently, we are still in the process of payment of contract value, not yet handed over the apartment. However, because my husband and I no longer need to use it, we want to cede this apartment to another foreigner who is in the contract of purchase and sale.

So please ask, does the current regulation allow foreigners to buy a house sold by a foreign individual, or only to buy from the investor? Or can foreigners get home transfers from Vietnamese individuals?

My husband and I have also made a written agreement to divide the common property, in which the apartment is the property bought by my wife and has full ownership. If so, will my wife be allowed to resell this apartment to foreigners?

Answer:

Clause 2, Article 76 of Decree 99/2015 / ND-CP dated October 20, 2015 of the Government detailing and guiding the implementation of a number of articles of the Housing Law: "Foreign organizations and individuals Subject to ownership of houses in Vietnam, they may only purchase and hire purchase houses of investors of projects on construction of dwelling houses and purchase of houses of foreign organizations and individuals specified at Point b, Clause 4, Article 7. of this Decree ”.

Thus, considering the above provisions, individuals who are eligible to own houses in Vietnam can only buy houses from investors or buy from organizations or individuals that have purchased houses in Vietnam. then resell. Foreign individuals are not allowed to buy houses of Vietnamese people.

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