The Hanoi Department of Construction has just announced a list of 8 housing projects in the city that will allow foreign organizations and individuals to own in 2022, including:
Tay Ho District: Project of high-rise housing combining commercial services and low-rise housing at land lot CT01 Nam Thang Long urban area, High-rise apartment complex combining trade and service and low-rise housing in the land lot CT02A Nam Thang Long urban area.
Long Bien District: High-rise apartment building block HH4 and HH5 belonging to Khai Son City project, Project to build high-rise housing for sale at plot CT7, Phuc Dong ward.
Bac Tu Liem District: High-rise housing project N03-T3&T4 Diplomatic Corps, Low-rise housing project in plot TT6-2 in Tay Tuu urban functional area. Read More
According to Clause 1, Article 75 of Decree 99/2015/ND-CP, foreign organizations and individuals are only allowed to own houses (including apartments and separate houses) in investment projects on housing construction. commerce, except for areas where national defense and security are ensured in accordance with Vietnamese law. Accordingly, foreign individuals do not have the right to use land in Vietnam, that is, foreigners will not be able to buy land or buy the whole house.
Regarding house ownership, Point b, Clause 2, Article 159 of the Law on Housing 2014 stipulates: Foreign individuals can only own houses in Vietnam through the following forms: “b) Buy, rent-purchase, receive as gifts. give or receive inheritance of commercial houses, including apartments and separate houses in housing construction investment projects, except for areas ensuring national defense and security as prescribed by the Government.”
Thus, foreigners are allowed to buy apartments and separate houses, but they must be in the area of commercial housing investment projects, except for areas ensuring national defense and security as prescribed. In other words, foreigners are still allowed to buy individual houses but are limited in geographical area, security and defense. The areas for ensuring national defense and security in each locality shall be determined by the Ministry of National Defense and the Ministry of Public Security and notified in writing to the People’s Committees of provinces and centrally run cities for use as a basis for directing the Department of Construction to identify specifying a list of investment projects to build commercial houses in the area, allowing foreign organizations and individuals to own houses.
Please contact a lawyer of Minh Anh Law Firm for advice to help limit risks when buying real estate in Vietnam
Over the past 10 years, Vietnam has always been the top destination for foreign investors from Korea, Japan, Hong Kong, Taiwan, China, USA, EU, etc.
In order to be able to implement production projects in Vietnam, foreign investors must be granted an “investment certificate” by the Vietnamese government (required for investors with foreign capital). Investors must lease land in industrial parks, economic zones and industrial clusters in accordance with the planning of investment lines.
Therefore, for new investors, especially investors from abroad, the preparation, survey and respect for the law in the host country in Vietnam are vital and affect the effectiveness of the project. investment project results. Therefore, law firm Inco Minh Anh (Trustconsulting) has launched a free website kland.vn for us to provide services related to survey and real estate search in industrial zones. Based on the friendly interface of kland.vn, clear parameters provide preliminary information to help investors quickly access the land fund, find the location of the industrial park, and the parameters of the industrial park online on the map. thing, …
For more in-depth advice, the lawyers of Inco Minh Anh law firm will accompany you to advise on choosing an industrial park that is suitable for the investor’s goal – the manufacturing industry. find an industrial park that is geographically located near the source of raw materials, easily hires labor, or an industrial park that allows investors to operate an export processing business. Consulting to select a land plot in the industrial park suitable to the scale, with wastewater treatment infrastructure, the foundation to ensure the rigidity and load capacity required by the technology line. Most importantly, the industrial park still has land to hand over and has a time when handing over and putting into use in accordance with the investor’s production schedule. Read More
- Are foreign Individuals (FIs) allowed to own houses in Vietnam? What are the forms of ownership?
- What kinds of houses that can be sold, leased, donated or inherited for foreign persons?
- Are foreign persons allowed to get house ownership on residential land – on which Vietnamese have been living for a long time?
- What are the proportion and number of apartments, houses that foreign persons are allowed to own?
- What are the conditions for Fis to own a house in Vietnam?
- What kinds of taxes and fees applied for foreigners for buying houses?
- What kind of taxes and fees applied for foreigners for selling their houses?
- Whose houses can Fis buy?
- What are the rights of Fis in respect of ownership?
- What are the limitations for Fis when own housing in vietnam?