Updated: Aug 5, 2020
There is a common misconception that foreign citizens or companies can not own property in Vietnam. However, it is completely possible. But there are specific conditions that you have to know before buying properties in Vietnam as a foreigner.
We have gathered all necessary information in this guide to clarify the possible ways for a foreign investor to acquire assets in Vietnam.
* Can foreigners buy property in Vietnam? * Can foreigners buy land in Vietnam? * Vietnam’s new law to foreign ownership of property * Vietnam’s Land Use Rights (LUR) * Can foreigners buy property from Vietnamese people? * Vietnam real estate foreign ownership * The Pink Book * The process for buying property in Vietnam * Transferring money to Vietnam when buying properties * Foreigner to mortgage a property in Vietnam for a loan * Related taxes & fees * The best places to buy property in Vietnam * Can foreigners rent out a property in Vietnam? * Can Chinese people buy property in Vietnam? * Final Issues on Buying Real Estate in Vietnam
Can foreigners buy property in Vietnam?
Until a few years ago, the Vietnamese government still restricted foreign ownership by their laws. The cap was limited to one unit in a condominium. Therefore, at that time, there were not many foreigners who could invest in Vietnam real estate market.
Nonetheless, since July 2015, thanks to the Vietnamese Law on Residential Housing (LRH), foreigners can buy property in Vietnam at ease.
In other words, you can buy as many properties as you want, as long as you have enough money. This can be considered as a revolution in the regulations of foreign ownership.
Can foreigners buy land in Vietnam?
Like in most Southeast Asian countries, expats can not buy and own any land. As regulated in the constitution, the land is of collective proprietorship by all Vietnamese and governed by the state.
As regulated in the national Land Law, foreign organizations and individuals are able to rent land. Commonly, the validity of the lease can be up to 50 years. However, in exceptional cases, it can be up to 70 years and can even increase to 99 years in 2020.
Even if the stipulations are becoming more and more comfortable, and likely to loosen up in the future, it is still necessary for you to be cautious. For example, there is nothing to guarantee that you can always refresh your rent time.