SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom- Happiness
Hanoi, June 3, 2009
Guiding a number of articles of the National Assembly’s Resolution No. 19/2008/QH12 dated June 3, 2008, on pilot permission for foreign organizations and individuals to purchase and own houses in Vietnam
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the National Assembly's Resolution No. 19/2008/QH12 dated June 3, 2008, on pilot permission for foreign organizations and individuals to purchase and own houses in Vietnam;
At the proposal of the Minister of Construction,
Scope of regulation
This Decree details and guides papers evidencing foreign organizations and individuals eligible to purchase, inherit, be donated or own houses and conditions they must satisfy; the order of and procedures for the grant of house ownership and residential land use right certificates to foreign organizations and individuals allowed to own houses in Vietnam; the handling of violations, and responsibilities of concerned agencies for implementing the National Assembly's Resolution No. 19/2008/QH12 of June 3, 2008, on pilot permission for foreign organizations and individuals to purchase and own houses in Vietnam (below referred to as Resolution No. 19/2008/QH12).
Subjects of application
This Decree applies to foreign organizations and individuals working and operating in Vietnam, including:
1. Foreigners defined in Clauses 1, 2, 3 and 4, Article 2 of Resolution No. 19/2008/QH12 who purchase, are donated, inherit or own houses in Vietnam.
2. Foreign-invested enterprises not engaged in real estate business that are eligible to purchase and own houses in Vietnam as defined in Clause 5, Article 2 of Resolution No. 19/2008/QH12.
Interpretation of terms
In this Decree, the terms below are construed as follows:
1. Foreigner means a person having no Vietnamese nationality;
2. Foreign-invested enterprise means an enterprise established by a foreign investor to conduct foreign investment activities in Vietnam, or a Vietnamese enterprise of which a foreign investor purchases shares or which is merged or acquired by a foreign investor for direct management under Vietnamese law;
3. Condominium apartment under a project on the development of commercial houses of a real estate enterprise means a condominium apartment built by a real estate enterprise under a project approved by a competent agency for sale or lease at market price;
4. An individual's condominium apartment under a project on the development of commercial houses means an available apartment an individual has purchased under a project on the development of commercial houses and for which he/she has been granted a house ownership certificate under law.
1. Forging dossiers or papers evidencing the eligibility and conditions for purchasing, inheriting being donated or owning houses.
2. Purchasing or selling condominium apartments in areas in which foreigner residence or travel restricted or banned, or purchasing houses other than condominium apartments under projects on the development of commercial houses.
3. Purchasing condominium apartments from real estate companies not on a real estate trading floor as prescribed by the law on real estate business.
4. Owning more than one condominium apartment in case of being allowed to own only one apartment at a time of residence in Vietnam.
5. Using houses for lease or other purposes or for conducting activities in violation of Vietnamese law.
6. Dismantling, renovating or maintaining houses in contravention of Vietnamese law.
7. Conducting house-related transactions in contravention of Resolution No. 19/2008/QH12 and Vietnamese law.
PAPERS EVIDENCING ELIGIBILITY AND CONDITIONS FOR PURCHASING AND OWNING HOUSES IN VIETNAM
Papers evidencing foreigners' eligibility and conditions for purchasing, inheriting, being donated or owning houses in Vietnam
1. Papers evidencing eligibility for purchasing, inheriting, being donated or owning houses in Vietnam
A foreigner must possess a passport or a paper of passport substitute validity (below collectively referred to as passport), granted by a competent foreign agency, enclosed with any of the following papers:
a/ A foreigner who enters to make direct investment in Vietnam must be named in the investment certificate or an appropriate paper on investment activities granted by a competent Vietnamese agency (below collectively referred to as investment certificate), which remains valid for at least one year, or possess a paper evidencing that he/she is a member of the board of directors or management board of an enterprise operating in Vietnam;