1. Foreign organizations and individuals are entitled to own houses in Vietnam
Conditions for foreign organizations and individuals to own houses in Vietnam
For foreign organizations and individuals invest in building houses under projects in Vietnam in accordance with the provisions of law, they must have investment certificates and have houses built in the project in accordance with the provisions of law;
A foreign organization must be an entity specified in Article 159 of the Law on Housing which has investment registration certificate or a permission issued by a Vietnam’s competent authority for operation in Vietnam which is still unexpired at the time of housing transaction (hereinafter referred to as investment registration certificate)
A foreign individual must have an unexpired passport bearing the entry seal of the Vietnam’s immigration authority and not given diplomatic immunity and privileges according to Ordinance on diplomatic immunity and privileges of diplomatic missions, consular offices, and representative authorities of international organizations in Vietnam.
2. Rights and obligations of housing owners being foreign organizations and individuals
Rights of housing owners
– Enjoy inalienable rights to his/her lawful housing;
– Use the housing for residential purposes and other purposes not prohibited by regulations of law;
– Obtain the Certificate of the house(s) under their lawful homeownership as prescribed in this Law and law on land;
– Sell housing or transfer the agreement on housing purchase, lease , lease and purchase, gifting, exchange, inheritance, mortgage, capital contribution, lending, permission for stay, or authorize housing management ; if the agreement on housing gifting or inheritance is concluded with an entity ineligible for the homeownership in Vietnam, such entity is only entitled to the value of the house;
– Share the public utilities in that residential area as prescribed in this Law and relevant regulations of law.
– In case a foreigner is the owner of an apartment building, he/she shall have the common ownership and use rights to the common ownership of the condominium and the infrastructure works used in the common use of such apartment building, except for works built for business or must be handed over to the State in accordance with the provisions of law or as agreed upon in the purchase and sale contract, leases for the purchase of housing;
– Maintain, renovate, demolish and rebuild his/her house as precribed in regulations of law;
– Receive the compensation as prescribed in regulations of law or payment according to fair market price when their house is demolished, imposed compulsory purchase order, or commandeered by the State for national defense and security purposes; for socio-economic development purposes, or in the state of war, state of emergency, or disaster situations;
– File complaints, denunciation, or lawsuits over violations against their lawful ownership and other violations against law on housing.
– In case of building houses on leased land, they are only entitled to rent houses.
Obligations of foreigners when owning houses in Vietnam.
– Use the house for proper purposes as prescribed; compile and store documents on their house;
– Comply with regulations on fire safety, hygiene, environment, social safety and order as prescribed;
– Comply with regulations on housing sale or transfer of agreements on housing sale, housing lease, lease purchase, gifting, exchange, inheritance, mortgage, capital contribution, lending, permission for stay, or authorization of housing management; and comply with the Law on marriage and family when the house which is matrimonial property is transacted.
– Comply with regulations of law and do not cause damages to benefits of the State, public, or lawful rights and interests of other households or individuals when their house is maintained, renovated, demolished, or rebuilt; if the homeowner is eligible for fix-term homeownership prescribed in Law on Housing, the house shall be renovated or demolished under the agreement between contracting parties;
– Purchase insurance against fire pertaining to the house subject to insurance against fire as prescribed in law on fire safety and law on insurance business;
– Implement effective decisions on actions against violations, disputes, complaints, or denunciation of housing, housing compensation, relocation, or demolishment made by the competent agency when the State withdraws their land, conducts land clearance, imposes compulsory purchase orders;
– Enable related entities and competent persons to carry out the inspection, observation, or maintenance of equipment systems, technical infrastructure, or common areas;
– Fulfill financial obligations to the State when their homeownership is recognized, their transactions are conducted and over the period in which the house is used as prescribed.
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