All people from other countries who remain in Vietnam with visa that is over 3-month valid can buy houses following Vietnam proposal (except individual who is presently employed in Embassy or non-government officer in Vietnam). They are able to hold house possession for fifty to seventy years.
Building Ministry has sent the are accountable to Vietnam President concerning the implementation status from the proposal No.19/2009/QH12 dated June 3rd 2008 of Vietnam Congress on buying houses in Vietnam of foreign organizations, individual.
People from other countries purchase houses in Vietnam
Foreign organizations and individuals who are 5 kinds of qualified entities in below is going to be allowed to purchase houses in Vietnam:
- A foreigner who invests directly in Vietnam in compliance to investment law or who’s worker or manager of the domestic enterprise or enterprise with foreign owned capital
- A foreigner individual that plays a role in Vietnam and awarded prize with decoration or medal in the President from the Socialist republic of Vietnam or perhaps a foreigner who contributes special contribution accordant with Government’s or President’s decisions
- A foreigner individual that is presently operating in socio-economic sector having a college or equivalent diploma and that has technical understanding or technical skills being appropriate for Vietnam request.
- An overseas individual that married to some Vietnamese residence.
- A business that is invested by foreign finance presently operating in Vietnam in compliance to investment law which has no purpose of real estate business and being looking for residential houses for anyone working at the organization.
Additionally, Building Ministry has recommended 2 options about term of possession, such as half a century by having an extension permitted, and yet another 70 years with no extension. Additionally they suggest that foreign organization and individual is going to be permitted buy both apartment building and stand-alone house (including rental property and stand-alone house). For the reason that situation of stand-alone house, it’s not over to 500 meters in square. The cost to purchase houses of organizations or individual is going to be obeyed with stipulation by President.
Building Ministry also implement right about cooperation from a foreigner (who buy houses) and investor (who purchase house) to sublet or buy or make use of the house purchased.
Possess a nice day !
By Vietnam-evisa.org team
Source from: site of Secretary of state for Jusstice
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Jonathan Bast: Do you have any experience investing in Caribbean property? If so, do you have any advice that you would give to someone thinking about going into that market? If not, would you suggest any YouTube coaches that specialize in international property investments?
samuel hailu: Thanks Bro, you have raised such a good issue.