Not only Cambodia or Laos where foreigners can purchase the prohibited property. Vietnam is also joined into the various international organizations in THE BEST VIETNAM REAL ASTATE AGENT.
Aqua City In Ho Chi Minh City, Vietnam
1. Those who can acquire real estate in Vietnam
- Vietnamese
- Overseas foreigners in Vietnam (estimated 5 million boat people)
- Foreign organizations and individuals (based on Article 159.1 of the Real Estate Act)
2. Based on Article 159.1 of the Real Estate Law in Vietnam
- Foreign real estate developer (not applicable to the development of single-family homes in rural fishing villages)
- Representative office of a foreign investment corporation office established in Vietnam
- Foreigners allowed to enter Vietnam
3. Foreign Investment Corporation
- The period of ownership is the duration of the investment permit.
- Returned to the Vietnamese government after the validity period of the business registration certificate
- Housing owned by a foreign-invested corporation can only be used for the residence of employees, and cannot be rented to third parties
4. Foreigners working in Vietnam
- Foreigners who have legally entered Vietnam as of 2015.7.01
- Based on the previous law because the previous housing law was not abolished,
- Foreigners who have entered Korea with a valid visa work permit and are restricted to visas of 12 months or longer
- If you do not have a visa or temporary residence card of more than 12 months, it can be interpreted as impossible to obtain
- Foreigners who are employed can rent (when 10% VAT is paid)
5. When foreigners rent and sell
- Whether it is possible to send money overseas after selling the house
- It is unconfirmed whether bank account management and remittance of lease income are possible when returning home after the period of stay
- Tax rate on rental income-Same tax rate as Vietnamese
- Ownership period 50 years (promoted for one extension)
- The published price, which is the basis of the transfer tax, has not been confirmed.
- Undetermined for foreigners who cannot take ownership of their homes when the owner dies
6. Common contents
- Foreigners cannot exceed 30% in 1 project.
- No more than 250 foreigners in the apartment complex
- When buying or selling apartments, a wire transfer must be made through a financial institution.
- Vietnam Enforcement Decree of the November 2015 Revised Housing Act
Advise Your Best Home Choice
Among the newly revised statutes in Vietnam in 2015, among the various amendments such as the Corporate Law and Housing Act, the area where the government's parliamentarians were sharply confronted was whether to allow foreigners to purchase Vietnamese real estate.
The sharply confronted real estate sector also boldly decided to open the door to foreigners. In fact, from 2010 to 2015, the door was opened to foreigners with qualifications to purchase apartments temporarily, but the number of foreigners who purchased apartments using the old regulations was very small. Through this, the government of Vietnam also reduced the need to introduce a system that can conveniently purchase apartments on a daily basis.
4.0 Smart Home
1. Who can buy Vietnam's house?
. The revised Housing Act stipulated that they were foreigners who entered country legally.
. Also, it stated that it is possible to buy a house even if the company has an investment permit.
2. How many houses can I buy?
. In the case of a single apartment, it can be purchased within 30%. The entire building cannot be purchased.
. It can be purchased within 30% of a complex.
. You can purchase up to 250 houses in a complex.
3. How long can you own it?
. For personal purchases, the period of foreigner's ownership is 50 years. It can be renewed.
. In the case of a company, it is the remaining period of permission in the investment permit. It is possible to renew the investment permit.
. You can either sell it to a third party before the end of the permitted period of ownership or renew it with a new period.
. If not renewed, it will be refunded to the Vietnam Treasury.
4. What rights are granted to foreign owners?
. There is a right to purchase, lease, donate, consignment management, exchange inheritance, mortgage, etc.
. In the past, foreigners only had housing rights, but they could also rent.
. Foreigners are prohibited from buying apartments and reselling them commercially.
View to Saigon River
With the recent implementation of the revised housing ordinance, many foreigners are showing interest in investing in real estate in Vietnam.
If you pay attention to foreign exchange management laws and exchange rates in foreigners, and invest in Vietnam, You can expect profits.