A Guide to Property Ownership for Foreigners in Vietnam

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In recent years, Vietnam has attracted foreign investors with its rapidly growing economy and vibrant real estate market. However, there are legal restrictions and procedures that must be understood before acquiring property in Vietnam.

Land Ownership vs. Usage Rights

In Vietnam, all land belongs to the state. Foreigners cannot own land outright, but they can obtain land use rights for residential purposes, typically granted for 50 years, extendable to 70 years in certain cases.

Conditions for Foreign Property Ownership

Foreigners can own property under the following conditions:

• They can only purchase apartments or villas in commercial residential projects.
• They may not own more than 30% of the total units in any one apartment building.
• In a given residential area, they may own up to 250 houses.
• Property rights are limited to 50 years (renewal possible).

Property Purchase Process

• Find a suitable property and negotiate the price

• Sign a deposit agreement
• Conclude a Sale and Purchase Agreement (SPA)
• Complete payments and tax obligations
• Obtain the “pink book” (ownership certificate)

Taxes and Fees

• VAT (10%)
• Registration and notary fees
• Maintenance and management fees
• Annual property taxes

Residency and Citizenship

Owning property in Vietnam does not grant automatic residency or citizenship. However, property owners can apply for a temporary residence permit, usually valid for 1–3 years and renewable.

Conclusion

Foreigners can own property in Vietnam under clear regulations. With proper planning and legal support, it can be a profitable and secure long-term investment.

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