1. Eligibility Requirements:
Both foreign individuals and organizations can own property in Vietnam, but they must meet the following prerequisites:
- Foreign individuals: Must hold a valid passport with an entry stamp issued by Vietnamese immigration authorities and not enjoy diplomatic or consular privileges.
- Foreign organizations: Includes foreign-invested enterprises (FDI), branches, representative offices, or legally operating foreign investment funds in Vietnam with a valid IRC/ ERC.
2. Comparing Ownership: Individuals vs Organizations
The main differences are in usage purpose and ownership term recorded on the Ownership Certificate:
3. Ownership Types and Legal Limitations
Whether individual or organization, transactions must comply with the following limitations:
- Property type:
+ Apartments: In commercial housing projects.
+ Individual houses: Only in housing development projects; cannot purchase standalone houses in existing residential areas.
- Ownership caps:
+ Max 30% of apartments per building.
+ Max 250 individual houses per ward.
- Ownership term:
+ Individuals: max 50 years, extendable.
+ Organizations: as per project duration.
4. Additional Important Notes
- Inheritance/Gift:
If inherited or gifted property is not eligible for foreign ownership (e.g., standalone houses outside projects), the foreign owner can only claim its monetary value after the property is sold.
- Payment:
All transactions must be conducted through legally operating credit institutions in Vietnam.
- Expiry handling:
Three months before expiry, owners must apply for extension or sell/gift the property. Otherwise, ownership automatically reverts to the State.
