Question: I am a Singapore currently on a holiday trip in Vietnam, I am planning to buy a plot of land located in Hochiminh City. Does the current Vietnamese property laws permit foreigners to buy and own land in Vietnam?
Answer: Currently, Vietnam Law does not allow foreigner to buy land lot in Vietnam. However, foreigners who satisfy one of following conditions can own one house in Vietnam:
– Foreigner being a person investing in Vietnam. You shall be asked to provide an investment certificate that proves you are involved in business activities in Vietnam. The expiration date of the certificate should be at least 12 months after acquiring the property. Or, you have to provide proof that you are a board member of management of a firm operating in Vietnam.
– Foreigner being a person awarded by Vietnamese government. You must provide a medal awarded from the Vietnamese government
– Foreigner holding a diploma in a useful sector for the country. You have to provide proven qualifications.
– Foreigner being married to a Vietnamese individual. You must present your marriage certificate
We also would like to note that the house must be for residence of the Owner only, not for lease.
