How foreign organizations to purchase apartments in VN
VGP – Foreign-invested companies which are doing business in Việt Nam under the Law on Investment but not engage in real estate business are eligible to purchase apartments for their staff.
Question (A Vietnamese employee
working for a Japanese-owned company): After five years of operation, my
company which was licensed to operate here for 50 years, has recruited over 100
employees. Now, the company needs to rent houses for its foreign experts. Does
the State of
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Answer (Lawyer Đỗ Như Quát, Hồ
Under Resolution 19/2008/QH12, dated on June 3, 2008, on pilot
permission for foreign organizations and individuals to buy and own houses in
Việt
* Procedures for purchase and sale
of houses
The purchase and sale of houses must be conducted under contracts in
accordance with the Vietnamese law. Contracts on house purchase and sale must
be made in Vietnamese.
* A dossier of
application for a house ownership certificate comprises:
- Application form;
- Copies of papers evidencing that enterprises are eligible
to invest in Việt
- The original contract on house purchase and sale;
- Papers evidencing the house ownership of the seller;
- Receipts of tax and fee payment.
On June 3, 2009, the Government has issued
Decree 51/2009/ND-CP guiding the implementation of a number of articles of the
National Assembly’s Resolution 19/2008/QH12. The decree came into effect sine
August 1, 2009. Accordingly, different types
of foreign individuals and organizations are eligible to purchase and own houses
in Việt Nam, including those who (a) have directly invested in Việt Nam or are
employed by a Việt Nam-based company for management purpose; (b) get married with
Vietnamese citizens; (c) have great contribution to Việt Nam and are honored
by the Vietnamese President; (d) are working in important fields and have
proper academic certificates; (e) holds special knowledge and/or skills as
required by the State of Việt Nam; and (f) currently invest and operate in Việt
Nam (except for real estate business) and have the need of accommodation for
their staffs. |