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Vietnam Property Foreign Ownership Guide

Posted by Editor on September 3, 2018
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About Vietnam

Vietnam ranks as the 14th-most-populated country in the world with a population of 91.7 million as of 2015. It is also the 8th-most-populated country in the Asian region.

The fast-growing country is strategically located – bordered by China to the north, Laos to the northwest, Cambodia to the southwest and Malaysia across the South China Sea to the southeast.

Since the reunification of North and South Vietnam in 1975, Hanoi has established and remains as Vietnam’s Capital City till this day.

vietnam property map

General Facts on Vietnam

Main Capital: Hanoi
Largest City: Ho Chi Minh City
Official Language: Vietnamese
Currency: Dong (VND) (US$1 : VND 22,000)
Population: 91,700,000 (14th in the world)
GDP Growth:
Average 6.68% on 2015
Key Industries:
Agriculture, fishery, forestry, Energy, mining & minerals, Industry & manufacturing, Services & tourism, Banking & finance.
Main Export Countries:
  • United States
  • China
  • Hong kong
  • Japan
  • South Korea
  • India
vietnam property foreign ownership law

Vietnam Property Foreign Ownership Guide

Can foreigners buy property in Vietnam? Since the newly reformed Vietnamese Law on Residential Housing (LRH) Officially kicked-off in 1st July 2015, several major past restrictions on property ownership have been removed for foreigners.

Here are the LATEST UPDATES on Vietnam Property Foreign Ownership Law Investors Need to Know:

Individuals:
Foreign individuals are eligible to buy residential properties in Vietnam, as long as they can enter the country legally.

Entities:
All legal entities like foreign investment funds, banks, Vietnamese branches and representative offices of overseas companies that are established in Vietnam; are eligible to buy Vietnam properties.

Types:
The new Residential Housing Law allows eligible foreign entity and individuals to buy and own all residential sectors including apartments and landed properties such as villas and townhouses (previously only applicable to apartments).

Foreigner Quota Restrictions:
(i) Foreigners can own not exceeding 30% of the total units within one condominium complex;
(ii) and not exceeding
10% for the total number of the separate houses for each project.

Purpose of Purchase:
The properties owned by foreigners can be sold, sub-leased, inherited and collateralize (previously only for owner occupying purpose).

Land Tenure
(i) Foreign Individuals: up to 50 years leasehold from the date of issuance of ownership certificate  + possible renewal (subjected to approval by authorities.)

(ii) Foreign Individuals + Vietnamese spouse: Freehold

(iii) Foreign organizations: up to the duration (inclusive of extended duration) indicated in the investment certificate.

Vietnam Property Investment Opportunities:

De La Sol by Capitaland – District 4, Ho Chi Minh City. Launching Soon in May 2018. Register Interest Now.

New City Thu Thiem – Binh Khanh Ward, District 2, Ho Chi Minh City. 2 Bedroom from S$17xK.

The View Riviera Point by Keppel Land – District 7, Ho Chi Minh City. Expatriates favourite.

Vista Verde by Capital Land – District 2, Ho Chi Minh City

Estella Heights by Keppel Land – District 2, Ho Chi Minh City

Seasons Avenue by Capital Land – Hanoi, Ha Dong district.

What are the Taxes Involved in the Vietnam Property Foreign Ownership?

The following taxes are applicable to property sales transactions:

Value Added Tax (VAT):
10% VAT is taxed on any sale of property by local or foreigners.

Registration Tax for Ownership:
0.5% registration tax for obtaining the house ownership certificate on the apartment value.

Personal Income Tax (For Resale):
If personal income is earned through the assignment or resale of apartments or houses, a 2% personal income tax has to be paid on the transacted value.

Personal Income Tax (for Rental Income)
If personal income is earned through rental of house/apartment, 5% VAT and 5% PIT has to be paid on revenue.

For rental income exceeding VND 1,500,000 per month, a business license tax of VND 1,000,000 (approx US$45) per year applies.

Administration Fee:
A minimal administration fee is to be granted an ownership certificate at the current regulation.

Looking for Overseas Property Investment Opportunity?

Speak to our International Property Consultant today!

WhatsApp Andrew Tan +65-94361903 for Recommendations & Latest Update!

Thailand • Cambodia • Vietnam • Malaysia • UK • Singapore

www.LuxuryProperty.sg

Condo For Sale

De La Sol Capitaland Vietnam

From US$ 180,000
De La Sol by Capitaland. Located in District 04 of Ho Chi Minh City, Vietnam.
De La Sol by Capitaland. Located in District 04 of Ho Chi Minh City, Vietnam.
Condo For Sale
New Launch

New City Thu Thiem

From SGD $ 170,000
New City @ Thu Thiem Ho Chi Minh City, Vietnam. Open for Booking!
New City @ Thu Thiem Ho Chi Minh City, Vietnam. Open for Booking!

Disclaimer: This article is meant for reference and educational purposes only and is not meant to provide tax advice of any kind.  All information, especially taxes & property ownership laws, are subjected to changes and no responsibility shall be held on the accuracy. All sorts of property investments comes with risk and investors are expected to perform their own due diligence before committing into any purchase.

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De La Sol by Capitaland – District 4, Ho Chi Minh City. Launching Soon in May 2018. Register Interest Now.

New City Thu Thiem – Binh Khanh Ward, District 2, Ho Chi Minh City. 2 Bedroom from S$17xK.

The View Riviera Point by Keppel Land – District 7, Ho Chi Minh City. Expatriates favourite.

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Looking for Overseas Property Investment Opportunity?

Speak to our International Property Consultant today!

WhatsApp Andrew Tan +65-94361903 for Recommendations & Latest Update!

Thailand • Cambodia • Vietnam • Malaysia • UK • Singapore

www.LuxuryProperty.sg

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