Foreign residents allowed to buy house in Vietnam
09-OCT-2008 Intellasia | 07/Oct/2008 Thoi Bao Kinh Te Vietnam
Oct 9, 2008 - 7:00:00 AM
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The Ministry of Construction recently released a decree to help overseas institutions and individuals to purchase a house in Vietnam. As per the decree, foreigners who want to own a house in Vietnam must possess a temporary residence certificate or a permanent residence certificate, granted by immigration authorities under the Ministry of Public Securities, for at least 12 months. Foreign investors also need to have an investment certificate for one-year and longer and enterprises need to show investment duration in Vietnam of over one-year.
The draft also states the responsibilities of related organisations such as the Ministry of Construction, the Ministry of Public Securities, the Ministry of Defence and local People Committees in carrying out the decree.
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