A draft decree guiding the enforcement of the Housing Law, focusing on overseas Vietnamese’s right to buy and own homes in Vietnam, is being finalized by the Construction Ministry for submission to the Government.
The most important content of the decree is provisions on papers evidencing overseas Vietnamese’s eligibility for owning a home in Vietnam.
Accordingly, persons holding Vietnamese citizenship must have a valid Vietnamese passport. If they bear foreign passports, they must have any of papers evidencing their Vietnamese citizenship as prescribed by the citizenship law. Persons of Vietnamese origin would be required to produce their foreign passports, enclosed with a copy of the decision permitting renunciation of Vietnamese nationality, the written certification of loss of Vietnamese nationality or certification of Vietnamese origin.
The draft paper also underlines that overseas Vietnamese holding Vietnamese citizenship would have the right to own homes in Vietnam, without any quantitative cap. Homes to be owned by overseas Vietnamese are those they purchase from or exchange with others or those they receive as gifts or inheritance. Overseas Vietnamese may also build homes for themselves and their families on land transferred from real estate businesses.
As for persons of Vietnamese origin, they would be eligible for home ownership like persons holding Vietnamese citizenship if they make direct investment in Vietnam, have made meritorious contributions to the country; are cultural activists, scientists or persons with special skills; or are spouses of Vietnamese citizens who reside in the country.
Overseas Vietnamese of other categories would be allowed to own a house or an apartment in Vietnam if they obtain a visa exemption paper issued by a competent Vietnamese authority.