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Can you buy property in vietnam as an american?

The answer is “yes” for the houses. Under Vietnamese law, there are currently no restrictions on the number of houses, units or land they can buy for foreigners. All foreigners who have a Vietnamese visa stamp in their passport are allowed to buy property in Vietnam. Foreigners who are residents of Vietnam are allowed to buy residential houses.

They can own a house, but not the land on which it is built. They have the option of leasing the land from the state. Notary fees Notary fees amount to about 0.06 of the property value. It is a common misconception that foreign citizens or companies cannot own real estate in Vietnam.

However, there are certain conditions that you need to know before buying real estate in Vietnam as a foreigner. Foreign citizens can buy houses to live in Vietnam without establishing a legal entity. The term of a contract to buy a home must not exceed 50 years for the first contract. Foreigners cannot buy land in Vietnam, as is the case in most other Southeast Asian countries.

If an expat has a tourist visa, they can buy property. This is probably due to China’s rising production costs and the trade war with the United States, but mostly due to Vietnam’s economic growth, which is better than any other Asian economy, good governance, political stability, transparency and ease of doing business. While it is no longer necessary to have a work permit or be married to a Vietnamese citizen to buy property, the duration of ownership is limited to 50 years for foreigners. Cekindo is a leading market entry and company secretarial consultancy for clients expanding and operating in Vietnam and throughout Southeast Asia.

In general, I can say that life in Vietnam is remarkably cheap compared to other countries in the region and the world. According to a decree on Vietnam’s Housing Law, foreigners can only own up to 30 of a project’s total housing units and cannot own properties in the special areas reserved for national defence and security. First, the spouse (living in another country) must sign a Vietnamese legal document transferring the property, visit the nearest lawyer or notary to prove the authenticity of the marriage, and then visit a Vietnamese consulate (often in the capital) to have the marriage certificate and passport re-authenticated, and then send these documents to Vietnam. Remember that you must present a Land Use Rights Certificate (LURC) to the Vietnamese government before you can lease the land.

Chesterton, for example, sells 38-year leases for the parkland building, which has been in place for 12 years (the maximum lease term under Vietnamese law is 50 years). If someone living in Vietnam “bought a property in his or her name only and is now trying to sell the property, he or she must legally get the spouse to give up ownership of the property, even if the property is in one name only. It is a typical misconception that foreigners or organisations cannot own property in Vietnam. According to a decree on Vietnam’s Housing Law, foreigners can only own up to 30 er flats in a project and are not allowed to own property in the special areas reserved for national defence and security.

Transfer your money in USD, Euro or other convertible currencies from your bank account abroad to your bank account in Vietnam and then transfer to the seller’s bank account in Vietnamese Dong (the bank will automatically convert your currency to Vietnamese Dong at the current exchange rate). Foreigners can buy up to 30 er units in condominiums and own a maximum share of 10 n the properties in a project. A foreign investor can also invest in Vietnamese real estate by establishing a joint venture company with a local partner or a wholly foreign-owned company, or by establishing a Build, Operate and Transfer (BOT) company or one of its variants. Fill in the form to contact a real estate agent in Vietnam, Malaysia, Thailand or other countries.