On June 30, 2016, Ministry of Construction issued Circular No. 19/2016/TT-BXD guiding on implementing some articles in Law on Housing and Decree No. 99/2015/NĐ-CP on October 20, 2015 of the Government provides guidelines for some articles of Law on Housing. Accordingly, this Circular guides for ownership of housing in Vietnam of foreign entities as follows:
– With regard to an apartment building (even apartment for mixed using purposes), foreign entities are owned up to 30% of the total number of apartments for residence purpose. In case the apartment building is multiple units or many blocks with a tail stock, foreign entities are only owned up to 30% of the total number of apartments for residence purpose of each unit, each block.
– With regard to detached houses (terrace, independent houses, villas), quantity of houses are owned by foreign entities as follows:
- In an area whose population is equivalent to that of a ward, if there is only a housing construction project, foreign entities may own up to 10% of the total number of detached houses of each project
Foreign entities may own total number of detached houses up to 250 houses.
- In an area whose population is equivalent to that of a ward, if there are many housing construction projects, foreign entities owned sufficiently the quantity of detached houses (250 houses), they are not allowed to buy and own any detached houses of other projects of this area.
– Before signing a lease contract and after the lease contract terminates, foreign entities shall notify to related district housing management department to follows and manages.
Foreign entities have to register business in accordance with Vietnam’s Law when leasing houses.
This Circular comes into effect from August 15, 2016.
