Resolution 19/2008/NQ-QH12 dated 03/06/2008
Article 1, item 2:
Residential houses which foreign organizations and individuals are allowed to purchase and own under this Resolution are apartments built under projects on development of residential houses for commercial purposes and not located in areas in which residence or travel by foreigners is restricted or banned.
Article 2. Entities allowed to purchase and own residential houses in Vietnam
The following foreign organizations and individuals are allowed to purchase and own residential houses in Vietnam:
1. Foreign individuals who make direct investment in Vietnam under the investment law or are hired to work as managers by enterprises operating in Vietnam under the enterprises law, including domestic enterprises and foreign-invested enterprises;
2. Foreign individuals who have made contributions to Vietnam and are conferred orders or medals by the President of the Socialist Republic of Vietnam; foreign individuals who have made special contributions to Vietnam as decided by the Prime Minister;
3. Foreign individuals who are working in socio-economic domains and possess university or higher degrees, and specialists in fields which Vietnam has demand;
4. Foreign individuals who marry Vietnamese citizents;
5. Foreign-invested enterprises which are operating in Vietnam under the investment law but not engaged in real estate business, and wish to purchase residential houses for their employees.
Article 3. Conditions which must be satisfied by foreign organizations and dividuals to purchase and own residential houses in Vietnam.
1. Foreign individuals defined in Clauses 1, 2, 3 and 4 of article 2 of this Resolution must be residing in Vietnam, permitted by competent state agencies to reside in Vietnam for at least one year, and ineligible for diplomatic or consular privileges and immunities under Vietnamese law.
2. Foreign-invested enterprises specified in Clause 5, Article 2 of this Resolution must possess investment certificates or written certifications of investment activities as appropriate to investment forms specified by the investment law (below collectively referred to as investment certificates) granted by a competent Vietnamese state agency.
Article 4. Duration of owning residential houses by foreign orgainizations and individuals in Vietnam
1. Foreign individuals defined in clauses 1, 2, 3 and 4 of article 2 of this Resolution may own residential houses for maximum 50 years from the date of grant of residential house ownership certificates. This duration is states in residential house ownership certificates.
Within twelve months after the expiration of the duration of owning residential houses in Vietnam, entities defined in this Clause shall sell or donate these houses.
2. Foreign-invested enterprises specified in clause 5 of article 2 of this Resolution may own residential houses for a duration stated in investment certificates granted to them, including also extended duration. Such a duration is counted from the date an enterprise is granted a residential house ownership certificate and is stated in such certificate.
Upon the expiration of licensed investment durations or in case of dissolution or bankruptcy of enterprises specified in this clause, their residential houses shall be handled in accordance with the laws on investment and business bankruptcy and other provisions of Vietnamese law.
Article 5. Rights of residential house owners being foreign organizations and individuals
Foreign orgainzations and individuals owning residential houses in Vietnam have the following rights:
1. At a time, a foreign individual defined in clause 1, 2, 3 and 4 of article 2 of this Resolution may own only one apartment in a commercial housing development project. In case he/she is donated or inherits another residential house, he/she can only choose to own that apartment while enjoying the value of the donated or inherited residential house;
2. A foreign-invested enterprise specified in clause 5 of article 2 of this Resolution may own one or several apartments in a commercial housing development project for its employees. In case it is donated or inherits other residential houses, it can only choose to own those apartments while enjoying the value of the donated or inherited residential houses;
3. To sell or donate residential houses under their ownership twelve months after they are granted residentia; house ownership cetificates. Individuals who own residential houses but can no longer reside in Vietnam may sell or donate their residential houses ahead of the time limit specified in this clause;
4. To bequeath their residential houses under the Vietnamese law on inheritance. Heirs who are ineligible to own residential houses in Vietnam may enjoy the value of the inherited residential houses;
5. To mortgage their residential houses at credit institutions licensed to operate in Vietnam;
6. To authorize other persons to manage residential houses under their lawful ownership;
7. To request competent state agencies to grant, renew or re-grant residential house ownership certificates, or certify changes occurring after residential house ownership certificates are granted under this Resolution and the housing law;
8. To maintain and renovate residential houses, and use spaces of residential houses in line with construction and architecture planning and in accordance with Vietnamese law;
9. To receive damages for coerced dismantlement or ground clearance under Vietnamese law;
10. To lodge complaints and denunciations about atcs of violating this Resolution and the housing law.
Article 6. Obligations of residential house owners being foreign organizations and individuals.
Foreign organizations and individuals owning residential houses in Vietnam have the following obligations:
1. To use residential houses only for the residential purpose, not to use residential houses for lease, as working offices or for other purposes;
2. To purchase, sell, donate, inherit or mortgage residential houses or authorize other persons to manage residential houses in strict accordance with this Resolution and the housing law;
3. To fully comply with the prescribed order and procedures for applying for the grant, renewal or re-grant of residential house ownership certificates or certification of changes occurring after residential house ownership certificates are granted under this Resolution and the housing law;
4. To manage, use, maintain, renovate or dismantle residential houses under Vietnamese law without harming or damaging the state and public interests and lawful interests of other persons;
5. To pay taxes and fees under Vietnamese law when purchasing, buying, donating, mortgaging or inheriting residential houses, applying for the grant, renewal or re-grant of residential house ownership certificates, or certification of changes occurring after residential house ownership certificates are granted;
6. To abide by competent Vietnamese state agencies’ decisions on handling of violations, settlement of disputes, complaints or denunciations about residential houses; on ground clearance, compensation, supports, resettlement or dismantlement of residential houses; or on requisition, compulsory purchase or pre-emption of residential houses;
7. To perform other obligations specified by Vietnamese law.
Article 7. Procedures for purchase and sale of residential houses
1. The purchase and sale of residential houses must be conducted under contracts in accordance with the housing law. Contracts on residential house purchase and sale must be in Vietnamese.
2. In case of purchase of a residential house from a residential house trading enterprise, the seller shall carry out procedures for applying for a residential house ownership certificate to the purchaser. For case of purchase of a residential house from an individual, the responsibility to carry out procedures for applying for a residential house ownership certificate shall be agreed upon by the two parties. The parties shall pay taxes and fees prescribed by Vietnamese law.
Article 8. Competence, order and procedures for granting residential house ownership certificates.
1. People’s Committees of provinces and centrally run cities (below collectively referred to as provincial-level People’s Committees) shall grant residential house ownership certificates to foreign organizations and individuals in Vietnam under this Resolution and the housing law.
2. A dossier ofr application for a residential house ownership certificate comprises:
a) An application;
b) Coppies of papers providing that the foreign organization or individual is among eligible entities defined in article 2 and full satisfies the conditions specified in article 3 of this Resolution;
c) The original contract on residential house purchase and sale or donation and papers on residential house inheritance;
d) Papers evidencing the residential house ownership of the seller, donor or bequeather under the housing law;
đ) Receipts of tax and fee payment.
3. The order and procedures for granting residential house ownership certificates are specified as follows:
a) Dossiers of application for residential house ownership cetificates shall be submitted to provincial-level resiential house management agencies in localities where these residential houses are located;
b) Dossier-receiving agencies shall examine dossiers. If dossiers are incomplete, they shall promptly provide specific guidance for dossier-submitting organizations and individuals to supplement their dossiers. The time for dossier supplementation is not counted into the time limit for grant of residential house ownership certificates. Dossier-receiving agencies shall issue receipts to organizations and individuals that have submitted complete dossiers, clearly stating the date of handover of residential house ownership certificates;
c) Within 30 days after receiving completed and valid dossiers, provincial-level People’s Committees of localities where rsidential houses in question are located shall grant residential house ownership certifiacates. In case of refusal to grant certificates, they shall reply in writing, clearly stating the reason.
4. Foreign organizations and individuals that purchase or inherit residential houses or receive donated residential houses may authorize other persons to carry out procedures for applying for residential house ownership certificates under this article and other provisions of Vietnamese law.