Conditions to buy residential house in Vietnam for Vietnamese residing overseas

Conditions to buy residential house in Vietnam for Vietnamese residing overseas

Conditions for Vietnamese residing overseas to buy residential houses in Vietnam are defined in the legislation and guidelines:

 - Law No. 34/2009/QH12 on amendment and supplement of Article 126 of the Law on residential housing and Article 121 of the Law on land providing provisions on ownership of residential housing in Vietnam by Vietnamese residing abroad enacted by Vietnamese Congress on 18 June 2009.
 - Decree No. 71/2010/ND-CP of Vietnamese Government dated 23 June 2010 providing details and guidance of implementation of Law on residential housing.
 - Circular No. 16/2010/TT-BXD dated 01 Sept 2010 of Ministry of Construction guiding the implementation of Decree No. 71/2010/ND-CP, in which specifies the instructions about owning housing in Vietnam by  Vietnamese residing overseas.
 - Official Document No. 1674/BXD-QLN dated 8th December 2013 of Ministry of Construction on implementation of policies and laws on residential housing and land in Vietnam by Vietnamese residing abroad.

 This Official Letter of Ministry of Construction regulated the conditions and procedures for buying houses in Vietnam for Vietnamese residing overseas, in which, it eased the conditions for Vietnamese residing overseas to buy residential houses in Vietnam.

 Pursuant to the provisions of paragraph 1 of Article 19 of Circular 16/2010/TT-BXD, Vietnamese residing overseas need only papers issued by the competent authorities of Vietnam allowed to reside in Vietnam in period of 3 months and over which is satisfied the conditions for buying residential houses in Vietnam, it not mandatory to reside actually in the period from 3 months and over.

 Where the stamp on passport showing the entry and exit from 90 days and over, it also satisfies the residing condition as mentioned above.

 When notarizing, authenticating the contract, it’s just required a passport or a foreign Vietnamese passport (accompanied by certificates of Vietnamese nationality or Vietnamese origin), the ID card and family book are not mandatory.

 This guidance eased conditions for Vietnamese residing overseas to buy residential houses in Vietnam to create favorable conditions for development of real estate market in Vietnam.

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