Foreign Ownership Restrictions
RestrictifVietnam allows foreign ownership of apartments and certain housing with significant restrictions. Foreign ownership is leasehold-based with quota limitations. Understanding these restrictions is critical for any investment decision.
- Foreigners CAN own apartment/condominium units, but each building is limited to 30% foreign ownership (the foreign ownership quota)
- For landed housing projects (townhouses, villas in designated developments), the cap is 50% of total units in the project
- Ownership is leasehold: 50-year term from the date the ownership certificate (Pink Book) is issued, renewable once for an additional 50 years provided the building is still standing
- Foreigners CANNOT own land in Vietnam -- all property in Vietnam is technically "land use rights" granted by the state, and land use rights are not available to foreign individuals
- Vietnamese spouse exception: A foreigner married to a Vietnamese citizen may hold property rights for the same duration as the Vietnamese spouse (potentially indefinite for residential use)
- Foreign-invested enterprises (FIEs) registered in Vietnam can own property for business operations
- The 2024 Land Law amendments (effective January 2025) are expected to expand certain foreign ownership provisions, including potentially extending leasehold terms and clarifying renewal procedures. However, implementing regulations are still being issued -- consult a local advisor for the latest status.
- Buyers must have legal entry to Vietnam (valid visa or entry stamp) and must use a Vietnamese bank account for all transactions
