Question: My name is Tony, I have been running a real estate company in Da Nang for the last 4 years.
I will keep this email short. I am sure you are receiving plenty of enquiries in regards to foreign ownership and I have plenty of clients that are trying to purchase land and houses and are unable to do so.
My question would be, would your law firm be able to come up with a way to have a foreigner own a property (This is Da Nang so the focus is on land and private houses only) and if not would you have sufficient contracts to protect the client if it was done under a private 50 year lease hold or a company?
Anwser: This is reference to your email below. Actually, up to now, Vietnam Government has not issued any further guidance on implementation of housing law 2014.
Then, foreign clients may face with difficulties in realization of their wishes on owning house in Vietnam.
We further also note that under Vietnam Law, private ownership of land is not allowed. Foreign individual can only rent land lord from the government.
However, they can own house (apartment or private house) for 50 years. In Da Nang City, due to that it is ancient city, there may be some requirements more special than other location. We shall check and confirm you soon.
If you would like further information on Foreign ownership – Da Nang, please either email to our Partners at: firstname.lastname@example.org or call to our Office:
Ha Noi Office: +84 (4) 62 62 0246
HCM Office: +84 (8) 35 208 101.