Question:
My family live in Australia & Singapore would like purchase the apartment in Vietnam. They don't have Vietnamese residence card.
Can they buy the property in Vietnam with tourist visa?
I read article, some said can, but some said has to have residence card in order to buy property.
Please advice.
Answer:
I am Lawyer of SB Law. I was entrusted to provide you legal advice regarding to your question below.
We acknowledge that what you learnt about foreigners purchasing property in Vietnam was right.
Some requested that foreigners who purchase property in Vietnam must have residence permit. Meanwhile, others confirm that foreigners shall need visa only. This was caused by different interpretations of Vietnam Law on Housing in real estate developers.
Regarding this, according to Item 1, Article 74, Decree No. 99/2015/ND-CP dated 20 October 2015 of the Government detailing Housing Law, foreigners having Vietnamese Valid Visa and not subject to diplomatic immunity can purchase apartment in Vietnam.
Then, if you are not subject to diplomatic immunity and you are holding valid Visa to enter into Vietnam, you can purchase apartment in Vietnam.
If you have any further question, please feel free to contact us.
