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Key Notes for Foreigners Selling Property in Vietnam

The 2023 Housing Law expands property ownership rights for foreigners in Vietnam, aiming to attract foreign investment, encourage long-term residence, and promote the integration of the domestic real estate market. However, foreigners who wish to sell or transfer ownership must comply with specific legal conditions.

According to lawyer Ngô Minh Trực (Ho Chi Minh City Bar Association), foreigners can own housing in Vietnam if they are legally permitted to enter the country and do not fall under diplomatic or consular immunity.

They may purchase, lease-purchase, receive as gifts, or inherit commercial housing located in residential projects, except in areas designated for national defense and security protection. Ownership can include apartments or detached houses.

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Although foreigners have ownership rights similar to Vietnamese citizens, they are subject to a time limit: up to 50 years from the date of issuance of the ownership certificate, extendable once for no more than another 50 years upon request. The duration must be clearly stated in the ownership certificate.

Before the ownership period expires, the foreign owner may sell or gift the property to another eligible buyer. If the owner fails to transfer or gift it after the period ends, the property will become state-owned.

When selling the property, foreigners should note:

  • If the buyer is another foreigner eligible to own property in Vietnam, the buyer’s ownership will only last for the remaining term stated in the certificate.

  • If the buyer is a Vietnamese citizen or an overseas Vietnamese, the ownership will become permanent and long-term.

In cases where foreigners are not eligible for an ownership certificate under Article 22 of the 2023 Housing Law — such as when they no longer have permission to enter Vietnam, or inherit property they are not eligible to own — they may still authorize another individual or organization in Vietnam to sell or gift the property. In such cases, they are entitled to receive the corresponding value of the property.

In summary, foreigners can legally sell property in Vietnam, provided they respect restrictions on ownership duration, eligible buyers, and project locations, ensuring that all transactions comply with Vietnamese law and protect the rights of all parties involved.

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