Procedures for applying for a red book for foreigners to buy houses in Vietnam?

1. Can foreigners buy real estate in Vietnam?

According to the provisions of Article 5; Article 169 of the 2013 Land Law states that foreigners are not subject to land allocation by the State; land lease; recognition of land use rights; receive land use rights in Vietnam. Therefore, foreigners are not allowed to transfer or buy or sell land in Vietnam. However, foreigners can still own houses in Vietnam if they meet the conditions prescribed by the Housing Law.

2. Accordingly, foreign individuals who are allowed to own houses in Vietnam must meet the following conditions:

• Must be allowed to enter Vietnam and not eligible for diplomatic or consular privileges and immunities according to the provisions of law.
• Owning housing in Vietnam through investment in building housing projects in Vietnam or buying, renting and purchasing commercial housing including apartments and individual houses in construction investment projects Housing, except for areas ensuring national defense and security according to law.

Thus, if the above conditions are met, foreigners can buy houses in Vietnam and have their names included in house purchase and lease purchase contract transactions in Vietnam.

3. Procedures for applying for red books for foreigners to buy houses in Vietnam

Step 1: Prepare documents

• Application for issuance of Red Book (According to sample);
• Certificate of land use rights, ownership of houses and other assets attached to land;
• Diagram of assets attached to land; except in cases where the documents on ownership of assets attached to land have an asset diagram consistent with the current status;
• Notarized and authenticated housing purchase and sale contract;
• Identity card/Citizen identification card/Passport; Household registration books of the parties (Authenticated copy);
• Marriage certificate or certificate of personal status (Copy);
• Receipt of payment of financial obligations;
• Personal income tax declaration (According to sample);
• Registration fee declaration (According to sample).

Step 2: Submit application to the Provincial/City Land Registration Office in the area where the house is owned.

Step 3: Fulfill all financial obligations according to legal regulations.

Step 4: Foreigners receive Red Books at the Land Registration Office.

Thus, if a foreigner is eligible to own a house according to the provisions of housing law, he or she will be granted a Certificate of Land Use Rights; ownership of houses and other assets attached to land (Red Book) according to the law.