(SB Law) According to Vietnamese Law, these following individuals are allowed to purchase and own apartment in Vietnam:
1. Foreign individuals who make direct investment in Vietnam under the investment in Vietnam under the enterprises law, including domestic enterprises and foreign-invested enterprises;
2. Foreign individuals who have made contributions to Vietnam and are conferred orders or medals by the President of the Socialist Republic of Vietnam; foreign individuals who have made special contributions to Vietnam as decided by the Prime Minister;
3. Foreign individuals who are working in socio-economic domains and possess university or higher degrees, and specialist in fields which Vietnam has demand for;
4. Foreign individuals who marry Vietnamese citizens;However, these individuals have to satisfy these conditions: residing in Vietnam, permitted by competent state agencies to reside in Vietnam for at least one year, and ineligible for diplomatic or consular privileges and immunities under Vietnamese law.
Moreover, it should be noted that duration of owning a apartment by individuals in Vietnam is maximum 50 years from the date of grant of apartment ownership certificates. This duration is state in apartment ownership certificates. Within twelve months after the expiration of the duration of owning apartment in Vietnam, the owners shall sell or donate these.
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