[Infographic] Conditions & Procedures for foreign homebuyers in Vietnam

 The Law on Housing of Vietnam allows foreigners to purchase Vietnam property but with strict conditions and procedures as listed in the following infographic.

In addition to the above terms, Clause 5, Article 63 of the Government's Decree No. 139/2017 / ND-CP stipulates a fine of 200,000,000 VND - 300,000,000 VND for Developers who violate regulations on selling houses to Foreign organizations and individuals, such as: Selling houses in excess of the number of foreign individuals and organizations permitted to own according to government regulations; Selling houses for foreign individuals or organizations in areas not permitted to be owned by foreign individuals or organizations; do not send information about houses sold to foreign individuals and organizations to post on the website of the Department of Construction; etc. Therefore, to avoid unwanted losses, both foreigners and the house sellers must be familiar with the above regulations and procedures.

Source: Thanhnienviet.vn