Adding Foreign Subjects may Own Resident Houses in Vietnam
Adding Foreign Subjects may Own Resident Houses in Vietnam Residents and investors alike have been paying close attention to The Draft Law on House (amended). One of the most significant changes is a provision about foreign companies and individuals to own their own houses in Vietnam . In accordance with The Draft Law on House's Articles 161, 162, and 163, there are three scenarios in which foreigners may own Vietnamese residences: -Foreign organizations, individuals contribute the build inhabitant houses as indicated by projects available to be purchased, rent, employ buy deal. -Commercial properties in projects of resident house development, new urban areas, and tourism real estate may be purchased, donated, or inherited by foreign-owned enterprises, branches, representative offices of enterprises without a real estate business, foreign investment funds, and branches of foreign banks permitted to operate in Vietnam. -Individuals from other countries who are permitted to enter Vi...