What are the requirements for buying a house in Vietnam? What should I pay attention to when buying a house in Vietnam?

Domestic real estate prices have been changing. Although there are occasional incidents of falling prices, they are still rising. So in this case, many people also want to go abroad to deal with real estate transactions. It's really easy to deal with foreign houses, but because we didn't know anything before, we still have to do a full investigation. What are the requirements for buying a house in Vietnam? What should I pay attention to when buying a house in Vietnam?

What are the requirements for buying a house in Vietnam?

Individuals buying a house in Vietnam must have valid visas, passports and other documents, which means that foreigners who legally enter Vietnam are eligible to buy a house. For enterprises that want to open branches in Vietnam and buy real estate, they need to have effective information such as investment license and office certificate to ensure the validity of the house purchase contract.

1. If foreigners want to buy a house in Vietnam, they must prepare enough funds, especially in Hanoi, the capital of Vietnam, and Hu Ming, the largest city, and they need more money, because foreigners need to pay all the money in one lump sum when buying a house in Vietnam. Moreover, there are many procedures for buying a house in Vietnam, and it costs more money to buy a house from a private hand.

Generally speaking, foreigners who buy Vietnamese real estate can only have the right to use the house for 50 years, but can't own land ownership and can only buy commercial housing. If you want to own the land forever, you must marry a local to hold it permanently, or even buy land to build your own house. For the company, only the right to use within the investment license period.

There are certain restrictions for foreigners to buy a house in Vietnam. They can't buy more than 30% apartments in the same community, and the number of independent houses they buy can't exceed 10% of the total number of houses.

What should I pay attention to when buying a house in Vietnam?

1. Vietnam has stricter restrictions on state-owned housing. Vietnamese law stipulates that foreigners can't own land locally, and you can lease land at most for the same period of 50 years. So, you can get the ownership of houses and buildings built on land, but you can't get the ownership of this land.

If the 50-year lease expires, you can apply to extend the lease for another 50 years, but there is no guarantee that your application will be approved.

3. In terms of housing costs and taxes, foreigners need to pay 10% value-added tax (VAT), 2% maintenance fee/sinking fund and 0.5% registration fee when buying a house from a developer.

If you plan to rent out the house, you have to pay rent income tax, including 5% value-added tax and 5% personal income tax.

4. When selling a house, although Vietnam has no capital gains tax, it has to pay 2% income tax when selling a house, which is actually a disguised capital gains tax.

Finally, the problems that foreigners encounter when buying real estate in Vietnam often come not from the government but from the seller. So when buying a house, you must carefully consider the reputation of the developer you choose.

The above content mainly describes what conditions Bian Xiao needs to buy a house in Vietnam. Specifically introduce what should be paid attention to when buying a house in Vietnam. The price of foreign real estate is not very high, but due to the different situation at home and abroad, there will be a big policy gap in various housing management, and the satisfaction of conditions is the key point, no matter where. Therefore, in addition to always paying attention to matters needing attention, we also need to understand the condition.