How a foreigner sells an apartment in Vietnam

Selling an apartment in Vietnam can be complicated for foreigners. Vietnam is a developing country that is becoming increasingly attractive to foreigners to live and work. When foreigners sell their apartments in Vietnam, they need to be aware of these relevant legal issues.

How a foreigner sells an apartment in Vietnam

How a foreigner sells an apartment in Vietnam

Conditions for foreigners to sell apartments in Vietnam

Based on Articles 159 and 160 of the Law on Housing 2014, foreigners are entitled to own an apartment in Vietnam if they meet one of the following conditions:

  • Being allowed to enter Vietnam
  • Having an unexpired passport bearing the entry seal of the Vietnam’s immigration authority
  • Having documents confirming that they are eligible to own housing in Vietnam

The apartment that the foreigner sells must be owned by that foreigner. This apartment must be built on legal residential land in Vietnam and has been granted a Certificate of land use rights, ownership of housing rights, and other assets attached to the land.

Foreigners have the right to sell or donate their house in Vietnam when they no longer need to use it and still have the ownership period. The recipient of the transfer of housing from foreigners can be an organization or individual as prescribed in Article 7 of the Law on Housing.

However, according to Clause 8, Article 79 of Decree No. 99/2015/ND-CP dated October 20, 2015, it is strictly prohibited for foreign organizations and individuals to buy housing for business profit. If they no longer need to use it, they are allowed to sell the house again according to the provisions of Clause 4, Article 7 of Decree No. 99/2015/ND-CP.

Therefore, according to the above regulations, foreigners have the right to transfer or donate their apartment to others if they no longer need to use it.

Procedure for selling an apartment in VietnamProcedure for selling an apartment in Vietnam

Procedure for selling an apartment in Vietnam

The procedure for selling an apartment in Vietnam includes these following steps:

Draft a sale contract

A sale and purchase contract is a type of civil contract, which must be in writing and notarized and certified. This contract must contain the following information:

  • Names and addresses of the parties to the contract
  • Information about the apartment being sold
  • Sale price
  • Payment method
  • Rights and obligations of the parties

Register the change in ownership of the apartment

After signing the sale contract, the seller and the buyer must complete the procedures for registering the change in ownership of the apartment at the land registration authority. This procedure is carried out in accordance with the provisions of the Civil Code, the Law on Housing, and the implementing documents.

The registration dossier for the change in ownership of the apartment includes:

  • A change registration form.
  • A sale and purchase contract that has been notarized and certified.
  • A Certificate of land use rights, ownership of housing rights, and other assets attached to land.
  • Copies of identity cards or citizen identity cards of the seller and the buyer
  • Documents proving that foreigners meet the residency requirements in Vietnam as stipulated by the Vietnamese law.
  • Documents proving marital status.

Transfer the apartment

After completing the above procedures, the seller and the buyer shall transfer the apartment to each other. This is usually done by handing over the keys to the apartment and signing a handover receipt.

Things to keep in mind when selling apartments in Vietnam

When foreigners sell apartments in Vietnam, they need to keep in mind the following issues:

The apartment must be legally owned by the foreigner:

  • In order to sell an apartment in Vietnam, a foreigner must have a Certificate of land use rights, ownership of housing rights, and other assets attached to land. This certificate must be issued to the foreigner in accordance with the laws of Vietnam.
  • Having documentation confirming that they are eligible to enter Vietnam
  • Having an unexpired passport bearing the entry seal of the Vietnam’s immigration authority
  • Having documents confirming that they are eligible to own housing in Vietnam under the laws of Vietnam

Notes on the apartment sales procedure:

The apartment sales procedure in Vietnam for foreigners is similar to the apartment sales procedure for Vietnamese citizens. However, foreigners need to note the following differences:

  • Foreigners must bring their valid passport.
  • The apartment purchase agreement must be in writing, the agreement may be drawn up in a foreign language and translated into Vietnamese and notarized and certified by the competent authority.
  • The application dossier for registering the change in ownership of the apartment must include a copy of the foreigner’s passport.

In addition to the above notes, foreigners selling apartments in Vietnam need to pay attention to the following issues:

  • Learn about the apartment information carefully before selling: apartment location, apartment condition, market price of the apartment… to offer reasonable prices.
  • Choose a reputable real estate agency: If foreigners do not have time or are not familiar with the Vietnamese real estate market, they can choose to use the services of a reputable real estate agency.
  • Work with a lawyer: To protect their rights, foreigners should work with a lawyer to be advised on legal issues related to selling an apartment in Vietnam.

By understanding the legal regulations and noting the above issues, foreigners will be able to sell apartments in Vietnam smoothly and ensure their rights.

Consulting services for foreigners selling apartments in Vietnam

Luật Kiến Việt khai trương văn phòng mới

According to Vietnamese law, foreigners have the right to own housing in Vietnam, but for a limited period. Therefore, when foreigners sell apartments in Vietnam, they need to pay attention to some related legal issues.

To protect their rights, foreigners should use the services of a lawyer or a reputable real estate consultancy firm. This consulting service will help foreigners answer their legal questions, as well as assist in carrying out the necessary procedures to sell an apartment in Vietnam.

Consulting services for foreigners selling apartments in Vietnam generally include the following:

  • Legal advice on the regulations related to the sale of apartments by foreigners in Vietnam, including:
  • Conditions for foreigners to own housing in Vietnam
  • Procedures for the sale of apartments by foreigners in Vietnam
  • Responsibilities of the parties involved in the transaction
  • Supporting foreigners in preparing the necessary documentation to sell an apartment, including:
  • Purchase and sale agreement of the apartment
  • Application dossier for registering the change in ownership of the apartment
  • Assistance to foreigners in carrying out the procedures for registering the change in ownership of the apartment at the competent authority.

Using consulting services for selling apartments in Vietnam provides the following benefits:

  • Ensures foreigners understand the legal regulations related to the sale of apartments in Vietnam, avoiding legal risks.
  • Helps foreigners prepare the necessary documentation completely and accurately, helping the process of carrying out the procedures to be quick and convenient.
  • Helps foreigners carry out the procedures for registering the change in ownership of the apartment quickly and accurately.

When finding a consultancy firm, foreigners should choose a reputable firm with experience in the field of legal and real estate consultancy. The consultancy firm should have a team of lawyers and experts with high professional qualifications, who understand Vietnamese law and the real estate market.

Here are some things to keep in mind when foreigners sell apartments in Vietnam. With this knowledge in hand, we are confident that foreign apartment owners in Vietnam can navigate the selling process smoothly and successfully. If you have any questions, please contact our lawyer directly for more specific advice.

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