What are the Conditions for Overseas Vietnamese to Invest in Real Estate Projects in Vietnam?

Conditions for Overseas Vietnamese to Invest in Real Estate Projects in Vietnam are issues of concern to many investors in the context where laws on land, housing, and investment are increasingly perfected with many important changes. Grasping these regulations not only helps Overseas Vietnamese correctly identify their subject status and permitted investment scope but also limits risks during project implementation, ensuring appropriate and long-term effective investment activities. In the following article, Long Phan Consulting Company will provide a detailed analysis of the rights and implementation conditions for Overseas Vietnamese when investing in real estate projects in Vietnam.

Who are overseas Vietnamese according to Vietnamese law?

According to Vietnamese law, the term “Vietnamese expatriate” is commonly used to refer to “Vietnamese people residing abroad.” Specifically, according to Clause 3, Article 3 of the 2008 Vietnamese Nationality Law, Vietnamese people residing abroad include:

• Vietnamese citizens residing abroad: These are individuals who still hold Vietnamese citizenship but live and work abroad.
• People of Vietnamese origin residing abroad: These are individuals of Vietnamese descent who have renounced Vietnamese citizenship and are currently residing and working abroad.

>>>See more: Procedure for selling real estate for Overseas Vietnamese

Conditions for overseas Vietnamese to invest in real estate projects in Vietnam

According to the Housing Law 2023, the Land Law 2024, and Decree 95/2024/ND-CP, Vietnamese people residing abroad (overseas Vietnamese) are allowed to invest in real estate in Vietnam if they meet the legal requirements. Specifically, the two main groups are: overseas Vietnamese who still hold Vietnamese citizenship, and people of Vietnamese origin who have lost their citizenship. Each group has different conditions as follows:

For Vietnamese people living abroad (who still retain Vietnamese citizenship)

Vietnamese citizens residing abroad enjoy many incentives and favorable conditions similar to domestic citizens. Based on Point b, Clause 3, Article 3 of Decree 95/2024/ND-CP, to establish real estate ownership, this group needs:

• Valid Passport: Have a valid Vietnamese passport with a legal entry stamp into Vietnam at the time of transaction or housing creation.
• Proof of Nationality: Have documents proving Vietnamese nationality (Citizen ID card, passport, or other legal documents).
• Civil Capacity: Have full civil act capacity under Vietnamese law.
• Finance: Prove legal financial capacity to pay for the property and related costs.

Rights: They are not limited in the quantity of housing owned and have rights to buy, sell, transfer, inherit, or participate in housing development projects (including future-formed housing) just like domestic citizens.

For people of Vietnamese origin (who no longer have Vietnamese citizenship)

People of Vietnamese origin without nationality must comply with stricter conditions. According to Decree 95/2024/ND-CP, conditions include:

• Foreign Passport: Have a valid foreign passport or equivalent document.
• Certificate of Origin: Have a document confirming Vietnamese origin issued by competent Vietnamese authorities.
• Entry Stamp: Have a legal entry stamp into Vietnam at the time of transaction.
• Full capacity and legal finance.
• Financial Obligations: Fully perform tax declaration and fee payment obligations.

Rights: According to Clause 1, Article 44 of the Land Law 2024, eligible people of Vietnamese origin can own housing attached to residential land use rights within housing development projects allowed for transfer.

Direct investment

One of the most common and obvious ways for overseas Vietnamese to invest in real estate in Vietnam is through direct investment. With this method, overseas Vietnamese can directly own real estate, participate in construction, or buy and sell properties just like domestic citizens, provided they meet the necessary conditions. Two common forms of direct investment are purchasing existing properties and investing in the construction of new homes.

Buy Real Estate Directly

Buying real estate directly is the most common investment method for overseas Vietnamese who want to own property in Vietnam. The transfer of real estate is carried out through the following main steps:

Step 1: Make a deposit (optional)

Current law does not mandate a deposit when transferring real estate; however, in practice, parties often draw up a deposit agreement to secure their obligations in the purchase and sale contract. The deposit can be made at a notary office or with a third-party witness, with the common deposit amount ranging from 2-3% of the value of the house or land.

Step 2: Sign and Notarize/Authenticate the Contract

According to Clause 3, Article 28 of the 2024 Land Law, when a household or individual transfers land use rights, the transfer contract must be notarized or certified. Typically, the parties have the contract notarized at a notary office located where the property is situated or where one of the parties resides.

Buyers need to prepare:

• National Identity Card (CMND)/Citizen Identification Card (CCCD);
• Household registration book;
• Notarization is usually done at the same time the buyer pays the remaining balance, and the buyer will receive the original legal documents related to the property.

Step 3: Filing taxes and fees

Immediately after notarizing the contract, the parties must declare personal income tax (paid by the seller) and registration fees (paid by the buyer). If the parties agree that the buyer will pay the tax obligations on behalf of the seller, this must be clearly stated in the contract.

Step 4: Register the transfer of ownership of the Certificate

The registration of ownership transfer is carried out at the local branch of the Land Registration Office, or at the commune-level People’s Committee if permitted by the locality.

The file includes:

• Application for changes (Form No. 18, Appendix II (issued together with Decree 151/2025/ND-CP);
• The transfer contract has been notarized;
• Original Land Use Right Certificate (land title deed);
• Personal Income Tax Return Form 05/KK-TNCN (issued together with Circular 80/2021/TT-BTC, amended by point g, clause 7, Article 1 of Circular 40/2025/TT-BTC);
• Vehicle registration fee declaration form Form 01/LPTB (issued together with Circular 80/2021/TT-BTC, amended and supplemented by Clause 7, Article 1 of Circular 40/2025/TT-BTC);
• Documents proving eligibility for tax/fee exemption (if applicable);
• Identification documents of the parties involved.

Therefore, purchasing real estate directly in Vietnam requires overseas Vietnamese to fully comply with current legal regulations on land, taxes, and notarization to ensure the legality and safety of the transaction. With a clear process including steps from deposit, notarization, tax declaration to transfer of ownership, investors can proactively carry out the process or authorize a legal representative in Vietnam.

>>>See more: Construction Permits for Overseas Vietnamese Guide

Housing Construction Investment

Investing in housing construction is a form of investment where overseas Vietnamese directly participate in the real estate development process right from the project planning stage. This is a long-term, proactive investment model that allows investors to control the entire process from design and construction to commercial operation. According to Articles 20 to 23 of Decree 95/2024/ND-CP, the process of implementing a housing construction investment project includes the following basic steps:

Step 1: Prepare, review, and approve the construction design

Based on the housing construction investment project approved in accordance with Article 19 of Decree 95/2024/ND-CP, the investor shall prepare and approve the tasks of surveying, preparing the site, clearing unexploded ordnance (if any), and conducting construction surveys to design the project in accordance with the provisions of construction law.

The design and construction steps, as well as the organization of the preparation, appraisal, and approval of construction designs for housing investment projects, are carried out in accordance with the law on construction and meet the requirements for the design and installation of telecommunications and information infrastructure systems as stipulated by the law on telecommunications.

Step 2: Apply for a Building Permit

After the detailed design has been approved following the basic design, the investor proceeds to submit an application for a construction permit in accordance with the law on construction, in cases where a construction permit is required.

The application process, procedures, processing time, and competent licensing authority are carried out in accordance with the provisions of the law on construction.

Step 3: Construction and operation of the housing business

After obtaining a construction permit, the investor must send a notice of commencement of construction to the local construction management agency in accordance with the law on construction.

The construction and investment of the project will be carried out in accordance with the law on construction and related laws.

The business of buying, selling, and leasing housing and construction works that will be built in the future within the project is carried out in accordance with the laws on housing and real estate business.

The investor, based on the project implementation progress and the requirements of the provincial People’s Committee as stipulated in point m, clause 1, Article 93 of Decree 95/2024/ND-CP, shall clearly determine the deadline by which individuals receiving land use rights transfers in the form of subdivided plot sales within the permitted subdivided plot sales project must complete the construction of houses as specified in the land use rights transfer contract.

If the individual fails to build a house within this deadline, they will be subject to penalties in accordance with the law on administrative sanctions in the fields of construction, housing, and real estate business; and the investor is responsible for supervising the construction of the individual’s house according to the approved project content and the signed contract.

Step 4: Business and exploitation of real estate products

The investor, in coordination with the contractor and relevant units, shall organize the acceptance of construction works in stages and for the entire project, and prepare the construction completion documents in accordance with the law on construction.

The documentation, procedures, timelines for acceptance of completed construction projects for commissioning, responsibilities, and organization for conducting acceptance testing of housing and other works within housing construction investment projects shall be carried out in accordance with the provisions of the law on construction and related laws.

After completion of the acceptance testing, the housing project can be put into business in the form of sale, lease, or lease-purchase in accordance with the laws on housing and real estate business. The investor needs to carry out the procedures for declaring eligibility for sale or lease before bringing the product to the market.

Investing in housing construction requires not only full compliance with legal regulations but also thorough preparation in terms of finance, management capacity, and professional expertise. This form of investment is suitable for overseas Vietnamese with long-term goals, who wish to directly develop and own real estate projects in Vietnam in a sustainable, transparent, and legal manner.

Indirect investment

Based on current legal regulations, in addition to direct investment, investors can also choose indirect investment as a method of market participation with a high degree of flexibility and a more diverse range of access.

Contributing capital and purchasing shares in a real estate company

According to Article 25 Law on Investment 2020, Overseas Vietnamese can contribute capital or buy shares in real estate companies.

• Conditions: Must comply with market access conditions (Real estate is generally open) and Defense/Security conditions (if the company operates on islands, borders, or coastal areas).
• Procedure: Register the capital contribution at the investment registration agency (Article 66 Decree 31/2021/ND-CP amended by Decree 168/2025/ND-CP).

Establishing a real estate business

Overseas Vietnamese can establish a company to manage and exploit real estate.

• Conditions (Article 9 Law on Real Estate Business 2023):
  • Establish an enterprise or cooperative.
  • Maintain equity not lower than 20% of total investment (projects <20ha) or 15% (projects ≥20ha).
  • Ensure credit and bond debt ratios.
• Establishment Procedure: Submit documents to the Business Registration Office/Department of Finance (approx. 03 working days).

Long Phan Consulting Company provides consulting services on various forms of real estate investment for overseas Vietnamese in Vietnam

Vietnamese expatriates investing in real estate in Vietnam is not only a common need but also an attractive channel for preserving assets and generating profits. Without proper advice, the investment process can be fraught with legal risks, directly impacting the effectiveness and sustainability of the investment.

With the desire to accompany the Vietnamese diaspora community on their journey of real estate investment in Vietnam, Long Phan Consulting Company provides comprehensive consulting services on suitable, safe, and legally compliant investment options. We have built a professional support process to help clients make effective investment decisions even while abroad.

Our consulting services include:

• Providing advice on legal investment options for Vietnamese people residing abroad, such as;
• Analyze the conditions and limitations regarding real estate ownership rights;
• Guide to preparing appropriate investment documents;
• Providing advice on safe investment planning, including location selection, property type, investment partners, and factors affecting profitability;
• Drafting and reviewing various types of transaction contracts ensures compliance with legal regulations and protects the rights of investors;
• We provide consultation on notarization procedures, registration of ownership rights, and support in representing clients in working with government agencies, notary offices, banks, and other relevant parties.
• Analyze the potential legal risks involved in the investment process;
• We represent our clients in carrying out administrative procedures with the competent government agencies.

Some frequently asked questions when exploring real estate investment options for overseas Vietnamese in Vietnam

Below are some frequently asked questions about forms of real estate investment by overseas Vietnamese in Vietnam.

What are the forms of home ownership in Vietnam for foreigners?

According to Clause 2, Article 17 of the 2023 Housing Law, foreigners are allowed to own housing in Vietnam, including apartments and detached houses, through the following forms:

• Purchasing, leasing, or receiving commercial housing from a housing development project developer, or inheriting commercial housing within a housing development project that is not located in an area requiring national defense and security protection.
• Purchasing or lease-purchasing housing from foreign organizations or individuals who already own housing as stipulated in point b, clause 2, Article 17 of the 2023 Housing Law.

What is the maximum number of residential properties that foreign organizations and individuals are allowed to own in Vietnam?

According to Clause 1, Article 19 of the 2023 Housing Law and Article 5 of Decree 95/2024/ND-CP, foreign organizations and individuals are allowed to own no more than 30% of the number of apartments in a condominium building; and no more than 250 houses (if they are detached houses, including villas and townhouses) in an area with a population equivalent to a ward-level administrative unit.

Furthermore, according to Clause c, Point 1, Article 10 of the 2023 Housing Law, overseas Vietnamese (Vietnamese citizens residing abroad) are entitled to be granted a land ownership certificate (Sổ đỏ) for their legally owned property in accordance with the 2023 Housing Law and land laws.

Can overseas Vietnamese be named on a Land Use Right Certificate (Land Title Deed)?

According to Clause 1, Article 26 of the 2024 Land Law, overseas Vietnamese are land users who are granted land use certificates when they meet the conditions stipulated by land law.

Overseas Vietnamese, who are Vietnamese citizens residing abroad and own construction works, are eligible for a land use right certificate (Sổ đỏ) if they possess one of the documents specified in Clause 1, Article 149 of the 2024 Land Law. Similarly, overseas Vietnamese who create construction works and possess documents that comply with the regulations of the law on construction are also eligible for a land use right certificate (based on Clauses 1 and 4, Article 149 of the 2024 Land Law).

Therefore, based on the above regulations, overseas Vietnamese who are land users/owners of houses and construction works/creators of construction works in Vietnam are granted land use rights certificates when they meet the conditions stipulated by the laws on housing and land.

If overseas Vietnamese buy real estate but don’t live in Vietnam regularly, how can they manage their assets?

According to Article 57 of the 2024 Notarial Law, overseas Vietnamese can authorize relatives or organizations in Vietnam in writing (with notarization or certification) to manage, use, or conduct transactions related to real estate on their behalf.

>>>See more: Online Temporary Residence for Overseas Vietnamese

Conclusion

Vietnamese law creates favorable conditions for Overseas Vietnamese investment through a diverse legal framework. Overseas Vietnamese can choose direct investment (buying/building) or indirect investment (contributing capital/establishing companies).

For detailed advice on procedures and legal dossiers suitable for each investment form, please contact Long Phan Consulting Company via Hotline 1900636389.