Secondary real estate in Vietnam

 28.05.2020

Purchase of secondary real estate in Vietnam - apartments, houses, villas

Real estate in Vietnam

If you made a decision to buy an apartment, a house or villa for personal residence or for immediate rent to make a profit, the best option is to buy a secondary real estate that has already been built with a nice design and that is fully furnished.

Under the Law of land and real estate, Vietnamese citizens who already have a Certificate of ownership  can not sell them to foreigners.

We will offer you the following options that allow you to purchase secondary real estate legally:

1. The deed (Gift Certificate) for real estate in Vietnam

On the basis of articles 74-78 of Decree No. 99/2015 / ND-CP explained the rules and guidelines for the implementation of certain articles of the Law of housing from 20.10.2015, that is that Vietnamese citizens may make gifts for foreigners. This transaction occurs on the basis of the notarized Dead (Gift Agreement).

To perform THE DEED You need to following next points:

  • The Dead (Gift Agreement), executed on the basis of the Housing Act, certified by a notary.

  • The certificate of ownership of the apartment,  provides by Seller.

  • The primary contract for the purchase of real estate, provides by Seller.

  • If you buy a house or villa, then you need to add a Land Use Certificate and a building permit provides by Seller

  • Verify the legality of the document (extract from the Real Estate Registration Department, with a date not later than 1 month before the transaction).

  • Passport of a foreign citizen, with a stamp of Vietnam Immigration. If you make a distance transaction, then plus a contract signed with our company to represent your interests and your notarized passport.

  • Pay all necessary taxes for the gift transaction:
    • Personal Income tax for gifts is 10%, if your property for 100,000 USD - the tax will be 100,000 * 10% = 10 000 USD. You pay this tax on your behalf, as a donee. Sometimes the Seller pay it by themself.
    • Registration fee - 0.5% of the value of the gift, if your property for 100.000 USD - the registration fee will be 100.000 * 0.5% = 500 USD
    • The notarize fee is not more than 150 USD (about 0.09% of the contract value).

That is, the cost of processing a gift deal, with an estimated value of a gift of 100 000 USD - 10,59% or 10 590 USD.

After the completion of the gift transaction, you have to file data with the Registration Department and renew the Apartment Ownership Certificate or a house or a villa in your name. This type of transaction you do not need to pay a refund for a major overhaul.

We will help you perform the secondary real estate purchase transaction. We will check the category and renew the Certificate of Ownership for your name.

2. Purchase of secondary real estate for a company started in Vietnam with foreign investment

A company started in Vietnam with 100% foreign investment can buy an apartment, a  house or a villa in the secondary real estate market. The procedure of transaction is similar as THE DEED, with the difference in the formulation of the contract and provided documents. The main difference between transactions with individuals and legal entities is their rights. An individual has full ownership rights in contrast to company. According to the law of housing, a legal entity can buy a secondary real estate for the residence of its employees and can not lease, organize an office or conduct business in this property. Of course, as always in Vietnam, where there is a problem, there are also options for its solution.

Leadership TSC provides services of property search and support of transactions, contact us now.


Read also:

Move to Vietnam

Real Estate in Vietnam

Purchase apartment in Vietnam