How do you invest in Vietnam real estate?

JayJones wrote:

I wasn't "echoing you" ... i was flat out "agreeing with you" .... the issue seems to be that everyone is literally debating semantics of word definitions, then on top of that attempting to differentiate between the countless types of "investment". Contrary to what one said about His "company" buying large plots of land ... I can't imagine a western "person" wanting to even remotely deal with that type of headache in their own nation, let alone on foreign soil. ( Apples to Oranges )

I would be more interested in knowing more about "tenant laws" of VN ... what seems logical as being "what is written in a contract" SHOULD apply, but have not even heard many whispers about what the reality is, or from anyone that has stated any experience.

Diazo...

Bad or good?

Right or wrong?

SO EASY TO ACT AS IF YOU WERE GOD OR THE JUDGE!!!

Are you God? Buddha? Shiva? Mahomet? Jesus?

Who do you think you are to decide who is wrong or right?
Who do you think you are to decide who is wrong or right?
Who do you think you are to decide who is wrong or right?

There is a very simple way to  know about the truth.

You and me are going to meet with a lawyer or notary.

In front of this person , I'll say that the following is true:
"I just invested in 2 apts and 1 house...
In order to manage the risks, I invested the other 50% of my capital into Parisian and European Real Estate...
I bet these Vietnamese investments will have a better ROI over the next years!!!
Who want to bet one or two beers with me???
My company buy the house...
The developper wanted me to buy in my own name...
My friends, more than 30 years in Vietnam never had their company shutdown...
And they never heard such stories  of the governemtnbeing fond of shutting down companies either...
I have my own company and a long term visa, very easy to get for  me!"

And you'll say that I am wrong and that you do not believe me.

We shall bet, if I am right and you wrong, I get 1 bil VND from you. If you are right and me wrong, you'll get 1 bil VND from me.

No I bet that you will never go in front of the lawyer / notary with me to sign this bet...

You bet???!!!...

@DEFLON
  I think lethal your a bit confused again. It seems like your comments ate directed at me, yet you quote another person.
  Really I do not care what you bought and how you bought it. The simple question was were you able to put tgs house purchase in your name. The simple answer would have been, no. . But you chose to elaborate. That is when you got confused and were not quite sure if the status that you were allowed to stat in Vietnam as a nin-citizen. Perhaps that was an honest mistake. But I have not ever had a oribkwm myself knowing if I was here in a visa or a TRC. Perhaps I am unique in that regard. In addition, it seemed rather strange that you became agitated and thought someone was doubting you. But in retrospect I can understand that as well.
  Rest assured you answered my initial desire to learn if anyone yet has been able to put a house in their own name as the new law suggest we can. Maybe someone will chime in a let us know if they have. Wish you and your company the very best in your investment.

Diazo wrote:

@DEFLON
  I think lethal your a bit confused again. It seems like your comments ate directed at me, yet you quote another person.
  Really I do not care what you bought and how you bought it. The simple question was were you able to put tgs house purchase in your name. The simple answer would have been, no. . But you chose to elaborate. That is when you got confused and were not quite sure if the status that you were allowed to stat in Vietnam as a nin-citizen. Perhaps that was an honest mistake. But I have not ever had a oribkwm myself knowing if I was here in a visa or a TRC. Perhaps I am unique in that regard. In addition, it seemed rather strange that you became agitated and thought someone was doubting you. But in retrospect I can understand that as well.
  Rest assured you answered my initial desire to learn if anyone yet has been able to put a house in their own name as the new law suggest we can. Maybe someone will chime in a let us know if they have. Wish you and your company the very best in your investment.

Diazo,

Not answering my bet proposal shows ho is right now!!!!!!!!.......
There is a very simple way to  know about the truth.

You and me are going to meet with a lawyer or notary.

In front of this person , I'll say that the following is true:
"I just invested in 2 apts and 1 house...
In order to manage the risks, I invested the other 50% of my capital into Parisian and European Real Estate...
I bet these Vietnamese investments will have a better ROI over the next years!!!
Who want to bet one or two beers with me???
My company buy the house...
The developper wanted me to buy in my own name...
My friends, more than 30 years in Vietnam never had their company shutdown...
And they never heard such stories  of the governemtnbeing fond of shutting down companies either...
I have my own company and a long term visa, very easy to get for  me!"

And you'll say that I am wrong and that you do not believe me.

We shall bet, if I am right and you wrong, I get 1 bil VND from you. If you are right and me wrong, you'll get 1 bil VND from me.

No I bet that you will never go in front of the lawyer / notary with me to sign this bet...

You bet???!!!...

DELAFON wrote:

Not answering my bet proposal shows ho is right now!!!!!!!!.......

Diazo seems to be trying to be conciliatory and you just repeat your silly bet.  Why the hostility?  Any time someone questions your story or your judgement, you fly off the handle.  I have had a few spats with Diazo myself, but he seems to be a lot calmer about this than you are.

By the way, like both you and Diazo, I am a terrible speller and my grammar is sometimes faulty.  That is the reason, I try to take some time to edit my posts, hopefully before submitting, but if not after.  Maybe you both think you are too busy to check your posts, but it would make them a lot easier to read.   I am sure that will trip off a new conflict.

THIGV wrote:

DELAFON wrote:

Not answering my bet proposal shows ho is right now!!!!!!!!.......

Diazo seems to be trying to be conciliatory and you just repeat your silly bet.  Why the hostility?  Any time someone questions your story or your judgement, you fly off the handle.  I have had a few spats with Diazo myself, but he seems to be a lot calmer about this than you are.

By the way, like both you and Diazo, I am a terrible speller and my grammar is sometimes faulty.  That is the reason, I try to take some time to edit my posts, hopefully before submitting, but if not after.  Maybe you both think you are too busy to check your posts, but it would make them a lot easier to read.   I am sure that will trip off a new conflict.

"Silly bet": Here we go again, another God is judging... Who do you think you are, God???

No conflict as far as I am concerned! Just facts!

Diazo is talking specifically about "personal" land ownership ....

DELAFON is talking about ownership through his personally owned business ...

Diazo is talking about "X" factor, Delafon is talking about "Y" factor .... the debate revolves around the result of "Z".

What is the difference of land ownership rights / risks between "ownership" when said ownership is attached to a "person" or a "business" ... ( Really what this boils down to )

Thank you. No need to get tangled up in the minutia. I have asked several times in the forum if anyone has actually been able to apply the new home ownership law and get the house book in their names. So far notta.

Last, but not least, I had the choice to buy this house in my name or in the name of my company...

Just because this house is part of a new developping project...

https://www.globalpropertyguide.com/Asi … ying-Guidehttps://www.citypassguide.com/en/living … in-vietnamhttps://www.expat.com/forum/viewtopic.php?id=492926http://www.luxuryproperty.sg/vietnam-fo … hip-guide/https://tuoitrenews.vn/search/gool/?q=f … ership,,,, the last of these is possible the best for info and as things change here so fast I would be checking the Date Posted on any links, you will need an interpreter and a good lawyer competent in you language, good luck

Some good links but at least the most interesting to me, the 5th, is old news for sure. This has been hashed about forever. It is said to be the law that foreigners can own and have the house book in their name. But still no ones seems to have been able to do it.
Interesting the dateline on the , 5th link was 2014 and it said the law was enacted to spur a poor housing market.

Diazo wrote:

Some good links but at least the most interesting to me, the 5th, is old news for sure. This has been hashed about forever. It is said to be the law that foreigners can own and have the house book in their name. But still no ones seems to have been able to do it.
Interesting the dateline on the , 5th link was 2014 and it said the law was enacted to spur a poor housing market.

Diazo - I'm not even sure I want to get into the middle of this mess but you are "technically" correct since no foreigner have been able to have a "house book" (pink book) in their name. I say the word "technically" is that you have to keep in mind that the law for foreign ownership was passed in 2015. Foreigners are only allowed to buy houses as part of a large "NEW" development. As such, the development projects that foreigners are allowed to purchase have not been completed yet and "technically" they have not received the pink book. But once the project is completed, the developer will apply for the pink book in the foreigners name. Generally speaking, developers sell the projects 2-3 years in advance of completion to raise equity for the development since the cost of debt is very costly. 

Foreigners can't buy the single family houses as we see on the street but only houses in large "new" development. A good example is the Swan Park development in Dong Nai. That project is sold out and many foreigners purchased townhouses there, such as your good friend Delafon. Once it is completed in a few years, the foreigners will get their pink book in their name.

As I have understood the new law, and as the 5th link seems to state differently then you say. I mean in regards to own a villa style seperate family home. It does speak of some outlandish number we could own in a city. But nothing about it must be in a development. Now yes, the condo developments I believe you are correct. For my purposes I am only speaking of single family homes. Am I reading it wrong? This rule on condos ownership has been pretty consistent for quite sometime.

“Regarding separate houses including villas and attached houses, foreign subjects are allowed to buy up to 250 such houses in an area with a population equal to that of a ward-level administrative unit.”
The above is extracted ed directly from the article.

The last news article in that link even conceded there has been no appreciable increase in foreigners buying single family homes. It do s mention the increases sales of condo project housing to foreigners.
Again my only interest was in the single family attached or villas.

Diazo wrote:

“Regarding separate houses including villas and attached houses, foreign subjects are allowed to buy up to 250 such houses in an area with a population equal to that of a ward-level administrative unit.”
The above is extracted ed directly from the article.

Correct. But you have to keep in mind the different sets of rules. Each rule further limits foreigners and eventually leave foreigners will few options.

Foreigners can only buy 30% of a new condo development.

Foreigners can only own up 250 houses/villas in a ward.

Here is the most important one, FOREIGNERS CANNOT BUY FROM VIETNAMESE CITIZEN.

So in essence, it eliminates all the homes that are owned by citizen of Vietnam out of the equation.

So that is why Foreigners have begin to buy houses in new development directly from the developer as long as they stay under 250 unit per ward rule. Its kinda confusing, but once you kinda put all the rules together, Foreigners have really 2 options, buy a condo from a new development or buy a house from a new development since all the other house are already owned by Vietnamese. Hope that helps.

I have heard it said many times that a foreigner can not buy from a Vietnamese owner. But have never seen a law that stayed that. The news articles stated abovemake no mention of it. Indeed, it mentions factors such as inheriting and being able to extend the 50 year lease. So it seems the intent is not to preclude one from buying from a VNese. How on earth could they implement the purchase of , say. Just the bard land to build a villa. Land is all leased from the government by Vietnamese. I guess your saying there are locals were there are villa.                     “ developments”.
  At any rate I would like to see a law that says one can not buy from a VNese citizen. Maybe someone knows of one.

Diazo wrote:

I have heard it said many times that a foreigner can not buy from a Vietnamese owner. But have never seen a law that stayed that. The news articles stated abovemake no mention of it. Indeed, it mentions factors such as inheriting and being able to extend the 50 year lease. So it seems the intent is not to preclude one from buying from a VNese. How on earth could they implement the purchase of , say. Just the bard land to build a villa. Land is all leased from the government by Vietnamese. I guess your saying there are locals were there are villa.                     “ developments”.
  At any rate I would like to see a law that says one can not buy from a VNese citizen. Maybe someone knows of one.

Just relaying back to you what my Vietnamese lawyer told me.

There is no law that stipulates you can not buy from any random viet ... i specifically do my "shopping" on these grounds. If i see a house/land that i  believe i would be interested in buying, i literally track down the owners and "ask if they want to sell" .... lawyer does the paperwork, and i completely bypass the headache of Viet Realtors.

Percentages of ownership are regulations to stop/prevent foreigners from monopolizing an area, or industry. ( X units per Ward / X% of Entire condo ).

Code ... must have a different lawyer than I have, whom is instructing me the opposite of his advice.

JayJones wrote:

There is no law that stipulates you can not buy from any random viet ... i specifically do my "shopping" on these grounds. If i see a house/land that i  believe i would be interested in buying, i literally track down the owners and "ask if they want to sell" .... lawyer does the paperwork, and i completely bypass the headache of Viet Realtors.

Percentages of ownership are regulations to stop/prevent foreigners from monopolizing an area, or industry. ( X units per Ward / X% of Entire condo ).

Code ... must have a different lawyer than I have, whom is instructing me the opposite of his advice.

So how does your lawyer verify how many units in a ward that is owned by foreigners under your scenario? And i'm curious how many properties have you successfully purchased directly from a Vietnamese who has a red book and then getting it converted to a pink book? Or maybe you are married to a Vietnamese wife and buying under that guise?

But if you are telling me you are an American expat living in Vietnam not married to a Vietnamese and buying single family houses or land directly from Vietnamese citizen, I don't believe it. Lawyers here are scammers too but i'm pretty positive that you can't buy it from Vietnamese or else we will see an influx of foreigners buying single family houses.

Mind you all I have no clue. But it seems a contradiction that the gov't wants to encourage foreign ownership, but you can not buy from Vietnamese. As for counting the numbers in award I doubt one of these crooked folks is going to count anything but money. It seems the article referenced above doesnot stipulate marital status or anything like that In regards to foreigners owing a villa.
  If a lawyer is advising otherwise I imagine he would gladly give the legal reference. But then lawyers might be steering people the direction their other clients want them to go.
  At any rate I am still wait f to see the legal reference that precludes a foriener from buying from a Vietnamese.  Honestly it make no sense to do so. I have tried to figure out a logical reason to try a spur foreign purchase but limiting who you can purchase from. Maybe be we will all figure it out someday. But by then the law will change!!!!

CoderX10 wrote:

Diazo wrote:

Some good links but at least the most interesting to me, the 5th, is old news for sure. This has been hashed about forever. It is said to be the law that foreigners can own and have the house book in their name. But still no ones seems to have been able to do it.
Interesting the dateline on the , 5th link was 2014 and it said the law was enacted to spur a poor housing market.

Diazo - I'm not even sure I want to get into the middle of this mess but you are "technically" correct since no foreigner have been able to have a "house book" (pink book) in their name. I say the word "technically" is that you have to keep in mind that the law for foreign ownership was passed in 2015. Foreigners are only allowed to buy houses as part of a large "NEW" development. As such, the development projects that foreigners are allowed to purchase have not been completed yet and "technically" they have not received the pink book. But once the project is completed, the developer will apply for the pink book in the foreigners name. Generally speaking, developers sell the projects 2-3 years in advance of completion to raise equity for the development since the cost of debt is very costly. 

Foreigners can't buy the single family houses as we see on the street but only houses in large "new" development. A good example is the Swan Park development in Dong Nai. That project is sold out and many foreigners purchased townhouses there, such as your good friend Delafon. Once it is completed in a few years, the foreigners will get their pink book in their name.

Thank you Coder,

This whole topic has fascinated me, much like anticipating a train wreck.  But I was having trouble figuring out the angle.

Then "unfinished" project.  A beautiful angle, well known the world over. I first discovered this when I was living in Italy back in the '70's.

So nothing is new.

And what's better than to sell something to a foreigner, who in all likelihood is not planning on spending the rest of their lives here,   They will even get the official book showing their ownership when the project is "completed".

I can't wait.

So, as Diazo as asked numerous times, let's see your book.
Until then, feel free to put as much money you want into your "home", but I am only interested in the money you get out.
I've spent a lifetime putting money into homes, that I never got back. No problem with that.
But I never called it an Investment.

1) No I am not married, No i do not have any ethnic / family ties to any viet national.

2) The law you quoted 250 per ward is YOU ( a person / entity ) may not buy more than 250 units per ward ( NOT 250 total foreigners per ward ).

I have attempted to purchase land, but was denied to the location proximity of a military compound ( I actually think it was some type of military barracks ( but im not bold enough to knock on their door and ask ) ... what is called an "exclusion zone".

Decree No. 99/2015/ND-CP - foreign nationals are not allowed to own houses in land areas zoned for national defense and security.

I believe Viets call this the "Ministry of Public Security" that ultimately grants permission to a foreigner, but there is no "public map" that marks these zones ( For obvious reasons ).

LOL... you claim Lawyers are scammers, yet you take advice from a lawyer? Under normal circumstances, I would agree that all lawyers are "blood suckers", however, I also tend to do business by NOT PAYING until a service is completed - My lawyer only collects money AFTER the purchase is completed ( It is in his own best interest to not waste his time or mine, otherwise he is going through countless processes without being paid ( Free for me until the desired result is achieved ).

PS: I do the same for all VISA services. I don't pay until the letter/VISA is in hand.

If you don't like your lawyer, you can always ask multiple lawyers and compare results. May I suggest:

12th Floor, Saigon Tower
29 Le Duan Blvd
District 1
Ho Chi Minh City, Vietnam

Tel: +84 28 3829 5585
Fax: +84 28 3829 5618

Are you referring to me when You say “ all lawyers are scammers”. I did not mean to imply that. I was only trying to say that surely a lawyer one used would have no problem giving the legal cite.

JayJones wrote:

1) No I am not married, No i do not have any ethnic / family ties to any viet national.

2) The law you quoted 250 per ward is YOU ( a person / entity ) may not buy more than 250 units per ward ( NOT 250 total foreigners per ward ).

I have attempted to purchase land, but was denied to the location proximity of a military compound ( I actually think it was some type of military barracks ( but im not bold enough to knock on their door and ask ) ... what is called an "exclusion zone".

Decree No. 99/2015/ND-CP - foreign nationals are not allowed to own houses in land areas zoned for national defense and security.

I believe Viets call this the "Ministry of Public Security" that ultimately grants permission to a foreigner, but there is no "public map" that marks these zones ( For obvious reasons ).

LOL... you claim Lawyers are scammers, yet you take advice from a lawyer? Under normal circumstances, I would agree that all lawyers are "blood suckers", however, I also tend to do business by NOT PAYING until a service is completed - My lawyer only collects money AFTER the purchase is completed ( It is in his own best interest to not waste his time or mine, otherwise he is going through countless processes without being paid ( Free for me until the desired result is achieved ).

PS: I do the same for all VISA services. I don't pay until the letter/VISA is in hand.

If you don't like your lawyer, you can always ask multiple lawyers and compare results. May I suggest:

12th Floor, Saigon Tower
29 Le Duan Blvd
District 1
Ho Chi Minh City, Vietnam

Tel: +84 28 3829 5585
Fax: +84 28 3829 5618

Thank you, who is your lawyer over at Baker McKenzie? Maybe I can reference you and speak to him to find out more. If that is the case, then I am surely wrong and have been provided wrong information.

I provided you with information .... i do not provide my own personal identity information to strangers. You don't need to know me, to get information ... you simply need to call MULTIPLE Associations and decide which one do you believe will provide you with the best services.

JayJones wrote:

1) No I am not married, No i do not have any ethnic / family ties to any viet national.

2) The law you quoted 250 per ward is YOU ( a person / entity ) may not buy more than 250 units per ward ( NOT 250 total foreigners per ward ).

I have attempted to purchase land, but was denied to the location proximity of a military compound ( I actually think it was some type of military barracks ( but im not bold enough to knock on their door and ask ) ... what is called an "exclusion zone".

Decree No. 99/2015/ND-CP - foreign nationals are not allowed to own houses in land areas zoned for national defense and security.

I believe Viets call this the "Ministry of Public Security" that ultimately grants permission to a foreigner, but there is no "public map" that marks these zones ( For obvious reasons ).

LOL... you claim Lawyers are scammers, yet you take advice from a lawyer? Under normal circumstances, I would agree that all lawyers are "blood suckers", however, I also tend to do business by NOT PAYING until a service is completed - My lawyer only collects money AFTER the purchase is completed ( It is in his own best interest to not waste his time or mine, otherwise he is going through countless processes without being paid ( Free for me until the desired result is achieved ).

PS: I do the same for all VISA services. I don't pay until the letter/VISA is in hand.

If you don't like your lawyer, you can always ask multiple lawyers and compare results. May I suggest:

12th Floor, Saigon Tower
29 Le Duan Blvd
District 1
Ho Chi Minh City, Vietnam

Tel: +84 28 3829 5585
Fax: +84 28 3829 5618

What lawyer in their right mind will work for you for free without a retainer? Until the task is complete? Lol you said the authorities haven't mapped out the security zones so how do you know where you can and cannot buy? Ohh I understand now, you pick a property, track down the owner somehow, have your attorney draft up an SPA offer for free, submit it to the owner, take it to the government and find out you can't buy it cause of the zone. And you keep repeating this process until something sticks. Understood. But I will call baker McKenzie and see if they would take on a similar project for free. Will report back.

Wxx3 wrote:

Then "unfinished" project.  A beautiful angle, well known the world over.
...
They will even get the official book showing their ownership when the project is "completed".

As CoderX10 already wrote:
As such, the development projects that foreigners are allowed to purchase have not been completed yet and "technically" they have not received the pink book. But once the project is completed, the developer will apply for the pink book in the foreigners name. Generally speaking, developers sell the projects 2-3 years in advance of completion to raise equity for the development since the cost of debt is very costly.

I read a 20-page contract of such a new development project.
In this project everything is regulated down to the smallest detail.
If the handover of the house is delayed, the developer must pay a penalty, defined in the contract, for each additional day.
After handing over the house, the buyer must receive the Red Book within one year at the latest, otherwise he can withdraw from the contract and get back the already paid 95% of the purchase price.
Upon receipt of the Red Book, the buyer must pay the remaining 5% of the purchase price.

As I already wrote, everything is regulated down to the smallest detail.
But if the developer is a cheater or delivers poor quality, of course, you still lose.
Therefore you have to clarify beforehand how serious the developer is.
But in this sector there are also risks in other countries, e.g. if the general contractor does not pay the workmen or becomes bankrupt.

JayJones wrote:

1) No I am not married, No i do not have any ethnic / family ties to any viet national.

2) The law you quoted 250 per ward is YOU ( a person / entity ) may not buy more than 250 units per ward ( NOT 250 total foreigners per ward ).

I have attempted to purchase land, but was denied to the location proximity of a military compound ( I actually think it was some type of military barracks ( but im not bold enough to knock on their door and ask ) ... what is called an "exclusion zone".

Decree No. 99/2015/ND-CP - foreign nationals are not allowed to own houses in land areas zoned for national defense and security.

I believe Viets call this the "Ministry of Public Security" that ultimately grants permission to a foreigner, but there is no "public map" that marks these zones ( For obvious reasons ).

LOL... you claim Lawyers are scammers, yet you take advice from a lawyer? Under normal circumstances, I would agree that all lawyers are "blood suckers", however, I also tend to do business by NOT PAYING until a service is completed - My lawyer only collects money AFTER the purchase is completed ( It is in his own best interest to not waste his time or mine, otherwise he is going through countless processes without being paid ( Free for me until the desired result is achieved ).

PS: I do the same for all VISA services. I don't pay until the letter/VISA is in hand.

If you don't like your lawyer, you can always ask multiple lawyers and compare results. May I suggest:

12th Floor, Saigon Tower
29 Le Duan Blvd
District 1
Ho Chi Minh City, Vietnam

Tel: +84 28 3829 5585
Fax: +84 28 3829 5618

Following your recommendation, I reached out to Baker McKenzie at the information you provided and spoke to Gia Long Nguyen. The same person that co authored the article that you did a great job of paraphrasing regarding foreign ownership even down the specific decree. 

https://www.bakermckenzie.com/en/insigh … ers-right/

In speaking with Long, he stated "there have been no case study that he is aware of in his law firm or any others of a successful transaction of a foreigner buying residential or land from Vietnamese citizen and getting the red book converted to a pink book. He also stated, "based on current regulation, it is not achievable and will not get approved by the government. The government is working on new regulations and can take maybe a month, 2 month, 6 months, 1 year, etc., but at the moment there are no new regulation."

He did say you can strike a long term lease deal with the landlord. But with that long term lease there will be no pink book. Just a lease agreement with you and the landlord that defines payment and duration of the lease. Similar to that of leasing a car or a house to live in. The difference between a long term lease and pink book is that you have an option to extend for another 50 years when the initial term expires with the pink book. With a pink book, when you go sell your asset back to a another foreigner, the clock starts over again regards to the 50 years. Long term lease does not provide that, big difference.

I'm still standing behind my statement even more so after speaking with Long, "FOREIGNERS CANNOT BUY PROPERTIES FROM VIETNAMESE."

You just lost all credibility. And if you and your pro bono attorney wants to keep "shopping" around town, you'll come to find out real quick during check out time there is nothing in the shopping cart to buy. Time well spent my man. Good day!

First, I stated "my legal representation" as a contact.... and left it up to each individual to collect information ( hopefully to compare to others )

I don't know the person you spoke with .... Does that matter? However, Be clear on a few things:

Second: Current Law & clarity of what you have stated by 3rd party conversation, and what i have already stated: Stipulates that the "provinces" must certify to the Ministry of Security", which is what they claim to be the hold up. However, the Ministry has already granted over 300k certifications of permission.

3rd: I have already received one certification "Permission" in one location: Can read you read Vietnamese ( If you want to see this confirmation letter, you simply have to be very nice and ask  - but keep in mind, you are attempting to disprove an entirety based on a single factor )? However, I did not purchase that location due to price and easement issues ( i considered them to be "easement risk, based on experience in other nations - not Vietnam ) .

4th: the term of "case studies"... is based on their own access to cases to their own cases. ( There is no such thing as "Public Record" ESPECIALLY in terms of what the state deems to be "NATIONAL SECURITY" ) However, if you want confirmation that US Citizens currently own property in Vietnam. There are 2 US Citizens that own property near the ocean in Viet Nam ( NOT Sai Gon ).

( However, these purchases were made prior to 2015 ), and are not regulated or were conducted under the current laws. ( I never thought to ask them about a pink book, or question the process they went through to obtain it, since PRE-2015 would not apply to ME current day )

You claim something is not possible based on a single factor ... ok, your choice ... The factor you claim impossible, i know first hand to be possible ), but to agree with everyone, no i have not "successfully" gone through ALL factors to and purchased land YET.

If you want "Information" of how to do something, you simply have to attach yourself to people that are actively attempting it.

Thank goodness I finally got  what deem the current answer on whether foefiegbets havebeen able to get title to house bought in Vietnam. Ain't hapeni g yet it seems.
  Still does not answer the question of buying from a Vietnamese citizen. But I suppose by default no foreigner is buying from anyone if they desire to do so in their own name.
  Gosh I feel more compelled to invest my money now in VNese RE!!!!  Thanks guys for the info.

You're all forgetting the most important law of the jungle. Where money talks and relationships gets things done.

My sister bought land with a 50 year lease a couple of months after the new law took effect. Yes it is possible as she bought it as a foreigner and not “viet kieu”. Lawyers of big Vietnamese developers didn't and still don't understand the legal definition of a viet kieu as like all laws, it's open to interpretation. So anyway, she bought it legally as a foreigner. Of course it helps that the whole of the town know her and she grew up there. I think she even went to school with one of the local land administrators who dealt with her case.

Diazo wrote:

Placard is so full of crap. Bet a load of money he is a Viet Kieu who's lips are moving. Nothing he says has any basis in reality. He floats a lot of terms he has heard while being perhaps a manicurist. Now he has come back to Vietnam and thinks he can BS his way through it all.

You can choose to ignore his advice without  insulting a group who make up a large proportion of these forums. Viet kieu have been investing in the motherland long before the ***

Hey Diazo, why don't you buy some condos in Vietnam for your children to inherit. ***

Oh yeah, she bought it from a Vietnamese local and not from a big developer

JayJones wrote:

First, I stated "my legal representation" as a contact.... and left it up to each individual to collect information ( hopefully to compare to others )

I don't know the person you spoke with .... Does that matter? However, Be clear on a few things:

Second: Current Law & clarity of what you have stated by 3rd party conversation, and what i have already stated: Stipulates that the "provinces" must certify to the Ministry of Security", which is what they claim to be the hold up. However, the Ministry has already granted over 300k certifications of permission.

3rd: I have already received one certification "Permission" in one location: Can read you read Vietnamese ( If you want to see this confirmation letter, you simply have to be very nice and ask  - but keep in mind, you are attempting to disprove an entirety based on a single factor )? However, I did not purchase that location due to price and easement issues ( i considered them to be "easement risk, based on experience in other nations - not Vietnam ) .

4th: the term of "case studies"... is based on their own access to cases to their own cases. ( There is no such thing as "Public Record" ESPECIALLY in terms of what the state deems to be "NATIONAL SECURITY" ) However, if you want confirmation that US Citizens currently own property in Vietnam. There are 2 US Citizens that own property near the ocean in Viet Nam ( NOT Sai Gon ).

( However, these purchases were made prior to 2015 ), and are not regulated or were conducted under the current laws. ( I never thought to ask them about a pink book, or question the process they went through to obtain it, since PRE-2015 would not apply to ME current day )

You claim something is not possible based on a single factor ... ok, your choice ... The factor you claim impossible, i know first hand to be possible ), but to agree with everyone, no i have not "successfully" gone through ALL factors to and purchased land YET.

If you want "Information" of how to do something, you simply have to attach yourself to people that are actively attempting it.

You recommended to me and they are one of the top law firm in town. I spoke to the person where you googled the article from Baker Mckenzie and took away all the terminology you are using. Ministry of this...decree that. He co authored the article. His specifically is real estate!!!

You got permission but back out cause of pricing? You didn't think about pricing before you seek permission? They actually let you notarized the contract? You went through all that work and got permission then backed out? Geez if I was your lawyer I would stop working with you cause obviously I would be making no money under your arrangement while doing a ton of bs work. Put a deal together and got permission for you to back out causing of pricing. Wow.

He sounds like one of those public defender, if you can't afford one one will be appointed for you. Lol

2 cases before 2015 is a joke and so is your credibility. You weren't sure if pink book was involved? You sound like a guy that is talking a lot about a topic that you know nothing about.

Keep window “shopping” buddy!

Now i understand why the Chinese are so disliked in Vietnam ... Where to begin ?!?!...

Ill begin in reverse as a response:

CoderX10 wrote:

2 cases before 2015 is a joke and so is your credibility. You weren't sure if pink book was involved? You sound like a guy that is talking a lot about a topic that you know nothing about.

There is even one person who has admitted to using one of these criteria that has posted in the last 72 hours... AND in this very thread... no need for me to quote names.

The Criteria to purchase land prior to 2015:
1. Foreign company set up in Vietnam (but not real estate developers).
2. Foreign company owners, managers working in Vietnam.
3. Foreign Individuals with significant contribution to Vietnam.
4. Foreign Individuals with special skills demanded by Vietnam.
5. Foreign Individuals married to a Vietnamese citizen.
Keep in mind that these 5 criteria still exists today.

CoderX10 wrote:

You recommended to me and they are one of the top law firm in town.

I made no such claim ... you simply assumed that.

CoderX10 wrote:

I spoke to the person where you googled the article from Baker Mckenzie and took away all the terminology you are using. Ministry of this...decree that. He co authored the article. His specifically is real estate!!!

One does not need to "google search" who they conduct business with. This should have been obvious.

CoderX10 wrote:

You got permission but back out cause of pricing?

What other word did i use? ... could it have been "Easement" ? Would you buy land that you could not legally access? O wait, you completely ignored that word! Perhaps you may not know what it means? Or perhaps your English is too weak to read?

Allow me to give you an explanation of what "Easement" is...  Lets say you own an Island in the south china sea ... BUT, China is claiming the waters as their domain. How do you legally access that land? -- this is called "Easement" ... Since one requires "money" to fix, it generally goes back to "total price" ... In which case ( Price ) would also become an issue, unless you don't mind "CONSTANTLY" paying more and more money ( Which is not generally how western cultures do business ).

CoderX10 wrote:

He sounds like one of those public defender, if you can't afford one one will be appointed for you. Lol

If you believe that Association is a "Public Defender", why would you quote or repeat what an association told you? You respect a person only when they tell you what you want to hear, but then disrespect the person to utilize an insult to another person .... Interesting!

CoderX10 wrote:

Keep window “shopping” buddy!

Ill take your sarcastic wishes and continue "shopping" ... in fact, already made a bid on land in D9 ... so "Thanks".

JayJones wrote:

Now i understand why the Chinese are so disliked in Vietnam ... Where to begin ?!?!.

The roots of Vietnamese enmity towards China go back centuries, in fact millennia, but that is no reason for you to attack another expat based on his ethnicity.

JayJones wrote:

Perhaps you may not know what it means? Or perhaps your English is too weak to read?

Another ad hominem attack.

Meh .... I tolerated the first disrespect for his failure to read the multiple posts .... I simply granted only one forgiveness ... After that, I tend to draw attention to a person intentionally misquoting, then issuing an insult to an Associate .... Obviously we are back in Kindergarten and issuing insults ( I notice you singled my insults out, but failed to point out his ).... Its ok... the rest of us are capable of reading.

May as well cool down guys. The post are really having nothing to do with the topic now. Perhaps you can PM each other and keep the mud slinging private. We all have are views on real estate investing in many aspect. Whether it be in our mother country or here. Granted it is and to determine here if you can even legally own property or if the seller has a right to sell it. But perhaps better if you try to keep the conversation better focus.

Andy Passenger wrote:

Wxx3 wrote:

Then "unfinished" project.  A beautiful angle, well known the world over.
...
They will even get the official book showing their ownership when the project is "completed".

As CoderX10 already wrote:
As such, the development projects that foreigners are allowed to purchase have not been completed yet and "technically" they have not received the pink book. But once the project is completed, the developer will apply for the pink book in the foreigners name. Generally speaking, developers sell the projects 2-3 years in advance of completion to raise equity for the development since the cost of debt is very costly.

I read a 20-page contract of such a new development project.
In this project everything is regulated down to the smallest detail.
If the handover of the house is delayed, the developer must pay a penalty, defined in the contract, for each additional day.
After handing over the house, the buyer must receive the Red Book within one year at the latest, otherwise he can withdraw from the contract and get back the already paid 95% of the purchase price.
Upon receipt of the Red Book, the buyer must pay the remaining 5% of the purchase price.

As I already wrote, everything is regulated down to the smallest detail.
But if the developer is a cheater or delivers poor quality, of course, you still lose.
Therefore you have to clarify beforehand how serious the developer is.
But in this sector there are also risks in other countries, e.g. if the general contractor does not pay the workmen or becomes bankrupt.

OK.
Let me talk S L O W L Y
The project will never be completed before the contractor goes bankrupt.
Yes, you can live in that apt until the end of time or you want to leave Vietnam.
Yes, someone will probably give you some amount of money for it.
You will never get your initial investment back.

This scam works because it plays to some expats belief that they are smarter than than the locals.
They can make money, but Vietnamese can't.
Hardly any selling involved. Just post occasionally on places like expat.com
I only write here because there are some younger, naive people, who mean well, but should better understand the dangers.

You are in a country of wonderful people, that is run by a bureaucracy that does what it wants at any level. The longer the contract, the more it means it is not enforceable.

Lastly, think of this, do you really think there are not very rich Vietnamese who can not make these "no-brainer" investments?

@Wxx3

OK.
Let me talk S L O W L Y

I never said I wanted to invest in real estate in Vietnam.
I want to leave our properties to my children and their children's children.

I would never gamble with Vietnamese real estate.

I only want say, that there are also serious developer in Vietnam and that unserious developer also exists in other countries.