November 12,2009
As one of the most attractive markets in Asia Pacific, foreign investment to Vietnam has continuously increased, regardless of global economic crisis, with USD 60 billion of approved FDI in 2008 and high expected figures in 2009. From Vietnam government‘s sound awareness of strong connection between domestic development and FDI, international investors are enjoying healthier economic environment and increasing facilities from Vietnam real estate laws.
In 2008, Resolution No 19/2008/NQ-QH12 was issued permitting foreign organizations and individuals to purchase and own residential houses in Vietnam. Accordingly, there‘re five types of foreign organizations and individuals eligible to the Resolution:
1. A foreign individual who executes direct investment in Vietnam in accordance with the investment laws, or who is employed and appointed to be managing personnel by an enterprise which is currently operating in Vietnam in accordance with the Enterprise Law (including both domestic enterprises and enterprises with foreign owned capital);
2. A foreign individual whose contribution to Vietnam has been commended with
a decoration or medal from the President of the Socialist Republic of Vietnam;
and a foreign individual who has made a special contribution to Vietnam as stipulated in a decision of the Prime Minister of the Government;
3. A foreign individual currently working in the socio-economic sector with a
university or higher equivalent qualification and being a person with special technical knowledge and/or technical skills which Vietnam requires;
4. A foreign individual married to a Vietnamese citizen; and
5. An enterprise with foreign-owned capital currently operating in Vietnam which
does not conduct real property business and which needs residential housing for the people working at the enterprise.
There‘s a Vietnamese popular idiom saying that “an cÆ°, lạc nghiá»â€¡p†which mean “to live in peace, to work in contentmentâ€. This Vietnamese spirit now is clearly expressed through the issuance of the Resolution No 19/2008/NQ-QH12 by making Vietnam become international investors‘ new home.
Lan Vo
Sales & Marketing Officer
[email protected]
VIPC Capital Management
8 Nguyen Hue St., Dist.1, HCMC, Vietnam
www.vipc.com.vn