More overseas Vietnamese to own houses in country

According to the report, beneficiaries will include nationals bearing Vietnamese citizenship who have legally resided in Vietnam for three months or more.

They will also include nationals of Vietnamese origin under the 2008 Citizenship Law if they have legally resided in Vietnam for three months ore more and meet one of the following criteria: (1) are directly investing in Vietnam, (2) are rendering great services to the nation, (3) are cultural activists, scientists and those with special skills who are now working in Vietnam, or (4) have a Vietnamese wife or husband living in Vietnam who owns a house as their property in Vietnam.

For those of Vietnamese origin who do not fall into the second category, they can own a house or an apartment if they are granted visa exemptions and have legally resided in Vietnam for three months or more. Meanwhile, the revised article 121 of the Land Law allows Vietnamese nationals abroad to rent the property to another party to manage for a certain period of time while they are away.

In a supervisory report, the National Assembly Committee for Economic Affairs agreed to the need to amend the Housing Law, creating more favourable conditions for Vietnamese nationals abroad to buy and own houses in the country.  

Some NA committee members said that for those in the second category, people who have special skills will be allowed to buy and own houses in Vietnam if they agree to return and work in Vietnam.

Others said that all Vietnamese nationals residing abroad are allowed to buy a house or an apartment in Vietnam to avoid illegal transactions later. According to committee chairman Ha Van Hien, those in the second category are of a special group who are encouraged by the State, so policies for them are also different.

Currently, more than 3 million Vietnamese nationals are residing abroad, of whom 70 percent bear Vietnamese citizenship and the remainder are people of Vietnamese origin. To date, more than 140 Vietnamese nationals have received house ownership certificates.