As the amended Vietnam housing law states, from July 2015 foreigners have the right to own the properties for maximum 50 years and enjoy the same rights to lease transfer or sell the property as Vietnamese citizens.
To lease property in Vietnam, the owner needs to follow these steps:
1. Registering Business Certificate (BC) and Tax Identification Number (TIN) Notification
Business Certificate is issued by People’s Committee of District where the property locates.
Tax Identification Number Notification is issued by Tax Department
Even though BC and TIN are issued by different departments, The People’s Committee of District 7 can coordinate with Tax Department to provide BC and TIN together.
To have BC and TIN, the owners need to have the following documents:
- A true copy property ownership certificate or sale contract which provide the real owner information
- A true copy of Vietnamese Identification card
- A true copy of Vietnamese family book
- Filling the requested forms.
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- A plastic folder to keep all above papers
All the documents are submitted to People’s Committee of District by owner.
Notes:
· A true copy is a copy having stamp from authorized party such as notary office or People’s Committee of Ward
· Even though foreigners can lease the property, People’s Committee of District has not issued BC for foreigners yet. So foreigners need to authorize to a Vietnamese to lease the property. In this case, owner need to submit the authorization letter issued by notary office.
2. Registering Resident Book with local police
The Resident Book is a necessary document for all tenants to prove their residential address in Vietnam. It is also one of necessary document that tenants need to submit to Immigration office for renewing visas.
To have resident book, the owners need to have the following documents:
- A copy of property ownership certificate or sale contract which provide the real owner information.
- A copy of Business Certificate
- A copy of Vietnamese Identification card
- A copy of tenant’s passport, visa and latest immigration date
- Resident book (we can buy at photo copy shop)
All the documents are submitted to local police where the property locates. The document must be submitted by owners.
3. Paying income tax, VAT and license tax
There are 3 kinds of taxes that landlord needs to pay to Vietnam State Treasury. They are:
- Income tax: 5% of the rent
- VAT: 5% of the rent
- License tax: VND 1,000,000 per year
The license tax must be pay every year even there is no leasing at the property. If the owners don’t want to pay the license tax, the owner should do paper work to terminate the leasing business.
To pay the taxes, the owners to have the following documents:
- A copy of Business Certificate
- A copy of Vietnamese Identification card
- A copy of Tax Identification Number (TIN) Notification
- A copy of lease contract
- Filling the requested form.
Please click here to download
For futher information or any questions, please feel free to contact us:
Ms. Anne Phan
Mobile phone: 0908.280.293 (in Vietnam); +84.908.280.293 (in other countries)
The phone numbers also for
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ProHOUSE Co., Ltd
Email:
anne.hcmc@gmail.com
Skype: prohousevn