According to Resolution No. 19/2008/NQ-QH12
of the National Assembly dated 03 June 2008
(“No. 19/2008/NQ-QH12”), one of subject permitted to purchase and own
residential houses in Vietnam is the foreign individual who is hired by an
enterprise currently operating in Vietnam in accordance with the law on
enterprises (including both domestic enterprises and enterprises with foreign
owned capital) to hold a managerial position in such enterprise.
Moreover, the foreign individual must
have permission from the competent State body of Vietnam to reside in Vietnam
for a period of one or more years, and must not belong to the category of
persons entitled to diplomatic or consular immunity and privilege as stipulated
by the law of Vietnam.
Under the Law on Enterprises No.
60/2005/QH11, the manager of an enterprise means “the owner or director of a
private enterprise, an unlimited liability partner of a partnership, the
chairman of a Members’ Council, the chairman of an enterprise, a member of a
Board of Management, a director or general director, and other managerial
positions as stipulated in the charter of an enterprise.”
Hence, the foreigner should check
whether he/she is holding a managerial position in an enterprise or not. In
general, the managerial position is stipulated in the charter of the employer
where that foreigner works.