Notes in the lease agreement for foreigners

If you are planning to rent a house or start investing in this type, do not ignore the notes below.

Condition of the lease

According to Articles 131, 132 and 133 of the Law on Housing, the lease contract for foreigners provides for tenants as follows:

– Being a foreign organization or individual permitted to enter Vietnam for a period of 3 consecutive months or more.

– If the lessee is a Vietnamese individual residing overseas, he / she must be entitled to own or rent a house in Vietnam.

– If the lessee is an organization, it depends on the place of business registration.

The lease contract must meet the condition of the lessee in accordance with the law

The lease contract must meet the condition of the lessee in accordance with the law

If you are planning to enter into a lease agreement with a foreigner, it is important to keep in mind the above three precautions to avoid ineligible housing conditions, which can take time and cause unnecessary disputes when the contract is required early termination.

Rental conditions

In the lease agreement for foreigners, some principles of tenancy conditions should be followed. Houses for rent to foreigners must meet the strict requirements of quality and safety. The rental contract must state the exact address of the rented house and note whether the rental area is outside the security or defense area. It should be thoroughly verified to ensure fire prevention and fighting. In particular, rented houses are not subject to any dispute over ownership or use rights.

Houses for foreigners must meet the requirements of quality and safety

Houses for foreigners must meet the requirements of quality and safety

Register the necessary procedures

Individuals or foreigners renting houses or apartments are considered as a business activity in the form of individual business households. According to the current Vietnamese law, the person signing the house lease contract with foreigners are required to register at the People’s Committee of the district where the house is rented. When registering for landlord business, you should bring a certificate of ownership of house, land, ID card and pay license tax. Registration for foreigners renting houses, people who have rented houses will be granted a tax code.

The lessor must register for full procedures when renting a house to foreigners

The lessor must register for full procedures when renting a house to foreigners

In addition, your lease agreement for foreigners must also be lodged and registered for security and order. Temporary residence declaration forms include: temporary residence declarations for foreigners, house lease contracts, visas remaining valid in Vietnam, house ownership certificates (certified, Verification and identification of the people of the rental housing. Dossiers for security and order registration include: Curriculum vitae of the household head, application for certificate of curriculum security, business registration certificate and registration for fire prevention and fighting. . This helps the authorities to manage and control the residence and stay of foreigners in Vietnam. At the same time, this helps the landlord not violate the law and be fined due to failure to comply with regulations on security and order.

Rental contract

The lease agreement for foreigners should note the following:

– The lease contract must be notarized if the lease term is over 6 months. Except for the following cases, the house lease contract need not to be notarized: the house rent contract is less than 6 months, the house lessor is the organization having the function of dealing in the house.

– The lease contract must not use foreign currency. Every unit of currency in the lease must be converted into Vietnam dong. Rental contracts used in other foreign currencies are invalid before the law when the dispute occurs, the risk.

Taxes to be paid

When signing a lease agreement for a foreigner, the landlord must pay attention to the taxes payable. Since the house lease contract with a foreigner is considered to be a business activity, it is required to declare and pay personal income tax, personal income tax and value added tax in accordance with the regulations of the State. The tax amount payable is based on the capital amount registered in the business license of such individual business household.

Of which the value added tax for home and office rental is 10%. Personal income tax calculated on a progressive basis shall apply to incomes from production, business, salaries, wages and remuneration. The taxable income is VND 5 million / month, 5%, 5- VND 10 million / month, 10%, VND 10-18 million / 15%, VND 18-32 million / 20%, VND 32-52 million / Month: 25%, from VND 52-80 million / month: 30%, over VND 80 million / month: 35%.

In addition, if you are interested in the Form of Master Agreement for renting a Master English Apartment in Viet Anh, Realestatevietnam will send you a document with full information on the rights and obligations of the parties during the lease / rental process. household, lease term, cost and time of payment, …

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