Hi LSX Lawfirm, my name is Michael, American nationality. Currently, I plan to go to Vietnam to invest in housing construction. I want to know if I am a commercial property owner? Please advise me on the conditions to be an investor in commercial housing construction if possible. LSX Lawfirm will give you an article about: “Investors in commercial housing projects must in Vietnam”, as follows:
Legal grounds
Law on Housing 2014
Law on Investment 2020
The foreign entities eligible for the homeownership in Vietnam
1. Firstly
Foreign entities eligible for the homeownership in Vietnam include:
a) Foreign entities who invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;
b) Then, Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam (hereinafter referred to as foreign organization);
c) Then Foreign individuals who are allowed to enter Vietnam.
It also related to “Investors in commercial housing projects must in Vietnam”
Related article:
What should foreigners pay attention to when buying a house in Vietnam?
Procedures for renting houses for foreigners in Vietnam
2. Secondly
The foreign entities eligible for the homeownership in Vietnam if they:
a) Firstly, Invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law;
b) Secondly, buy, rent and purchase, receive, or inherit commercial housing including apartments and separate houses in the project for housing construction, except for areas under management relating to national defense and security as prescribed in regulations of the Government.
Therefore, if you are a foreign individual coming to Vietnam to invest in housing construction, you can own a house in the following forms:
- Buy
- Then, rent
- Purchase
- Then, receive
- Inherit commercial housing (including apartments and separate houses in the project for housing construction, except for areas under management relating to national defense and security as prescribed in regulations of the Government.)
Investors in commercial housing projects must in Vietnam
Here, we would like to give you the conditions for you to become an investor in building commercial housing through the above forms.
Firstly, you be enterprises or cooperatives established and operated under Vietnamese regulations of law.
Secondly, you have a capital deposit or a bank guarantee to execute each project in accordance with the law on investment.
Thirdly, you must be licensed for real estate trading as prescribed.
Related questions about “Investors in commercial housing projects must in Vietnam”
Authority to issue land recovery decisions?
Pursuant to Article 66 of the 2013 Land Law, the authority to issue recovery decisions prescribed as follows:
People’s Committees of provinces and centrally run cities (provincial People’s Committees)
Provincial-level People’s Committees shall decide to withdraw in the following cases:
Withdrawal from organizations, religious establishments; overseas Vietnamese; foreign organizations with diplomatic functions, foreigner enterprises, except for cases where residential land recovered from people. Overseas Vietnamese that allowed to own houses in Vietnam. Then it is related to foreign entities eligible for the homeownership in Vietnam
To recover agricultural land belonging to the public land fund of communes, wards and townships. It related to Investors in commercial housing projects must in Vietnam.
Contact LSX Lawfirm
Finally, hope this article is useful for you to answer the question about: “Investors in commercial housing projects must in Vietnam”, please contact LSX Law firm : +84846175333 or Email: [email protected]
Conclusion: So the above is Investors in commercial housing projects must in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
