Today, LSX Lawfirm will give you an article about: “Obligations of foreign entities as homeowners in Vietnam”, as follows:
Law on housing 2014
Decree No. 99/2015/ND-CP
Decree No. 30/2021/ND-CP
Some definitions about the obligations of foreign entities as homeowners in Vietnam
Accordingly, Homeowner means any organization, household, or individual having legitimate housing through investment in housing construction, purchase, lease purchase; receipt of gift, receipt of inheritance, receipt of capital contribution; or exchange and other transactions prescribed in this Law and corresponding regulations of law.
Then, Apartment owner means the owner of an apartment or the owner of other areas in an apartment building.
Related article: Procedures for foreigners to buy apartments in Vietnam
Foreign entities eligible for the homeownership in Vietnam
Firstly, Foreign entities who invest in project-based housing construction in Vietnam.
Secondly, Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam.
Thirdly, Foreign individuals who are allowed to enter Vietnam.
So, if you are an investor in Vietnam and have a plan to set up a branch representative office in there, you are a property owner in Vietnam.
Obligations of foreign entities as homeowners in Vietnam
The foreign entity has obligations of homeowners
The foreign entity are:
- 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)
- Foreign individuals who are allowed to enter Vietnam.
They have obligations of homeowners similarly to Vietnamese citizens provided that he/she comply with following regulations:
a) If the homeowner is a foreign individual, he/she entitled to lease house(s) for lawful purposes provided that he/she notifies the agency of district in charge of housing where the house is located of housing lease as prescribed in regulations of the Minister of Construction and pays taxes on housing lease as prescribed before leasing houses.
If a foreign individual gets married to a Vietnamese citizen or an oversea Vietnamese, he/she qualifies for stable and long-term homeownership and has all rights of homeowner similarly to Vietnamese citizens;
b) If the homeowner is a foreign organization, its house(s) provided for their employees but it is not allowed to use their house(s) for lease, offices, or other purposes;
c) They pay off the total amount through credit institutions operating in Vietnam.
Related questions about ” Foreign entities eligible for the homeownership 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.
People’s Committees of districts, towns, provincial cities (District People’s Committees)
The district-level People’s Committee shall decide to withdraw in the following cases:
Recovery of land from households, individuals and communities;
Recovery of residential land of overseas Vietnamese who are entitled to own houses in Vietnam.
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