Today, LSX Lawfirm will give you an article about: “Regulations on apartment ownership period in Vietnam 2021”, as follows:
Legal grounds
Law on Housing 2014
Regulations on apartment ownership period in Vietnam 2021
Specifically, the policy on home ownership will amend and supplement the following contents:
Regarding the conditions for being recognized as house ownership:
Reviewing regulations on conditions for recognition of house ownership (in which, research on amending and supplementing regulations on conditions for recognition of house ownership rights of overseas Vietnamese in the direction of closely following land law).
Regarding recognition of house ownership:
Supplement specific regulations on apartment ownership term.
Currently, according to the 2014 Housing Law, the useful life of an apartment building determined based on the grade of construction work and the conclusion of quality inspection of the provincial housing authority.
Then, regarding the rights of house owners and users:
Review, amend and supplement regulations on the rights of house owners and users in accordance with relevant laws.
Then, regarding the obligations of house owners and users:
Review, amend and supplement regulations on obligations of house owners and users in accordance with relevant laws.
Regarding the term of house ownership:
Add new regulations on apartment ownership period.
Specifying clearly that at the end of the ownership period, the owner shall terminate the ownership of the house and the State shall recover the house for reconstruction in accordance with the law.
Can foreigners buy apartments in Vietnam?
Pursuant to Clause 1, Article 159 of the 2014 Housing Law; foreign organizations and individuals allowed to own houses in Vietnam include:
- Firstly, Foreign organizations and individuals investing in construction of houses under projects in Vietnam in accordance with the Law on Housing and relevant laws.
- Secondly, Foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam
- Thirdly, Foreign individuals allowed to enter Vietnam and do not has right to diplomatic; and consular privileges and immunities as prescribed by law
Forms of foreigners has right to own apartment in Vietnam
Accordingly Clause 2, Article 159 of the Law on Housing 2014, foreign organizations and individuals may own houses in Vietnam through the following forms:
– Firstly, Investment in housing construction under projects in Vietnam in accordance with the Law on Housing 2014 and relevant laws;
– Then, buy, rent-purchase, receive as a gift or inherit commercial houses, including apartments and separate houses in housing construction investment projects, except for areas ensuring national defense and security according to regulations.
Related questions about Regulations on apartment ownership period in Vietnam 2021
Ownership is a legal category that reflects ownership relations in a certain ownership regime; Synthesize legal regulations on property issues existing in society at a certain historical time; The rights of the subject to the property under his/her ownership include the right to possess, the right to use and the right to dispose of the owner according to the provisions of law.
According to the provisions of Clause 26, Article 4 of the 2014 Law on Enterprises (currently applying the 2020 Enterprise Law), a foreign organization is an organization established in a foreign country under foreign law.
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