Scope of real estate trading conducted by foreign-invested enterprises
Real estate trading is a conditional business line as specified in Appendix 4 to the List of conditional investment and business lines of the Law on Investment. This article, LSX Lawfirm will provide for you scope of real estate trading conducted by foreign-invested enterprises, as follows:
Legal grounds
Law on real estate trading 2014
Law on investment 2020
What is real estate trading?
Real estate trading means capital investment in building, purchasing, and receiving real estate for sale, for transfer, for lease, for sublease, or for lease purchase; provision of real estate brokerage services; real estate trading floor services; real estate counseling services or real estate management for profit purposes.
Related article: Procedures for renting houses for foreigners in Vietnam
Procedures for setting up a real estate brokerage company
Scope of real estate trading conducted by foreign-invested enterprises.
- Firstly; rent buildings for sublease.
- Secondly; build houses on the land which is leased by the State for lease; build houses or constructions other than houses on such land for sale, for lease, or for lease purchase.
- Thirdly; receive total or a part of real estate project from investors to build buildings on it for sale, for lease, or for lease purchase.
- Then; build houses on land which is allocated by the State for sale, for lease, or for lease purchase.
- Finally; build buildings on land which is leased out or transferred in industrial parks, industrial complexes, export-processing zones, hi-tech zones, or economic zone for trading for the proper land use.
Thus, land is an asset owned by the state, having important implications for the economy, society, security and national defense. The law restricts the scope of rights of foreign-invested enterprises.
Related questions
Foreigners may not own houses in Vietnam when it does not meet the conditions for owning houses in Vietnam.
If a foreign individual marries a Vietnamese citizen; he/she is entitled to own a stable and long-term house; has the same rights as a house owner as a Vietnamese citizen.
Foreigners may buy and own no more than 30% of the apartments in an apartment building. If it is a separate house; including villas and adjacent houses; in an area with a population equivalent to a ward-level administrative unit; only buy, rent-purchase, receive as a gift; inherit and own no more than 250 houses.
Foreign individuals are allowed to lease houses to use for purposes not prohibited by Law. Before renting a house; the owner must send a written notice of the house lease to the district-level housing management agency at the house’s location. Taxes from this housing rental must be paid under the Law.
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