1. New regulations on the form of ownership of houses by overseas Vietnamese
According to the current Law on Housing 2014, overseas Vietnamese who are allowed to enter Vietnam can have their house ownership recognized through the following forms:
– Form of purchase, lease-purchase of commercial houses by real estate enterprises;
– Buying, receiving as gifts, exchanging or inheriting houses of households and individuals;
– Overseas Vietnamese who can enter into Vietnam can receive the transfer of residential land use rights in the commercial housing construction investment project. They have the option to sell the ground and organize the construction of houses themselves.
(Article 8, Housing Law 2014)
Recently, the draft Housing Law introduced new regulations regarding the form of house ownership for overseas Vietnamese who have permission to enter Vietnam.
– Through investment in building houses on inherited, donated, borrowed, leased or transferred land;
– Buying and renting commercial houses of real estate enterprises;
– Buy, receive as a gift, receive, exchange or inherit houses of individuals.
In addition, the Draft Housing Law also clarifies many more contents. In which, there are regulations on subjects who are allowed to own houses… And the form of ownership of houses in Vietnam by foreign organizations and individuals. Accordingly, Article 10 of this Draft Law stipulates that subjects (including foreigners) who are eligible and have lawful houses… are recognized as having house ownership rights. However, this provision does not apply to state-owned housing.
2. The “overlapping” of draft legislation on commercial housing projects
Regarding the form of land use to implement investment projects to build commercial houses, the current Law on Housing provides as follows:
– Having the right to use residential land;
– Have the right to use residential land and other land.
The Draft Housing Law adds 02 new cases:
– Have the right to use non-agricultural land that is not residential land. But must have paid the land use levy or paid the land rent and paid the one-off land rental for the entire lease period;
– Receive the transfer of the right to use residential land and other land.
However, there are opinions that the above content is not consistent with the Draft Land Law. Specifically, the Draft Land Law does not provide for the above two new forms of land use. It also stipulates items such as:
– Commercial projects in case the State recovers land to create a land fund for auction of land use rights;
– Residential land or other land can only undergo changes in land use purpose for the implementation of commercial housing projects.
(Refer to Investment Newspaper dated 05/6/2023)
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