Can a company with 100% foreign owned capital be allowed to buy or receive transfer or donation of houses and land (outside industrial parks) from Vietnamese individuals or organizations in Vietnam? If so, can the company get the name on paper house and land? How long is the name?
In this regard, the Ministry of Construction said that under the provisions of Clause 2, Article 76 of the Government’s Decree No. 99/2015 / ND-CP of October 20, 2015 detailing and guiding the implementation of a number of the case of the Law on Housing, a 100% foreign owned company operating in Vietnam if it is owned by a house in Vietnam shall only be entitled to purchase commercial housing in the investor’s home construction investment projects or purchase of houses of foreign individuals and organizations that have purchased houses in Vietnam.
In addition, bequeathed or inherited houses of households or individuals or donated to houses of organizations in investment projects on construction of dwelling houses which are permitted to be owned under regulations.
100% foreign-owned companies operating in Vietnam are not allowed to buy houses of Vietnamese households and individuals; they are not allowed to buy houses of Vietnamese organizations but are not project investors, donations are not permitted to be donated or bequeathed to houses other than investment projects on construction of dwelling houses.
The term of home ownership is based on the investment certificate.
A 100% foreign owned company operating in Vietnam in accordance with the Housing Act 2014 and Decree No. 99/2015 / ND-CP shall be issued with a certificate of land use right, ownership of houses and other assets attached to land for purchased dwelling houses.
According to the provisions of Point d, Clause 2, Article 161 of the Housing Law of 2014 and Article 77 of Decree No. 99/2015 / ND-CP, 100% foreign capital companies operating in Vietnam if they buy houses in Vietnam Nam shall be entitled to own the maximum house for the term stated in the investment certificate granted to the company. Before the expiry of the duration of the ownership of the house, the company shall be entitled to extend the certificate of investment and wishing to extend the duration of the house ownership shall be entitled to a one-time extension which shall not exceed the term of the certificate. The investment has been extended.
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