Real Estate Legal Matters in Vietnam | ANT Lawyers
In general, it is not permitted to own land in Vietnam as a private entity because the land belongs to the people and the State of Vietnam thereby operates as the administrator. However an ownership of a right to use land is permitted according to Vietnamese Law. This so-called Land Use Right (“LUR”) Certificate provides the means to lease land from the State for Vietnamese and foreign people. This LUR Certificate entitles the land users to protect their legitimate rights and interests. The sale of a house or real estate is in fact the trans…
Foreigner Can Buy House in Vietnam | ANT Lawyers
As investment in properties oversea is a big decision, it is suggested the investor consult with real estate lawyer in Vietnam to help checking the eligibility of the developer, the construction permits and other legal documents granted for the project. It is important to review the transaction documents in regard to deposit agreement, sales agreements and other agreements the developer might propose to ensure the protection of rights, to minimize risks and ensure compliance. On November 25th, 2014, the National Assembly of the Socialist Rep…
Five types of real estate contracts abolished mandatory notarization procedure | ANT Lawyers
According to the regulation of Civil Code 2015, some of the transactions which are required to implement the process of notarization and registration according to the regulation of the laws. As real estate transactions are normally at high value, the process of notarization and registration would help parties involved to be protected from falsified transactions. As the stipulated in the Real estate trading 2014, the real estate trading agreement must be made in writing. The agreement notarizing or authenticating shall be discussed by contrac…
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New Vietnam Real Estate draft law giving more rights to foreigners in Vietnam | ANT Lawyers
ANT Lawyers’ real estate legal practice gives client legal advice on real estate legal matters in Vietnam. We are keeping track with changes in the Vietnam legal environment to ensure giving our client the best advice. Real estate market in Vietnam is experiencing a difficult time. The government has realized that there is a huge demand from the foreigners and oversea Vietnamese investing in Vietnam in owning real estate in Vietnam however the legal regulations on such matter have not yet encouraged them to make the investment. The Vietnam M…
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New Vietnam Real Estate draft law giving more rights to foreigners in Vietnam | ANT Lawyers
ANT Lawyers’ real estate legal practice gives client legal advice on real estate legal matters in Vietnam. We are keeping track with changes in the Vietnam legal environment to ensure giving our client the best advice. Real estate market in Vietnam is experiencing a difficult time. The government has realized that there is a huge demand from the foreigners and oversea Vietnamese investing in Vietnam in owning real estate in Vietnam however the legal regulations on such matter have not yet encouraged them to make the investment. The Vietnam M…
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What Are Rights and Obligations of Foreigners Owning Properties in Vietnam? | ANT Lawyers
According to the current Vietnamese law, the ownership of houses in Vietnam by foreigners has changed significantly towards more openness. However, home ownership of foreigners and Vietnamese citizens are still different. Foreign house ownership is allowed in commercial housing construction projects only (i.e., only in newly formed residential areas), not an area of national defense and security purpose. In case of house donation or inheritance of house not subject to this regulation, the foreigner only receives the value of that house. The fo…
Conditions for Foreigners When Buying Houses in Vietnam | ANT Lawyers
With open-door policies and a stable socio-economic situation, Vietnam is one of the countries with great attraction to foreign investors. There are many foreign individuals and organizations come to Vietnam to live and work and a number of foreigners or foreign organizations wish to buy houses or apartments. Many real estate developers also wish to expand the customers base through selling houses and apartments to foreigners in Vietnam. However, according to current law, foreigners or foreign organizations can buy houses and apartment in Vi…
What Are New in Real Estate Trading Business From 2021?
The Law on Investment 2020 takes effect from January 1, 2021 with many new highlights, including the amendment of conditions for real estate business in the Law on Real Estate Trading 2014. Specifically, amending regulations on real estate business conditions in the Law on Real Estate Trading 2014 as follows: “Any organizations and individuals trading in real estate must set up enterprises or cooperatives (hereinafter referred to as an enterprise), except for the case specified in Clause 2 of this Article. ” Clause 1, Article 10 of the 2014 La…
Draft Decree on E-transactions in the Government Management of Land | ANT Lawyers
In the era of technology 4.0, the application of science and technology in all activities of social life in general is increasingly focused. Vietnam government has introduced a number of policies on the application of electronic technology in administrative procedures, particularly the Draft Decree on Electronic Transactions in the management of land. Electronic transactions in the government management of land are the implementation of administrative procedures in the field of land; share and provide land information and data; share and provi…
What Are Real Estate Transaction Conditions for Buyer and Seller in Vietnam? | ANT Lawyers
The real estate market is always an attractive market with a large source of potential speculative profits for investors. Because real estate transaction is always high in value, and buying a property for most people is always a life time important decision, and many times with the financial support from the bank, therefore in developed country, real estate lawyers are always involved in all steps of the transaction to ensure the legitimate transfer of the property. In Vietnam, in reality, many real estate transitions are conducted by the b…
What Are New Conditions on Real Estate Purchase and Sale in 2022? | ANT Lawyers
Real estate business activities have a great influence on socio-economic development. Accordingly, in order to ensure the legal framework for the current real estate business activities, the Government has issued Decree 02/2022/ND-CP detailing the implementation of a number of articles of the Law on Real Estate Business (“Decree 02/2022/ND-CP”) in order to promptly amend and supplement inadequate regulations to be consistent with reality. In which, conditions for the transfer of contracts of purchase and sale, lease-purchase of houses and con…
Foreigner Can Buy House in Vietnam | ANT Lawyers
As investment in properties oversea is a big decision, it is suggested the investor consult with real estate lawyer in Vietnam to help checking the eligibility of the developer, the construction permits and other legal documents granted for the project. It is important to review the transaction documents in regard to deposit agreement, sales agreements and other agreements the developer might propose to ensure the protection of rights, to minimize risks and ensure compliance. On November 25th, 2014, the National Assembly of the Socialist Rep…
Draft Decree on E-transactions in the Government Management of Land | ANT Lawyers
In the era of technology 4.0, the application of science and technology in all activities of social life in general is increasingly focused. Vietnam government has introduced a number of policies on the application of electronic technology in administrative procedures, particularly the Draft Decree on Electronic Transactions in the management of land. Electronic transactions in the government management of land are the implementation of administrative procedures in the field of land; share and provide land information and data; share and provi…
Real Estate Legal Matters in Vietnam | ANT Lawyers
In general, it is not permitted to own land in Vietnam as a private entity because the land belongs to the people and the State of Vietnam thereby operates as the administrator. However an ownership of a right to use land is permitted according to Vietnamese Law. This so-called Land Use Right (“LUR”) Certificate provides the means to lease land from the State for Vietnamese and foreign people. This LUR Certificate entitles the land users to protect their legitimate rights and interests. The sale of a house or real estate is in fact the …
Why Client Should Retain Real Estate Lawyers in Vietnam? | ANT Lawyers
Benefits of retaining a Real Estate Lawyer in Vietnam Due to changes in law attracting foreigners to come to live, and invest in Vietnam, foreigners have growing interest in investment and acquiring real estate. However, as real estate is valuable assets, the law on real estate ownership and real estate transactions are complicated, especially for foreigners. Under the land ownership regime in Vietnam, land belongs to the entire people with the State acting as the owner’s representative and uniformly managing land. Hence, in Vietnam, t…
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