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, the land users will have the land use right
without the private ownership of the land. Land law 2013 does not
allow foreigner to have land use rights in Vietnam. It only allows foreign
invested enterprises to be permitted to use land through the form of land
allocation or lease.
Although foreigners do not have land use rights in Vietnam, they
are allowed to own houses in Vietnam under the Law on Housing. In addition, the
Law on Real Estate Business has certain limitations for foreign investors to
conduct real estate business in Vietnam and must meet the legal requirements.
Foreign investors investing in Vietnam wish to use the land to
conduct business activities, or intend to conduct real estate business in
Vietnam, or simply a foreigner wishing to purchase and own real estate in
Vietnam should be aware of the legal provisions on conditions of
implementation, orders and procedures to of the transactions to minimize
risks. The assistance of the lawyers on real estate in Vietnam shall
be worthwhile.
Real estate lawyers in Vietnam would
have in-depth knowledge of the Land Law, Law on Housing, Law on Real Estate
Business and related regulations. In addition, they would have practical
experience in implementing legal procedures, handling disputes, and supporting
real estate transactions in Vietnam. The real estate lawyers could explain the
restrictions on land use rights of foreign organizations and individuals in
Vietnam and the conditions for conducting business in real estate in
Vietnam. The lawyers at request could assist the foreigners with the
process and procedures to work with state agencies to obtain land use rights
for enterprise and home ownership rights for individual more effectively.
When conducting transactions related to real estate such as
buying, selling, transferring, renting, leasing, real estate lawyers could also
provide assistance in in legal due diligence of the real estate to minimize
legal risk to clients. It is important to evaluate the legal status of the
property, the owner of property, whether property is in dispute, or subject to
additional requirements of government before being sold by the developer and
the people eligible for entering into the transaction. In addition, the lawyers
in Vietnam can advise clients to draft or review the agreements, sales contract
as well as the process to legalize the process to comply with the law in
Vietnam.
We are a law firm in Vietnam with international standard, local expertise and
strong international network. We focus on customers’ needs and provide clients
with a high quality legal advice and services. For advice or services request,
please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.
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