The Land Law 2024 has just been announced by order of the President of Vietnam, effective from January 1, 2025. One of the five significant changes compared to the 2013 Land Law is the expansion of land use rights for Vietnamese people residing abroad. Accordingly, overseas Vietnamese have full rights and obligations related to land, like Vietnamese citizens in the country.
Articles 41, 43, and 44 of the Land Law 2024 stipulate that Vietnamese people residing abroad with Vietnamese nationality are Vietnamese citizens and have the same rights and obligations to use the land as domestic individuals, collectively known as individuals.
Rights and obligations of citizens regarding land; general rights of land users; individual rights and obligations to use the land; the right to convert, transfer, lease, sublease, inherit, donate land use rights, mortgage, and contribute capital with land use rights; receive land use rights; The rights and obligations of individuals using land, including domestic individuals and Vietnamese residing abroad who are Vietnamese citizens, are equal and equal and can directly participate in real estate transactions.
Rights to use land for investment
According to the provisions of the Land Law 2024, people of Vietnamese origin residing abroad who are allocated land by the State with land use fees are entitled to transfer their land use rights and assets attached to the land; leasing land use rights and assets owned by them attached to land; sublease land use rights and assets owned by them attached to land in cases where the State leases land with a one-time rental fee for the entire lease period; donating land use rights to the State; donating land use rights to residential communities to build works that serve the common interests of the community or expand roads according to planning; donating land use rights to build gratitude houses, charity houses, and great solidarity houses attached to land according to the provisions of law; mortgage land use rights and assets owned by them attached to land at credit institutions licensed to operate in Vietnam, at other economic organizations or individuals according to the provisions of law; Contribute capital with land use rights and assets attached to land to domestic organizations, individuals, people of Vietnamese origin residing abroad, and economic organizations with foreign investment capital according to regulations of the law.
People of Vietnamese origin residing abroad who are leased land by the State with annual land rent are allowed to mortgage their assets attached to the land at credit institutions licensed to operate in Vietnam and contribute capital with their assets linked to the land. The recipient contributes capital with assets leased land by the State for the specified purpose for the remaining term; sell and lease assets they own attached to land and lease rights in land lease contracts.
In the case of selling property owned by one and having the right to rent in a land lease contract, the conditions specified in Article 46 of this Law must be met.
The buyer of assets attached to land and lease rights in a land lease contract may continue to lease land according to the determined purpose, and remaining land use term and has the rights and obligations of a land user according to regulations of this Law and relevant laws; subleasing land use rights in the form of annual land rental payments for land that has completed infrastructure construction in cases where investment in building and business of infrastructure is allowed for industrial park land, industrial clusters, high-tech parks; The sublessee of land use rights must use the land for the proper purpose and fulfill financial obligations according to regulations.
People of Vietnamese origin residing abroad are leased land by the State with a one-time rental fee for the entire lease period; Foreign-invested economic organizations to the State allocate land with collection of land use fees to implement projects have the right to: Transfer land use rights and assets owned by them attached to land within a period using land; lease or sublease land use rights and assets owned by them attached to land during the land use term; mortgage land use rights and assets owned by them attached to land at credit institutions licensed to operate in Vietnam; Contribute capital with land use rights and assets owned by you attached to land.
Rights to own a house, associated with conditional residential land use
People of Vietnamese origin residing abroad who are allowed to enter Vietnam are allowed to own houses associated with residential land use rights in Vietnam; have residential land use rights due to receiving transfer of residential land use rights in housing development projects; to transfer residential land use rights when selling, donating, inheriting, or exchanging housing for organizations, individuals, and people of Vietnamese origin residing abroad who are eligible to own housing in Vietnam; Donate housing associated with residential land use rights to the State, residential community, donate to make houses of gratitude, houses of love, houses of great solidarity. In case of donation or inheritance to a subject who is not allowed to own a house in Vietnam, this subject will only enjoy the house's value attached to residential land use rights and will not be granted a Certificate of Land Use Rights, ownership of assets attached to land;
The transfer, lease, donation, inheritance, and capital contribution of residential land use rights according to the provisions of this Law; People of Vietnamese origin residing abroad have the right to mortgage houses attached to residential land use rights at credit institutions licensed to operate in Vietnam...
Use of land in industrial parks, industrial clusters, and high-tech parks
People of Vietnamese origin residing abroad who receive transfer of land use rights in industrial parks, industrial clusters, and high-tech zones have the following rights and obligations:
Transfer of land use rights and assets attached to the land; leasing land use rights and assets attached to land under their ownership in cases where land is allocated by the State with collection of land use fees; sublease land use rights and assets owned by them attached to land in cases where the State leases land with a one-time rental fee for the entire lease period; donating land use rights to the State; donating land use rights to residential communities to build works that serve the common interests of the community or expand roads according to planning; donating land use rights to build gratitude houses, charity houses, and great solidarity houses attached to land according to the provisions of law; mortgage land use rights and assets owned by them attached to land at credit institutions licensed to operate in Vietnam, at other economic organizations or individuals according to the provisions of law; Contribute capital with land use rights and assets attached to land to domestic organizations, individuals, people of Vietnamese origin residing abroad, and economic organizations with foreign investment capital according to regulations of the law…
Standing member of the National Assembly's Economic Committee, Phan Duc Hieu, said that the expansion of land use rights for Vietnamese people residing abroad is entirely consistent with the policies of the Party and State and by the Constitution of Vietnam.
Experts in the real estate field assess that this expansion will avoid the inadequacy that previously occurred when using domestic land; Vietnamese people residing abroad had to ask domestic relatives to carry out the transfer in their name as before. This has caused many disputes due to asking someone to transfer and manage land use rights.
| Previously, the Law on Real Estate Business (amended) was passed by the National Assembly in the 5th session with many new contents, which expanded to welcome overseas Vietnamese who wish to invest in real estate in Vietnam. The Housing Law (amended) also stipulates that according to instructions, Vietnamese residing abroad who can enter the country can own housing with land use rights according to land law. |