» » "Review" unlimited house ownership for Overseas Vietnamese

More than 87% of the National Assembly through a vote for article 126 of house law and article 121 of land law amendments about the open house purchase, home ownership for overseas Vietnamese, according to which from September 1, 70% Vietnamese Overseas citizenship will be buyed house unrestricted.

With the modification of this, besides Vietnamese overseas citizenship, some other Vietnamese who are entitled to home ownership as full citizens in the country.

It is the direct investment in Vietnam by the investment law; people have contributed to the country, scientists, and writers, who have special skills that the agency's organization have needs and are working in Vietnam; who have a wife or husband is Vietnamese citizens living in country and ensuring conditions for authorities of Vietnam allow to settle in Vietnam three months onwards.

Above items will be purchased and owned houses associated with land right-used does not limit the amount, with full rights like as sale, give as gifts, for inheritance, change housing for organizations and individuals in the country; mortgage house in credit institutions are allowed to work in Vietnam; the compensation when the Goverment retrieve land by Vietnamese law; the lease, grant power the ownership of the house during do not use...

Thus, about 70% in total over 3 million Vietnamese living abroad are still keeping the original nationality and many overseas national come back to investment, contributing to build the country are encouraged, to ensure that the own home as citizens in the country.

Vietnam origin who do not belong to the object above, the Vietnam agency's issue free visas and are allowed to reside in Vietnam for three months or more have the right to own a house or an individual apartment in Vietnam for themselves and family members living in Vietnam.

With the "ease" maximum right to the disturbance, anxiety of many delegates through the previous discussion about the ability benefit of policy to speculate, resold to has profit, cause the changes in land market, National assembly expected that can adjust with the regulations on tax policy (tax individuals law, VAT law and upcoming law will have a home tax , land tax) and real estate exchange.

National assembly also "calm down" delegates as modified has designed several "courses" as define by regulations purchasing houses for themselves and family members living in Vietnam.

This purpose to the house ownership has clearly aware of the purpose and use to the Government should have specified, the binding conditions to avoid using the incorrect purpose.

National Assembly also has received, edit some of the details in the draft law by comments of the representatives. Regulations on the subject "scientist, the culture, people with special skills that Vietnam needs" has been redesigned, more closely to "the agencies, organizations of Vietnam have requirements.

Agencies and organizations include: Party, Goverment, and political - social organizations, economic organizations ... of Vietnam and is allowed by Goverment.

Amendments law will be effective from 1/9/2009. The draft decree guiding the implementation, Government was also prepared and continue to improve the opinion of the comment delegates.

Vnre - Vietnam Real Estate

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