Thứ Năm, 30 tháng 12, 2021
Thứ Tư, 29 tháng 12, 2021
Plan to Simplify Regulations on Telecom, Gaming, Internet Service | ANT Lawyers
Thứ Ba, 28 tháng 12, 2021
Draft Decree on E-transactions in the Government Management of Land | ANT Lawyers
Chủ Nhật, 26 tháng 12, 2021
What Are Penalty for Violations in the Field of Construction in Hanoi? | ANT Lawyers
Thứ Năm, 23 tháng 12, 2021
Can Foreigner Authorize Other Person to Perform Transfer of Properties in Vietnam? | ANT Lawyers
In the
complicated situation of the Covid-19 epidemic, the Government continued to
implement policies to restrict entry to Vietnam, thus many transactions were
canceled or delayed. That has caused many obstacles for foreign individuals and
organizations wishing to perform transactions in Vietnam. We refer to the
transfer of home ownership for foreign individuals who cannot enter Vietnam to
participate in signing transfer contracts and other related transactions i.e.
sell or buy an apartment or a house located in Vietnam.
Pursuant to the
law on housing, foreign organizations and individuals have the right to own
house in Vietnam, before the time limit of the homeownership, the homeowner is
entitled to gift or sell their house(s) to entities eligible for the
homeownership in Vietnam; if not, their house(s) shall be under ownership of
the State. Regarding the house ownership term, if a foreign organization or
individual sells or gifted to a domestic organization, household, individual,
or a Vietnamese citizen residing overseas, the buyer or recipient will acquire
a long-term ownership of the house. If the house is sold to a foreign
organization or individual eligible to own housing in Vietnam, the buyer or
recipient may own the house for the remaining period. When this period expires,
if the owner wishes to have this period extended, the State shall consider
granting an extension. The seller or giver must pay tax and other amounts to
state budget as prescribed by Vietnam’s law.
In accordance with
the law on housing transactions, the seller or transferor of the commercial
house sale and purchase contract must meet the following conditions:
- He/she is
the homeowner, or the person permitted and authorized by the homeowner to
enter into housing as prescribed in this Law and law on civil; if the
agreement of commercial housing is transferred, he must be the buyer for
housing of the investor or the transferee of the agreement on housing
sale;
- If the
entity is a person, he must have full civil capacity to enter into
transactions in housing as prescribed in law on civil; if the entity is an
organization, it must have legal personality.
Article 195 of the
2015 Civil Code stipulates: “A person who is not an owner of property has the
right to dispose of property only under the authorization of the owner or
according to the provisions of law.”
Clause 2 Article
55 of the Law on Notarization 2014 stipulates: “In case both the authorizing
party and authorized party cannot appear together at the same notarial practice
organization, the authorizing party shall request the notarial practice
organization of the place of residence of the authorizing party to notarize the
authorization contract; the authorized party shall request the notarial
practice organization of the place of residence of the authorized party to
further notarize the original of this authorization contract and complete
procedures for notarization of the authorization contract.”
In order to
perform the house purchase and sale transaction or in other words to buy a apartment or sell a
house in Vietnam, the parties to the house transaction need to agree
to make a sale contract or a document on the transfer of a commercial house
sale and purchase contract. In case a foreign house owner cannot enter directly
to sign a contract, he/she may authorize another individual or organization in
Vietnam to perform instead. However, the authorization document needs to be
notarized at the competent authority. In case a power of attorney is notarized
at a competent agency in a foreign country, it is required to be notarized,
legalized, and authenticated in accordance with regulations of the foreigner
country (apostille) before that
document can be used in Vietnam.
Thứ Tư, 22 tháng 12, 2021
How to Buy Apartment in Vietnam | ANT Lawyers
Real estate, apartment in Vietnam has passed the most difficult period and stabilized. But to satisfy the house demand of 90 million people, it’s need to have many changes in laws. ANT Lawyers will update the proposal of an expert in issue of definite ownership apartment.
As many other
countries such as in England, the term to own an apartment of 999 years, but in
Vietnam, only land has been assigned by the Government in 2 forms: permanent
assignment and definite assignment.
In first method,
permanent land assignment fell into residential land, and almost apartments
were purchased in market with the “permanent” term.
In the second,
lands were assigned within 50 years, the investors continued developing the
projects. Some apartment projects in Ho Chi Minh city and Ha Noi belonged to
this type. After the investors conducted procedures to transfer definite
ownership apartment to permanent ownership apartment. Therefore, actually, the
price of apartment will decrease if the form of definite ownership is applied.
Regulating the definite ownership of 50 -70 years for apartment will take
advantages in reconstruction and improvement in case of degrading, usage
expiry.