The Land Law (amended) recently passed by the 15th National Assembly has expanded the scope of land use for people of Vietnamese origin residing abroad; added a number of benefits for economic organizations with foreign investment capital...
This is considered one of the factors positively affecting the real estate market and the land use rights transfer market; thereby, promoting economic development.
According to Lawyer Ngo Thanh Ba (Nhiep Tin Cong Ly Law Office, Hanoi Bar Association), in recent times, many cases of Vietnamese people living abroad buying land in the country have had to ask others to act as their names in the transaction. This has given rise to many disputes in the process of transferring and managing land use rights. The Land Law (amended) expanding the scope of land users will help to overcome this situation.
Specifically, some provisions of the Land Law (amended) have clearly defined that land users are Vietnamese people residing abroad, including Vietnamese people residing abroad who are Vietnamese citizens and people of Vietnamese origin residing abroad. Along with that are specific and detailed provisions expanding the rights and obligations of land use, land management and use regimes for these two subjects such as: People of Vietnamese origin residing abroad are land users and enjoy relatively full rights like Vietnamese citizens (except for the right to mortgage, which is limited to mortgage at credit institutions licensed to operate in Vietnam); economic organizations with foreign investment capital, people of Vietnamese origin residing abroad are given some additional rights such as: Being allowed to receive transfers and sublease land use rights in industrial parks, high-tech parks, etc.
Lawyer Ngo Thanh Ba added that, unlike the provision "Land users" in Clause 6, Article 5 of the 2013 Land Law: "Land users are allocated land by the State, leased land, have their land use rights recognized, and receive transfers of land use rights according to the provisions of this law...", in Clause 3, Clause 6, Article 4 of the 2024 Land Law (amended) stipulates: "Land users are allocated land by the State, leased land, have their land use rights recognized; are using land stably, and are eligible for a certificate of land use rights, ownership of assets attached to land but have not been granted a certificate of land use rights, a certificate of house ownership rights and residential land use rights by the State...". The expansion of land use rights for overseas Vietnamese who are Vietnamese citizens has created favorable conditions for overseas Vietnamese to have a favorable environment for investment, business, work, etc.
Lawyer Ngo Thanh Ba said that this is an important step forward of the Land Law (amended), creating consistency with the Law on Real Estate Business (amended), the Law on Housing (amended); contributing to increasing opportunities to access, own, and use land resources more effectively; attracting remittances and investment from overseas Vietnamese for real estate business development in particular and boosting the economy in general.
In order to promote investment growth and attract remittances from Vietnamese citizens residing abroad in the coming time, Lawyer Ngo Thanh Ba proposed that the Government should review regulations related to land use rights of Vietnamese people residing abroad in laws and some other regulations such as: Law on Real Estate Business (amended); Law on Housing (amended); procedures for confirming Vietnamese citizens residing abroad... The Government also needs to increase propaganda and dissemination of promulgated laws; especially new points, points that need to be clarified to provide more complete and detailed instructions for people, organizations and related parties to understand and properly implement, thereby limiting violations, negativity and increasing the effectiveness of the implementation of the Land Law (amended). Along with that, the Government needs to continue to promote amendments to laws related to the vital interests of overseas Vietnamese in a more open and favorable direction, in accordance with the provisions of the Constitution and laws of Vietnam.
HQ (according to VNA)