Rights of overseas Vietnamese, foreign invested enterprises allocated land

Rights of overseas Vietnamese, foreign invested enterprises allocated land

DMS Attorneys in Danang, Vietnam advise about what are the rights and obligations of overseas Vietnamese (Viet Kieu), foreign invested companies who are allocated land with land use levies to implement investment projects in Vietnam ? Can an FDI company mortgage assets affixed to land ? Can an FDI enterprise transfer its land use rights ? and Can an FDI company sublease a piece of land that it has leased from the State ?

Overseas Vietnamese investing in Vietnam who are allocated land with land use levy by the Vietnamese State have the following rights and obligations:

The general rights and obligations prescribed in Articles 166 and 170 of this Law;

The rights and obligations prescribed in Clause 2, Article 174 of this Law.

Overseas Vietnamese or foreign invested enterprises that are leased land by the State with a lump sum rental payment for the whole lease term or foreign invested enterprises that are allocated land by the State in return for payment of land use levies to implement projects have the following rights and obligations:

The general rights and obligations prescribed in Articles 166 and 170 of this Law;

To transfer land use rights and assets affixed to land under their ownership during the land use term;

To lease, sublease land use rights and assets affixed to land under their ownership during the land use term;

To mortgage land use rights and assets affixed to land under their ownership at credit institution which are licensed to operate in Vietnam during the land use term;

To contribute land use rights and assets affixed to land under their ownership as capital for cooperation in production and business during the land use term.

Foreign-invested enterprises using land formed through the purchase of shares of Vietnamese enterprises have the following rights and obligations:

In case the foreign-invested enterprise formed through the purchase of shares of Vietnamese enterprises is a wholly foreign-invested enterprise or a foreign-invested enterprise in which the foreign investor is the dominant shareholder in accordance with the law on enterprises, that foreign-invested enterprise has the rights and obligations prescribed in Clauses 2 and 3 of this Article corresponding to the form of payment of land use levy or land rental;

In case the foreign-invested enterprise formed through the purchase of shares of Vietnamese enterprises is an enterprise in which the Vietnamese party is the dominant shareholder in accordance with the law on enterprises, that foreign-invested enterprise has the rights and obligations as economic organizations as prescribed in Articles 174 and 175 of this Law.

Overseas Vietnamese or foreign invested enterprises that use land to implement investment projects in Vietnam and are allocated land or leased land with a lump sum rental payment for the entire lease period by the State, but are entitled to exemption from or reduction of land use levy or land rental shall have the rights and obligations prescribed in Clause 4 Article 174 of this Law (Article 183 Law on Land No. 45/2013/QH13 dated 29 November 2013)./.

Related topics:

Conditions for transferring all or a portion of a real estate project in Vietnam

Forms of land use applicable to a foreign invested company in Vietnam

Contact us:

Phone: 0914 165 703 

Email: dmslawfirm@gmail.com

DMS Law firm in Vietnam
Director
(Signed)
Lawyer Do Minh Son


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