Laws in Vietnam

Sale and purchase of real property is defined as a high-value transaction that poses a number of potential risks, especially to the buyer. This, however, does not mean that the seller is free from risks. Let’s remember the previous case in which a house was sold at the price of VND 58 billion to the seller who then resold it at the price of VND 28 billion and earned the profit of more than VND 10 billion.    Since the buyer is usually exposed to a lot of risks, this article will focus on provide necessary things of a real property sale contract that the buyer needs to know: The real property sale contract is a written document on transaction that is of legal importance to establish the buyer's right of ownership of residential real property, and may vary in terms of its representation of contractual terms and conditions, depending on the type of residential real property. With respect to existing townhouses - The right of ownership has been recognized on the Certif...

HỢP ĐỒNG MUA BÁN NHÀ, CÔNG TRÌNH XÂY DỰNG CÓ SẴN (HOẶC HÌNH THÀNH TRONG TƯƠNG LAI) CONTRACT FOR SALE OF EXISTING BUILDINGS (OFF-THE-PLAN BUILDINGS) Căn cứ Luật Kinh doanh bất động sản ngày 25 tháng 11 năm 2014; Pursuant to the Law on real estate trading dated November 25, 2014 Căn cứ Bộ Luật Dân sự ngày …. tháng ….. năm ……..; Pursuant to the Civil Code dated………… Căn cứ Nghị định số 76/2015/NĐ-CP ngày....tháng….năm 2015 của Chính phủ quy định chi tiết thi hành một số điều của Luật Kinh doanh bất động sản; Pursuant to the Government's Decree No. 76/2015/NĐ-CP dated……, 2015 on guidelines for the Law on real estate trading Các căn cứ pháp lý khác; Pursuant to other legal bases Hai bên chúng tôi gồm  We are : I. BÊN BÁN NHÀ, CÔNG TRÌNH XÂY DỰNG (sau đây gọi tắt là Bên bán): SELLER OF BUILDING (hereinafter referred to as Seller) - Tên doanh nghiệp Enterprise’s name : ....................................................... - Địa chỉ Address : ........

“Foreigner” mentioned in this article are people who don’t have Vietnamese nationality, including  foreign nationals and non-nationals, Vietnamese who have left Vietnam for another country and have given up Vietnamese nationality  or people of Vietnamese origin without holding Vietnamese nationality. Since the article is quite long, I will divide it into sections as follows: Section 1: When you apply for a job Section 2: When you enter or leave Vietnam Section 3: When you register a marriage Section 4: When you give birth Section 5: When you get divorced Section 6: When you die Reading in Vietnamese:  Những điều người nước ngoài nên biết khi sinh sống và làm việc tại Việt Nam

Restriction to foreigners’ acquisition of houses in Vietnam has been loosened in Vietnam since the effective date of the 2014 Law on Housing (on July 01, 2015). Here are some frequently asked questions and answers when a foreigner wishes to buy a house in Vietnam: Who is entitled to own a house in Vietnam? Foreign entities eligible for the house ownership in Vietnam are: - Foreign organizations and individuals who invest in the project-based housing construction in Vietnam. - Foreign-invested enterprises, branches and representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam. - Foreign individuals who are permitted to enter Vietnam. How can a foreigner own a house in Vietnam? A foreigner can own a house when he/she: - Invests in the project-based housing construction in Vietnam. - Buys, leases under a lease purchase agreement, receives as a gift or inherits commercial housing that is either an apa...

4. A house on sale is under mortgage at a bank An owner’s sale of his property that is being mortgaged to a bank results in a variety of legal risks to the buyer. Precaution:   Solicit information from the banks and the Department of Construction that manages the location of the property on sale to verify its mortgage status. For a real estate project or an apartment project, verify the banks' guarantee for such project. 5. Buyer fulfills the deposit and punctual payments for a project that is then suspended Several projects, though suspended, linger on in years. The main investor of such a project has taken buyers' deposits and punctual payments but fails to continue the project because the finances sourced from buyers do not suffice or the main investor violates the law and faces criminal prosecution. Precaution:   Learn about the main investor of a real estate project before making a purchase, and choose those prestigious in the real estate market. 6. Pap...