Conditions for recognizing housing ownership for FDI enterprises

Article overview

Recognizing housing ownership rights for FDI enterprises create conditions for foreign-invested enterprises to expand business activities in Vietnam. According to the Law on Housing 2023, FDI enterprises are allowed to own housing through investment and construction activities of real estate projects. This regulation provides development opportunities for foreign investors and promotes the Vietnamese real estate market.

Requirements for recognition of housing ownership for FDI enterprises
Requirements for recognition of housing ownership for FDI enterprises

How long can FDI enterprises own housing in Vietnam?

Pursuant to the Law on Housing 2023, FDI enterprises are allowed to own housing within the period recorded in the investment certificate. This period is calculated from the date of issuance of the Certificate and includes the extension period. Determining the ownership term must comply with the provisions at Point d, Clause 2, Article 20 of the Law on Housing 2023.

FDI enterprises should note:

  • The ownership term is clearly stated in the Investment Certificate.
  • You can apply to extend the ownership period according to regulations.
  • The deadline must be consistent with the project’s operating term.

Conditions for recognizing housing ownership for FDI enterprises in Vietnam

According to Clause 1, Article 18 of the Law on Housing 2023, to recognize housing ownership rights for FDI enterprises, this enterprise must be the investor of a housing construction investment project according to the provisions of this Law and the Law on Real Estate Business.

Regulations on conditions for recognizing home ownership for FDI enterprises
Regulations on conditions for recognizing home ownership for FDI enterprises

When the home ownership period is about to expire, what should FDI enterprises do?

When the housing ownership term is about to expire, FDI enterprises need to carry out extension procedures to be able to continue owning housing in Vietnam. And the documents and processes are specified in Clause 1 and Clause 2, Article 6 of Decree 95/2024/ND-CP and will be carried out as follows:

Application for extension includes:

  • Application according to Form No. 01 of Appendix I issued with Decree 95/2024/ND-CP;
  • Certified copy or copy enclosed with the original for comparison of Certificate of land use rights, ownership of housing and assets attached to land or certificate of ownership of housing issued under regulations of the Land Law 2024 (hereinafter referred to as the Certificate);
  • A copy of the home owner’s valid passport with a stamp for entry into Vietnam from a competent authority or equivalent legal documents for entry into Vietnam at the time of request for extension (applicable to in case the house owner is a foreign individual);
  • The investment registration certificate has been extended its operating time by a competent Vietnamese agency at the time of extension request (applicable to cases where the housing owner is a foreign organization).

The order and procedures for extending the housing ownership term are carried out as follows:

Step 1: Submit application

  • At least 03 months before the expiration of the house ownership period, if a foreign organization wishes to extend the house ownership period, it must send directly or via postal service or online 01 set of documents according to regulations to Provincial People’s Committee where the house is located to be considered and resolved.

Step 2: Receive and check documents

  • Within a maximum period of 30 days from the date of receipt of the organization’s valid dossier, the Provincial People’s Committee shall be responsible for checking the dossier and, if it meets the correct subjects and conditions as prescribed by the Law on Housing, shall issue a written approval for the extension;
  • The extension period for institutional housing owners is to extend the maximum ownership period equal to the period stated on the Investment Registration Certificate that has been extended for operation by a competent Vietnamese agency; In case the provisions at this point are not met, the Provincial People’s Committee must send a written notice clearly stating the reason to respond to the organization or individual submitting the application;
  • In case of approval of the extension, the Provincial People’s Committee must send this written approval to the organization or individual submitting the application and send it to the competent authority to issue the Certificate;
  • Within a maximum period of 15 days from the date of receiving the written approval to extend the housing ownership period from the Provincial People’s Committee, the housing owner must submit the written approval of the extension from the People’s Committee. Provincial People’s Committee enclosed the application for registration of changes in house ownership term on the issued Certificate in accordance with the provisions of land law.
Documents and process for renewing housing ownership in Vietnam
Documents and process for renewing housing ownership in Vietnam

Consulting on conditions for recognizing housing ownership for FDI enterprises in Vietnam

With the desire to support foreign-invested enterprises (FDI) to optimize their benefits and ensure compliance with Vietnamese laws in the field of housing ownership, Long Phan provides comprehensive consulting services on housing ownership for FDI enterprises. Our team of experts will accompany enterprises in every stage, from investment project establishment to maintaining ownership, ensuring the process is smooth and effective.

Long Phan’s consulting services on recognizing housing ownership for FDI enterprises include:

  • Consulting on real estate project investment procedures and requirements to invest in real estate projects in Vietnam.
  • Support for applying for a certificate of ownership ensures the process of granting a certificate of ownership takes place quickly.
  • Consulting on extending ownership terms to help businesses maintain long-term assets in Vietnam.
  • Assist in drafting relevant documents and contracts, ensuring records are complete, accurate and in accordance with regulations.
  • Representing customers to carry out administrative procedures at authorities to save time and effort for businesses.
  • Consulting on compliance with housing laws according to current regulations, ensuring businesses comply with regulations during the process of owning and using real estate.

Recognizing housing ownership for FDI enterprises is an important step to help businesses ensure their assets and rights in Vietnam. Long Phan is committed to supporting you in carrying out procedures quickly, effectively and in compliance with regulations. If you need detailed advice on housing ownership, please contact Long Phan via hotline 0906735386 to receive dedicated support from our team of experts.