Land use rights of Vietnamese people residing abroad

Land use rights of Vietnamese people residing abroad have had many important changes in the Land Law 2024. The new law expands land use rights, allowing direct participation in real estate transactions and implementing investment projects in Vietnam. These adjustments create favorable conditions for Vietnamese people residing abroad to invest, do business and own real estate in Vietnam. This article will analyze in detail the new regulations on land use rights of this subject.

What are Vietnamese people residing abroad according to the 2024 Land Law?

The Land Law 2024 has expanded the definition and more clearly classified Vietnamese people residing abroad. Specifically, Clause 3 and Clause 6, Article 4 of this Law stipulate two groups of subjects:

• Vietnamese people residing abroad are Vietnamese citizens: This group is considered domestic individuals, with the same rights and obligations to use land as Vietnamese citizens living in Vietnam.
• People of Vietnamese origin residing abroad: This is a separate group, with some specific land use rights.

This classification is consistent with the provisions of Clause 3 and Clause 4, Article 3 of the Law on Nationality 2008. Compared to the Land Law 2013, the new definition has expanded the scope of land users, creating a clear legal basis. for the exercise of land use rights of Vietnamese residing abroad.

This change demonstrates the State’s consistent policy in encouraging Vietnamese people residing abroad to invest in Vietnam, while creating fairness between Vietnamese citizens at home and abroad.

New changes in land use rights of Vietnamese people residing abroad according to the Land Law 2024

Directly participate in real estate transactions

The Land Law 2024 has expanded the right to participate in real estate transactions for Vietnamese residing abroad. Specifically:

• For Vietnamese people residing abroad who are Vietnamese citizens: They enjoy the same rights and obligations to use land as domestic individuals. This includes the right to convert, transfer, lease, sublease, inherit, donate land use rights, mortgage, and contribute capital with land use rights.
• For people of Vietnamese origin residing abroad: They have expanded land use rights, including the right to transfer, lease, and sublease land use rights and assets attached to land; donating land use rights to the State or residential community; mortgage or contribute capital with land use rights.

These changes help Vietnamese people residing abroad to directly participate in the Vietnamese real estate market without having to go through domestic relatives. This not only facilitates them but also helps minimize disputes that may arise from having someone else take the name.

Have the right to use land to carry out investment projects

The Land Law 2024 has expanded land use rights for people of Vietnamese origin residing abroad in implementing investment projects. Specifically:

• They are allocated land by the State with land use fees or leased land to carry out investment projects.
• Have the right to transfer, lease, or sublease land use rights and assets attached to land during the land use term.
• To mortgage land use rights and assets attached to land at credit institutions licensed to operate in Vietnam.
• Have the right to contribute capital with land use rights and assets attached to land for business cooperation.

These regulations create favorable conditions for people of Vietnamese origin residing abroad to invest in development projects in Vietnam, contributing to promoting the country’s economic development.

Own a house, associated with residential land use rights

The Land Law 2024 has expanded housing ownership associated with residential land use rights for Vietnamese residing abroad. Specifically:

• People of Vietnamese origin residing abroad who are allowed to enter Vietnam are allowed to own houses associated with residential land use rights in Vietnam.
• They have the right to use residential land by receiving transfer of residential land use rights in housing development projects.
• To transfer residential land use rights when selling, donating, inheriting, or exchanging housing for subjects who own housing in Vietnam.
• Have the right to mortgage a house attached to the right to use residential land at credit institutions licensed to operate in Vietnam.

These regulations create favorable conditions for Vietnamese people residing abroad to own houses in their homeland, while contributing to the development of the real estate market.

Can use land in industrial parks and high-tech parks

The Land Law 2024 also clearly stipulates land use rights in industrial parks, industrial clusters, and high-tech zones for people of Vietnamese origin residing abroad. Specifically:

• They received transfer of land use rights in these areas.
• Have the right to transfer, lease, and sublease land use rights and assets attached to land.
• To mortgage land use rights and assets attached to land at credit institutions licensed to operate in Vietnam.
• Have the right to contribute capital with land use rights and assets attached to land to prescribed entities.

These regulations create conditions for people of Vietnamese origin residing abroad to participate in production and business activities in industrial parks, industrial clusters and high-tech parks in Vietnam.

The importance of expanding land use rights of Vietnamese people residing abroad

The expansion of land use rights of Vietnamese people residing abroad in the Land Law 2024 is important in many aspects:

First, attract investment and resources from the Vietnamese community abroad. With the right to directly participate in real estate transactions and implement investment projects, Vietnamese people residing abroad will have more opportunities to invest in Vietnam. This not only brings capital but also brings in experience and advanced technology from abroad.

Second, promote the development of the real estate market. Expanding the number of people with housing ownership and land use rights will create a new source of demand for the real estate market, contributing to stimulating the development of this industry.

Third, strengthen the relationship between the Vietnamese community abroad and the homeland. Housing ownership and land use rights of Vietnamese residing abroad create conditions for Vietnamese residing abroad to maintain closer connections with Vietnam, contributing to the socio-economic development of the country.

Fourth, ensure fairness and equality. The expansion of land use rights for Vietnamese people residing abroad demonstrates the State’s fair treatment policy towards Vietnamese citizens, regardless of where they live.

Fifth, create a clear legal corridor. The Land Law 2024 has more specific and detailed regulations on land use rights of Vietnamese residing abroad, helping to minimize disputes and create transparency in land-related transactions.

Consulting services on land use rights of Vietnamese people residing abroad

With important changes in the Land Law 2024 related to land use rights of Vietnamese people residing abroad, the need for legal advice in this field is increasing.

Consulting services at Long Phan include:

• Consulting on land use rights and obligations according to the Land Law 2024;
• Guidance on procedures for transferring land use rights and buying and selling housing;
• Consulting on investment procedures for real estate projects in Vietnam;
• Support to resolve disputes related to land use rights of Vietnamese residing abroad;
• Consulting on taxes and financial obligations related to real estate transactions.

These consulting services help Vietnamese people residing abroad understand their rights and obligations, thereby being able to make the right decisions in investing and using land in Vietnam.

Land use rights of Vietnamese people residing abroad have been significantly expanded in the Land Law 2024, creating favorable conditions for them to participate in the real estate market and invest in Vietnam. Call hotline 0906735386 now to receive dedicated support from Long Phan on issues related to land use rights and real estate in Vietnam.