Decree to amend and supplement some regulations on Land Law
On 6 January 2017, the Goverment issues Decree No. 01/2017/NĐ-CP on amending and supplementing 03 Decrees on guidance on Land Law, including: Decree 43/2014/NĐ-CP, Decree 44/2014/NĐ-CP and Decree 47/2014/NĐ-CP. Specifially, some articles related to foreign invested enterprises are below:
- Economic organisations, Vietnamese settling in foreign countries, the foregin invested enterprises, business households, and individuals who lease national land with annual rental payment; lease and sub-lease land in industry zones, export processing zones and craft villages and also pay annually and own Leasing Certificates, are all allowed to lease assets attached to land if all related legal conditions on real estate business are followed.
- Leasee must ensure the use of assets on land in the way as confirmed in Decision on land leasing issued by related national authorities, or in land leasing contract, land subleasing contract.
In addition, The Decree has supplemented regulation in which the foreign invested enterprises having land use right as a result of receiving investment capital transfer have the same rights and duties to the cases the enterprises lease land with one off rental payment for the entire lease period, or are delivered land with payment of land use to implement the projects regulated in Term 3 - Article 183 of Land Law.
This Decree takes effect from 03 March 2017.