How to determine developers of housing investment and construction projects for Vietnam people’s armed forces from January 1, 2025?
- How to determine developers of housing investment and construction projects for Vietnam people’s armed forces from January 1, 2025?
- What are the forms of housing development for Vietnam people’s armed forces under the Law on Housing 2023?
- What is the eligibility of parties to housing transactions in Vietnam in 2024?
How to determine developers of housing investment and construction projects for Vietnam people’s armed forces from January 1, 2025?
Pursuant to Article 106 of the Law on Housing 2023, there are instructions on how to determine developers of housing investment and construction projects for people’s armed forces.
Thus, determining the developers of housing investment and construction projects for people’s armed forces will be based on the funding sources, specifically:
Case 1
Construction using the following funding sources:
- Public investment in accordance with public investment laws;
- Funding from government bonds, bonds, ODA, concessional loans of sponsors, investment development credit capital of the Government; capital mobilized from land development fund, other non-budget Government financial fund as per the law
In respect of housing investment and construction projects for people’s armed forces that use these funding sources, developers of the projects shall be determined in accordance with public investment and construction laws.
Case 2
Construction that do not use funding sources under Case 1:
In respect of housing investment and construction projects for people’s armed forces that do not use funding sources under Case 1, provincial People's Committees shall choose developers of the projects as follows.
- If only 1 investor is interested in accordance with bidding laws, competent authorities shall approve the investor as developer of social housing investment and construction projects as soon as the investor satisfies requirements and criteria stipulated by the Government;
- If at least 2 investors are interested, selection of developers of social housing investment and construction projects shall be done via bidding in accordance with bidding laws;
- Investors having approved investment guidelines and accepted as developers of social housing investment and construction projects when the investors obtain land use right via agreement on acceptance of land use right in regard to type of land on which social housing investment and construction projects are allowed or are having land use right in regard to type of land on which social housing investment and construction projects are allowed according to Land Law.
How to determine developers of housing investment and construction projects for Vietnam people’s armed forces from January 1, 2025? (Image from the Internet)
What are the forms of housing development for Vietnam people’s armed forces under the Law on Housing 2023?
Pursuant to Article 103 of the Law on Housing 2023, there are instructions for 03 forms of housing development for people’s armed forces as follows:
- The Government shall invest in housing for people’s armed forces using public investment and enable officers, non-commissioned servicemen, servicemen in people’s armed forces, people security personnel, active national defense public employees, employees; individuals engaging in cryptography operations and other work in cryptography organizations and receiving salaries from state budget to rent, lease purchase.
- The Government shall invest in housing for people’s armed forces using Funding from government bonds, bonds, ODA, concessional loans of sponsors, investment development credit capital of the Government; capital mobilized from land development fund, other non-budget Government financial fund as per the law hereof to enable officers, non-commissioned servicemen, servicemen in people’s armed forces, people security personnel, active national defense public employees, employees; individuals engaging in cryptography operations and other work in cryptography organizations and receiving salaries from state budget to rent, lease purchase.
- Entities trading real estates shall fund construction of housing for people’s armed forces to enable officers, non-commissioned servicemen, servicemen in people’s armed forces, people security personnel, active national defense public employees, employees; individuals engaging in cryptography operations and other work in cryptography organizations and receiving salaries from state budget to purchase, lease purchase, rent.
What is the eligibility of parties to housing transactions in Vietnam in 2024?
Pursuant to the provisions of Article 161 of the Law on Housing 2023, the eligibility of parties to housing transactions is as follows:
- Sellers, sellers/landlords, landlords, parties gifting, swapping, bequeathing, pledging, contributing capital, lending, lodging, authorizing housing management shall meet requirements regarding subjects of transaction in accordance with civil laws.
- Individual buyers, buyers/tenants, parties receiving gifted, swapped, bequeathed, mortgaged, contributed capital, borrowing, boarding, being authorized to manage houses shall meet requirements regarding subjects of transactions in accordance with civil laws and regulations below:
+ In case of domestic individuals, residence registration in locales where housing transactions take place is not required;
+ In case of foreign individuals or overseas Vietnamese, eligibility for house ownership in Vietnam according to this Law must be met whereas residence registration in locales where housing transactions take place is not required. Overseas Vietnamese shall also conform to Land Law.
- Organizations buyers, buyers/tenants, tenants, parties receiving gifted, swapped, bequeathed, mortgaged, contributed capital, borrowing, boarding, authorized for housing management shall meet requirements regarding subjects of transactions in accordance with civil laws and are not dependent on location of business registration and establishment; foreign organizations must also be eligible for house ownership in Vietnam according to this Law; organizations authorized for housing management must also provide real estates trading services and are currently operating in Vietnam in accordance with real estates trading laws.
The Law on Housing 2023 comes into force from January 1, 2025.
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