10 entities eligible for incentive policies on social housing in Vietnam
Who are eligible for incentive policies on social housing in Vietnam? - Ms. Tam (Quang Ninh)
According to the law in Vietnam, what is a social housing?
Pursuant to Clause 7 Article 3 of the Law on Housing in 2014 stipulating as follows:
Interpretation of terms
For the purposes of this Law, these terms below shall be construed as follows:
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7. Social house means any house provided for entities benefiting from the policies on housing support carried out by the State as prescribed in this Law.
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As regulations above, social house means any house provided for entities benefiting from the policies on housing support carried out by the State as prescribed in this Law.
Pursuant to Article 51 of the Law on Housing in 2014 stipulating requirements for eligibility for incentive policies on social housing as follows:
- The entities eligible for the policies as prescribed in Clause 1 Article 50 of the Law on Housing in 2014 shall satisfy the requirements pertaining to housing, residence, and income as follow:
+ They have not had any house under their homeownership, have not concluded any agreements on social housing purchase, lease, or lease purchase, have not benefited from any policy on housing or residential land support in any shape or form at the places where they live, study, or have houses under their homeownership, but the floor space per capita in the household is lower than the minimum space standard regulated by the Government in every period and every area;
+ They are required to register permanent residence in the province where the social housing is located; if not, they are required to register temporary residence in that province for at least one year, except for cases prescribed in Clause 9 Article 49 of the Law on Housing in 2014;
+ With respect to entities prescribed in Clause 4, 5, 6 and 7 Article 49 of the Law on Housing in 2014, they are required to be not subject to regular income tax as prescribed in law on personal income tax; with respect to households living in poverty and near poverty, they must be subject to the households living in poverty and near poverty as prescribed in regulations of the Prime Minister. With respect to entities prescribed in Clause 1, 8, 9 and 10 Article 49 of the Law on Housing in 2014, they are not required to satisfy requirements pertaining to income as prescribed in this Point.
- The entities eligible for the policies as prescribed in Clause 2 and Clause 3 Article 50 of the Law on Housing in 2014 must conform to approval for target programs for housing granted by the competent agency.
- Any entity eligible for the policies as prescribed in Clause 4 Article 50 of the Law on Housing in 2014 shall satisfy the requirements pertaining to housing, residence, and income as follows:
+ They have residential land without housing, or they have housing but it is damaged or dilapidated;
+ They have registered permanent residence in the place where their residential land or housing required construction or renovation is located.
10 entities eligible for incentive policies on social housing in Vietnam - Source: Internet
10 entities eligible for incentive policies on social housing in Vietnam
The entities eligible for incentive policies on social housing in Vietnam are prescribed in Article 49 of the Law on Housing in 2014. If the entities below satisfy requirements prescribed in Article 51 of the Law on Housing in 2014, they shall be eligible for incentive policies on social housing:
- People with meritorious services to the Resolution prescribed in law on preferential treatment for people with meritorious services to the Resolution;
- Households living in poverty or near poverty in rural areas;
- Households that are often affected by natural disasters or climate changes in rural areas;
- Individuals living in low income, poverty or near poverty in the urban areas;
- Employees working in enterprises inside or outside the industrial zones;
- Commissioned officers, professional and technical non-commissioned officers, standing army, and workers in the agencies of People’s Police and People’s Army;
- Officials and civil servants prescribed in law on officials and civil servants;
- Entities who have returned official residence as prescribed Clause 5 Article 81 of this Law;
- Students of institutes, universities, colleges, vocational training institutions; students of the public ethnic boarding schools using social housing during their duration of study;
- Households or individuals subject to land withdrawal and land clearance as prescribed without any compensation in form of housing or residential land paid by the State.
What is the level of interest rate supported when buying social housing in Vietnam?
Pursuant to Clause 5 Article 16 of the Decree 100/2015/NĐ-CP (amended by Clause 10 Article 1 of the Decree 49/2021/NĐ-CP) stipulating the level of interest rate supported when buying social housing in Vietnam as follows:
- The concessional rates of Vietnam Bank for Social Policies are decided by the Prime Minister at the request of the Board of Directors at that time;
- The concessional rates of credit institutions are decided by the Prime Minister at the request of the State bank of Vietnam at that time.
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