Rules for selling, mortgaging, leasing, contributing property on airport/airfield land as capital in Vietnam

According to Article 27 of the Decree No. 102/2015/NĐ-CP of the Vietnam’s Government, rules for selling, mortgaging, leasing, contributing property on airport/airfield land as capital are specified as follows:

1. The sale, mortgage, lease, contribution of property on land mentioned in Article 25 of this Decree may only be done within the right to property and right to do business of the seller/mortgagor/lessor/contributor, and must not change the functions of the construction works according to the approved airport/airfield planning or land use purpose, not interrupt or affect the operation of the airport/airfield; not affect the right to use and do business of other enterprises as prescribed by law.

2. The buyer/lessee/recipient of the property must be able to maintain the operation of the construction work, provide services consistently with functions of the construction work, satisfy requirements in terms of aviation security and safety, environmental safety, conform with the plan for upgrade, extension of the airport/airfield as prescribed by law; comply with regulations of law on aviation service pricing. Do not take advantage of the monopoly to exercise unhealthy competition.

3. The seller/lessor/contributor must maintain the provision of aviation services until the buyer/lessee/recipient of the property is capable of operating the construction work and granted the license to provide corresponding aviation services as prescribed by law.

4. The seller/lessor/contributor shall send the concluded contract to the Civil Aviation Authority of Vietnam within 03 working days from the conclusion date.

5. The sale, lease out, contribution of property on airport/airfield land shall comply with this Decree and relevant regulations of law. In case the buyer/lessee/recipient of the property fails to satisfy the requirements, the Ministry of Public Security shall consider dismissing such entity from management and operation of the construction work in order to rearrange the management and operation of the construction work as prescribed. The decision of the Ministry of Transport is the basis for the parties to conclude and finalize the contract as prescribed by law.

View more details at the Decree No. 102/2015/NĐ-CP of the Vietnam’s Government, effective from December 12, 2015.

Ty Na

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