Vietnam: Procedures for determination of the starting price to hold the auction for land use right assessed at under VND 30 billion

According to Decree No. 123/2017/ND-CP of Vietnam’s Government, procedures for determination of the starting price to hold the auction for the cases where area of rented land/water surface of the piece of land or land area is assessed at under VND 30 billion for central-affiliated cities; under VND 10 billion for mountainous provinces; under VND 20 billion for other provinces:

Within 10 days from the day on which the competent state authority gives a decision on auction in accordance with regulations of law on land, the natural resource and environmental authority (applicant) shall transfer an application on determination of the starting price to a corresponding finance authority.

The application for determination of the starting price includes:

- A written request made by the applicant;

- A copy of the decision on the auction approved by the competent state authority;

- A copy of the cadastral document (information about area, location, purposes of land use, form of land lease, land/water surface lease term, etc.).

Within 10 days from the date of receiving the application for determination of the starting price for the auction from the applicant, the finance authority shall determine the starting price in accordance with regulations of law on collection of land rent or water surface rent and request a competent state authority (the People’s Committee of province or an authorized state authority) for approval.

If the application is invalid, the finance authority shall inform the applicant in writing of additional documents within 5 working days from the day on which the application is received.

Within 10 days from the day on which the valid application is received, the finance authority shall provide the applicant with the starting price.

An organization responsible for holding the auction shall conduct the auction according to the decision on approval for the starting price from the competent state authority.

Decree No. 123/2017/ND-CP of Vietnam’s Government takes effect from January 01, 2018.

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