Lines to be Drawn for Foreign-owned Housing

Xuan Ha

14:28 13/09/2016

BizLIVE -

The Ministry of Construction has just released a request for the ministries of national defense and public security and People's Committees nationwide to regulate zones for foreigner-owned homes.

Lines to be Drawn for Foreign-owned Housing

The Ministry of Construction urges all respected parties to deliver requested materials as soon as possible. Source: Internet

The Ministry of Construction stated that the Law on Housing of 2014 dedicates Chapter 9 to define and regulate home ownership by foreign citizens and organizations.

According to the Law, foreign citizens and organizations are allowed to buy, lease, gift and inherit commercial housings, including apartment buildings and detached houses in housing projects, except when these housings affect national security.

The Ministry of Construction had also released Decree No. 99/2015/ND-CP, effective from October 12, 2015 that clearly states that the Ministry of Construction delegated the Ministry of Defense, Ministry of Public Security to define areas that are vital to national security at each province and inform the local People's Committees to file housing projects that limit foreign ownership.

However, the request remains unfulfilled by the delegated authorities.

The Ministry of Construction urges all respected parties to deliver requested materials as soon as possible.

XUAN HA

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