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blue-check Foreign entities may only buy houses on the List of projects declared by Departments of Construction

Official letter No. 3800/BXD-QLN dated August 26th, 2022 of the Ministry of Construction regarding preferential policy for investment in construction of social houses at commercial housing project
Posted: 19/9/2022 8:45:26 AM | Latest updated: 22/9/2022 9:07:48 AM (GMT+7) | LuatVietnam: 5542
VietlawOnline

This Official letter is to reply to issues relating to preferential policy for investment with regard to social housing projects constructed on 20% land of commercial housing projects and the sale of houses of the projects to foreign entities.

According to Article 75 of Decree No. 99/2015/ND-CPstatus2 (amended, supplemented at clause 22 Article 1 of Decree No. 30/2021/ND-CP), investor of a commercial housing project may only sell houses (including apartments and detached houses) to foreign entities if the buyers are eligible to own houses in Vietnam and the project must be outside areas having national defense and security requirements.

The areas having national defense and security requirements shall be specified by the Ministry of National Defense and the Ministry of Public Security, then provincial Departments of Construction shall review to declare the list of commercial housing construction projects whose houses may be sold to foreign entities.

Ms Phuong Thao (VietlawOnline.com)
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