The term for land allocation or land lease to organizations for the purpose of agriculture, forestry, aquaculture or salt production; to organizations, households or individuals for the purpose of trading and services or for non-agricultural production establishments;...
Question: If a foreign-invested enterprise buys apartments from a housing development project, how long does a land use license last?
Answer: According to the Ministry of Natural Resources and Environment
Under Point g, Item 1, Article 99 of the Land Law, the State shall grant a certificate of land use rights and ownership of houses and other land-attached assets for people who buy houses and other land-attached assets.
* According to Point 3, Article 126 of the Land Law, the term for land allocation or land lease to organizations for the purpose of agriculture, forestry, aquaculture or salt production; to organizations, households or individuals for the purpose of trading and services or for non-agricultural production establishments; to organizations for implementing investment projects; to overseas Vietnamese and foreign-invested enterprises for implementing investment projects in Viet Nam, shall be considered and decided on the basis of the investment projects or applications for land allocation or land lease, but must not exceed 50 years.
For large investment projects with slow recovery of capital, projects in areas with difficult socio-economic conditions or with especially difficult socio-economic conditions which require a longer term, the term of land allocation or land lease must not exceed 70 years.
For projects on construction of houses for sale or for a combination of sale and rent or for lease- purchase, the land use term shall be determined in accordance with the duration of the project. Those who buy houses associated with land use rights may use land for a long and stable term.
At the expiry of the term, if the land users still have land use needs, the State shall consider an extension which must not exceed the term prescribed in this Clause.
* Under Point b, Item 8, Article 6 of Circular 23/2014/TT-BTNMT, dated May 19, 2014, in case of being allotted land from the State with land use fees (including the cases of land allotment through the auction of land use right; buying of building apartment and in case of being allotted land from high-tech industrial park or economic zone management board and in case of being reduced or exempted from financial obligations), write “the State allots land with land use fees”./.
(Source:VGP)
