(12-09-2008)
HA NOI — The Ministry of Construction on Wednesday issued a draft decree that will make it easier for Viet Kieu (overseas Vietnamese) to own homes in Viet Nam.
The bill amends and supplements article No 126 of the Housing Law on home ownership for overseas Vietnamese. The draft law, which has been submitted to the Government for approval, will divide overseas Vietnamese allowed to buy houses in Viet Nam into three categories.
Vietnamese citizens living abroad who retain their Vietnamese nationality will be eligible to buy an unlimited number of houses in Viet Nam.
Those of Vietnamese origin who have not retained their Vietnamese citizenship will also be allowed to own an unlimited number of houses in Viet Nam if they are investors in the country, are married to a Vietnamese citizen living in the country, have made significant contributions to the country or are university graduates who are working in Viet Nam’s socio-economic sectors .
Those of Vietnamese origin who have been in Viet Nam for at least six months or hold a visa-exemption certificate will be permitted to own a single residence in the country.
If the changes are adopted, nearly two million out of three million overseas Vietnamese will be eligible to buy houses in Viet Nam, according to the ministry.
"Owning houses in Viet Nam will create favourable conditions for Vietnamese citizens living abroad like me to visit the homeland frequently, particularly to do business, thus contributing more to national construction and development," said Le Phuc Hung, a businessman from Germany.
"The move is aimed at encouraging more overseas Vietnamese to own houses in Viet Nam, thus creating more equality in home-ownership rights for Vietnamese citizens both at home and abroad," said Minister of Construction Nguyen Hong Quan.
The current regulation stipulates that overseas Vietnamese can only own property in the country if: they are of Vietnamese origin and long-term investors in Viet Nam, scientists or cultural experts, they have made significant contributions to the country, or are entitled to live in Viet Nam for a protracted period of time.
Under the current regulation, overseas Vietnamese who have been staying in Viet Nam for at least six months are allowed to own just one residence in the country. — VNS
HA NOI — The Ministry of Construction on Wednesday issued a draft decree that will make it easier for Viet Kieu (overseas Vietnamese) to own homes in Viet Nam.
The bill amends and supplements article No 126 of the Housing Law on home ownership for overseas Vietnamese. The draft law, which has been submitted to the Government for approval, will divide overseas Vietnamese allowed to buy houses in Viet Nam into three categories.
Vietnamese citizens living abroad who retain their Vietnamese nationality will be eligible to buy an unlimited number of houses in Viet Nam.
Those of Vietnamese origin who have not retained their Vietnamese citizenship will also be allowed to own an unlimited number of houses in Viet Nam if they are investors in the country, are married to a Vietnamese citizen living in the country, have made significant contributions to the country or are university graduates who are working in Viet Nam’s socio-economic sectors .
Those of Vietnamese origin who have been in Viet Nam for at least six months or hold a visa-exemption certificate will be permitted to own a single residence in the country.
If the changes are adopted, nearly two million out of three million overseas Vietnamese will be eligible to buy houses in Viet Nam, according to the ministry.
"Owning houses in Viet Nam will create favourable conditions for Vietnamese citizens living abroad like me to visit the homeland frequently, particularly to do business, thus contributing more to national construction and development," said Le Phuc Hung, a businessman from Germany.
"The move is aimed at encouraging more overseas Vietnamese to own houses in Viet Nam, thus creating more equality in home-ownership rights for Vietnamese citizens both at home and abroad," said Minister of Construction Nguyen Hong Quan.
The current regulation stipulates that overseas Vietnamese can only own property in the country if: they are of Vietnamese origin and long-term investors in Viet Nam, scientists or cultural experts, they have made significant contributions to the country, or are entitled to live in Viet Nam for a protracted period of time.
Under the current regulation, overseas Vietnamese who have been staying in Viet Nam for at least six months are allowed to own just one residence in the country. — VNS
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