Da Nang further informed 21 coastal lots with foreigner factors

The Department of Natural Resources and Environment of Da Nang has just released official information about 21 Chinese people owning coastal plots.

Accordingly, this Department affirms that, up to the present time, it is not possible to issue certificates of land use rights, ownership of houses and properties attached to land to any foreign ownership of individual houses and residential land in residential areas.

In the case of a foreign individual wishing to own a house in the form of: Buying, renting, buying, giving or inheriting commercial houses, including condominium apartments and separate houses in housing construction investment projects;

The Department of Natural Resources and Environment only considers and submits to competent authorities for settlement if and only when it meets all conditions prescribed in Article 159 of the 2014 Housing Law. For information on 21 cases of Chinese ownership of land Da Nang coastal area, Department of Natural Resources and Environment said, through the review, there are two foreign-invested enterprises (foreign individuals are contributing capital in the form of owning shares and shares in the joint venture). Enterprises are allowed to lease land, receive land use rights from domestic organizations and individuals at 21 certificates.

Specifically, Silver Shores Hoang Dat Special International Tourism and Entertainment Joint Venture Company (of which Vietnam is Hoang Dat Joint Stock Company with 10% capital contribution and Silver Shores Company Limited is headquartered in The United States, represented by capital contribution of 90% of Mr. Sui Gui Nan);

Being leased by the City People's Committee an area of 20 hectares of land for production and business establishments, 50-year land lease term (until June 21, 2056) in Khue My ward (Ngu Hanh Son district) with certificate No. AL 451916 March 21, 2007;

Another case is VNHoliday Trade, Tourism and Services Co., Ltd., which is a foreign-invested Vietnamese enterprise with a 48% stake contribution (registered by an individual named LiJinNan, permanent residence in China).

This company received a transfer from a Vietnamese individual and enterprise with 20 certified land plots at the 25m land bank streak along the wall of Mangrove Airport from 2013-2015.

Da Nang Department of Natural Resources and Environment said that according to Clause 4, Article 29 of the 2005 Investment Law, foreign investors are entitled to apply the same investment conditions as domestic investors in the case Vietnamese investor owns 51% or more of its charter capital.

Therefore, in case the VNHoliday Trade, Tourism and Services Limited Company receives the transfer of the above land use right in accordance with the Law on Investment 2014 and has the right to receive the transfer of land use rights according to the 2013 Land Law.

According to Nam Phong