According to the Decree, the terms of home-ownership for which foreign organizations are eligible are prescribed as follows:
- The foreign organizations prescribed in Point b Clause 1 Article 159 of the Law on Housing may hold the home-ownership for a period not exceeding the term written on their certificates of investment.
Upon the expiration of the term of home-ownership written on the Certificate of land use right, homeownership and property on land (the Certificate), if the homeowner applies for an extension, the State shall consider granting the extension as prescribed in Article 77 of this Decree.
If the certificate of investment has an indefinite term, the Certificate issued to the homeowner also has an indefinite term.
- Clause 1 of Article 8 of this Decree shall apply to the case where a foreign organization goes bankrupt, is dissolved or shut down before the term of home-ownership expires, or has its certificate of investment or license to operate in Vietnam revoked by Vietnam’s government.
During the term of home-ownership, if the foreign organization is converted into a domestic organization through acquisition or capital transfer, this organization may acquire a long-term home-ownership.
See more in Decree No.
99/2015/ND-CP .
3.283