You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

September 2, 2015

PLC Commercial Real Estate Multi-Jurisdictional Guide 2015/16 – Vietnam Chapter

Subscribe to Updates
Practical Law Company

The 2015/16 edition of Practical Law Company’s Commercial Real Estate  guide provides overviews of commercial real estate laws and regulations in 22 jurisdictions worldwide. Vinh Quoc Nguyen, a senior attorney-at-law in Tilleke & Gibbins’ corporate and commercial group in Ho Chi Minh City, authored the Vietnam chapter of the guide. The Vietnam chapter delves into the following main topics:

  • The Corporate Real Estate Market: Trends over the last 12 months and most significant deals.
  • Real Estate Investment: Structures typically used for investment, main sources of finance, types of investors, government schemes to promote overseas investment into Vietnam, and restrictions on foreign ownership or occupation.
  • Title to Real Estate: Determining title to real estate, relevant authorities, electronic access and conveyancing, main information and documents registered in a title’s public register, disclosure of confidential information, state guarantees to title, government liability for errors in title registration, insurance, and tenure.
  • Sale of Real Estate: Preliminary agreements, corporate real estate sale contract, main real estate provisions in share purchase agreements, due diligence, sellers’ warranties, liability, environmental compliance, and completion arrangements.
  • Real Estate Tax: Stamp duty/transfer tax, mitigating tax liability on acquisitions of large real estate portfolios, value added tax, and municipal taxes.
  • Climate Change: Reducing greenhouse gases and energy efficiency requirements.
  • Finance: Secured lending and real estate financing techniques.
  • Leases: Negotiation of contractual lease provisions, executing a lease, rent payments, length of term and security of occupation, disposal, repair and insurance, and landlord’s remedies and termination.
  • Planning and Development Controls: Compulsory purchase of business premises by local or state authorities, relevant authorities, and planning consent.
Download Full Article
Related Professionals

Practices

Corporate/M&A

Real Estate

Location

RELATED INSIGHTS​ 

June 6, 2024
On January 18, 2024, Vietnam’s National Assembly passed a new Land Law (“Land Law 2024”) that is scheduled to take effect on January 1, 2025, replacing the current Land Law 2013. To mitigate challenges faced by the real estate market, in late May 2024, the government proposed amendments to the Land Law that would move the effective date up five months, to August 1, 2024, pending approval by the National Assembly. One of the key sectors to be impacted by the Land Law 2024 is the energy sector, which requires large land areas for power plants and infrastructure, especially given Vietnam’s 2050 net zero emissions commitment. Below are highlights of how the new Land Law 2024 will affect Vietnam’s energy sector. Annual payment of land rental Under the Land Law 2013, investors implementing energy projects (e.g., solar power projects) are entitled to choose to lease land with either (i) an annual rental payment or (ii) a single upfront payment for the entire term of use. Under the Land Law 2024, these investors are only allowed to use land in the form of an annual rental payment. As the annual land rental is calculated in five-year cycles, based on the land price table decided by the state, this new restriction means that investors in energy projects will face an additional risk of a sudden increase in land rental, disrupting their financial planning. Investors using land sites leased with annual rental payments are also not allowed to mortgage their land-use rights, but can only mortgage assets attached to the land, at credit institutions licensed to operate in Vietnam. Accordingly, this may affect the ability of energy projects to obtain financing during the development stage, because they no longer have assets that can be mortgaged. Obtaining land Under the Land Law 2024,
Read More
May 10, 2024
Thailand’s Board of Investment (BOI) has issued a notification granting investment privileges to qualified new residential projects for low-income individuals. Notification No. Sor. 1/2567 Re: Promotion of Residential Activities for Low-Income People was published in the Government Gazette on May 3, 2024, and came into effect the following day. To be eligible for BOI promotion, at least 80% of the total residences in a project must meet the requirements for usable area and price. The minimum usable area is 24 square meters for condominium units and 70 square meters for town houses and detached houses. The residences can only be sold to individuals, and the sale price for each of these condominium units or houses (including the price of any land) must not exceed THB 1.5 million. Projects must also meet the following criteria: Projects must include a car park, closed circuit television (CCTV) throughout the project, a 24-hour security guard, cleaning staff, a common area, and other facilities in an appropriate proportion. The building plan and layout must be approved by the BOI. A permit for the construction of a building under building control laws and other relevant laws must be obtained. Approval must also be obtained from the Government Housing Bank prior to submission of the application to the BOI. However, ISO 9000, ISO 14000, or other similar international standard certification is not required. Under the notification, applications for such promotion must be submitted to the BOI by the end of 2025. New low-income residential projects promoted by the BOI will be granted a corporate income tax exemption for a period granted for A4-promoted activities (typically three years). For corporate income tax exemptions, the investment will only be calculated based on the construction costs for roads, other facilities, or public utilities that are commonly used within the
Read More
March 25, 2024
Attorneys from Tilleke & Gibbins in Vietnam have provided an updated Vietnam chapter for Fashion Law 2024, a guide to law surrounding the business of fashion in jurisdictions around the world. The guide, which covers 20 key jurisdictions in the global fashion industry, offers insights into local legal frameworks for a range of issues, such as brand enforcement and protection, e-commerce and marketing, and sustainability. The Vietnam chapter of Fashion Law 2024 provides detailed information on the following topics: Main intellectual property rights for fashion products Contractual arrangements in manufacturing, distribution, and advertising Regulations and enforcement of online marketing Unfair competition rules and judicial interpretation Specific regulations on sustainability and ESG in fashion Special import and export rules for fashion products The full Vietnam chapter is available for free through the button below and on the Global Legal Post website. Tilleke & Gibbins also contributed the Thailand chapter to the guide.
Read More
March 25, 2024
Tilleke & Gibbins has provided an updated Thailand chapter for Fashion Law 2024 from Global Legal Post. The guide covers 20 key jurisdictions in the global fashion industry, offering insights into local legal frameworks surrounding issues such as brand enforcement and protection, e-commerce and marketing, and sustainability considerations. The Thailand chapter of Fashion Law 2024 provides detailed information on the following topics: Main intellectual property rights for fashion products Contractual arrangements in manufacturing, distribution, and advertising Regulations and enforcement of online marketing Unfair competition rules and judicial interpretation Specific regulations on sustainability and ESG in fashion Special import and export rules for fashion products The full Thailand chapter is available for free through the button below and on the Global Legal Post website. Tilleke & Gibbins also contributed the Vietnam chapter to the guide.
Read More