In 2021, there are new positive adjustments in real estate investment for foreign investors, that typically are regulations on real estate business conditions of foreign investors, so as to create advantages for foreign investors in Vietnam as prescribed in the Law on Investment 2020.
1. New adjustments in real estate investment for foreign investors in 2021.
From 2020 and earlier, foreign investors who want to invest in real estate in Vietnam need to meet the legal capital requirements according to the Law on Real Estate Trading 2014, specifically as follows:
Clause 1, Article 10 of the Law on Real Estate Trading 2014 stipulates that "Any organizations or individuals wishing to conduct real estate trading shall set up enterprises or cooperatives and have legal capital not smaller than VND 20 billion, excluding cases prescribed in Clause 2 of this Article."
Currently, the Law on Investment 2020 has removed the condition "having legal capital not less than 20 billion VND" and amended it to "Organizations and individuals doing real estate business must establish enterprises or cooperatives, except for the case specified in Clause 2 of this Article.”
Thus, organizations and individuals doing real estate trading in general and foreign investors in particular will only have to establish enterprises without having to meet the condition of 20 billion charter capital.
2. Legal grounds
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