What are the rights and obligations of Vietnamese people residing abroad who are leased land by the State and pay annual land rent?

Reply:According to Article 41.2 of the 2024 Land Law, people of Vietnamese origin residing abroad and economic organizations with foreign investment capital who are leased land by the State and pay annual land rent have the following rights and obligations:

- General rights and obligations stipulated in Article 26, Land Law 2024 and Article 31, Land Law 2024;

- Mortgage your own assets attached to land at credit institutions licensed to operate in Vietnam;

- Contribute capital with assets owned by oneself attached to the land during the land lease term; the recipient of the capital contribution with assets shall continue to be leased land by the State for the determined purpose during the remaining term;

- Sell assets owned by oneself attached to land, sell assets owned by oneself attached to land and lease rights in land lease contracts when meeting the conditions specified in Article 46, Land Law 2024.

+ The buyer of assets attached to land and lease rights in the land lease contract may continue to lease land for the determined purpose and remaining land use term, and has the rights and obligations of a land user as prescribed by this Law and relevant laws;

- Lease of assets owned by oneself attached to land and lease rights in land lease contracts;

- Sublease land use rights in the form of annual land rental payment for land with completed infrastructure construction in case of being permitted to invest in building and trading infrastructure for land in industrial parks, industrial clusters, and high-tech zones;

+ The lessee of land use rights must use the land for the right purpose and fulfill financial obligations as prescribed.