Foreigners allowed to own homes
1) In the case of a direct investor in Viet Nam, his/her name must be included in an investment certificate issued by a competent authority of Viet Nam that is still valid for a year or more, or he/she must provide any other written proof of membership on the board of management of the company;
(2) If hired as a director of a company, an appointment decision or labour contract;
(3) Persons working in economics, science and technology, environment, education, culture and information, sports, healthcare and law must have a bachelor’s degree or equivalent or higher, issued by a competent authority of Viet Nam or foreign country, attached to work permits or professional practice permits issued by competent authorities of Viet Nam; or,
(4) A person married to a Vietnamese national must submit a marriage registration certificate issued by Viet Nam or foreign country and papers certifying the identity of the Vietnamese spouse.
The foreign individual must also have a residence card or temporary residence card or other documents certifying residence in Viet Nam for a period of at least 12 months.
Foreign individuals and organisations owning block apartments in Viet Nam are entitled to use the public land of such block under the form of land lease with one-off payment of rent for the entire term of the lease. If such individuals or organisations transfer the apartments for Vietnamese individuals or organisations, the use of such public land shall be on a stable and long-term basis.
Employee severance pay change
The Ministry of Labor, Invalids and Social Affairs issued Circular No 17/2009/TT-BLDTBXH last month, amending Circular No 21/2003/TT-BLDTBXH of October 2003 and guiding the implementation of Decree No 44/2003/ND-CP of May 2009, on labour contracts.
Employees hired for less than three months and retired persons enjoying a monthly pension in addition to a working salary are to be paid wages based on a percentage on the salary provided in the labour contract, plus amounts for social insurance (15 per cent from the effective date of this circular to December 2009, increasing 1 per cent every year and 14 from per cent from January 2014), health insurance (2 per cent), annual leave (4 per cent), and travel allowances.
The new circular also provides how severance allowances are computed in some particular cases.
With respect to employees with several labour contracts with one company, and any of these labour contracts is terminated without payment of severance allowance, the employer must apply the full term of the labour contract to computation of the severance allowance.
If the employee has illegally terminated the labour contracts, then the term of the contract shall not be counted.
Following division, separation, merger, consolidation or transfer of ownership, management or a company’s property-use rights, the new employer must apply the time in service of the employee for the previous employer towards computation of the severance allowance. The provisions of the circular were effective from January 1, 2009.
