All land in the country belongs to the people and, consequently, the state. There is no private ownership of land. Individuals and organisations may only be granted land use rights.
Foreign investors may access land under various forms to develop a real estate project in Vietnam, e.g. leasing the land directly from the State or participating in a joint venture with a local partner.
Major taxes relevant to real estate business are land rental, non-agricultural land usage tax, registration fee, Value added tax (“VAT”) and Corporate income tax (“CIT”). The tax rates are set out below.
Source : PWC