Home Foreign Direct Investment Revised (land) law allows foreign nationals to own condominiums

Revised (land) law allows foreign nationals to own condominiums

Date

Category

Source from Vientiane Times: http://www.vientianetimes.org.la/freeContent/FreeConten_Revised_184.php , dated 22nd Sep 2020

———-

Foreigners will be able to own condominiums in Laos once the authorities enforce the newly revised Law on Land.

The Lao Official Gazette, a government website that publishes state legislation, has posted the latest version of the Law on Land, which permits foreigners to own condominiums.

Under Article 132 of the law, foreigners can now purchase and own condominiums in Laos.
Under the revised law, foreigners can also own land use rights under land lease and concession agreements with Lao citizens and the government. However, land ownership rights are limited to 30 years and 50 years respectively. 

Land leases and concessions may be renewed with the consent of the government, National Assembly or provincial People’s Council, according to articles 117 and 120 of the law.

Officials from the Lao National Chamber of Commerce and Industry say said the government’s decision to allow foreigners to own condominiums will be a major boost to the real estate market.

In the past, foreigners faced difficulties in purchasing real estate as there was no supporting legislation.

This slowed the development of the real estate market, they said, adding that some foreigners bought property using a Lao proxy.

“The new legislation will give foreigners confidence about buying real estate in Laos as there is now legal backup for such transactions,” the Managing Director of RentsBuy, Mr Houmphanh Salyalath said on Monday.

He said his company had received many enquiries from Lao people living overseas and from Westerners about the government’s ruling on property ownership, adding that this indicated there was a bright future for the real estate business.

Mr Houmphanh said he expected Chinese investment in real estate would be more visible in the coming years alongside the completion and operation of the Laos-China railway.

Officials say Laos is not the first country to allow foreign nationals to own condominiums, adding that neighbouring countries regard investment in condominium construction as a major boost to economic growth.

Observers note that Laos is a peaceful country and centrally located in the Mekong region.
The government’s decision to transform the landlocked country into a land link would make Laos a new and attractive investment destination, they said, especially as it borders on China, one of the world’s largest markets.

Recent posts

ແມ່ຍິງ ແລະ ສິດທິຕໍ່ທີ່ດິນ: ການປ່ຽນແປງຂອງຊົນນະ ບົດ ແລະ ຄວາມໄຝ່ຝັນ ເພື່ອຮັບປະກັນສິດເປັນເຈົ້າຂອງທີ່ດິນຢ່າງໝັ້ນຄົງ

ແມ່ຍິງສູນເສຍການເຂົ້າເຖິງ ແລະ ການຄຸ້ມຄອງທີ່ດິນ ເຊັ່ນ: ບ້ານທີ່ສືບທອດເຄືອຍາດຜ່ານທາງແມ່ຍິງໃນເຂດທົ່ງພຽງ ແມ່ຍິງໄດ້ຮັບມູນມໍລະດົກດິນນາທີ່ເປັນດິນສ່ວນບຸກຄົນ ສືບທອດຈາກແມ່ ແລະ ບ້ານ ທີ່ສືບທອດເຄືອຍາດຜ່ານທາງຜູ້ຊາຍ ສ່ວນຫຼາຍແມ່ນໃຊ້່ດິນຊຸມຊົນສຳ ລັບການດຳລົງຊີວິດ.

ວັນທີ 16 ຕຸລາ 2020: ວັນອາຫານໂລກ World Food Day 2020

ເພື່ອຄໍານຶງເຖິງຄວາມສໍາຄັນຂອງຂະບວນການຜະລິດອາຫານ ເພື່ອຄວາມສົມບູນ ແລະ ການເຕີບໂຕຂອງປະຊາກອນໂລກ ແລະ ການຮັກສາຊັບພະຍາກອນທໍາມະຊາດ ເພື່ອຮັກສາແຫຼ່ງອາຫານໄວ້ຢ່າງໝັ້ນຄົງ

ການຢັ້ງຢືນໃບຕາດິນເສຍຫາຍ: ຈະເຮັດແນວໃດ ເມື່ອໃບຕາດິນເສຍຫາຍ ຫຼື ຖືກທໍາລາຍ?

ໃນກໍລະນີຫາກໃບຕາດິນຖືກເສຍຫາຍ ຫຼື ຖືກທໍາລາຍ ຜູ້ທີ່ເປັນເຈົ້າຂອງໃບຕາດິນນັ້ນ ສາມາດຂໍອອກສໍາເນົາໃບຕາດິນ ເພື່ອອອກໃບຕາດິນຄືນໃໝ່ໄດ້ ເພື່ອທົດແທນໃບທີ່ຖືກເສຍຫາຍ ຫຼື ຖືກທໍາລາຍ

ເງື່ອນໄຂໃນການໄດ້ຮັບການທົດແທນຄ່າເສຍຫາຍຈາກການຈັດສັນພູມລໍາເນົາ: ປະຕິທິນກົດໝາຍປະຈໍາເດືອນ ກັນຍາ – ຕຸລາ 2020

ການທົດແທນຄ່າເສຍຫາຍຈໍາເປັນຕ້ອງມີສິ່ງຢັ້ງຢືນທີ່ເປັນລາຍລັກອັກສອນ ແລະ ບໍ່ເປັນລາຍລັກອັກສອນ ຈຶ່ງຈະສາມາດໄດ້ຮັບຄ່າທົດແທນຄ່າເສຍຫາຍຕາມຄວາມເໝາະສົມ ແລະ ເປັນຈິງ

Govt partners with hi-tech company in land surveys

Through this cooperation framework, modern technical systems will be used for land surveys and mapping to streamline land registration and issuing of land title deeds.
loລາວ
en_USEnglish loລາວ