Vietnam has recently passed the 2024 Land Law, which expands land use rights for overseas Vietnamese (OV), allowing them to own real estate in the country. The new law grants OV almost all the land use rights previously reserved for Vietnamese citizens, as well as benefits for foreign-invested economic entities and people of Vietnamese origin abroad. This change is expected to bring more investment opportunities for OV homebuyers, as they no longer have to invest in property through family members or relatives, which often led to disputes. The new Land Law solves this problem and minimizes risks for OV investors [17b11d32].
When the amended Land Law comes into effect in January 2025, more overseas Vietnamese will be able to own local property. Overseas Vietnamese, including those who have returned to and resided in Vietnam, are reportedly pleased to be able to buy real estate in the country. The amended Land Law, which comes into effect on January 1, 2025, is expected to boost Vietnam's property market by allowing overseas Vietnamese to buy local properties. According to Article 4 of the revised Land Law, overseas Vietnamese are those who have resided in other countries with or without Vietnamese nationality. They will have full rights and obligations as Vietnamese citizens when buying a house in Vietnam. The revised law will have a positive impact on the domestic real estate industry and create new opportunities for economic growth. Many American-Vietnamese residents want to return to Vietnam when they retire and hope to settle in the country. Vietnamese remittances increased by 16% to $16 billion in 2023 compared to 2022, with an estimated $2 billion injected into the Vietnamese property market [972bd984] [17b11d32].
In China, a new law called the Rural Collective Economic Organisations Law aims to help Chinese women assert their land rights. The law aims to give clearer details on membership rules for rural collectives, a crucial step towards more equitable land ownership for rural women. Rural land in China is divided among families according to their size. Under the 1984 Household Responsibility System, land is registered in the name of the household head, usually the man, excluding women from owning or inheriting land. The new law removes conditions that previously had to be met when evaluating membership, protecting the rights of women in rural collectives. It also specifies the circumstances under which newly married individuals and newborns should obtain membership in a rural collective economic organisation, ensuring that women who move to their husband’s hometown after marriage can obtain legal membership, and also providing legal protection for children. The law has introduced procedural safeguards, allowing residents who disagree with the membership confirmation decision to resort to mediation, arbitration, or litigation. The procuratorate is authorized to issue procuratorial recommendations or bring public interest litigation against the collective economic organisation. However, some articles in the law remain unclear and open to interpretation, requiring further clarification through judicial interpretations. The law does not specify the details of land distribution, including how assets would be divided among members in the event of a male member’s death. The law also does not define the specific proportion of shares or the amount of money each member would receive, leaving the question to village assemblies. Experts have voiced concerns that the law still contains some ambiguity that could lead to manipulation by rural authorities. Local governments and courts are urged to strictly enforce the new law [5e763faf].
These new laws in Vietnam and China represent significant steps towards improving land rights for women and overseas Vietnamese. While the Vietnamese Land Law expands land use rights for overseas Vietnamese, the Chinese Rural Collective Economic Organisations Law aims to give clearer details on membership rules for rural collectives, protecting the rights of women in rural areas. Both laws have the potential to promote gender equality and create more equitable land ownership systems in their respective countries [5e763faf] [17b11d32].