Decree No. 99/2015/ND-CP dated October 20th, 2015 of the Government on guidelines for the Law on Housing No. 65/2014/QH13

This Decree provides the guidelines for ownership, development, management and use of housing; housing-related transactions prescribed in the Law on Housing

One of the new points of this Decree is the supplement of some provisions on management and use of apartment buildings (Article 35). Accordingly, the following business lines are prohibited in the business area of an apartment building: explosive, combustible materials, discotheque business; repair of motor vehicles; slaughtering

With regard to the house ownership of foreign individuals and organizations, according to Article 7 of this Decree, the house ownership duration for foreign organizations must not longer than the duration written in the Investment Registration Certificate. Foreign individuals are issued the house ownership Certificate with the duration of 50 years and they may extend when the house ownership period written on the Certificate expires

Foreign entities may own up to 30% of the total number of apartments of an apartment building. For the detached houses, they may own up to 10% of the total quantity of detached houses of each project (Article 76)

This Decree comes into force from December 10th, 2015

To replace the Government's Decree No. 51/2009/ND-CP dated June 03rd, 2009; Decree No. 71/2010/ND-CP dated June 23rd, 2010; Decree No. 34/2013/ND-CP dated April 22nd, 2013 and Decree No. 84/2013/ND-CP dated July 25th, 2013.