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Foreigners may own thirty percent of apartments in a building

From December 10, foreigners may own up to 30 percent of the total number of apartments in an apartment building.

According to Decree No. 99/2015/ND-CP which has been recently issued to guide the implementation of the 2014 Housing Law, the proportion of apartments owned by foreign organizations and individuals to the total number of apartments in all apartment buildings for sale or lease-purchase in a ward must not exceed 30 percent.

From December 10, foreigners may own up to 30 percent of the total number of apartments in an apartment building__Photo: Internet

As for individual houses for sale or lease-purchase under commercial housing projects, the total foreign ownership must not exceed 10 percent. However, in case the aggregrate number of individual houses under different housing projects in a ward mounts to over 2,500, the number of houses under foreign ownership in such ward must still be kept at no more than 250.

As required by the Decree, in order to own property in Vietnam, a foreigner must possess a valid visa stamped by the Vietnamese immigration authority. Persons entitled to diplomatic privileges and immunities under the Ordinance on Privileges and Immunities for Diplomatic Representations, Foreign Consulates and Representative Offices of International Organizations in Vietnam may not own apartments or individual houses in Vietnam.

Foreign organizations and individuals doing business in Vietnam may carry out property transactions if possessing valid investment registration certificates or relevant certificates granted by Vietnamese competent authorities.

The Ministry of National Defense and Ministry of Public Security will specify restricted areas or areas where residence and travel of foreigners are restricted or limited. Foreign ownership of apartments and houses on these areas is banned.

Foreign house ownership may be extended for 50 years after the initial 50-year period expires.- (VLLF)

Source: http://vietnamlawmagazine.vn

Six New Languages Added to Patent Translate

MUNICH - In a move to further improve multilingual access to information contained in patent documents, the European Patent Office (EPO) today made another set of European languages available in its free machine translation service Patent Translate. With the addition of Bulgarian, Czech, Icelandic, Romanian, Slovak and Slovenian, the service now offers on-the-fly-translation from and into English for 21 languages. It is accessible on the EPO's free online patent database, Espacenet.

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Russia to Adopt New Anti-Piracy Law

MOSCOW - On June 21, the lower house of the Russian parliament approved a new anti-piracy law, expected to enter into force on August 1, 2013, if approved by the upper house of the parliament and following the president’s signature.

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Incentives for employers, female employees

Enterprises that employ a large number of female laborers will enjoy lower corporate income tax rates from November 15.

Under Government Decree No. 85/2015/ND-CP dated October 1, enterprises regularly employing less than 100 female laborers, accounting for at least 50 percent of the total workforce, or between 100 and 1,000 women, making up 30 percent of the total workforce, or more than 1,000 female laborers, will be entitled to corporate income tax reduction in proportion to amounts additionally payable to their female employees.

Female employees in Canon Vietnam Co., Ltd., Pho Noi A industrial park, Hung Yen province__Photo: Danh Lam/VNA

Such amounts include expenses for vocational retraining of female employees who are no longer able to do their current jobs; salary and allowance for teachers of kindergartens or nursery classes organized and managed by employers; expenses for annual health check-up; allowances for female employees on maternity leave; and overtime pay to those who do not take maternity leave after giving birth.

Provincial-level People’s Committees will support enterprises in organizing kindergartens or nursery classes under regulations.

A pregnant employee may unilaterally terminate or suspend the performance of her labor contract after notifying such in advance to her employer if she has been warned by a health establishment that her current job would negatively affect the fetus.

In addition, female employees will be entitled to gynecological and obstetric checks during their annual health check-up.  Those who are nursing under 12-month infants will be entitled to a daily paid break of 60 minutes for breastfeeding or taking a rest. Those in period will have a paid break of 30 minutes per day for three days.

Source: http://vietnamlawmagazine.vn


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