Law on amendment and supplementation to a number of articles of Land Law No. 31/2024/QH15, Housing Law No. 27/2023/QH15, Law on Real Estate Business No. 29/2023/QH15 and Law on Credit Institutions No. 32/2024/QH15 No. 43/2024/QH15

Document identity and legal basis

Law No. 43/2024/QH15 on amendment and supplementation to a number of articles of four laws was adopted by the National Assembly of the Socialist Republic of Viet Nam (15th tenure, 7th session) on 29 June 2024 and promulgated in Hanoi. It amends and supplements Land Law No. 31/2024/QH15, Housing Law No. 27/2023/QH15, Law on Real Estate Business No. 29/2023/QH15 and Law on Credit Institutions No. 32/2024/QH15. The Law cites the Constitution of the Socialist Republic of Vietnam as its constitutional basis and was signed by Chairperson of the National Assembly Tran Thanh Man.

Scope and application

The Law applies to all subjects governed by the four amended Laws, including investors and Project owners involved in land allocation and land lease, entities managing and using Land for national defense and security purposes combined with production and economic construction, and credit institutions. It does not create a new standalone regime but adjusts effective dates and transitional provisions of the four laws to enable early implementation.

Key amendments to the Land Law (Article 1)

Article 1 amends four provisions of Land Law No. 31/2024/QH15. Article 251(2) is amended to provide that RESOLUTION No. 132/2020/QH14 dated 17 November 2020 on piloting policies to resolve difficulties in management and use of Land for national defense and security purposes combined with labor, production and economic construction is repealed from 1 January 2025. Article 252(1) is amended to advance the general effective date of the Land Law to 1 August 2024, except for cases prescribed in Clauses 2 and 3 of that Article.

Article 255(10) is amended to provide transitional handling for Investment projects subject to land allocation or land lease without auction of land use rights under Land Law No. 45/2013/QH13, relevant laws and consistent with the land-use master plan and plan, where land has not yet been allocated or leased. Such projects may continue with the next steps in the order and procedures for land allocation and land lease under the new Land Law if: (a) the investor or Project owner was selected in accordance with laws on investment, housing and Bidding during the period from 1 July 2014 to before 1 August 2024; or (b) the investor submitted a Valid dossier to carry out investor selection before 1 August 2024 and the investor or Project owner was selected before 1 January 2025, with the selection carried out under the investment, housing and Bidding laws effective at the time of dossier submission.

The opening paragraph of Article 260(4) is amended to provide that land-use plans, handling plans, and plans for rearrangement and handling of houses and land approved by competent authorities under RESOLUTION No. 132/2020/QH14 before 1 January 2025 shall be implemented according to the approved plan.

Amendments to Housing, Real Estate Business and Credit Institutions Laws

Article 2 amends Article 197(1) of Housing Law No. 27/2023/QH15 to set its effective date as 1 August 2024. Article 3 amends Article 82(1) of the Law on Real Estate Business No. 29/2023/QH15 to set its effective date as 1 August 2024. Article 4 amends Article 209(2) of the Law on Credit Institutions No. 32/2024/QH15 to provide that Clause 3 of Article 200 and Clause 15 of Article 210 of that Law take effect from 1 August 2024.

Effect and transition

Article 5 provides that this Law (No. 43/2024/QH15) takes effect from 1 August 2024. The effect is to bring forward the enforcement of the Land Law, Housing Law and Law on Real Estate Business from their previously scheduled later dates to 1 August 2024, partially advance two provisions of the Law on Credit Institutions, and repeal the pilot RESOLUTION on defense and security land from 1 January 2025 while preserving approved plans issued thereunder.