Reply to post: VietNam Divvying Up the Land? You have to be Joking!

Cambodia launches blockchain-powered peer-to-peer payments, hopes it crushes cash


VietNam Divvying Up the Land? You have to be Joking!

Following the American War in VietNam all land became the property of the State, a standard state with certain political systems (the Kmer Rouge đid the same when it ran Cambodia/Kampuchea).

The land management functions were assigned to individual provinces.

To occupy a piece of land requires acquiring a User Certificate which ís similar to a Lease, except it ís a perpetual lease. The initial User Certifcate ís purchased from the government. In daily lìfe it makes little difference since User Certificates can be sold, pledged (loan security) and inherited. I, as a Foreigner, can't hold a User Certificate, so my wife does.

Transfers of User Certificates from one legal person (including companies) to another ís registered with the Province (of City-Province).

Compulsory purchase ís interesting. In Ha Noi the city government often simply takes the land and pays compensation. In Ho Chi Minh City/SaiGon thís ís rarely done instead they issue a Notice that a User Certificate can not be used for anything except sold to the government.

There are some apartment buildings, designated for urban renewal, are completely empty except for a few hold-outs who want bigger compensation payments from the government!

And some people call VietNam a Communist country - it í similar to Denmark in many ways.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon