Question: Is is possible to grant a mortgage over land use right in Vietnam in favour of foreign company in connection with the sales and purchase contract (or termination of the contract)?
Answer: As your request, SBLAW would like to advise as follows:
According to Article No. 172 and 179 of Land Law 2013, Land Use Right can be mortgaged to Credit Organizations duly established and operated in Vietnam only.
Then, if you are a not Credit Organization, you can not act as Mortgagee of Land Use Right.