With the country in the throes of a housing crisis, leasing is one of the most underused and undervalued industries in the country.
The country’s booming economy is driving demand for land in Cambodia, and many people are finding it difficult to find affordable land.
Land prices are expected to go up as the country’s economy recovers.
Land leasing is a common and lucrative business for Cambodian farmers, but it is not always straightforward for foreigners, who have to negotiate the terms of the deal with local land owners.
This article describes the various types of land leases in My Vietnam, how to apply for a land lease, and how to negotiate one with the local land owner.
My Vietnam Land Leases Land Leases in Vietnam are an extremely lucrative and varied business.
Leases can be for as little as 30,000 riel ($6,400) or as much as 1 million riel, depending on the amount of land you own.
The land you lease must be owned by the same family, or be a piece of land or a forest, but you may lease a piece or all of it.
Lease agreements are generally drafted to cover the entire area covered by the lease.
You can purchase land from your local landowner for less than the market value.
However, if you lease land in a rural area, you must give the local owners an upfront payment of at least 30,00 riel (or $6,200).
Land that is already in the hands of the owner can be rented to you, or you can lease it to a third party, like a friend, or even a stranger.
Land Lease Terms and Requirements In most cases, the land leased must be in the same landowner’s ownership.
However it is often a difficult task to determine if the land owner is in fact the land’s rightful owner, as there is no law prohibiting the transfer of land.
It is also illegal to transfer land without the permission of the landowner.
There are strict rules for how much the land can be leased for, how long it can be held, and when you can expect to receive the money.
The Land Leased in Vietnam Agreement You can sign an agreement with a land leased in Vietnam at any time.
You will receive a written agreement, which you can sign and return to the landlady for approval.
Once you have signed the agreement, the Land Leasing Department will check your signature and issue a certificate of delivery, which must be returned to you.
The delivery certificate must be verified by the Land Lessee, or the Land Landlord.
It must state that the land was leased for 60 days and must be valid for 90 days from the date of delivery.
This is the exact time that the LandLease Department has the land transferred to you in the first place.
LandLessee Certificate of Delivery You will usually receive the LandLessor’s Certificate of Deliverance at the Landlord’s residence.
The certificate must include a receipt for the land delivered and your name, address, and telephone number.
Land Lessor’s Description of the LandThe LandLessessesser’s Description will contain the following information: The name of the seller, the date, time, and amount of the lease, the name of each person or company who was entitled to the lease(s), the amount paid, and the land name and address.
If applicable, it must also state the date the land became vacant.
Landlord Certificate of Transfer If the Landlessor’s Certification is confirmed by the land lease department, the person who leased the land must also send the certificate to the Land Seller.
Land Seller’s Certificate You will normally receive a Land Seller Certificate of Transfers.
The letter will state the following: The LandLession Contractor, the owner of the property, the original address of the buyer(s) and the date on which the transfer was made.