What are the latest requirements for the real estate broker license in Vietnam in 2023? What do real estate brokerage services in Vietnam include?
What do real estate brokerage services in Vietnam include?
Pursuant to Article 63 of the 2014 Law on Real Estate Trading in Vietnam as follows:
Real estate brokerage services in Vietnam
1. Look for partners who meet requirements given by clients for agreement negotiation and conclusion.
2. Act as authorized representative to follow procedures for real estate sale, transfer, lease, and sublease or lease purchase.
3. Provide information and support contracting parties in negotiation and conclusion of agreement on real estate sale, transfer, lease, sublease or lease purchase.
Thus, according to regulations, real estate brokerage services include the above contents.
What are the latest requirements for the real estate broker license in Vietnam in 2023? What do real estate brokerage services in Vietnam include?
What are the latest requirements for the real estate broker license in Vietnam in 2023?
Pursuant to Article 68 of the 2014 Law on Real Estate Trading in Vietnam as follows:
Real estate broker license
1. An individual shall be granted broker license if they:
a) Have full capacity for civil acts;
b) Obtain at least upper-secondary graduation degree;
c) Have passed examination in real estate brokerage knowledge.
2. Broker license’s duration is 05 years.
3. The Minister of Construction shall providing guidance on grant of broker license.
At the same time, according to the provisions of Clause 1, Article 15 of Circular No. 11/2015/TT-BXD, the requirements for issuance of a real estate broker license to candidates are defined as follows:
Issuance of real estate broker license
1. A broker license shall be granted to the candidate who has been given with passed marks as prescribed in Article 12 and sufficiently submitted the application as prescribed in Article 10 of this Circular.
Thus, the requirements for issuance of a real estate broker license to candidates include:
- Sufficient marks as prescribed in Article 12 of Circular No. 11/2015/TT-BXD;
Specifically:
Passed exam papers
1. An exam paper is considered as passed if the following requirements are satisfied:
a) Taking at least 70 marks of fundamental knowledge (out of 100);
b) Taking at least 70 marks of professional knowledge (out of 100);
2. The candidate who has the passed exam paper as prescribed in Clause 1 of this Article is eligible for the broker license issued by the Director of construction department.
- Having sufficient application for the examination for issuance of a real estate broker license as prescribed in Article 10 of Circular No. 11/2015/TT-BXD.
The application for the examination
1. 01 application form with a 4x6cm color picture taken within 06 months prior to the application for examination (using the form stated in Annex 1 of this Circular);
2. 01 certified copy of ID Card (if the candidate is a Vietnamese citizen) or Passport (if the candidate is a foreigner) (or the copy enclosed with its original for comparison).
3. 01 certified copy of Certificate of completion of a real estate brokerage training course (if any);
4. Certified copy of high-school diploma (or equivalent) or;
5. 02 4x6cm color pictures taken within 06 month prior to the application for examination and 02 envelops having stamps and specifying the full name, telephone number and address of the receiver;
6. Certified copy and translation of broker license issued by foreign competent authorities (if the candidate is a foreigner or Vietnamese holder of unexpired broker incense issued by foreign competent authorities).
Thus, according to the above provisions, the requirements for issuance of a real estate broker license to an individual are determined as follows:
- Have full capacity for civil acts;
- Obtain at least upper-secondary graduation degree;
- Have passed examination in real estate brokerage knowledge.
- Have sufficient marks.
- Have sufficient application for the examination for issuance of a real estate broker license.
Is an individual entitled to provide real estate brokerage services in Vietnam?
Pursuant to Article 62 of the 2014 Law on Real Estate Trading in Vietnam as follows:
Requirements for real estate brokerage service providers
1. Any real estate brokerage service providers must set up the enterprise and there are at least 2 employees obtaining real estate broker license (hereinafter referred to as broker license), excluding cases prescribed in Clause 2 of this Article.
2. Any individual is entitled to provide real estate brokerage services independently provided that he obtains a broker license and pays taxes as prescribed in law on taxation.
3. Any real estate service provider is not entitled to be both a broker and a contracting party in a real estate transaction.
Thus, according to the above regulations, any individual is entitled to provide real estate brokerage services independently.
However, the following two requirements must be met:
- Obtains a broker license;
- Pay taxes as prescribed.
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