Procedures for transferring the whole or a part of real estate project in Vietnam decided by the Prime Minister?
- What is the order of carrying out the procedures for transferring real estate projects in Vietnam decided by the Prime Minister?
- What are the components of a dossier of application for transfer of a real estate project in Vietnam decided by the Prime Minister?
- Conditions for carrying out procedures for transferring real estate project in Vietnam decided by the Prime Minister?
What is the order of carrying out the procedures for transferring real estate projects in Vietnam decided by the Prime Minister?
According to subsection 1, section I, part II, the list promulgated together with Decision 94/QD-BXD in 2022 stipulating the order of carrying out procedures for transferring part or the whole real estate project in Vietnam decided by the Prime Minister determined as follows:
- The investor of a real estate project shall submit, directly or by post, 01 set of documents on transfer of the whole or a part of the real estate project to the People's Committee of the province where the project is located.
- The People's Committee of the province is responsible for sending directly or by post 01 set of application file for transfer of the whole or part of a real estate project for appraisal opinions of the Ministry of Construction and other relevant ministries and sectors. related to the project, the part of the project transferred; In case the transferee is a foreign-invested enterprise and the transferred real estate project or part of the project is located in border communes, wards, townships, coastal areas or islands, additional opinions must be obtained. appraisal by the Ministry of National Defense and the Ministry of Public Security. The time limit for submitting dossiers and receiving appraisal comments from ministries and branches is 25 days from the date of receipt of complete and valid dossiers.
- After completing the appraisal, the People's Committee of the province shall submit it to the Prime Minister for consideration and decision to permit the transfer; In case a real estate project or part of a project is ineligible for transfer, the People's Committee of the province must send a written notice to the project investor clearly stating the reason. The time to collect opinions, appraise, appraise and submit to the Prime Minister for consideration and decision on transfer permission is 45 days from the date of receipt of complete and valid dossiers.
- After the Prime Minister's decision to permit the transfer of a real estate project is issued, the People's Committee of the province is responsible for publicly announcing the decision permitting the transfer of the project or part of a real estate project on the Portal. electronic information of the People's Committee of the province, the housing management agency of the province where the project is located, and send this decision to the Ministry of Construction for consolidation and monitoring. The transferor and transferee must publicly announce this decision on the enterprise's website.
Procedures for transferring the whole or a part of real estate project in Vietnam decided by the Prime Minister?
What are the components of a dossier of application for transfer of a real estate project in Vietnam decided by the Prime Minister?
Pursuant to subsection 1, section I, Part II of the List promulgated together with Decision 94/QD-BXD in 2022, stipulating the composition of the application file for transfer of part or the whole of a real estate project in Vietnam approved by the Prime Minister. The Government decided as follows:
- An application for transfer of all or part of a real estate project of the investor;
- Draft contract for transfer of all or part of real estate project;
- Project dossier, project part proposed for transfer includes:
+ Decision or approval of investment policy or investment permission document or investment approval document issued by a competent state agency (copy and presentation of the original for comparison or a notarized copy); authentication);
+ Decision approving the project (copy and presentation of the original for comparison or a notarized or authenticated copy);
+ Detailed planning 1/500 or drawing of the total ground (copy and present the original for comparison or a notarized or authenticated copy);
+ Papers proving completion of project site clearance (copy and presentation of the original for comparison or a notarized or authenticated copy);
+ Papers proving that the investment in construction of corresponding technical infrastructure works has been completed according to the schedule stated in the project, in case of transferring the entire infrastructure construction investment project (copy and present the original for comparison or a notarized or authenticated copy);
+ The certificate of land use right of the whole or part of the real estate project to be transferred (a copy and present the original for comparison or a notarized or authenticated copy);
- Report on the real estate project implementation process of the investor up to the time of transfer.
- The dossier of the transferee of the whole or part of the real estate project includes:
+ An application for transfer of the whole or part of the project;
+ Certificate of business registration or Certificate of investment registration or documents proving the establishment of the organization (copy and present the original for comparison or a notarized or authenticated copy), except in case foreign investors have not yet established economic organizations according to the provisions of the law on investment;
Documents proving financial capacity; prove the mobilized capital sources (if any) in accordance with the law to ensure the continued implementation of the project according to the schedule approved by the competent authority; For real estate businesses that receive the transfer, they must have papers proving their financial capacity specified in Clause 2, Article 4 of the Government's Decree No. 02/2022/ND-CP dated January 6, 2022.
Conditions for carrying out procedures for transferring real estate project in Vietnam decided by the Prime Minister?
Pursuant to subsection 1, section I, Part II of the List promulgated together with Decision 94/QD-BXD in 2022, providing for conditions for requesting the transfer of part or the whole of a real estate project in Vietnam approved by the Prime Minister. decide as follows:
- The transferor has obtained a certificate of land use right for the whole or part of the transferred project.
- The investor who receives the transfer of the whole or a part of a real estate project must be a real estate enterprise, have sufficient financial capacity and commit to continue the implementation of construction investment and business in accordance with the law. provisions of the law, ensuring the progress and content of the project.
- Organizations and individuals trading real estate must meet the following conditions:
+ Must be disclosed on the enterprise's website, at the head office of the Project Management Board (for real estate investment and business projects), at the real estate trading floor (for business cases). business through the real estate exchange) information about the business (including name, head office address, contact phone number, name of the legal representative), information about real estate put into business. business as prescribed in Clause 2, Article 6 of the Law on Real Estate Business, information on mortgage of houses, construction works, real estate projects put into business (if any), information on quantity, types of real estate products being traded, quantity and types of real estate products sold, transferred, lease-purchased and the remaining quantity and types of products that are still being traded.
As for the publicly available information specified at this point, which subsequently changes, it must be promptly updated immediately after the change;
+ Only trade in real estate that fully meets the conditions specified in Article 9, Article 55 of the Law on Real Estate Business.
- In case an investor is selected to be the investor of a real estate project according to the provisions of law, such investor must have an equity capital of not less than 20% of the total investment capital for the project. having a land use scale of less than 20 hectares, not less than 15% of the total investment capital, for projects with a land use scale of 20 hectares or more. When conducting real estate business, the project investor must satisfy the conditions specified above.
The determination of equity specified in this Clause is based on the results of the most recent audited financial statements or the results of independent audit reports of the operating enterprise (made in the year or immediately preceding year); In the case of a newly established enterprise, the equity capital shall be determined according to the actual contributed charter capital as prescribed by law.
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