In Vietnam, do real estate brokers need a practicing certificate?

In Vietnam, do real estate brokers need a practicing certificate?

Pursuant to Article 62 of the Law on Real Estate Business 2014, the conditions for organizations and individuals providing real estate brokerage services are as follows:

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 pay 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.

Accordingly, real estate brokerage activities are conditional professions, individuals who want to practice are required to have a real estate brokerage practice certificate.

What are the conditions to be granted a real estate practice certificate?

Pursuant to Article 68 of the Law on real estate brokerage practice certificates as follows:

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.

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