What are requirements for grant of real estate broker license in Vietnam?

What are requirements for grant of real estate broker license in Vietnam?

Pursuant to Article 68 of the Law on real estate trading in 2014 stipulating real estate broker license 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.

As regulations above, an individual shall be granted broker license if they:

- Have full capacity for civil acts;

- Obtain at least upper-secondary graduation degree;

- Have passed examination in real estate brokerage knowledge.

What are requirements for grant of real estate broker license in Vietnam? - Source: Internet

What are cases of re-issuance of the real estate broker license in Vietnam?

Pursuant to Article 16 of the Circular 11/2015/TT-BXD stipulating re-issuance of the real estate broker license as follows:

Re-issuance of the real estate broker license

1. If the broker license is lost, torn, fired or destroyed by the act of God or the force majeure, the holder can apply for the reissuance.

2. The application for re-issuance of broker license is submitted to the construction department issuing the former license, including:

a) The application form for re-issuance of broker license with picture (using the form stated in Annex 5 of this Circular);

b) 02 4x6cm pictures taken within 06 months prior to the submission of application;

c) Former broker license (if any).

3. Within 10 working days as of the receiving date of valid application as prescribed in Clause 2 of this Article, the construction department shall check the application and re-issue the broker license (the word “re-issuance” shall be stated in the re-issued broker license).

4. The applicant for re-issuance shall only pay VND 200,000 (two hundred thousand dongs) to the construction department to carry out re-issuance affairs.

5. The broker license is once re-issued and the license number is the old one. The re-issued license is valid within 05 years as of the issued date of the former license (using the form stated in Annex 4b of this Circular).

As regulations above, if the broker license is lost, torn, fired or destroyed by the act of God or the force majeure, the holder can apply for the reissuance.

Note: The broker license is once re-issued and the license number is the old one.

The re-issued license is valid within 05 years as of the issued date of the former license.

What are cases of revocation of real estate broker license of individuals in Vietnam?

Pursuant to Article 18 of the Circular 11/2015/TT-BXD stipulating revocation of real estate broker license as follows:

Revocation of real estate broker license

1. The real estate broker license shall be revoked in the following cases:

a) The license holder has lost his/her capacity for civil acts;

b) The license holder has declared deceitful information in his/her application;

c) The broker license is erased or altered;

d) The broker license is lent or leased to another person;

dd) The license holder has violated the principles of practice as stipulated in the Law on real estate trading and the contents specified in the license;

e) The license holder has violation acts resulting in his/her license revoked as stipulated by the laws.

2. The broker license is revoked by the construction department issuing such broker license. If it is revoked by other competent agencies in accordance with the laws, a written notice shall be sent to the construction department issuing such broker license for knowing and implementing as prescribed in Clause 4 of this Article.

3. The person whose license is revoked can not ask for reissuance of broker license within 05 years as of the issuing date of decision on license revocation.

4. After the decision on license revocation is granted, the construction department issuing such broker license shall notify the license holder to resubmit his/her license. The construction department shall publish the name of the person whose broker license is revoked on the mass media and on its website and delete such name from the website of the construction department.

As regulations above, the real estate broker license shall be revoked in the following cases:

- The license holder has lost his/her capacity for civil acts;

- The license holder has declared deceitful information in his/her application;

- The broker license is erased or altered;

- The broker license is lent or leased to another person;

- The license holder has violated the principles of practice as stipulated in the Law on real estate trading and the contents specified in the license;

- The license holder has violation acts resulting in his/her license revoked as stipulated by the laws.

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