What is form of real estate trading for overseas Vietnamese? Is establishing a real estate trading floor required 02 employees obtaining broker licenses in Vietnam?

Can a foreign enterprise without a representative office in Vietnam do real estate trading?

I work for a Korean company. The company does not have a representative office in Vietnam. I would like to ask, is it possible for my company to buy real estate (condotel apartment), then sell it or rent it to other foreigners?

Answer: Pursuant to Clause 1, Article 10 of the Law on Real Estate Business 2014:

"Article 10. Requirements in terms of organizations or individuals conducting real estate trading

1. Any organizations or individuals wish to conduct real estate trading shall set up enterprises or cooperatives (hereinafter referred to as enterprises) and have legal capital not smaller than VND 20 billion, excluding cases prescribed in Clause 2 of this Article."

Thus, a foreign enterprise that wants to conduct real estate trading in Vietnam must establish a business in Vietnam in accordance with Vietnamese law and be allowed to conduct real estate trading in the forms specified in Clause 3, Article 11 of the Law on Real Estate Business 2014; to buy, rent, or lease purchase real estate according to the provisions of Clause 2, Article 14 of the Law on Real Estate Business 2014.

Because the information you provided simply states that your company is a Korean enterprise, we do not know whether this enterprise has foreign investment in Vietnam or whether this enterprise is in Korea. We will divide the cases as follows:

- In case: your enterprise is a foreign-invested enterprise and is established under Vietnamese law, it is allowed to do real estate trading in Vietnam, regardless of whether it has a representative office or not.

- In case: your enterprise is in Korea, your enterprise is absolutely not allowed to do real estate trading in Vietnam.

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What is form of real estate trading for overseas Vietnamese? Is establishing a real estate trading floor required 02 employees obtaining broker licenses in Vietnam? (Image from the Internet)

Is establishing a real estate trading floor required 02 employees obtaining broker licenses in Vietnam?

Need advice on conditions for establishing a real estate trading floor? I heard that there must be 2 people with real estate brokerage practice certificates, is that true?

Answer: Article 69 of the Law on Real Estate Business 2014 stipulates requirements for real estate trading floor establishment, accordingly:

1. Any organizations or individuals who wish to provide real estate trading floor service must establish the enterprise.

2. The real estate trading floor enterprise must have at least 02 employees obtaining broker license; the manager of real estate trading floors must obtain a broker license.

3. A real estate trading floor must have regulations, name, address, facilities and technical satisfying requirements in terms of operation.

According to this regulation, businesses providing real estate trading floor services must have at least 02 people with real estate broker licenses in Vietnam.

What is form of real estate trading for overseas Vietnamese?

Hello, my name is Nguyen Minh Tuan, I have relatives currently residing in the US, planning to do real estate business. So let me ask: What is form of real estate trading for overseas Vietnamese?

Answer: Overseas Vietnamese are allowed to do real estate business in the forms specified in Clause 2, Article 11 of the Law on Real Estate Business 2014, specifically as follows:

2. Overseas Vietnamese may conduct real estate trading in the following forms:

a) Forms prescribed in Point b, d, g and h Clause 1 of this Article;

b) Build houses on land which is allocated by the State for sale, for lease, or for lease purchase;

c) Build buildings on land which is leased out or transferred in industrial parks, industrial complexes, export-processing zones, hi-tech zones, or economic zone for trading for the proper land use.

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