Is the head of branch of a property auction business required to be an auctioneer in Vietnam?

Is the head of branch of a property auction business required to be an auctioneer in Vietnam?

Pursuant to Clause 1, Article 29 of the Law on Property Auction 2016 stipulates on branches of property auction businesses as follows:

1. A branch of a property auction business may be established in or outside the province or centrally run city where such business has made its operation registration. The property auction business shall take responsibility for operation of its branches and appoint an auctioneer to act as the head of the branch.

2. A property auction business shall submit a dossier for registration of operation of its branch to the provincial-level Justice Department of the locality where it is located. Such a dossier must comprise:

a/ A written request for branch operation registration;

b/ The branch establishment decision;

c/ A certified copy or a copy enclosed with the original of the operation registration certificate of the business;

d/ A certified copy or a copy enclosed with the original of the auction practice certificate of the branch head;

dd/ Papers proving the existence of the branch office.

3. Within 7 working days after receiving a complete and valid dossier, the provincial- level Justice Department shall grant an operation registration certificate to the branch. In case of refusal to grant such certificate, it shall notify in writing the reason. The business that has its request for branch operation registration rejected may file a complaint or initiate a lawsuit in accordance with law.

4. A branch shall commence its operation from the date it is granted an operation registration certificate. Within 7 working days after being granted a branch operation registration certificate, a business shall send a written notice enclosed with a copy of the branch operation registration certificate to the provincial-level Justice Department of the locality w here it has made its operation registration.

Thus, according to the above regulations in Vietnam, the head of branch of a property auction business must be an auctioneer. Furthermore, the property auction business is responsible for the operation of its branch.

Best Regards!