Any entity who wishes to conduct real estate in Vietnam trading must set up an enterprise of which the capital is not less than VND 20 billion

Specifically, any organization or individual wishes to conduct real estate trading must set up an enterprise or cooperatives (hereinafter referred to as enterprises) which has an amount of legal capital of not smaller than VND 20 billion, excluding the entities specified in Decree No. 76/2015/ND-CP of Vietnam’s Government, including:

- Any organization, household or individual who conducts small-scale or irregular transactions of real estate sale, transfer, lease, or lease purchase prescribed in Article 5 of this Decree;

- Any organization or individual providing real estate services prescribed in Chapter IV of the Law on real estate trading.

The amount of legal capital, which is “not smaller than VND 20 billion”, shall be determined according to the amount of charter capital of the enterprise as prescribed. The enterprise is not required to register the legal capital.

Every real estate enterprise subject to legal capital shall take responsibility for the truthfulness and accuracy of their amount of legal capital.

Note: Any operating real estate enterprise failing to satisfy requirement pertaining to legal capital prescribed in Decree No. 76/2015/ND-CP (i.e. the requirement on the amount of legal capital, which is “not smaller than VND 20 billion”) is entitled to keep operating, provided that it must satisfy such requirement within 01 year from July 01, 2015 if it continues to conduct real estate trading in Vietnam.

View full text at Decree No. 76/2015/ND-CP of Vietnam’s Government, effective from November 01, 2015.

Thu Ba

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