Is it permissible to sell notary offices, which are organized as sole proprietorships in Vietnam, from July 1, 2025?

Is it permissible to sell notary offices, which are organized as sole proprietorships in Vietnam, from July 1, 2025? (Image from the Internet)

Is it permissible to sell notary offices, which are organized as sole proprietorships in Vietnam, from July 1, 2025?

According to the provisions in Article 31 of the Law on Notarization 2024, the sale of a notary office organized and operating as a type of private enterprise is as follows:

- After the notary office has been in operation for at least 2 years, the Head of the notary office organized and operating as a private enterprise is entitled to sell the notary office to another notary.

- The notary who purchases the notary office as specified in Clause 1, Article 31, of the Law on Notarization 2024 must meet the following conditions:

+ Has been practicing notarization for at least 2 years or more;

+ In cases where the person has been a partner or Head of the notary office of an organization operating as a private enterprise, the period of 2 years since the termination of partnership membership or since ceasing to be the Head of the notary office of such an organization has elapsed;

+ Commits to practice as the Head of the notary office at the acquired office.

- The provincial People's Committee considers and decides to permit the sale of the notary office organized and operating as a private enterprise.

- After selling the notary office, the Head of the notary office remains liable for all debts and other financial obligations of the office arising before the transfer date, unless there is an agreement otherwise between the Head of the notary office, the buyer, and the creditors.

- After a period of 2 years from the date on which the notary office is sold as stipulated in Article 31 of the Law on Notarization 2024, the notary who sold the office may establish a new notary office, participate in its establishment, join another partnership, or purchase a notary office organized and operating as a private enterprise.

Guidelines for establishing a notary office from July 1, 2025

The establishment of a notary office is specifically regulated in Article 24 of the Law on Notarization 2024 as follows:

- Based on the legal provisions regarding the conditions for establishing a notary office, the notary proposing the establishment must prepare and submit an application to the Department of Justice where the office is to be located.

- Notaries in one of the following categories are not eligible to establish or participate in the establishment of a new notary office:

+ Currently a public employee of a notary office;

+ Currently a partner of a notary office;

+ Currently the Head of a notary office organized and operating as a private enterprise;

+ Within 2 years as stipulated in Clause 6, Article 27, Clause 5, Article 31, and Clause 4, Article 34 of the Law on Notarization 2024.

- notary offices established in areas with difficult socio-economic conditions will enjoy preferential tax policies in accordance with tax regulations and other preferences accorded by the Government of Vietnam.

For more details, refer to the Law on Notarization 2024 effective from July 1, 2025.

The Law on Notarization 2014 will be repealed as of the effective date of the Law on Notarization 2024, except as provided in Clauses 1, 2, 3, 6, 7, 9, 11, 12, and 14 of Article 76 of the Law on Notarization 2024.

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