Vietnam: In which cases is the establishment of real estate enterprise not required for transfer and lease of real estate?

According to Article 5 of Decree No. 76/2015/ND-CP of Vietnam’s Government, organizations, households and individuals conducting sale, transfer, lease, and lease purchase of real estate prescribed in Clause 2 Article 10 of the Law on real estate trading are not required to set up real estate enterprise and include:

- Organizations, households and individuals conducting sale, transfer, lease and lease purchase of real estate without business purposes and organizations, households or individuals conducting sale, transfer, lease and lease purchase of real estate with business purposes and total investment are under 20 billion (excluding land levies).

- Organizations transferring land use rights or selling buildings due to bankruptcy, dissolution, or division.

- Credit institutions, branches of foreign banks, Asset Management Company (AMC), Vietnam Asset Management Company (VAMC) and other organizations or individuals transferring land use rights, real estate projects, or selling buildings subject to mortgage for debt recovery.

- Organizations, households or individuals transferring land use rights or selling buildings according to decisions of courts or competent agencies upon their dispute, complaints, or denunciation.

- Organizations, households and individuals building houses for sale, lease or lease purchase not subject to enterprise establishment as prescribed in law on housing.

- Agencies or organizations permitted to transfer land use rights or sell state-owned buildings by competent agencies as prescribed in law on management of public property.

- Organizations, households and individuals selling, transferring, leasing, or leasing and purchasing their own real estate.

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

Thu Ba

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