Vietnam: In which cases shall the real estate broker license be revoked?

The real estate broker license shall be revoked in the cases specified in Circular No. 11/2015/TT-BXD of the Ministry of Construction of Vietnam, specifically as follows:

- The license holder has lost his/her capacity for civil acts;

- The license holder has declared deceitful information in his/her application;

- The broker license is erased or altered;

- The broker license is lent or leased to another person;

- The license holder has violated the principles of practice as stipulated in the Law on real estate trading and the contents specified in the license;

- The license holder has violation acts resulting in his/her license revoked as stipulated by the laws.

Moreover, with regard to the revocation of real estate broker license, the followings should be noted:

- The broker license is revoked by the construction department issuing such broker license. If it is revoked by other competent agencies in accordance with the laws, a written notice shall be sent to the construction department issuing such broker license for knowing and implementing as prescribed in this Circular.

- The person whose license is revoked can not ask for reissuance of broker license within 05 years as of the issuing date of decision on license revocation.

- After the decision on license revocation is granted, the construction department issuing such broker license shall notify the license holder to resubmit his/her license. The construction department shall publish the name of the person whose broker license is revoked on the mass media and on its website and delete such name from the website of the construction department.

View detailed regulations on revocation of real estate broker license at Circular No. 11/2015/TT-BXD of the Ministry of Construction of Vietnam, effective from February 16, 2016.

- Khanh Chi -

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