Real estate broker without practicing certificate: Fine up to 60 million

According to Decree 16/2022/ND-CP , from January 28, 2022, doing business in real estate brokerage services without a practicing certificate can be fined up to 60 million VND.

Real estate broker without practicing certificate: Fine up to 60 million

Real estate broker without practicing certificate: Fine up to 60 million VND (Artwork)

Specifically, at Point a, Clause 1, Article 59 of Decree 16/2022/ND-CP stipulates as follows:

A fine of between VND 40-60 million shall be imposed for providing independent real estate brokerage services without a practicing certificate or an expired practice certificate as prescribed.

(Previously, the fine for this act was 10-15 million VND)

In addition, a fine of between VND 40-60 million also applies to the following violations:

- Erasing or correcting the real estate brokerage practice certificate, falsifying the certificate's content;

- Lending, leasing or renting or borrowing real estate brokerage practice certificates to carry out activities related to real estate brokerage;

- Organizations and individuals providing real estate brokerage services are concurrently both a broker and a contract performer in a real estate business transaction. (This is new content added to the previous regulation)

Note : The above sanction applies to individuals. Except for the case where an organization or individual providing real estate brokerage services is both a broker and a contract performer in a real estate transaction, the above fine will apply to such organizations and individuals. office.

For the same act of administrative violation, the fine level for individuals is 1/2 of the fine level for organizations.

In addition, Decree 16/2022/ND-CP also stipulates additional sanctions and remedial measures for the above violations as follows:

- For acts of lending, leasing or renting or borrowing a real estate brokerage practice certificate to carry out activities related to real estate brokerage: an additional sanction of deprivation of the right to use real estate brokerage shall be applied. practice certificates from 3 to 6 months.

- For acts of doing business in independent real estate brokerage services without a practicing certificate or an expired practice certificate as prescribed: applying the remedial measure is forcing the certificate to be issued. practice according to regulations.

- For acts of erasing or correcting the real estate brokerage practice certificate, falsifying the certificate content: forcible return of the erased or corrected practice certificate to the competent authority that issued the certificate. work.

Jewel

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