Business scope of real estate counseling and management services in Vietnam

Business scope of real estate counseling and management services in Vietnam (Image from the Internet)

1. Business rules of real estate counseling and management services in Vietnam 

The Business rules of real estate counseling and management services are stipulated in Clause 1, Article 66 of the Law on Real Estate Business 2023 as follows:

- A person directly providing consulting must have degrees or certificates in the field they are consulting on;

- The real estate being managed must be legally obtained.

2. Business scope of real estate counseling and management services in Vietnam

The Business scope of real estate counseling and management services in Vietnam according to Clauses 2 and 3, Article 66 of the Law on Real Estate Business 2023 is as follows:

- The scope of real estate consulting services includes:

+ Consulting on investment creation and real estate business;

+ Consulting on real estate finance;

+ Consulting on real estate valuation;

+ Consulting on real estate business contracts.

- The scope of property management services includes:

+ Selling, transferring, renting, subleasing, lease-purchasing real estate on behalf of the owner of the house, construction works, parts of the floor area in construction works, and land users;

+ Organizing the provision of services to ensure the normal operation of the real estate;

+ Organizing the maintenance and repair of real estate;

+ Managing and supervising the exploitation and use of real estate by customers according to the contract;

+ Exercising rights and obligations to customers and the State on behalf of the owner of the house, construction works, parts of the floor area in construction works, and land users.

3. Eligibility requirements to be satisfied by organizations and individuals providing real estate counseling and management services in Vietnam

The Eligibility requirements to be satisfied by organizations and individuals providing real estate counseling and management services in Vietnam according to Article 67 of the Law on Real Estate Business 2023 are as follows:

- Organizations and individuals providing real estate consulting services and property management services must establish a real estate business in accordance with the provisions of Clause 5, Article 9 of the Law on Real Estate Business 2023. In the case of providing services for managing apartment buildings, mixed-use buildings with housing, they must meet the conditions stipulated by the housing law.

- Prior to commencing operations, the real estate consulting service business must submit information about the company to the provincial real estate business management agency where the company is established. This information must be posted on the housing and real estate market information system as stipulated by the Law on Real Estate Business 2023.

4. Conditions for transfer of entire or partial real estate project in Vietnam

The conditions for transfer of entire or partial real estate project in Vietnam, according to Article 40 of the Law on Real Estate Business 2023, are as follows:

- The real estate project being transferred must meet the following conditions:

+ The project has obtained an investment policy decision, investment policy approval, or investment approval from a competent state agency; the investor has been selected or recognized if the project requires such recognition procedures;

+ The project has a detailed plan approved according to the construction law and urban planning law;

+ The project or project part being transferred has completed compensation, support, and resettlement. In the case of transferring an entire infrastructure construction investment project, technical infrastructure works must be constructed according to the approved schedule, design, and detailed plan under the construction law, urban planning law, and approved project content under the construction law;

+ The land use rights of the project or project part being transferred are not involved in a dispute currently being notified, accepted, or resolved by a competent authority, or are resolved through a legally effective judgment, decision, or award. The land is not subject to enforcement for judgment execution; not involved in transactions prohibited by law. The transaction is not under temporary or permanent suspension as per the law;

+ The project is not suspended, terminated, or subject to land revocation by a competent state agency. If the project or project part being transferred has administrative violation penalties, the investor must comply with the administrative violation decision by the competent state agency as per the administrative violation handling law;

+ In the case of a mortgaged project for securing performance under law, it must be released from mortgage;

+ The project is still within the implementation period;

+ For partial real estate project transfers, the construction items or the purpose of use, business of construction items of the transferred project part must be able to be independent from other project parts in the project.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE