Procedures for transferring entire or partial real estate projects under the approval authority of the Provincial People's Committee in Vietnam

Procedures for transferring entire or partial real estate projects under the approval authority of the Provincial People's Committee in Vietnam​ (Image from Internet)

1. Procedures for transferring entire or partial real estate projects under the approval authority of the Provincial People's Committee in Vietnam

According to Article 11 of Decree 96/2024/ND-CP detailing the procedure for transferring entire or part of a real estate project under the decision-making authority of the Provincial People's Committee in Vietnam:

- The transfer of the entire or part of a real estate project under the decision-making authority of the Provincial People's Committee is carried out in accordance with Clause 2, Article 42 of the Real Estate Business Law 2023.

- The real estate project investor shall submit one dossier consisting of the documents (copies and present the originals for comparison, or certified copies, or legally valid electronic copies) stipulated in Clauses 3, 4, Article 10 of Decree 96/2024/ND-CP to the Provincial People's Committee or the provincial state management agency in real estate business authorized by the Provincial People's Committee.

- Within 30 days from the date of receipt of a complete and valid dossier, the Provincial People's Committee is responsible for obtaining opinions from relevant local agencies and organizing the appraisal of the transfer dossier as stipulated in Clause 5, Article 11 of Decree 96/2024/ND-CP for consideration and decision. The decision form permitting the transfer shall be implemented according to the form in Appendix XIV issued with Decree 96/2024/ND-CP.

In cases where the provincial state management agency in real estate business is authorized by the Provincial People's Committee, within 30 days from receipt of a valid dossier, the provincial state management agency is responsible for obtaining opinions from relevant local agencies, organizing the appraisal of the transfer dossier as stipulated in Clause 5, Article 11 of Decree 96/2024/ND-CP, and submitting to the Provincial People's Committee for consideration and decision.

- The collection of opinions, dossier appraisal, and decision to permit the transfer of the entire or a part of a real estate project is carried out according to the provisions in Clause 3, Article 11 of Decree 96/2024/ND-CP.

- Within 15 days from the receipt of the document, opinion dossier of the Provincial People's Committee or the provincial state management agency in real estate business, the consulted agencies must provide their opinions on the contents under their assigned state management scope for the contents stipulated in Articles 4, 39, and 40 of the Real Estate Business Law 2023.

In cases where the transferee is an economic organization with foreign investment as prescribed in Clause 4, Article 10 of the Real Estate Business Law 2023 and the transfer project or part of the project is in areas such as: islands; border communes, wards, commune-level towns; coastal communes, wards, commune-level towns, and other areas affecting national defense and security according to law provisions on national defense and security, the Provincial People's Committee where the project is located must obtain opinions from the Ministry of National Defense and the Ministry of Public Security on ensuring national defense and security.

- After obtaining the decision permitting the transfer of the entire or part of a real estate project from the Provincial People's Committee, the parties are responsible for implementing the provisions in Clauses 6, 7, 8, Article 10 of Decree 96/2024/ND-CP.

2. Types of construction works and floor area in construction projects introduced to business in Vietnam

The types of construction works and floor area in construction projects introduced to business as per Article 3 of Decree 96/2024/ND-CP are as follows:

- Existing construction works and future-formed construction works introduced to business are classified in accordance with the provisions of construction law as stipulated in Clause 2, Article 5 of the Real Estate Business Law 2023.

- The floor area in construction projects introduced to business includes:

+ Floor area for commercial purposes, including: commercial pavilions, commercial plots, and other commercial purpose floor areas with different names;

+ Floor area for office purposes, including: working offices, offices combined with accommodation, and other floor areas for office purposes with different names;

+ Floor area for tourism and accommodation purposes, including: tourism apartments, accommodation apartments, and other floor areas for tourism and accommodation purposes with different names;

+ Floor area for mixed purposes and floor area for other purposes in construction projects stipulated in Clause 2, Article 5 of the Real Estate Business Law 2023.

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