Question

Law on Real Estate Trading in Vietnam No. 66/2014/QH13 dated November 25, 2014 took effect on July 01, 2015 (replaced the Law on Real Estate Trading No. 63/2006/QH11 dated June 29, 2006).

Answer

Law on Real Estate Trading in Vietnam 

This Law contains new provisions in respect of real estate trading, such as:

Organizations, individuals wish to conduct real estate trading shall set up enterprises or co-operatives and have legal capital not less than VND 20 billion (Article 10);

Before the real estate project investors sell or lease purchase off-the-plan buildings, the investors’ financial obligations towards their clients must be guaranteed by a competent commercial bank in case the investors fail to hand over the houses, the buildings on the committed schedule; the State bank of Vietnam shall publicly announce the list of commercial banks that are eligible to guarantee in the off-the-plan real estate trading; in case investors fail to hand over the residential houses on schedule as committed and at the request of the buyer or the lessee, the guarantor is liable to refund clients their advance and any other payments made to investors under the agreement on housing sale or lease purchase and signed guarantee agreement (Article 56). 

DMS Law firm’s services:

Law on Real Estate Trading in Vietnam

Attorneys and experts at DMS Law office in Danang, Vietnam have +20 years of work experience in management consulting from small, medium companies to large groups, corporations, foreign invested companies in Vietnam, multinational companies in Vietnam.

DMS Lawyers and Members in Danang, Vietnam have an in-depth understanding of Law on Real Estate Trading and related laws, such as: Law on Construction, Law on Land, Law on Housing, Law on Bidding and specialized laws applicable to different entities./.

Contact us:

Phone: 0914 165 703 

Email: dmslawfirm@gmail.com 

DMS LAW LLC

Director

(Signed)

Lawyer Do Minh Son