Legal basis

• Law on Real estate trading 2014;
• Law on Investment 2020;
• Degree 02/2022/NĐ-CP dated 06/01/2022 on Elaboration of certain articles of the Law on real estate trading

1. Definition of Real estate trading 

According to Article 3.1 of the Law on real estate trading 2014, Real estate trading are prescribed as follows: Real estate trading means capital investment in building, purchasing, and receiving real estate for sale, for transfer, for lease, for sublease, or for lease purchase; provision of real estate brokerage services; real estate trading floor services; real estate counseling services or real estate management for profit purposes.

2. Rules for real estate trading

According to Article 4 of the Law on real estate trading 2014, rules for real estate trading are prescribed as follows:

• Contracting parties have equality before the law; freedom to conclude a contract on the basis of respect for their legitimate rights and interests provided that such agreement is not in contravention of law.
• Real estate to be put on the market must meet all the requirements prescribed in this Law.
• The real estate trading must be conducted honestly, publicly and transparently.
• Any organization or individual is entitled to conduct real estate trading in the area beyond national defense and security protection zone according to land-use planning approved by competent agencies.

3. Requirements in terms of real estate to be put on the market

According to Article 9 of the Law on real estate trading 2014, requirements in terms of real estate to be put on the market are prescribed as follows:

• A building to be put on the market shall satisfy the following requirements:
  • The ownership of the building on land is registered in the Certificate of land use right (hereinafter referred to as Certificate of land). Regarding an off-the-plan building in the real estate project, it is only required to have the Certificate of land as prescribed in regulations of law on land.
  • There is no dispute about the land and ownership of the building on land.
  • The building is not distrained.
• Types of land permitted to be put on the market shall satisfy the following requirements:
  • There are Certificates of land as prescribed in regulations of law on land.
  • There is no dispute about the land.
  • The land is not distrained;
  • The land use term is still unexpired.

4. Requirements in terms of organizations or individuals conducting real estate trading

According to Article 10 of the Law on real estate trading 2014, amended by Article 75.2.a of Law on Investment 2020, requirements in terms of organizations or individuals conducting real estate trading are prescribed as follows:

• Any organization or individual engaged in real estate business must establish an enterprise or cooperative (hereinafter referred to as “the enterprise”), except for the cases mentioned in Clause 2 of this Article.”
• Any organizations, households and individuals who conduct small-scale or irregular transactions of real estate sale, transfer, lease-out, and lease purchase shall not be required to set up enterprises, but they shall make tax declaration as prescribed.