Sending...

Conditions for foreigners to set up real estate trading companies in Vietnam

Last Updated: 12/9/2018
1. Legal grounds for carrying out procedures and guiding conditions for foreign investors to set up real estate trading companies
     - Investment Law 2014;
     - Enterprise Law 2014;
     - Business Law of Real Estate 2014;
2. Foreign investors are allowed to set up real estate trading companies in the following forms:
     - Renting the house or building for lease;
     - For land leased by the State, they shall be entitled to invest in building dwelling houses for lease; To invest in the construction of houses or construction works which are not houses for sale, lease or hire purchase;
     - To transfer all or part of the real estate project of the investor to build houses or construction works for sale, lease or hire purchase;
     - For land allocated by the State, they may invest in the construction of dwelling houses for sale, lease or lease;
     - For leased land in industrial parks, industrial clusters, export processing zones, hi-tech parks and economic zones, they shall be entitled to invest in building houses and construction works for proper use purposes.
3. Foreign investors in accordance with the Law on Investment shall include:
Individuals of foreign investors
     - Foreign investment enterprises
     - As a result, foreigners, including foreign individuals and organizations wishing to trade in real estate in Vietnam, have the right to establish the company and are allowed to conduct business in the above mentioned forms of analysis.
4. Foreign real estate business trades include
     - Trading in real estate;
     - Providing real estate brokerage services;
     - Trading real estate trading floor services.
5. Conditions for foreigners to set up real estate trading companies in Vietnam
     - Conditions for registration of real estate business;
Must have a legal capital of not less than VND 20 billion. Unlike 100% Vietnamese companies, investors only need to declare capital of VND20 billion or more, but for foreign-invested companies, foreign investors must declare capital of VND20 billion. the investor must demonstrate the financial capacity corresponding to the charter capital of the company in the following forms:
     - For foreign investors being individuals contributing investment capital:
Confirmation of the bank account balance of the investor corresponding to the charter capital of the company is 20 billion (If the foreign bank confirms that investors need to provide notarized copy, consular legalization at Vietnamese diplomatic representative offices in foreign countries);
     - For foreign investors being foreign organizations or companies contributing investment capital:
Investors should provide copies of one of the following documents:
Financial statements of the last two years of the investor; Commitment to financial support of the parent company corresponding to positive capital is 20 billion Vietnam;
Confirmed bank account balance of investors equivalent to 20 billion Vietnam.
(Foreign investors must provide certified copies of consular legalization at Vietnamese diplomatic missions in foreign countries);
     - Conditions for registration of business lines of real estate brokerage business;
Real estate brokerage enterprises must have at least 02 persons possessing real estate brokerage practice certificates; Managers and operators of real estate trading floors must have real estate brokerage practice certificates. Certified people must be Vietnamese. Accordingly, the foreign invested company shall recruit Vietnamese personnel with a practicing certificate to conduct business in accordance with the provisions of Vietnamese law.
Note: A person holding a real estate broker's certificate may be the owner of the company or employee of the company appointed to manage the business;
     - Conditions for registration of business lines of real estate trading services.
As for real estate trading services, the company must apply for the establishment of a real estate trading floor similar to that of a Vietnamese company.
     - Conditions for establishment of a real estate trading floor for a foreign-invested company
The real estate trading floor must have at least 02 people having real estate brokerage practice certificates;
Managers of real estate transaction floors must have real estate brokerage practice certificates;
Real estate trading floors must have their operation regulations, names and transaction addresses stable over 12 months. If there is any change, the Department of Construction and the client must notify the change;
Real estate trading floors must have an area of ​​at least 50m2 and technical equipment to meet the requirements of operation.
During the establishment of a foreign invested real estate company in Vietnam, foreign investors will face many difficulties in language barriers as well as the implementation of procedures at state agencies. Therefore, when you set up a foreign-invested real estate company, you can contact HD Law Firm directly to get the most enthusiastic support.

Any support you may need, please contact us today via: 0988.073.181 (Phone/WhatsApp/Viber available) or Email: doanhnghiep@hdluat.com

HD LAW CO., LTD - HD LAW LLP
Very pleased to serve customers!