Navigating the Path: Establishing a Real Estate Company in Vietnam

The real estate sector in Vietnam presents a compelling opportunity for aspiring entrepreneurs, offering the potential for substantial profit. However, the legal framework and procedures for establishing a real estate company can be complex and challenging. This comprehensive guide, from NT International Law Firm, provides a roadmap to navigate this process, empowering you to confidently embark on your entrepreneurial journey.

Navigating the Path: Establishing a Real Estate Company in Vietnam

Legal Basis for a Real Estate Company:

• Law on Real Estate Business 2014: This law establishes the fundamental framework for real estate business operations and outlines key requirements for different types of real estate companies.
• Decree No. 18/2020/ND-CP: This decree details specific regulations and procedures for establishing and operating real estate companies, including licensing requirements and capital commitments.
• Other relevant regulations: Depending on the specific activities your company intends to engage in, additional regulations from various ministries and agencies may apply.

Types of Real Estate Companies:

• Real Estate Development: Companies involved in construction, acquisition, and sale/transfer of real estate projects. Minimum legal capital of 20 billion VND applies.
• Real Estate Brokerage: Companies facilitating real estate transactions between buyers and sellers. Require at least 2 employees with real estate brokerage practice certificates.
• Real Estate Trading Floor: Companies facilitating real estate transactions through organized trading platforms. Need at least 2 employees with real estate brokerage practice certificates and a dedicated office with full operation regulations.

Conditions for Establishment:

• Legal Capital: Minimum capital requirements vary depending on the type of real estate company.
• Personnel: Specific personnel qualifications are required for brokerage and trading floor companies.
• Business Scope: Clearly define the types of real estate activities your company will undertake.

Procedures for Establishment:

Step 1: Prepare Documents:

• Application for Business Registration: Form No. 03.
• Company Charter: outlining organizational structure and operations.
• List of Members/Shareholders: depending on your chosen business structure.
• Certified Copies of Legal Documents: for all members/shareholders and authorized representatives.
• Power of Attorney: if applicable.
• Additional documents: may be required depending on your chosen activities.

Step 2: Submit Application:

• To the Business Registration Office of the Department of Planning and Investment in your chosen province/city.

Step 3: Processing and Review:

• 3 working days for the Business Registration Office to review your application and issue a business registration certificate.
• You may receive a notification if any revisions or additional documents are required.

Step 4: Receive Business Registration Certificate:

• Upon approval, you will receive your official Certificate of Business Registration.

Post-Establishment Procedures:

• Register for Electronic Signature and Tax Declaration: for convenient online tax management.
• Make and Hang Company Signs: at your headquarters.
• Register for Electronic Invoicing: for issuing official invoices for transactions.
• Open a Business Bank Account: for managing your company finances.
• Complete Other Legal Requirements: such as obtaining necessary licenses and permits.

Additional Points:

• Consult a legal professional: for accurate guidance and ensuring compliance with legal requirements.
• Specific requirements may apply: depending on your chosen business activities and location.
• Stay informed of updates: as the legal landscape may evolve over time.

Conclusion:

By understanding the legal framework, fulfilling the necessary conditions, and following the established procedures, you can confidently establish a thriving real estate company in Vietnam. Remember, seeking expert legal advice throughout the process ensures a smooth launch and empowers you to navigate the complexities of real estate business operations. With careful planning, meticulous execution, and a firm grasp of the legal environment, you can transform your entrepreneurial vision into a successful reality in the dynamic Vietnamese real estate market.

NT International Law Firm is Here to Help

NT International Law Firm has addressed the question of how you can start your own real estate company. If you have any further questions or concerns regarding corporate law, please contact our law firm immediately for expert legal advice.

If you require any legal assistance, please feel free to reach out to us via phone at 090 252 4567 or through email: info@ntpartnerlawfirm.com. At NT INTERNATIONAL LAW FIRM, our team is committed to offering you prompt and personalized advice.

You also might be interested in:

• The 2015 Civil Code in English
• The 2020 Law On Enterprises in English