Operational conditions of real estate trading floors in Vietnam from August 1, 2024
According to the Decree, a real estate trading floor shall meet the following operational conditions:
- The real estate trading floor’s operations meet the conditions prescribed in Article 55 of the Law on Real Estate Market Business 2023.
- The legal representative of the enterprise and the manager or operator of the real estate trading floor take responsibility for the operations of the real estate trading floor. The legal representative of the real estate trading floor may also be the manager or operator of the real estate trading floor.
- The real estate trading floor has a stable name and transaction address for more than 12 months and technical equipment that meets the requirements for its operations.
- The real estate trading floor takes responsibility for implementing anti-laundering measures and submitting reports on anti-laundering according to anti-laundering laws.
Operations of real estate trading floors in Vietnam from August 1, 2024
Decree No. 96/2024/ND-CP also stipulates that real estate trading floors may only operate in compliance with Article 56 of the Law on Real Estate Business 2023.
The certification of real estate transactions shall be carried out as follows:
- In-person real estate transactions shall be certified in writing. In the case of e-real estate transactions, carry out the e-certification according to the Law on E-Transactions, e-commerce laws, and relevant laws;
- A real estate transaction certificate shall bear the signatures of the representative of the enterprise, who is the project investor or owner of the real estate, representative of the real estate trading floor, real estate broker, and the seal of the enterprise, corresponding to transaction forms.
Decree No. 96/2024/ND-CP comes into force as of August 1, 2024.
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