Decree 02/2022/ND-CP detailing a number of articles of the Law on Real Estate Business

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ATTRIBUTE

Decree No. 02/2022/ND-CP dated January 06, 2022 of the Government detailing a number of articles of the Law on Real Estate Business
Issuing body: GovernmentEffective date:
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Official number:02/2022/ND-CPSigner:Le Van Thanh
Type:DecreeExpiry date:Updating
Issuing date:06/01/2022Effect status:
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Fields:Land - Housing , Natural Resources - Environment

SUMMARY

The investor’s equity is not less than 20% of total investment capital for a project using under 20 hectares of land

This is a remarkable content specified in the Government’s Decree No. 02/2022/ND-CP detailing a number of articles of the Law on Real Estate Business dated January 06, 2022.

Before, organizations and individuals doing real estate business shall establish enterprises in accordance with the law on enterprises or establish cooperatives in accordance with the law on cooperatives and must have a legal capital of at least VND 20 billion.

According to the new regulations, in case an investor is selected as the project owner of a real estate project in accordance with law regulations, the equity of such investor is not less than 20% of the total investment capital for a project using less than 20 hectares of land, not less than 15% of the total investment capital for projects using 20 hectares of land or more.

The determination of the equity is based on the results of the latest audited financial statement or the results of the independent audit report (in the year of determination or the year preceding the year of determination) of an operating enterprise; For a newly established enterprise, the equity shall be determined according to the actual contributed charter capital in accordance with law regulations.

This Decree takes effect on March 01, 2022.

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TTXVN

THE GOVERNMENT

 

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

No. 02/2022/ND-CP

 

Hanoi, January 6, 2022

 

DECREE

Detailing a number of articles of the Law on Real Estate Business[1]

 

Pursuant to the June 19, 2015 Law on Organization of the Government; and the November 22, 2019 Law Amending and Supplementing a Number of Articles of the Law on Organization of the Government and the Law on Organization of Local Administration;

Pursuant to November 29, 2013 Law on Land;

Pursuant to the November 25, 2014 Law on Real Estate Business;

Pursuant to the November 25, 2014 Housing Law;

Pursuant to the June 17, 2020 Law on Investment;

At the proposal of the Minister of Construction;

The Government promulgates the Decree detailing a number of articles of the Law on Real Estate Business.

 

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree details a number of articles and clauses of the Law on Real Estate Business, including provisions on conditions on organizations and individuals engaged in real estate business; real estate business contract forms; transfer of contracts on hire-purchase of ready-built houses and construction works; transfer of contracts on sale and purchase or hire-purchase of future houses; and procedures for transfer of the whole or part of real estate projects.

Article 2. Subjects of application

1. Organizations and individuals engaged in real estate business in Vietnam.

2. Agencies, organizations, households and individuals involved in real estate business in Vietnam.

Article 3. Interpretation of terms

In this Decree, the terms below are construed as follows:

1. Real estate put into commercial operation means all types of land-attached houses and construction works and types of land over which land use rights may be transferred, leased or subleased under Article 5 of the 2014 Law on Real Estate Business (below referred to as the Law on Real Estate Business).

2. Real estate project means a work construction investment project that is formulated, appraised and approved in accordance with the law on construction. Real estate projects include investment projects on construction of houses and construction works; investment project on construction of infrastructure facilities for transfer or lease of land use rights in accordance with law.

3. Real estate business contract means a written agreement made according to a set form provided in this Decree between an enterprise or a cooperative that fully satisfies the conditions for doing real estate business as specified in Article 4 of this Decree and an organization, a household or an individual on the establishment, change or termination of rights and obligations in sale and purchase, lease, or hire-purchase of houses and construction works, transfer, lease or sublease of land use rights, and transfer of the whole or part of a real estate project.

4. Transfer of the whole of a real estate project means transfer by the project owner of the whole of a real estate project as well as rights, obligations and legitimate interests of the owner and related parties (if any) of such project to the transferee under a written contract made under this Decree and approved by a competent
state agency.

5. Transfer of part of a real estate project means transfer by the project owner of part of a real estate project that is permitted for commercial operation as well as the rights, obligations and legitimate interests of the owner and related parties (if any) of such part to the transferee under a written contract made under this Decree and approved by a competent state agency. 

6. Transfer of a contract on sale and purchase or hire-purchase of a house or construction work means transfer by a purchaser or hirer of its/his/her entire rights, responsibilities and obligations under the contract on sale and purchase or hire-purchase of the house or construction work to another organization or individual under a contract transfer document made under this Decree.

 

Chapter II

SPECIFIC PROVISIONS

Section 1

CONDITIONS FOR DOING REAL ESTATE BUSINESS

Article 4. Conditions on organizations and individuals engaged in real estate business

1. Organizations and individuals engaged in real estate business must fully satisfy the following conditions:

a/ To establish enterprises in accordance with the law on enterprises or establish cooperatives in accordance with the law on cooperatives, which have the real estate business line (below collectively referred to as enterprises);

a/ To publicize on their enterprises’ websites, at head offices of project management boards (for real estate business investment projects); and on real estate trading floors (for those conducting business via real estate trading floors) information on their enterprises (including name, address of the head office, contact phone number, and name of the at-law representative), information on real estate put into commercial operation specified in Clause 2, Article 6 of the Law on Real Estate Business, information on mortgage of houses, construction works and real estate projects put into commercial operation (if any), information on quantity and types of real estate products put into commercial operation, quantity and types of real estate products sold, transferred, hire-purchased, and remaining quantity and types of real estate products available for trading.

Any change in information publicized under this Point shall be promptly updated;

c/ Only real estate items satisfying the conditions specified in Articles 9 and 55 of the Law on Real Estate Business may be put into commercial operation.

2. Investors selected to be real estate project owners in accordance with law must have an equity not lower than 20% of the total project investment capital amount, for projects with a land use area of under 20 ha, or an equity not lower than 15% of the total project investment capital amount, for projects with a land use area of at least 20 ha. When conducting real estate business activities, project owners must satisfy the conditions specified in Clause 1 of this Article.

The determination of equity specified in this Clause must be based on the latest audited financial statement or independent audit report of the operating enterprise (made in the year or the preceding year). Equity of a newly established enterprise may be determined based on the charter capital actually contributed in accordance with law.

Article 5. Organizations, households and individuals that sell, transfer, lease or put for hire-purchase real estate items on a small scale and in an irregular manner

Organizations, households and individuals that sell, transfer, lease or put for hire-purchase the real estate items specified in Clause 2, Article 10 of the Law on Real Estate Business in an irregular manner and are not required to satisfy the conditions specified in Article 4 of this Decree include:

1. Agencies and organizations that sell houses and construction works or transfer their land use rights due to bankruptcy, dissolution or division in accordance with law.

2. Agencies and organizations that sell, transfer, lease or put for hire-purchase real estate items being public assets in accordance with law.

3. Credit institutions, foreign bank branches, the Asset Management Company (AMC), and the Vietnam Asset Management Company (VAMC) that sell houses and construction works, transfer their land use rights, or transfer real estate projects currently used as guarantee or mortgage in order to collect debts in accordance with law.

4. Organizations, households and individuals that sell houses and construction works or transfer their land use rights under rulings of courts or decisions of competent state agencies upon settlement of disputes, complaints or denunciations.

5. Organizations, households and individuals that sell, lease or put for hire-purchase their houses and construction works under their lawful ownership, or transfer, lease or sublease their lawful land use rights.

6.  Organizations, households and individuals that sell, lease, put for hire-purchase or transfer real estate items constructed by themselves not under investment projects on construction of real estate for commercial purposes in accordance with law.

 

Section 2

REAL ESTATE BUSINESS CONTRACTS AND TRANSFER THEREOF

Article 6. Real estate business contracts

1. The sale, transfer, lease, put for hire-purchase and sublease of real estate items and transfer of real estate projects shall be carried out under contracts made according to the following forms:

1. For contracts on sale and purchase or hire-purchase of condominium apartments, Form No. 01 provided in the Appendix to this Decree.

2. For contracts on sale and purchase or hire-purchase of condotels or officetels, Form No. 02 provided in the Appendix to this Decree.

3. For contracts on sale and purchase or hire-purchase of separate houses, Form No. 03 provided in the Appendix to this Decree.

4. For contracts on sale and purchase or hire-purchase of other houses or construction works other than those specified in Clauses 1, 2 and 3 of this Article, Form No. 04 provided in the Appendix to this Decree.

5. For house or construction work lease contracts, Form No. 05 provided in the Appendix to this Decree.

6. For contracts on transfer of land use rights, Form No. 06 provided in the Appendix to this Decree.

7. For contracts on lease or sublease of land use rights, Form No. 07 provided in the Appendix to this Decree.

8. For contracts on transfer of the whole (or part) of real estate projects, Form No. 08 provided in the Appendix to this Decree.

Article 7. Conditions on transfer of contracts on sale and purchase or hire-purchase of future houses or transfer of contracts on hire-purchase of ready-built houses and construction works

1. The transfer of contracts on sale and purchase or hire-purchase of future houses  and contracts on hire-purchase of ready-built houses and construction works are not applicable to contracts on sale and purchase or hire-purchase of social houses.

2. The transfer of contracts on sale and purchase or hire-purchase of houses and construction works must satisfy the following conditions:

a/ The parties enter into sale and purchase or hire-purchase contracts made under Article 6 of this Decree; in case the parties enter into contracts before the effective date of this Decree, their signed contracts must be presented;

b/ Dossiers of application for certificates of land use rights and ownership of houses and other land-attached assets by competent state agencies (below referred to as certificates) have not yet been submitted to competent state agencies;

c/ Contracts on sale and purchase or hire-purchase of houses and construction works are not subject to any disputes or lawsuits;

d/ Houses or construction works under contracts on sale and purchase or hire-purchase are not subject to distraint or mortgage to secure the performance of obligations in accordance with law, except otherwise agreed by the mortgagee.

3. The transfer of contracts on sale and purchase or hire-purchase of houses or construction works must be effected for the whole contracts. In case of a contract on sale and purchase or hire-purchase of more than one house or construction work where contracting parties wish to transfer separate house or construction work, the transferor must reach an agreement with the project owner for modification of the signed contract, or sign a contract annex before transferring the contract under this Decree.

Article 8. Order and procedures for transfer of contracts on sale and purchase or hire-purchase of future houses or transfer of contracts on hire-purchase of ready-built houses and construction works

1. Order and procedures for transfer of contracts on sale and purchase of future houses must comply with the law on housing.

2. Order and procedures for transfer of contracts on hire-purchase of future houses or transfer of contracts on hire-purchase of ready-built houses and construction works shall be carried out as follows:

a/ The transferor and transferee shall reach consensus on formulating a contract transfer document made according to Form No. 09 provided in the Appendix to this Decree.

Such a document shall be made in 6 originals (2 originals to be kept by the project owner, 1 to be submitted to the tax office, 1 to be submitted to the agency receiving the dossier for application of the certificate, 1 to be kept by the transferor, and 1 to be kept by the transferee). When it is necessary to notarize the contract transfer document, an additional original is required to be kept by the notarial practice organization.

If the transferor is an enterprise having the real estate business line, the notarization of the contract transfer document is not required, unless otherwise requested by contracting parties;

b/ One of the contracting parties shall submit a dossier of request for certification of the contract transfer document to a notarial practice organization. Such a dossier must comprise: Originals of the contract transfer document; the original contract signed for the first time with the project owner, in case of transfer of one or more than one house or construction work from the total number of houses or construction works hire-purchased under the contract, the original contract or contract annex signed with the project owner on the transferred house(s) or construction work(s) is required; papers proving the money amount paid by the transferor to the project owner; the original or a certified true copy of the handover record of the house(s) or construction work(s) (if any), and other papers as specified by the law on notarization;

c/ Upon the notarization (except the case not subject to notarization), the transferor shall pay taxes, charges and fees related to the contract transfer in accordance with law;

d/ After fulfilling the requirement specified at Point c of this Clause, one of the parties shall send a dossier of request for certification of contract transfer to the project owner, which must comprise 6 originals of the contract transfer document enclosed with the original contract. In case of transfer of one or more than one house or construction work from the total number of houses or construction works hire-purchased under the contract, the original contract or a contract annex signed with the project owner on the transferred house(s) or construction work(s) is required; and papers proving tax fulfillment or tax exemption in accordance with the law on taxes;

dd/ Within 5 working days after receiving the papers specified at Point d of this Clause, the real estate project owner shall consider and certify the contract transfer document, and may not collect any charge. After certifying the document, the project owner shall keep 2 originals of the contract transfer document and return to the sender 4 originals, enclosed with received papers specified at Point d of this Clause;

e/ From the date the contract transfer document is certified by the project owner, the transferee may continue performing rights and obligations of a hire-purchaser with the project owner under the signed contract and the contract transfer document;

g/ Cases of contract transfer from the second time onward must comply with the procedures specified in this Article, and the transferor shall submit adequate dossiers of the previous transfers when carrying out procedures for the transfer;

h/ The last transferee shall be granted a certificate by the competent state agency in accordance with the land law.

3. Real estate enterprises being transferees shall, within 5 working days from the date of completion of transfer receipt specified at Point dd, Clause 2 of this Article, send a notice on receipt of contract transfer (stating the name and address of the real estate project, name of the enterprise being the transferor, quantity of contracts, quantity of houses and construction works under the transfer contract) to the housing management agency of the central level for summarization and monitoring.

Section 3

TRANSFER OF THE WHOLE OR PART OF REAL ESTATE PROJECTS

Article 9. Principles of transfer of the whole or part of real estate projects

1. The transfer of the whole or part of a real estate project may be carried out when the conditions specified in Article 49 of the Law on Real Estate Business are fully satisfied and in case the project is implemented under the approved schedule and contents.

2. The transfer of the whole or part of the following real estate projects shall be carried out in accordance with the law on investment:

a/ Real estate projects of which investors are approved in accordance with the 2020 Law on Investment;

b/ Real estate projects granted investment registration certificates in accordance with the 2020 Law on Investment.

3. The transfer of real estate projects other than those specified in Clause 2 of this Article must comply with the Law on Real Estate Business and this Decree.

Article 10. Dossiers for transfer of the whole or part of real estate projects

1. The project owner’s dossier of request for transfer of the whole or part of a real estate project must comprise:

a/ A written request for transfer of the whole or part of the real estate project, made according to Form No. 10 provided in the Appendix to this Decree;

b/ A draft contract on transfer of the whole or part of the real estate project as specified in Article 6 of this Decree;

c/ Papers on transferred real estate projects (copies and presented originals for collation, or notarized or certified true copies upon dossier submission), including: The competent state agency’s decision on or approval of investment policy, or written permission for or written approval of investment; the project approval decision; a detailed plan of 1:500 scale or general site plan; a paper proving the completion of project ground clearance; a paper proving the completion of investment in construction of technical infrastructure facilities according to the schedule stated in the project document (in case of transfer of the whole of the infrastructure construction investment project); and the project’s certificate;

d/ A report on the implementation of the real estate project by the time of transfer, made according to Form No. 12 provided in the Appendix to this Decree.

2. The transferee’s dossier for transfer of the whole or part of a real estate project must comprise:

a/ A written request for receipt of the whole or part of the project, made according to Form No. 11 provided in the Appendix to this Decree;

b/ The enterprise registration certificate or investment registration certificate or a paper proving the establishment of the organization (a copy together with the original for collation or a notarized or certified true copy upon the dossier submission);

c/ The paper proving the transferee’s financial capacity; paper proving the transferee’s mobilized capital sources (if any) in accordance with law to ensure the project is further implemented in conformity with the schedule approved by the competent agency. For a real estate enterprise being the transferee, a paper proving its financial capacity specified in Clause 2, Article 4 of this Decree is required.

Article 11. Procedures for transfer of the whole or part of real estate projects in which investment is decided by provincial-level People’s Committees (in the form of investment policy decision, investment decision or investment approval document)

1. A project owner shall submit 1 dossier specified in Article 10 of this Decree by hand-delivery or by post to the provincial-level People’s Committee of the locality where the project is located or to the provincial-level housing management agency (if it is authorized by the provincial-level People’s Committee).

2. The agency assigned to assume the prime responsibility for appraisal of the dossier shall solicit appraising opinions and appraise the dossier under Article 13 of this Decree; and submit them to the provincial-level People’s Committee for consideration and issuance of a decision permitting the transfer. A decision permitting the transfer shall be made according to Form No. 13 provided in the Appendix to this Decree. The time limit for solicitation of appraising opinions, appraisal and issuance of a decision permitting the transfer is 30 days from the date of receipt of the complete and valid dossier. In case the dossier has insufficient papers as required, the project owner shall supplement the dossier under regulations. The period of dossier supplementation is not counted into the settlement period.

In case the whole or part of the real estate project is ineligible for transfer, the dossier-receiving agency shall notify such in writing to the project owner, clearly stating the reason.

3. Within 30 days after obtaining a decision permitting the transfer of the whole or part of the real estate project, the transferor and transferee shall complete the signing of the transfer contract, made according to Form No. 08 provided in the Appendix to this Decree, and complete the handover of the whole or part of the project. The contract on transfer of the whole or part of the real estate project is also the contract on transfer of land use rights of the whole or part of such project, except the case of land rent with annual land rental payment.

4. After signing the transfer contract, parties shall pay taxes and charges in accordance with law. The transferor shall hand over to the transferee all the dossier related to the whole or part of the project. The handover shall be recorded in writing, bearing signatures of the parties. The transferee shall continue implementing the whole or part of the project immediately after the fulfillment of its tax and charge payment obligation and receipt of the transferred project.

5. At least 15 days before carrying out handover procedures, the transferor shall notify in writing the transfer of the whole or part of the project to all customers and related parties (if any) and announce the transfer on at least 3 consecutive issues of a local newspaper or on a local or central television. If customers or related parties raise their opinions on their interests related to the whole or part of the transferred project, the transferor shall respond to such opinions in accordance with law before carrying out the handover procedures.

6. After signing the transfer contract, for transfer of the whole or part of the project attached with land use rights, the parties shall carry out procedures for registration of land change in accordance with the land law. In case of transfer of the whole or part of the project attached with leased land with annual land rental payment, one of the parties shall request the competent agency to recover land for subsequent lease in accordance with the land law.

7. Provincial-level People’s Committees shall publicize decisions permitting the transfer of the whole or part of real estate projects on their portals and portals of provincial-level housing management agencies of localities where such projects are located, and send such decisions to the Ministry of Construction for summarization and monitoring; transferors and transferees shall publicize such decisions on their websites.

Article 12. Procedures for transfer of the whole or part of projects in which investment is decided by the Prime Minister (in the form of investment policy decision, investment decision or investment approval document)

1. A real estate project owner shall hand deliver or send by post 1 dossier of request for transfer of the whole or part of the project under Article 10 of this Decree to the provincial-level People’s Committee of the locality where the project is located.

2. Within 45 days after receiving a complete and valid dossier, the provincial-level People’s Committee shall solicit appraising opinions of related ministries and sectors under Article 13 of this Decree for reporting to the Prime Minister for consideration and decision. In case the whole or part of the project is ineligible for transfer, the provincial-level People’s Committee shall notify such in writing to the project owner, clearly stating the reason.

3. After obtaining the Prime Minister’s decision permitting the transfer, the parties shall comply with Clauses 3, 4, 5 and 6, Article 11 of this Decree.

4. The provincial-level People’s Committee of the locality where the whole or part of the transferred project is located shall comply with Clause 7, Article 11 of this Decree.

Article 13. Solicitation of opinions on, and appraisal of, dossiers on transfer of the whole or part of real estate projects

1. The appraising agency defined in Articles 11 and 12 of this Decree shall hand deliver or send by post 1 dossier of request for transfer of the whole or part of a real estate project specified in Article 10 of this Decree to related agencies for solicitation of their written opinions on the transfer as follows:

a/ For case of transfer of the whole or part of a real estate project specified in Article 11 of this Decree, the appraising agency shall solicit appraising opinions of local agencies related to the whole or part of the transferred project. The time limit for sending the dossier and obtaining appraising opinions of related agencies is 15 days from the date of receiving the complete and valid dossier;

b/ For case of transfer of the whole or part of a real estate project subject to approval by the Prime Minister, the provincial-level People’s Committee shall solicit appraising opinions of the Ministry of Construction and ministries and sectors related to the whole or part of the transferred project. The time limit for sending the dossier and obtaining appraising opinions of ministries and sectors is 25 days from the date of receipt of the complete and valid dossier;

c/ In case the transferee is a foreign-invested enterprise, and the whole or part of the transferred project is located in a border commune, ward or township, a coastal area or on an island, the appraising agency shall also solicit appraising opinions of the Ministry of National Defense and Ministry of Public Security to ensure national defense and security.

2. The appraisal of a dossier of request for transfer of the whole or part of a real estate project must cover:

a/ The compliance with principles on business operation, transfer of real estate and real estate projects, and observance of prohibited acts specified in Articles 4, 8, and 48 of the Law on Real Estate Business and this Decree;

b/ Papers in the dossier of request for transfer specified in Article 10 of this Decree;

c/ Conditions on the transferred real estate project or part thereof specified in Clause 1, Article 49 of the Law on Real Estate Business. In case the transferor or transferee of the project is a state enterprise, additional conditions must be determined in accordance with the law on management and use of state capital invested in production and business at enterprises;

d/ Conditions on the transferor and transferee specified in Clauses 2 and 3, Article 49 of the Law on Real Estate Business and Article 4 of this Decree;

dd/ Rights and obligations of the transferor and transferee specified in Article 52 of the Law on Real Estate Business and the lawful rights and interests of related parties (if any).

3. Based on appraising opinions of related agencies as specified in Clause 1 of this Article on appraisal contents specified in Clause 2 of this Article and opinions of the Ministry of National Defense and the Ministry of Public Security (if any), the appraisal agency shall report them to the competent agency for consideration and decision on grant of permission for the transfer of the whole or part of the project under Article 11 or Article 12 of this Decree.

Chapter III

IMPLEMENTATION PROVISIONS

Article 14. Transitional provisions

1. Real estate business contracts signed before the effective date of this Decree will not be required be signed again in accordance this Decree, unless the signing of other contracts is agreed upon by contracting parties.

2. In case parties have been carrying out procedures for signing a contract on purchase and sale or hire-purchase of a house or construction work, but by the effective date of this Decree they have not yet signed the contract, then they shall sign the contract under this Decree.

3. In case parties have been carrying out procedures for transfer of a contract on hire-purchase of a future house, transfer of a hire-purchase contract of a ready-built house or construction work, but by the effective date of this Decree they have not yet completed the transfer procedures, then they may continue to carry out the remaining procedures under this Decree.

4. In case parties have been carrying out procedures for transfer of the whole or part of a real estate project, but by the effective date of this Decree they have not yet signed a transfer contract though they have obtained the competent authority’s decision permitting the transfer, then they shall sign the contract under this Decree.

5. In case parties have submitted a dossier of request for transfer of the whole or part of a real estate project by the effective date of this Decree, and has not yet obtained the competent authority’s decision permitting the transfer, the parties are not required to carry out previous procedures but shall complete uncompleted dossiers under this Decree (if necessary) for the competent authority’s consideration and decision under this Decree.

6. Enterprises and cooperatives currently engaged in real estate business must fully satisfy the conditions specified in Article 4 of this Decree within 6 months from the effective date of this Decree. Past the time limit specified in this Decree, if failing to fully satisfy the specified conditions, they may not conduct real estate business under this Decree and related laws.

7. In case a Vietnamese citizen has been granted a chip-based ID card and personal identification number in accordance with the Law on Citizen Identification, and the national population database, investment registration database and enterprise registration database have been connected and operated, these databases can be referred to as a substitute for personal identification papers (household registration, people’s ID card, passport and other personal identification papers) when carrying out procedures related to real estate and housing business in accordance with the law on real estate business and housing law.

Article 15. Implementation responsibility

1. The Ministry of Construction shall:

a/ Guide, monitor and urge the implementation of the Law on Real Estate Business and this Decree;

b/ Participate in the appraisal of the transfer of the whole or part of real estate projects in accordance with this Decree and related laws;

c/ Assume the prime responsibility for, and coordinate with related agencies in, studying and promulgating according to their competence, or submitting to competent authorities for promulgation, legal documents on real estate business;

d/ Assume the prime responsibility for, or coordinate with related agencies in, inspecting, examining and handling violations in the field of real estate business in accordance with law;

dd/ Perform other tasks specified in the Law on Real Estate Business, this Decree or as assigned by the Government or Prime Minister.

2. Related ministries and sectors shall guide, urge and organize the implementation of the Law on Real Estate Business and this Decree within the ambit of their management scope, functions and assigned tasks.

3. Provincial-level People’s Committees shall:

a/ Organize and direct the implementation of the Law on Real Estate Business and this Decree in their localities; direct local housing management agencies and related agencies in inspecting the signing of real estate business contracts in their localities under this Decree;

b/ Decide to permit the transfer of the whole or part of real estate projects under this Decree; assume the prime responsibility for appraising and submitting dossiers of request for transfer of the whole or part of real estate projects falling under the Prime Minister’s competence.

c/ Organize or direct the inspection, examination and handling of violations in the field of real estate business according to their competence and provisions of law;

d/ Report to the Ministry of Construction on the practical state of real estate business and the real estate market in their localities on a biannual basis or upon extraordinary requests for the Ministry of Construction to summarize and report it to the Government and Prime Minister;

dd/ Perform other tasks as specified in the Law on Real Estate Business, this Decree or as assigned by the Government or Prime Minister.

Article 16. Effect

1. This Decree takes effect on March 1, 2022.

2. This Decree replaces the Government’s Decree No. 76/2015/ND-CP of September 10, 2015, detailing a number of articles of the Law on Real Estate Business.

3. From the effective date of this Decree, regulations on conditions on organizations and individuals engaged in real estate business, preparation and signing of real estate business contracts, and the transfer of contracts on purchase and sale or hire-purchase of future houses, hire-purchase of ready-built houses and construction works, transfer of the whole or part of real estate projects specified in the Government’s Decrees, Prime Minister’s Decisions, and legal documents promulgated by ministries, sectors and provincial-level People’s Committees before the effective date of this Decree that have contents falling within the scope of regulation of this Decree must be compliant with this Decree.

4. Ministers, heads of the ministerial-level agencies, heads of government-attached agencies, and chairpersons of provincial-level People’s Committees shall implement this Decree.-

On behalf of the Government
For the Prime Minister
Deputy Prime Minister
LE VAN THANH


[1] Công Báo Nos 115-116 (20/01/2022)

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