Summary of real estate business conditions in 2023:

As of March 1, 2022, individuals and organizations engaged in real estate business must establish enterprises in accordance with the laws on enterprises or cooperatives as specified in the laws on cooperatives and have a business line in real estate.

These enterprises are required to disclose on their electronic information page, at the Project Management Board's headquarters (for real estate investment projects), and at the real estate trading floor (for businesses conducting real estate transactions through trading floors) the following information:

1. Information about the enterprise, including name, main office address, contact phone number, and the name of the legal representative.
2. Information about the real estate put into business as specified in Clause 2 of Article 6 of the Real Estate Business Law.
3. Information about mortgages of houses, constructions, and real estate projects put into business (if any).
4. Information about the quantity and type of real estate products being traded, the quantity and type of real estate products already sold, transferred, leased, purchased, and the quantity and type of remaining products in business.

If there are any changes to the disclosed information, they must be promptly updated.

New condition added compared to Decree 76/2015/ND-CP:

Only allowed to do business in real estate that meets the conditions specified in Article 9 and Article 55 of the Real Estate Business Law.

Summary of 6 objects not required to establish enterprises when conducting real estate business:

1. Agencies and organizations conducting the sale of houses, constructions, or transferring land use rights due to bankruptcy, dissolution, or division as specified in the law.
2. Agencies and organizations conducting the sale, transfer, lease, or lease-purchase of real estate assets that belong to the state's property as specified in the law.
3. Credit institutions, branches of foreign banks, asset management companies of credit institutions (AMC), and Vietnam Asset Management Company (VAMC) conducting the sale of houses, constructions, or transferring land use rights, transferring mortgaged real estate projects to recover debts as specified in the law.
4. Organizations, households, individuals selling houses, constructions, or transferring land use rights according to decisions of the Court or competent state agencies when settling disputes, complaints, or denunciations.
5. Organizations, households, individuals selling, leasing, lease-purchasing houses, constructions, or transferring land use rights that are legally owned, transferred, leased, or subleased according to their legitimate rights.
6. Organizations, households, individuals selling, leasing, lease-purchasing, or transferring real estate that they have invested in construction but are not real estate investment projects for business purposes as specified in the law.

Note that the above 6 objects are not required to establish enterprises for real estate business only in the case of conducting small-scale and infrequent real estate transactions.

Decree 02/2022/ND-CP took effect from March 1, 2022, replacing Decree 76/2015/ND-CP.