There are many appealing industries in which foreign investors coming to Vietnam can open companies. Among these, tourism, trading, retail and real estate are some of the most important. These are also some of the economic sectors open to foreign investments.
The real estate industry in Vietnam, for example, has expanded thanks to the massive development of tourism which has attracted a great number of visitors who wanted to have their own vacation houses in the country.
If you want to open a company in the real estate sector, you can choose to set up a construction business or a real estate agency in Vietnam. Our company formation agents in Vietnam can help you set up both types of companies.
Registering a company for real estate brokerage services in Vietnam
Foreign investors who want to set up real estate agencies in Vietnam are subject to the Companies Law, but also to the Investment Act when choosing the structure for their business. If the Commercial Law provides for limited liability companies and fully foreign-owned enterprises, the Investment Act covers special business forms, such as certain types of agreements.
Once the investor has decided for the type of company, it can be registered with the Trade Register in Vietnam. With the help of our Vietnam company registration advisors, foreign investors can set up real estate agencies in accordance with local legislation.
Licensing requirement for real estate agencies in Vietnam
Real estate companies selling or renting properties to third parties must comply with the following laws:
- Law No. 65/2014 on Houses;
- Law No. 66/2014 on Trading Real Estate.
The two laws became effective in 2015 and brought certain changes with respect to the licenses which must be obtained by real estate agents in Vietnam. These must apply for real estate broker licenses with the construction department in the city they will operate in.
In order to set up a real estate agency in Vietnam, the business owner must be a certified broker and must hire at least two agents with real estate broker licenses.
For full information and assistance in opening a real estate agency in Vietnam, do not hesitate to contact our local company formation consultants. Besides guiding you on how to open a real estate agency in Vietnam, our lawyers can also guide you on other matters. Furthermore, if you require the services of an accounting firm in Vietnam, our agents are accessible to you. Building and maintaining an accounting team is undoubtedly more expensive if the company is still operating on a shoestring budget. However, the company cannot guarantee that the employees’ labor quality matches their wage costs. For affordable accounting services in Vietnam, get in touch with our agents.