Two real estate leasing cases should be not applied for registration of real estate business in Vietnam

Two real estate leasing cases should be not applied for registration of real estate business in Vietnam as per Official Dispatch No. 64/BXD-QLN dated 07 November.2013 of the Ministry of Construction of Vietnam on real estate business under laws.

Post date: 03-12-2013

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Opinions of the Ministry of Construction about two real estate leasing cases which are not subject to the registration of the real estate business in Vietnam as per Official Dispatch No. 64/BXD-QLN dated 07 November 2013 as follows:

1. As defined in Clause 2, Article 4 and paragraph 1 of Article 8 of the Law on the real estate business, only organizations and individuals who make the capital investment to create, purchase, transfer, lease, hire purchase real estate for sale, transfer, lease, sublease, lease purchase to attain profitable aim shall establish their enterprises or cooperatives, must have legal capital and apply for registration of real estate business in accordance with law.

2. The following two real estate leasing cases are not established or apply for registration of real estate business:

Factory has trouble or excess area

Factory has trouble or excess area

a) The organizations and individuals built factories for manufacturing business, but have trouble or excess area and lease this workshop area. As organizations and individuals who lease premises must be responsible for the implementation of obligations under the tax laws for leasing operations.

Legally established house

Legally established house

b) Individuals who meet the conditions stipulated in Article 92 of the Housing Laws shall be entitled to rent their house being legally established in accordance with the provisions of Article 21 and Article 93 of the Housing Laws. The individuals who rent house are responsible for the implementation of obligations under the tax laws for rental operations.

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