Decree No. 96/2024/ND-CP detailing certain provisions of the Law on Real Estate Business

DECREE

Detailed regulations on certain provisions of the Law on Real Estate Business

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Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing Certain Provisions of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on Real Estate Business dated November 28, 2023;

Pursuant to the Law Amending and Supplementing Certain Provisions of the Land Law No. 31/2024/QH15, the Housing Law No. 27/2023/QH15, the Law on Real Estate Business No. 29/2023/QH15, and the Law on Credit Institutions No. 32/2024/QH15 dated June 29, 2024;

At the proposal of the Minister of Construction;

The Government issues this Decree detailing certain provisions of the Law on Real Estate Business.

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Decree details certain provisions of the Law on Real Estate Business dated November 28, 2023 (hereinafter referred to as the Law on Real Estate Business), including:

Clause 2 and Clause 3 of Article 5 regarding construction works serving educational, healthcare, sports, cultural, office, commercial, service, tourism, accommodation, industrial purposes, and mixed-use construction works; concerning the floor area of construction works.

Article 6 on publicizing information about real estate and real estate projects for business.

Point b and Point c of Clause 2, Clause 3, and Clause 4 of Article 9 regarding the ratio of credit debt and corporate bond debt to the equity capital of real estate businesses; the equity capital of real estate businesses; small-scale real estate business.

Clause 4 of Article 24 on notifying the competent state management agency at the provincial level of housing units meeting the conditions for sale or lease purchase by the project investor.

Clause 7 of Article 31 on notifying the competent state management agency at the provincial level of land use rights with infrastructure in real estate projects meeting the conditions for transfer by the project investor.

Article 42 on procedures for transferring all or part of a real estate project.

Clause 1 of Article 44 on model contracts in real estate business.

Article 52 on procedures, formalities, and documents for transferring real estate business contracts.

Clause 3 of Article 54 on real estate trading floors which must submit documents to the competent state management agency at the provincial level where the main office of the real estate trading floor is located to obtain an operating permit before commencing operations.

Article 55 on conditions for operating real estate trading floors.

Article 56 on activities of real estate trading floors.

Article 60 on managing the activities of real estate trading floors.

Point b of Clause 1 of Article 61 on physical and technical facilities that organizations and individuals engaged in real estate brokerage services must meet.

Clause 3 of Article 70 on organizing examinations and issuing real estate brokerage licenses.

Clause 1 of Article 79 on the Ministry of Construction taking the lead and coordinating with relevant ministries, agencies, and provincial people's committees to study and propose measures to regulate the real estate market as stipulated in Article 78 of the Law on Real Estate Business.

Foreign organizations, foreign individuals, and overseas Vietnamese who are not Vietnamese citizens may lease housing in accordance with the laws on housing.

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

2. Agencies, organizations, and individuals related to real estate business in Vietnam.

Chapter II

REAL ESTATE BUSINESS WITH READY REAL ESTATE

AND REAL ESTATE BUSINESS FORMING IN THE FUTURE

Article 3. Types of construction projects and floor area of construction projects put into business operation

1. Existing construction projects and future construction projects put into business operation as prescribed in Clause 2, Article 5 of the Law on Real Estate Business shall be classified according to the provisions of the Construction Law.

2. The floor area of construction projects put into business operation includes:

a) Floor area with functions serving commercial purposes, including: commercial stalls, commercial lots, and other parts of the floor area with functions serving commercial purposes under different names;

b) Floor area with functions serving office purposes, including: offices for work, combined work and stay offices, and other parts of the floor area with functions serving office purposes under different names;

c) Floor area with functions serving tourism and accommodation purposes, including: tourist apartments, accommodation apartments, and other parts of the floor area with functions serving tourism and accommodation purposes under different names;

d) Floor area with functions serving mixed purposes and other purposes as prescribed in Clause 2, Article 5 of the Law on Real Estate Business.

1. Time of disclosure: A real estate business enterprise must disclose all information as prescribed in Article 6 of the Law on Real Estate Business before signing contracts for selling, transferring, leasing, or leasing with purchase option of real estate, or transferring real estate projects.

2. Content of disclosed information is implemented according to the provisions of Clauses 2, 3, 4, and 5 of Article 6 of the Law on Real Estate Business; information at point c of Clause 2 and points b and d of Clause 3 of Article 6 of the Law on Real Estate Business are the following documents:

a) Decision approving detailed planning or decision approving overall layout planning of real estate projects by competent state agencies as prescribed by laws on construction and urban planning;

b) Notification of results of feasibility study report review for investment construction or Notification of results of basic design review by competent state agencies as prescribed by laws on construction;

c) Commitment document for issuance of guarantee as prescribed in Clause 2, Article 26 of the Law on Real Estate Business by domestic commercial banks or foreign bank branches legally operating in Vietnam.

4. Disclosure of information on the housing and real estate market information system is carried out in accordance with the provisions of the Decree detailing some articles of the Law on Real Estate Business regarding construction and management of the housing and real estate market information system and database.

5. Real estate business enterprises are responsible for updating disclosed information within five working days from the date of change in the information.

Article 5. The ratio of credit debt and corporate bond debt to the charter capital of real estate trading enterprises

1. Real estate trading enterprises shall base on their charter capital, investment plans, and business decisions to determine the amount of loans from credit institutions and issuance of corporate bonds, as well as the ratio of credit debt and corporate bond debt to the charter capital of the enterprise, ensuring compliance with the following requirements:

a) Meeting the financial safety ratios of the enterprise; complying with the provisions of the law on credit and the law on corporate bonds;

b) In cases where real estate trading enterprises borrow from credit institutions and issue corporate bonds to implement real estate projects that have been approved by competent state agencies to be the main investors, the total debt from borrowing from credit institutions, corporate bond debt, and the charter capital must comply with the regulations for each project not exceeding 100% of the total investment capital of that project;

c) The total ratio of debt from borrowing from credit institutions and corporate bond debt to implement projects must not exceed four times the charter capital of the enterprise for each real estate project with land use area under 20 hectares, and not more than 5.67 times the charter capital of the enterprise for each real estate project with land use area of 20 hectares or more.

2. The charter capital of real estate trading enterprises shall be determined according to the provisions of Clause 1, Article 6 of this Decree.

Article 6. Charter capital of real estate trading enterprises and total investment capital of real estate projects

1. The charter capital of real estate trading enterprises, when such enterprises are selected by competent state agencies as investors or main investors to implement real estate projects in accordance with the laws on investment, auction, bidding, housing, urban development, recognized as main investors of housing projects in accordance with the laws on housing, shall be based on:

a) The results of the financial report or the report on the equity item that has been audited within the year; if there is no result of the financial report or the report on the equity item that has been audited within the year, then the result of the financial report or the report on the equity item that has been audited of the previous year shall be used in accordance with the laws on enterprises, auditing, and accounting;

b) For enterprises established and operating for less than 12 months, the charter capital shall be determined based on the subscribed registered capital in accordance with the laws on enterprises.

2. The total investment capital for real estate projects shall be determined in accordance with the laws on investment.

Article 7. Small-scale real estate trading; not for business purposes and below small-scale

1. Individuals engaged in small-scale real estate trading must meet the following requirements:

a) Not subject to the requirement to establish an investment project in accordance with the laws on construction and housing;

b) Not subject to the case where the value exceeds 300 billion VND per contract and the number of transactions exceeds ten times in a year. In the case of one transaction in a year, the value is not counted.

2. Organizations and individuals selling houses, construction works, floor areas in construction works not for business purposes or selling, leasing, or leasing with purchase options houses, construction works, floor areas in construction works below small-scale include:

a) Individuals not subject to the requirement to establish an investment project in accordance with the laws on construction and housing;

b) Organizations not subject to the case where the value exceeds 300 billion VND per contract and the number of transactions exceeds ten times in a year. In the case of one transaction in a year, the value is not counted.

Article 8. Procedures for announcing future housing projects meeting conditions for sale and lease purchase

1. Before signing contracts for selling or lease purchasing future housing projects, the project investor must submit a notification letter to the provincial state management agency on real estate business regarding the future housing projects meeting conditions for sale and lease purchase, accompanied by one set of documents as prescribed in Clause 2 of this Article.

The notification letter from the project investor to the provincial state management agency on real estate business regarding housing projects meeting conditions for sale and lease purchase must include contents as stipulated in Appendix XV issued together with this Decree.

2. The documents shall consist of copies and presentation of original documents for verification, or electronic copies with legal validity, or certified copies of the following documents:

a) Documents as prescribed in Clause 2 and Point a, Point b of Clause 3 of Article 24 of the Law on Real Estate Business;

b) Minutes of acceptance of completion of construction of technical infrastructure facilities of the project according to the approved and authorized progress of the project under the laws on construction.

In case of apartment buildings or mixed-use buildings containing residential units, there must be minutes of acceptance of completion of construction of the foundation according to the laws on construction.

3. If the project investor has mortgaged future housing or part of the project or the entire project, the determination that the housing has been released from mortgage shall be carried out according to the provisions of Clause 2 of Article 183 of the Housing Law No. 27/2023/QH15.

4. Within fifteen days from the date of receipt of the notification letter accompanied by the documents as prescribed in Clauses 1 and 2 of this Article, the provincial state management agency on real estate business shall have the responsibility to check the conditions of future housing projects in real estate projects put into operation according to the Law on Real Estate Business and reply in writing to the investor about housing meeting conditions for sale and lease purchase; in cases where the conditions for sale and lease purchase are not met, the reasons must be clearly stated; at the same time, post the reply document on the portal for housing and real estate market information. The reply document from the provincial state management agency on real estate business to the investor regarding housing meeting conditions for sale and lease purchase must include contents as stipulated in Appendix XVI issued together with this Decree.

In case the provincial state management agency on real estate business does not reply within the prescribed time limit, the enterprise has the right to initiate litigation or appeal according to the law.

Article 9. Procedures for announcing land with technical infrastructure in real estate projects eligible for transfer to individuals for self-construction of housing

1. Before signing contracts for transferring land use rights with technical infrastructure in real estate projects to individuals for self-construction of housing, the project investor must submit a notification letter to the provincial state management agency on real estate business regarding land with technical infrastructure in real estate projects meeting conditions for transfer of land use rights to individuals for self-construction of housing, accompanied by documents as prescribed in Clause 2 of this Article.

2. The documents shall consist of copies and presentation of original documents for verification, or certified copies, or electronic copies with legal validity of the following documents:

a) Decision on investment orientation or approval of investment orientation or approval of investment of the real estate project by the competent state agency according to the laws on investment, construction, and housing;

b) Decision on approval of detailed planning or overall layout planning of the real estate project by the competent state agency according to the laws on construction and urban planning;

c) Construction permit for cases requiring issuance of construction permits by the competent state agency according to the laws on construction;

d) Notification of results of feasibility study report review for investment construction or Notification of results of design basis review by the competent state agency according to the laws on construction;

đ) Documents on acceptance of completion of investment construction of technical infrastructure facilities according to the laws on construction;

g) Certificate of land use rights for the area of land with technical infrastructure in real estate projects transferred for individuals to construct housing according to the laws on land.

3. Within fifteen days from the date of receipt of the notification letter accompanied by the documents as prescribed in Clauses 1 and 2 of this Article, the provincial state management agency on real estate business shall have the responsibility to check the conditions for land with technical infrastructure in real estate projects meeting conditions for transfer of land use rights to individuals for self-construction of housing according to the Law on Real Estate Business and reply in writing to the investor about land with technical infrastructure in real estate projects meeting conditions for transfer, in cases where the conditions for transfer are not met, the reasons must be clearly stated; at the same time, post the reply document on the portal for housing and real estate market information to publish the information.

In case the provincial state management agency on real estate business does not reply within the prescribed time limit, the enterprise has the right to initiate litigation or appeal according to the law.

Chapter III

PROCEDURES FOR TRANSFERRING REAL ESTATE PROJECTS

Article 10. Procedures for transferring all or part of a real estate project within the Prime Minister's authority to approve transfer

1. The transfer of all or part of a real estate project within the Prime Minister's authority to approve transfer shall be carried out in accordance with the provisions of Clause 1, Article 42 of the Law on Real Estate Business.

2. The project investor shall submit one set of documents including the papers (certified copies or original documents for verification or certified copies or electronic copies with legal effect) specified in Clause 3 and Clause 4 of this Article to the People's Committee of the province or the provincial state management agency on real estate business authorized by the People's Committee of the province where the project is located.

3. The documents of the project investor transferring the project include:

a) A written request from the project investor proposing permission to transfer all or part of the real estate project according to the model attached as Appendix XII to this Decree;

b) Decision on investment orientation or approval of investment orientation or investment approval of the real estate project issued by the competent state agency in accordance with the laws on investment, construction, and housing;

c) Written document from the competent state agency regarding the selection of investors or project investors in accordance with the laws on investment, auction, bidding, housing, and urban development; decision or document recognizing the project investor in cases where the project must go through the procedure of recognizing the project investor as prescribed by the laws on construction and housing;

d) Decision approving detailed planning or overall land use planning of the real estate project issued by the competent state agency in accordance with the laws on construction and urban planning;

đ) Papers on land including: Decision on land allocation, land lease, or permission to change land use purpose for implementing the project issued by the competent state agency in accordance with the laws on land. Field handover record of land for project implementation from the competent state agency to the project investor in accordance with the laws on land;

e) In case the project or part of the real estate project is mortgaged, there must be documents showing that the mortgage has been discharged in accordance with the laws;

g) Acceptance documents in accordance with the laws on construction regarding the completion of investment in building corresponding infrastructure works in accordance with progress, design, detailed planning, and approved project content for the transfer of the entire investment project in constructing infrastructure structures;

h) Confirmation from the tax authority that the project investor has fulfilled financial obligations related to land to the State and relevant documents showing that the investor has paid fees and charges related to land (if any) as stipulated in Clause 3, Article 40 of the Law on Real Estate Business;

i) For state-owned enterprises transferring all or part of a real estate project, there must be documents proving compliance with the laws on managing and using state capital invested in production and business at enterprises;

k) Report on the implementation process of the real estate project up to the date of transfer according to the model attached as Appendix XIII to this Decree;

l) Agreement on the transfer of all or part of the real estate project between the transferor and transferee (if any).

4. The documents of the project transferee include:

a) Certificate of Enterprise Registration or Investment Registration Certificate or documents proving the establishment of an organization in accordance with the laws on enterprises and investment;

b) Financial statements in accordance with point a, Clause 1, Article 6 of this Decree;

c) Written commitment to continue implementing investment and business in accordance with the approved project content;

d) Documents proving compliance with conditions as stipulated in Clause 5, Article 40 of the Law on Real Estate Business.

5. Within 45 days from the date of receiving complete valid documents, the People's Committee of the province shall be responsible for soliciting opinions from the Ministry of Construction and other relevant ministries, sectors, and agencies and organizing the review of the transfer documents in accordance with Clause 9 of this Article, and submitting to the Prime Minister for consideration and decision. The model of the decision allowing the transfer shall be implemented according to the model attached as Appendix XIV to this Decree.

In case the Prime Minister delegates to the People's Committee of the province, the People's Committee of the province shall base its decision on the opinions of the ministries and sectors to consider and decide to allow the partial transfer of the project.

6. Within a maximum period of 60 days from the date of the competent authority's decision allowing the transfer of the project or part of the real estate project, the transferor and transferee shall be responsible for completing:

a) Signing the transfer contract according to the model attached as Appendix IX or Appendix X to this Decree. The project or part of the project transfer contract is simultaneously the land use right transfer contract of the transferred project or part of the project, except in cases of annual land rental where the land use right transfer is carried out in accordance with the laws on land;

b) Handing over the transferred project or part of the project and all project documents of the transferred project or part of the project from the transferor to the transferee; the handover between the transferor and transferee must be documented in writing.

After the expiration of the above period, if the parties fail to complete the requirements of this clause and do not obtain an extension of time for implementing the decision allowing the transfer of the project or part of the real estate project from the competent authority, then such decision will become invalid.

7. The transferee of the project may continue to implement the project or part of the project after receiving the handover of the project or part of the real estate project and fulfilling tax, fee, and charge payment obligations (if any).

8. The transferor and transferee of the project or part of the real estate project shall be responsible for registering land in accordance with the laws on land.

9. Within fifteen days from the date of receipt of the document and dossier for comments from the People's Committee of the province, the agencies requested to provide comments shall comment on the contents within their respective administrative management responsibilities as stipulated in Articles 4, 39, and 40 of the Law on Real Estate Business.

Where the transferee is an economic organization with foreign investment capital as prescribed in Clause 4, Article 10 of the Law on Real Estate Business, and such organization transfers a project or part of a real estate project located in areas including islands; border communes, wards, towns; coastal communes, wards, towns, and other areas affecting national defense and security as prescribed by laws on national defense and security, then the People's Committee of the province where the project is located must seek opinions from the Ministry of National Defense and the Ministry of Public Security regarding the assurance of national defense and security.

Article 11. Procedures for transferring all or part of a real estate project within the authority of the provincial People's Committee to permit such transfer

1. The transfer of all or part of a real estate project within the authority of the provincial People's Committee to permit such transfer shall be carried out in accordance with the provisions of Clause 2, Article 42 of the Law on Real Estate Business.

2. The project investor shall submit one set of documents comprising papers (certified copies and original copies for verification or certified copies or electronic copies with legal validity) as prescribed in Clauses 3 and 4, Article 10 of this Decree to the People's Committee of the province or the provincial state management agency for real estate business authorized by the People's Committee of the province.

3. Within thirty days from the date of receiving complete and valid documents, the People's Committee of the province shall be responsible for seeking opinions from relevant local agencies and organizing the review of the transfer dossier in accordance with the provisions of Clause 5 of this Article, and examining and deciding. The model decision permitting the transfer shall be implemented according to the model attached as Appendix XIV issued together with this Decree.

In case the provincial state management agency for real estate business authorized by the People's Committee of the province, within thirty days from the date of receiving valid documents, the provincial state management agency for real estate business shall be responsible for seeking opinions from relevant local agencies and organizing the review of the transfer dossier in accordance with the provisions of Clause 5 of this Article, and submitting it to the People's Committee of the province for examination and decision.

4. Seeking opinions, reviewing the dossier, and deciding to permit the transfer of all or part of a real estate project shall be carried out in accordance with the provisions of Clause 3 of this Article.

5. Within fifteen days from the date of receipt of the document and dossier for comments from the People's Committee of the province or the provincial state management agency for real estate business, the agencies requested to provide comments shall comment on the contents within their respective administrative management responsibilities as stipulated in Articles 4, 39, and 40 of the Law on Real Estate Business.

Where the transferee is an economic organization with foreign investment capital as prescribed in Clause 4, Article 10 of the Law on Real Estate Business, and such organization transfers a project or part of a real estate project located in areas including islands; border communes, wards, towns; coastal communes, wards, towns, and other areas affecting national defense and security as prescribed by laws on national defense and security, then the People's Committee of the province where the project is located must seek opinions from the Ministry of National Defense and the Ministry of Public Security regarding the assurance of national defense and security.

6. After the People's Committee of the province issues a decision permitting the transfer of all or part of a real estate project, the parties concerned shall implement the provisions of Clauses 6, 7, and 8 of Article 10 of this Decree.

Chapter IV

REAL ESTATE BUSINESS CONTRACT

Article 12. Types of real estate business contracts

1. Real estate business contracts specified in Clause 1, Article 44 of the Law on Real Estate Business must be established and concluded strictly in accordance with the provisions of Clauses 2 and 3 of this Article.

2. Standard contracts in real estate business stipulated in this Decree include:

a) House purchase contracts, house lease-purchase contracts according to the model at Appendix I issued together with this Decree;

b) House rental contracts according to the model at Appendix II issued together with this Decree;

c) Construction project purchase contracts, construction project lease-purchase contracts; purchase contracts for construction floor area, lease-purchase contracts for construction floor area in construction projects serving tourism and accommodation purposes according to the model at Appendix III issued together with this Decree;

d) Construction project rental contracts, rental contracts for construction floor area in construction projects serving tourism and accommodation purposes according to the model at Appendix IV issued together with this Decree;

đ) Purchase contracts, lease-purchase contracts for construction projects; purchase contracts, lease-purchase contracts for construction floor area in construction projects serving educational, healthcare, sports, cultural, office, commercial, service, industrial purposes and mixed-use construction projects according to the model at Appendix V issued together with this Decree;

e) Rental contracts for construction projects, rental contracts for construction floor area in construction projects serving educational, healthcare, sports, cultural, office, commercial, service, industrial purposes and mixed-use construction projects according to the model at Appendix VI issued together with this Decree;

g) Contracts transferring land use rights with technical infrastructure in real estate projects according to the model at Appendix VII issued together with this Decree;

h) Lease contracts, sublease contracts for land use rights with technical infrastructure in real estate projects according to the model at Appendix VIII issued together with this Decree;

i) Contracts transferring entire real estate projects according to the model at Appendix IX issued together with this Decree;

k) Contracts transferring part of real estate projects according to the model at Appendix X issued together with this Decree;

l) Contracts transferring house purchase contracts, house lease-purchase contracts, construction project purchase contracts according to the model at Appendix XI issued together with this Decree.

3. Real estate businesses when establishing, concluding, and implementing standard contracts in real estate business must comply with the following principles:

a) They may use real estate business contracts to conclude after publicly disclosing them in accordance with the provisions of Article 6 of the Law on Real Estate Business;

b) They must comply with and execute the inspection and supervision activities of competent authorities managing real estate business regarding the implementation of regulations and principles on public disclosure, use, establishment, conclusion, and implementation of standard contracts in real estate business as prescribed by laws on real estate business;

c) Real estate businesses have the obligation to strictly comply with and not alter the contents in real estate business contracts issued according to the models at the Appendices specified in Clause 2 of this Article. In cases where the standard contracts contain provisions allowing real estate businesses to supplement contract contents, such supplementation must ensure compliance with the principle of not violating legal prohibitions, not contravening social morals, and not changing or contradicting the existing contents in the standard contracts;

d) In cases where there are amendments or supplements to publicly disclosed real estate business contracts, real estate businesses have the responsibility to simultaneously disclose the amended and supplemented contracts in accordance with the provisions of Article 4 of this Decree before using them to conclude contracts;

đ) In cases where real estate business contracts used by businesses to conclude with customers contain contents that do not match the contents of the standard contracts, do not conform to the publicly disclosed standard contracts as prescribed in this Decree, and do not comply with the principles stipulated in Clause 3 of this Article, they will be subject to violations as prescribed by relevant laws and bear responsibility for compensating damages arising from the customers who have signed contracts due to their violations. If disputes arise, the parties involved shall resolve them based on the provisions of the Civil Code and relevant laws;

4. In cases where real estate business contracts are concluded through electronic transactions and digital signatures in accordance with the provisions of laws on real estate business, they shall be implemented in accordance with the provisions of laws on electronic transactions.

Article 13. Procedures, formalities, and documents for transferring real estate business contracts

1. The transfer of real estate business contracts shall be carried out in accordance with the provisions of the Law on Real Estate Business and this Decree.

2. The procedures, formalities, and documents for transferring real estate business contracts shall be carried out as follows:

The contract for transferring the contract must be established in eight copies (two copies retained by the project investor, one copy submitted to the tax authority, one copy submitted to the agency responsible for issuing the Certificate of Title, two copies retained by the transferring party, two copies retained by the receiving party); if the contract for transferring the contract is notarized, an additional copy must be kept at the notary organization.

b) One of the parties shall submit the application file to the notary organization with its headquarters in the province or centrally-administered city where the real estate is located to request certification of the contract for transferring the contract. The application file for notarization includes: original copies of the contract for transferring the contract; original copies of the initial contract signed with the project investor, in cases where one or several houses or construction works are transferred from the total number of houses or construction works purchased or leased under the contract, the original contract or appendix of the contract showing the houses or construction works transferred must be submitted; proof of payment made by the transferring party to the project investor; original or certified true copy of the handover record of the house or construction work (if any), and other documents (if any) as prescribed by laws on notarization and authentication.

If the transferring party is a business entity engaged in real estate business, it is not mandatory to notarize the contract for transferring the contract as prescribed in this point, except when the parties have a need to notarize it.

c) After completing the notarization process (except in cases where notarization is not required) as prescribed in point b of this clause, the parties transferring the contract shall be responsible for paying taxes, fees, and charges related to the transfer of the contract in accordance with the laws on taxes, fees, and charges.

đ) Within five working days from the date of receipt of all documents as prescribed in point d of this clause, the real estate project investor shall be responsible for checking and confirming the contract for transferring the contract and shall not collect any business fee. After confirming the contract for transferring the contract, the investor retains two original copies of the contract for transferring the contract and returns six copies of the contract for transferring the contract along with the received documents as prescribed in point d of this clause to the party submitting the documents.

e) From the date the contract for transferring the contract is confirmed by the investor, the receiving party of the contract for transferring the contract shall continue to perform the rights and obligations of the buyer or lessee with the investor according to the signed contract and the contract for transferring the contract.

g) In cases of transferring the contract from the second time onwards, the procedures prescribed in this Article shall be followed, and the transferring party must submit complete files of previous transfers when processing the transfer.

h) The receiving party in the last signed contract for transferring the contract, as prescribed in this Article, shall be issued the Certificate of Title by the competent state agency in accordance with the laws on land.

Chapter V

REAL ESTATE SERVICE BUSINESS

Section 1

REAL ESTATE TRADING FLOOR

Article 14. Registration of real estate trading floor operations

1. Organizations and individuals establishing a real estate trading floor shall submit the file as prescribed in Clause 2 of this Article to the provincial-level state management agency for real estate business where the main office of the real estate trading floor is located (submitting the file directly, sending the file through the postal service, or submitting the file online) to obtain a business operation permit.

2. The registration file includes:

a) Application for registration of real estate trading floor operations (according to the model in Appendix XVII).

b) Certificate of Enterprise Registration as prescribed in Clause 5 of Article 9 of the Law on Real Estate Business.

c) Documents proving the right to use the office of the real estate trading floor.

d) Copy of the certificate of completion of the course on managing and operating a real estate trading floor for the person managing and operating the real estate trading floor.

đ) List of real estate brokers who have been granted a professional practice certificate.

3. Within fifteen working days from the date of receipt of all documents, the provincial-level state management agency for real estate business shall be responsible for reviewing the file and issuing a Business Operation Permit for the real estate trading floor (according to the model in Appendix XVIII); in case of refusal, a written notification with reasons must be provided. After issuing the Business Operation Permit, the provincial-level state management agency for real estate business shall report to the Ministry of Construction to publish information about the real estate trading floor on the Ministry's electronic website. Information about the real estate trading floor includes: name of the real estate trading floor; name of the enterprise establishing the real estate trading floor; name of the person managing and operating the real estate trading floor; address and contact phone number of the real estate trading floor.

In case there is a change in name, registered office address, legal representative, or other contents in the registration dossier for business operation, within 10 working days from the date of the decision to change, the real estate trading floor must submit a written document to the provincial state management agency on real estate business where the real estate trading floor was established and operates to obtain a new Business Registration Certificate. The provincial state management agency on real estate business shall report to the Ministry of Construction for management and publication of information.

Article 15. Conditions for the operation of real estate trading floors

1. Real estate trading floors must meet the conditions stipulated in Article 55 of the Law on Real Estate Business when operating.

3. Real estate trading floors must have a stable name and transaction address for over 12 months and technical equipment that meets the requirements based on the content of their operations.

4. Real estate trading floors are responsible for implementing measures to prevent money laundering and reporting on anti-money laundering in accordance with the laws on anti-money laundering.

Article 16. Contents of the operation of real estate trading floors

1. Real estate trading floors operate according to the provisions set out in Article 56 of the Law on Real Estate Business.

2. Confirmation of real estate transactions shall be carried out as follows:

a) Real estate transactions conducted through direct forms shall be confirmed in writing. In cases where real estate transactions are conducted through electronic forms, electronic confirmation shall be implemented in accordance with the Law on Electronic Transactions, e-commerce laws, and relevant laws;

b) The confirmation document for real estate transactions must include signatures of representatives of the enterprise being the project developer or owner of the real estate, representatives of the real estate trading floor, individual brokers, and seals of the corresponding enterprises according to the transaction forms.

Article 17. Management of real estate trading floor activities

1. The provincial state management agency on real estate business has the responsibility to manage, supervise, and inspect the activities of real estate trading floors in accordance with point a, Clause 1, Article 60 of the Law on Real Estate Business.

2. Issuance of the Business License is carried out in accordance with Article 14 of this Decree.

3. Reissuing the Business License of real estate trading floors

a) The provincial state management agency on real estate business will reissue the Business License in cases where the license is lost, torn, burned, destroyed in another form upon request of the real estate trading floor or when there is a change in information of the real estate trading floor as stipulated in Clause 3, Article 14 of this Decree;

b) The real estate trading floor must submit a dossier to the provincial state management agency on real estate business where it was granted the license (submitting the dossier directly, sending the dossier via postal service, or submitting the dossier online) to obtain a reissued business license. The dossier for reissuing the business license includes: Application for reissuing the business license (in accordance with Form XIX); Business License (in case of damage).

c) After receiving a complete and valid dossier, the provincial state management agency on real estate business has the responsibility to check the dossier and issue a reissued business license (in accordance with Form XX) within five working days. The reissued business license retains the original license number to maintain linkage with files and data.

In case of refusal to reissue, the provincial state management agency on real estate business must notify in writing and clearly state the reasons for refusal.

4. Revocation of the Business License, termination of real estate trading floor activities

The provincial state management agency on real estate business issues a decision to revoke the Business License and terminate the activities of the real estate trading floor in the following cases:

a) In case the real estate trading floor violates the provisions of Article 8 of the Law on Real Estate Business and related laws. Within seven working days from the date of revoking the Business License, the provincial state management agency on real estate business has the responsibility to notify in writing the Ministry of Construction and the tax authority at the place of registration about the revocation of the Business License of the real estate trading floor.

Within 60 days from the date of revoking the Business License, the real estate trading floor must pay all outstanding taxes; settle all other debts; complete procedures to terminate contracts signed with employees; for service contracts signed with customers but not yet completed, they must reach an agreement with customers regarding the implementation of those service contracts.

Before terminating its activities, the real estate trading floor must pay all outstanding taxes; settle all other debts; complete procedures to terminate contracts signed with its employees; complete all service contracts signed with customers. In case it cannot complete the service contracts signed with customers, it must reach an agreement with customers regarding the implementation of those service contracts.

5. Suspension of real estate trading floor activities

a) The provincial state management agency for real estate business shall issue a decision to suspend the operation of a real estate trading floor in cases where the real estate trading floor does not meet the conditions for operation as prescribed by law or where the trading floor voluntarily suspends its operations.

b) In cases where a real estate trading floor voluntarily suspends its operations, it must report in writing about the suspension and resumption of operations to the provincial state management agency for real estate business, tax authority, and local statistical office at the place of registration and the location of the trading floor's headquarters at least ten working days before the date of suspension or resumption of operations. The period of suspension shall not exceed two years.

c) Within seven days from the date of issuing the decision to suspend the operation of the real estate trading floor, the provincial state management agency for real estate business shall be responsible for notifying in writing the Ministry of Construction, the local tax authority at the place of registration about the suspension of the real estate trading floor's operations.

d) Reports on the suspension of operations shall include the following main contents: Name of the real estate trading floor; number, date, month, year of issuance of the Business License; address of the headquarters; duration of suspension, start and end dates of the suspension period; reasons for suspension; reports on debt settlement, resolution of service contracts with customers and signed contracts with brokers and employees working at the real estate trading floor.

đ) During the period of suspension, the real estate trading floor must pay all outstanding taxes, continue to settle other debts, complete the execution of contracts signed with brokers and employees, except in cases where there are other agreements.

For service contracts already signed with customers but not yet completed, agreement with the customer regarding the execution of such service contracts must be reached.

Section 2

PROVISIONS ON REAL ESTATE BROKERS AND ISSUANCE OF LICENSES FOR REAL ESTATE BROKERAGE PRACTICE

AND ISSUANCE OF LICENSES FOR REAL ESTATE BROKERAGE PRACTICE

Must have material and technical infrastructure appropriate to the content of the business activities of real estate service enterprises.

1. Material infrastructure is the location and headquarters of the enterprise; having a stable name and address for transactions for over twelve months.

2. Technical infrastructure is the system of machinery and equipment serving the enterprise's activities.

Article 19. Organization of examinations and issuance of licenses for real estate brokerage practice

1. People's Committees of provinces and centrally governed cities (hereinafter referred to as Provincial People's Committee) shall be responsible for organizing examinations (abbreviated as examination) and issuing licenses.

2. The provincial state management agency for real estate business shall receive applications for examination registration from candidates (according to the form in Appendix XXI issued together with this Decree) and issue a written request for participation in the examination to the Provincial People's Committee. The Provincial People's Committee shall organize the examination based on the number of candidates registered and the actual situation.

3. Each year, the Provincial People's Committee shall be responsible for organizing at least one examination, depending on the number of candidates registered (a minimum of ten candidates for each examination).

In cases where there are insufficient candidates to organize an examination (less than ten candidates) and candidates who have submitted applications wish to take the examination at another locality's examination board, the Provincial People's Committee shall send a letter to those candidates to participate in the examination of another province or city.

4. At least thirty days prior to the organization of the examination, the Provincial People's Committee shall be responsible for announcing on the provincial People's Committee's electronic information website the plan for organizing the examination, examination conditions, application forms, time, location, and other relevant information related to the examination.

5. Examination fees:

a) Candidates must pay examination fees to the Provincial People's Committee or according to the announcement of the Provincial People's Committee.

b) The level of examination fees shall be determined by the Chairman of the Provincial People's Committee for each examination based on the number of candidates registered to cover the costs of organizing the examination, upon the proposal of the Chairman of the Examination Board.

c) The Examination Board may use examination fees to cover expenses related to organizing the examination and remuneration for members of the Examination Board. Settlement of examination fees must be approved by the Chairman of the Examination Board.

Article 20. Examination Board for issuing real estate brokerage practice certificates (referred to as the examination board)

1. The examination board shall be established by the Chairman of the Provincial People's Committee for each examination period. The examination board shall have at least five members, including the following components:

a) The Chairman of the examination board is a leader of the Provincial People's Committee;

b) The Vice-Chairman of the examination board is a leader of the provincial state management agency on real estate business;

c) Members of the examination board shall be proposed by the leader of the provincial state management agency on real estate business, including representatives from the provincial state management agency on real estate business; representatives from the Real Estate Association (if any); representatives from the Real Estate Brokers Association (if any); lecturers from training institutions with functions of training and enhancing knowledge in real estate brokerage (if any); real estate brokers from enterprises operating real estate brokerage services and real estate trading floors (if any) or other experts (if any).

2. The examination board is responsible for directing and urging the implementation of the examination according to the plan and legal regulations.

3. Powers and responsibilities of the Chairman of the examination board:

a) Submitting to the Provincial People's Committee for approval the examination organization plan, examination rules, test questions, and answers;

b) Checking the budget estimate for organizing the examination and the fee level for candidates, submitting to the Chairman of the Provincial People's Committee for approval;

c) Approving the examination results including the list of candidates who meet the requirements and the list of candidates who do not meet the requirements;

d) Reporting to the Chairman of the Provincial People's Committee on the examination organization process;

đ) Directing the examination organization process directly and being responsible before the Chairman of the Provincial People's Committee and the law for the examination organization results;

e) Approving the final account of the examination organization expenses.

4. Members of the examination board must participate in all activities of the examination period, comply with the work assignment of the Chairman of the examination board, receive remuneration, and be responsible before the Chairman of the examination board for the assigned tasks.

Article 21. Tasks and powers of the examination board

1. Issuing the examination organization plan, deciding on adjustments to the plan when necessary; issuing examination rules and related materials; organizing the compilation of test questions and answers for the examination period according to the guidelines of this Decree.

2. Preparing the budget estimate for organizing the examination and estimating the examination fee level for candidates based on ensuring sufficient costs for the examination and state policies.

3. Organizing the acceptance and verification of candidate files, compiling lists of eligible candidates and ineligible candidates.

4. Organizing the examination, invigilation, marking, and re-marking examination results for candidates requesting re-examination under the direct guidance and management of the Chairman of the examination board according to the approved plan by the Provincial People's Committee; summarizing examination results including: examination organization process report; list of candidates who meet the requirements and list of candidates who do not meet the requirements.

Article 22. Content and Examination Questions

1. Individuals participating in the examination to obtain a certificate must take the following compulsory subjects, except as provided for in Clause 2 of this Article:

a) Basic knowledge section, including: laws related to real estate business; laws related to land; investment laws; civil laws related to real estate business activities; notarization laws related to real estate business activities; enterprise laws related to real estate business activities; tax and fee laws in real estate transactions; anti-money laundering laws in real estate business; administrative violation handling laws related to real estate business activities; general overview of the real estate market; real estate prices and real estate price consulting.

b) Professional knowledge section, including: Overview of real estate brokerage services; brokerage service procedures and skills; practical situation resolution.

2. For candidates holding valid foreign-issued real estate broker certificates, they only need to take the basic knowledge section and are exempt from the professional knowledge section.

3. The examination questions must be consistent with the content of the framework training program for real estate brokerage knowledge enhancement issued by the Ministry of Construction.

4. The examination questions must be managed under confidential document regulations.

Article 23. Examination Form, Duration, and Language

1. Examination form and duration:

a) Basic knowledge section: Written examination, multiple-choice examination, or a combination of both forms, with a duration of 120 minutes;

b) Professional knowledge section: Written examination, multiple-choice examination, or a combination of both forms, with a duration of 120 minutes.

2. Examination language: Vietnamese (candidates who are foreigners may use interpreters).

Article 24. Candidates for the Examination

Candidates include: Vietnamese citizens, overseas Vietnamese residing abroad according to the provisions of the nationality law, and foreigners meeting the conditions for taking the examination as stipulated in Articles 25 and 26 of this Decree.

Article 25. Conditions for Participation in the Examination

Candidates must meet the following conditions:

1. Having full capacity for civil conduct, not currently being pursued for criminal responsibility or serving a prison sentence.

2. Graduated from high school or higher.

3. Holding a certificate confirming completion of the management training course on enhancing knowledge for real estate brokerage practice.

4. Submitting the application registration form and examination fees to the People's Committee of the province.

Article 26. Application Registration Documents for the Examination Include

1. One application form for registration to participate in the examination with a color photograph measuring 4x6 cm taken within six months prior to the date of application (according to the model at Appendix XXI of this Decree).

2. One certified copy of the Identity Card or Citizen Identification Card or Citizen Card as prescribed by the law on identification; documents proving Vietnamese nationality or confirmation as a Vietnamese origin person as prescribed by the nationality law or passport (or a certified copy for verification against the original).

3. One certified copy of the Certificate confirming completion of the training course on enhancing knowledge for real estate brokerage practice.

4. A certified copy of the graduation certificate from high school (or equivalent) or higher.

5. Two color photographs measuring 4x6 cm taken within six months prior to the date of application, two envelopes with stamps bearing the name, phone number, and address of the recipient.

Article 27. Registration for Examination

1. Individuals who need to obtain a certificate may register for the examination nationwide.

2. Annually, individuals who need to obtain a certificate must submit an application for registration in accordance with Clause 3, Article 19 of this Decree.

3. Prior to each examination period, candidates must directly submit one set of registration documents in accordance with Article 26 and examination fees in accordance with Point a, Clause 5, Article 19 of this Decree. The time and location for submitting the documents shall be announced by the Provincial People's Committee.

Article 28. Passing Examination Requirements

1. A passing examination is one that meets the following criteria:

a) The basic knowledge section score is 70 points or higher (out of 100 points);

b) The specialized knowledge section score is 70 points or higher (out of 100 points).

2. Candidates whose examinations meet the requirements stipulated in Clause 1 of this Article are eligible to receive a certificate.

Article 29. Approval and Announcement of Examination Results

1. The Chairman of the Examination Board shall approve the examination results for each examination period based on the marking results of each section.

2. Examination results shall be announced at the Provincial People's Committee and on the website of the Provincial People's Committee.

3. Within ten days from the announcement of the examination results, if candidates request a re-marking, they must submit a request to the Provincial People's Committee or according to the announcement of the Provincial People's Committee. The Examination Board will organize the re-marking and report to the Chairman of the Provincial People's Committee to approve the supplementary list of candidates meeting the requirements.

4. Within twenty days from the announcement of the examination results, the Provincial People's Committee will organize a retake examination for candidates who did not meet the requirements. Candidates who failed in any section must retake that section. Each examination period will only have one retake session, and candidates do not need to pay retake examination fees.

Article 30. Preservation of Files and Documents

1. The Provincial People's Committee is responsible for preserving files and documents related to each examination period as follows:

a) Preserve for five years: Examination organization-related files (Decision establishing the Examination Board; examination regulations; questions and answers for each subject; list of invigilators and other relevant documents); examination marking-related files: List of candidates, list of markers; candidate examination papers; files of candidates eligible to take the examination; summary tables of examination results, summary tables of re-marking results (if applicable) for each subject of candidates;

b) Preserve for three years the files of candidates who did not meet the requirements and candidates who registered but did not participate in the examination.

2. The Provincial People's Committee will store the files of individuals who received certificates for ten years from the date of issuance of the certificate.

Article 31. Issuance of Real Estate Brokerage Practice Certificate

1. Individuals who pass the examination in accordance with Article 28 and have complete files in accordance with Article 26 of this Decree shall be issued a certificate.

2. Certificate Issuance Procedure:

a) The Chairman of the Examination Board reports to the Chairman of the Provincial People's Committee on the examination organization process and approves the examination results;

b) Based on the report of the Chairman of the Examination Board and the approved examination results by the Chairman of the Examination Board, the Chairman of the Provincial People's Committee approves the list of individuals eligible to receive certificates (according to Appendix XXII of this Decree). Within ten working days from the date of receiving all valid applications, the Provincial People's Committee will organize printing and issuing the certificates;

c) The Provincial People's Committee is responsible for retaining the files of individuals who received certificates in accordance with Clause 2, Article 30 of this Decree.

3. Certificate issuance costs shall be in accordance with laws on fees and charges, individuals must pay directly at the Provincial People's Committee or according to the announcement of the Provincial People's Committee.

4. The certificate is valid nationwide for five years from the date of issuance.

5. The certificate format is specified in Appendix XXIII of this Decree.

6. Certificates will be delivered to individuals at the Provincial People's Committee or according to the announcement of the Provincial People's Committee. In cases where certificate holders cannot collect them personally, they can be sent via postal service.

7. Individuals holding certificates must comply with the following provisions:

a) Not to alter or erase any content of the certificate;

b) Not to rent, lend, or allow other organizations or individuals to use their name and certificate to engage in real estate brokerage activities;

c) Not to use it for purposes not prescribed by law.

8. Quarterly (before the 15th day of the first month of each quarter), the Provincial People's Committee is responsible for reporting to the Ministry of Construction on the examination organization situation and the list of individuals eligible to receive certificates as stipulated in the detailed implementation decree of certain provisions of the Law on Real Estate Business regarding the construction and management of information systems and databases on housing and the real estate market. At the same time, the list of certificate recipients will be posted on the website of the Provincial People's Committee (according to Appendix XXVI of this Decree).

9. In case the certificate is lost, torn, burned, or destroyed due to natural disasters or force majeure, a new certificate will be issued. The certificate number remains the same as the original (according to Appendix XXIV). The validity period of the certificate is five years from the date of the first issuance. Individuals requesting a replacement certificate must pay the fee as prescribed by laws on fees and charges to the Provincial People's Committee for preparing the replacement certificate. The application for a replacement certificate must be submitted to the Provincial People's Committee that issued the original certificate, including:

a) An application for a replacement certificate with a photo attached (according to Appendix XXVII);

b) Two 4x6 cm photos taken within six months of the submission date;

Within ten working days from the date of receiving all required documents as stipulated in Clause 9 of this Article, the Provincial People's Committee that issued the original certificate is responsible for reviewing the documents and issuing a replacement certificate.

Article 32. Provisions for Expired Certificates

1. Persons holding expired certificates shall not be permitted to continue practicing real estate brokerage.

2. Persons holding expired certificates, or those whose certificates are nearing expiration and wish to have their certificates renewed must take an examination according to the following provisions:

a) In the case of re-registering for the examination at the locality that issued the certificate, they only need to take the basic knowledge portion of the examination as stipulated in this Decree to obtain a new certificate with the old number, the certificate clearly stating on page 01 that it is the second or third issuance (according to Model XXV of this Decree).

b) In the case of registering for the examination at another locality, they must follow the procedures for taking the examination to obtain a new certificate but only need to take the basic knowledge portion.

3. The application dossier for the examination includes:

a) The dossier prescribed in Article 26 of this Decree;

b) The original expired certificate for cases where the certificate has already expired, or a certified copy for cases where the certificate has not yet expired.

4. Registration for the examination shall be conducted in accordance with Article 27 of this Decree.

5. Based on actual circumstances, the People's Committee of the province shall organize separate examinations for persons holding expired certificates or conduct examinations together with new applicants.

Article 33. Revocation of Real Estate Brokerage Certificates

1. A person holding a certificate will have their certificate revoked in the following cases:

a) The certificate holder loses civil capacity;

b) The certificate holder makes false declarations in the application dossier for obtaining the certificate;

c) The certificate is altered or tampered with;

d) The certificate holder lends or rents the certificate to others for practice;

đ) The certificate holder violates the provisions of Article 8 of the Law on Real Estate Business.

2. The People's Committee of the province or city that issued the certificate shall be responsible for revoking the certificate; if another competent authority revokes the certificate according to the law, that authority must notify in writing the People's Committee of the province or city that issued the certificate to implement the provisions of Clause 3 of this Article.

3. After issuing a decision to revoke the certificate, the People's Committee of the province that issued the certificate shall notify the person whose certificate is being revoked to return the certificate. At the same time, the People's Committee of the province shall announce on its electronic information website the name of the person whose certificate is being revoked and remove the name of the certificate holder from the electronic information website of the People's Committee of the province.

Chapter VI

MARKET REGULATION OF REAL ESTATE

Article 34. Evaluation of the Real Estate Market Situation to Serve as a Basis for Proposing Market Regulation

1. The Ministry of Construction shall carry out according to the Government's directives or based on real estate transaction price indices, transaction volume indices, and other economic and social statistical data related to the real estate market to evaluate the real estate market situation and propose measures to regulate the real estate market.

2. Research and compilation of reports evaluating the situation and proposing regulatory measures for the real estate market shall be carried out when the real estate transaction price index fluctuates by more than 20% over three months; or when there are other significant changes in the real estate market affecting economic and social stability.

Article 35. Proposing measures to regulate the real estate market

1. In accordance with Clause 2 of Article 34, within fifteen days, the Ministry of Construction shall take the lead and coordinate with other ministries, ministerial-level agencies, and provincial People's Committees to compile a report evaluating the situation and proposing measures to regulate the real estate market for submission to the Government for consideration and decision, including the contents stipulated in Clauses 2, 3, 4, 5, 6, and 7 of this Article.

2. The Ministry of Construction shall propose measures to regulate the real estate market related to policies and laws on urban planning, construction, housing, real estate business; programs and plans for urban development, housing, and real estate; product structure of real estate.

3. The Ministry of Planning and Investment shall propose measures to regulate the real estate market related to policies and laws on investment and bidding.

4. The Ministry of Natural Resources and Environment shall propose measures to regulate the real estate market related to policies and laws on land.

5. The Ministry of Finance shall propose measures to regulate the real estate market related to policies and laws on tax, finance, securities, and corporate bonds.

6. The State Bank of Vietnam shall propose measures to regulate the real estate market related to policies and laws on credit.

7. Provincial People's Committees shall review the implementation of real estate projects by localities and enterprises and propose measures to regulate the real estate market in their respective areas.

Article 36. Submitting to competent authorities for decision on measures to regulate the real estate market

1. The Ministry of Construction shall compile a report evaluating the situation and propose measures to regulate the real estate market for submission to the Government for consideration and decision.

2. Where measures to regulate the real estate market exceed the Government’s authority, the Ministry of Construction shall report to the Government for submission to the National Assembly or the Standing Committee of the National Assembly for consideration and decision.

Article 37. Implementing regulation of the real estate market

1. The Ministry of Construction shall take the lead and coordinate with other ministries, ministerial-level agencies, and provincial People's Committees to implement measures to regulate the real estate market according to the content decided by the competent authority as stipulated in Clauses 2 and 3 of Article 79 of the Law on Real Estate Business.

2. Regulation of the real estate market to ensure supply and demand, product structure of real estate, and suitability at different stages of the market shall also be implemented through the preparation, approval, and implementation of land use plans, construction plans, urban development programs, and housing development plans.

Chapter VII

IMPLEMENTING PROVISIONS

Article 38. Transitional Provisions

1. Real estate brokerage licenses issued before the effective date of the Law on Real Estate Business shall continue to be used until their expiration date as indicated on the license. If the license expires or if there is a need for a new issuance upon the effective date of this Decree, the provisions of this Decree must be followed.

2. For real estate projects where provincial People's Committees have already issued approvals or permits for developers to transfer land use rights with infrastructure under the form of subdivided plots for individuals to build houses according to the law prior to the effective date of the Law on Real Estate Business, such projects shall continue to be implemented according to the approvals of the provincial People's Committees but must comply with the provisions of Articles 28 and 29, Clauses 1, 2, 3, 4, 5, 7, and 8 of Article 31, Article 32 of the Law on Real Estate Business, and Article 9 of this Decree.

In cases where developers of real estate projects have submitted applications for permission to transfer land use rights with infrastructure under the form of subdivided plots for individuals to build houses before the effective date of this Decree but have not yet received approval from competent state agencies, the developers shall be responsible for supplementing missing documents in accordance with the Law on Real Estate Business and this Decree (if applicable) to obtain approval from competent state agencies.

3. The provisions of Clause 1 of Article 5 of this Decree shall not apply to existing debts from loans at financial institutions and corporate bond debts of real estate project developers that were incurred before the effective date of this Decree. In cases where the existing debts from loans at financial institutions and corporate bond debts of developers for each real estate project exceed the provisions of Clause 1 of Article 5 of this Decree, the developer may only raise funds through loans at financial institutions and corporate bonds to implement the project when they meet the provisions of Clause 1 of Article 5 of this Decree.

4. The provisions of point b of Clause 1 and point b of Clause 2 of Article 7 of this Decree shall not apply to individuals and organizations that have signed purchase contracts or received transfers of real estate, including future real estate in real estate projects, before the effective date of this Decree.

In cases where the project adjusts its investment policy according to the law after the effective date of the Law on Real Estate Business, it shall be implemented according to the adjusted investment policy of the project.

6. Contracts for the sale of commercial housing that have been transferred in accordance with the law on housing before the effective date of the Law on Real Estate Business can continue to be transferred, and the procedures for transferring the contract shall be carried out in accordance with the provisions of Article 13 of this Decree.

Article 39. Responsibility for Implementation

1. The Ministry of Construction shall be responsible for:

a) Directing, monitoring, and urging the implementation of the provisions of the Law on Real Estate Business and this Decree;

b) Chair the work and coordinate with relevant agencies to study and issue regulations on real estate business within their authority, or submit to competent authorities for issuance of such regulations;

c) Chair the work and coordinate with relevant agencies to conduct inspections, examinations, and handle violations in the field of real estate business as prescribed by law;

d) The Ministry of Construction shall research and develop transaction price indices for real estate that are suitable for the conditions and capabilities of data collection, statistics, and compilation regarding housing and the real estate market at each stage;

đ) Perform other tasks as stipulated in the Law on Real Estate Business, this Decree, or assigned by the Government or the Prime Minister;

2. The Ministry of Finance shall be responsible for establishing regulations and guidelines for the implementation of tax, fee, and charge provisions related to the real estate business sector;

3. Ministries and sectors shall be responsible for guiding, urging, and implementing the provisions of the Law on Real Estate Business and this Decree within their assigned scope, functions, and tasks;

4. Provincial People's Committees and municipal people's committees under the central government shall be responsible for:

a) Organizing and directing the implementation of the provisions of the Law on Real Estate Business and this Decree at the local level;

b) Determining areas where project investors can transfer land use rights with existing infrastructure to individuals for self-construction of housing as provided for in Clause 6, Article 31 of the Law on Real Estate Business;

c) Deciding to permit the transfer of the entire or part of a real estate project according to the provisions of the Law on Real Estate Business and this Decree. Chair the review and submit the application for transferring the entire or part of a real estate project within the Prime Minister's authority for approval, except in cases where the Prime Minister delegates the provincial People's Committee to decide on the partial transfer of a real estate project;

d) Organizing or directing the implementation of inspections, examinations, and handling of violations in the field of real estate business within their authority and as prescribed by law;

đ) Report to the Ministry of Construction on the real estate market situation in their jurisdiction every three months and as required by the Decree detailing certain provisions of the Law on Real Estate Business concerning the construction and management of information systems and databases on housing and the real estate market, or upon urgent request for the Ministry of Construction to compile and report to the Government and the Prime Minister;

e) Direct and organize the acceptance and processing of administrative procedures online within their jurisdiction on the provincial-level public service portal in accordance with the laws on the implementation of administrative procedures online;

g) Perform other tasks as stipulated in the Law on Real Estate Business, this Decree, or assigned by the Government or the Prime Minister;

Article 40. Effective Date

1. This Decree takes effect from August 1, 2024.

2. Decree No. 02/2022/NĐ-CP dated January 6, 2022, of the Government detailing the implementation of certain provisions of the Law on Real Estate Business shall cease to be effective from the date this Decree takes effect;

3. Repeal Clause 7, Article 4 of Decree No. 11/2013/NĐ-CP dated January 14, 2013, of the Government on urban development management, which was amended and supplemented by Clause 4, Article 4 of Decree No. 35/2023/NĐ-CP dated June 20, 2023, of the Government amending and supplementing certain provisions of decrees under the Ministry of Construction's regulatory domain;

4. Provisions in Government Decrees, Prime Minister's Decisions, and regulatory legal documents issued by ministries, sectors, and provincial people's committees before the effective date of this Decree that fall within the scope of regulation of this Decree and differ from the provisions of this Decree shall be implemented according to the provisions of this Decree;

5. In cases where Vietnamese citizens have been issued individual identification numbers and national population databases, investment registration databases, and enterprise registration databases are connected and operational, such individual identification numbers may be used instead of personal identity-related documents (Identity cards, Citizen Identity Cards, Citizen Cards, Passports, and other personal identification documents as prescribed by relevant laws) when conducting procedures related to real estate business activities as prescribed by the law on real estate business;

The Ministers, Heads of ministerial-level agencies, Heads of government agencies, and Chairmen of provincial and municipal people's committees under the central government shall be responsible for enforcing this Decree./.