Tiếng Việt
TABLE OF CONTENTS
1. Legal regulations on real estate consulting services
2. Will I be fined if I do not establish a business when operating real estate consulting services?
1. Legal regulations on real estate consulting services
According to Article 74 of the 2014 Law on Real Estate Business, it is stipulated that:
“Article 74. Real estate consulting services
1. Any organizations or individuals who wish to provide real estate counseling services must establish the enterprise.
2. Real estate counseling services contain:
a) Legal counseling on real estate;
b) Counseling on real estate creation and trading;
c) Counseling on real estate finance;
d) Counseling on real estate price;
dd) Counseling on real estate sale, transfer, lease, sublease or lease purchase agreement.
3. Counseling content and scope, rights and obligations of contracting parties, real estate counseling fees shall be agreed by contracting parties.
4. The real estate counseling service providers shall take responsibility for commitment in the agreement and compensation for damage caused by the enterprise.c ommitments in the contract and compensating for damages caused by their own faults.”
According to the above regulations, organizations and individuals wishing to conduct real estate consultancy services must establish an enterprise. Real estate consultancy service enterprises are responsible for fulfilling their commitments in the contract and compensating for damages caused by their own faults.
2. Is there a penalty for not establishing a business when doing real estate consulting services?
Pursuant to Point a, Clause 1, Article 58 of Decree 16/2022/ND-CP dated January 28, 2022, which stipulates administrative penalties for violations of construction regulations:
“Article 58. Violation of regulation on immovable property trading
1. A fine ranging from VND 100.000.000 to VND 120.000.000 shall be imposed on:
a) Failing to establish enterprises or cooperatives as required by the law when trading immovable properties”
Thus, not establishing a business when doing real estate consulting services may result in an administrative penalty of VND 100,000,000 to VND 120,000,000.