What do you need to know to start a real estate trading platform business?

Nội dung bài viết

Question: We are planning to establish a company operating a real estate exchange. Could you please advise on the procedures for setting up such a business? Additionally, are there any key points we should be aware of during the process?

Answer

1.To operate a real estate exchange, the following conditions must be met:

a. Legal entity requirement: Entities engaging in real estate services (including real estate exchange, …) must establish a business entity in accordance with the law on enterprises.

b. Requirements for exchange management and operation:

-Must have the legal capacity to manage a business in Vietnam under the Enterprise Law 2020.

-Must complete a certified training course on real estate exchange management and obtain a certificate of completion from a recognized training institution.

c. The legal representative of the business and the exchange manager are responsible for the exchange’s operations. The legal representative may also serve as the exchange manager.

d. The real estate exchange must be established and registered in compliance with applicable legal regulations.

e. The exchange must issue and publicly disclose the transaction procedures for real estate transactions conducted through it.

f. The exchange must have a registered, fixed business location with a stable name and address for at least 12 months. It must maintain adequate infrastructure and technical facilities to support its operations.

g. The exchange is required to implement anti-money laundering measures and submit reports in accordance with anti-money laundering regulations.

  Legal Basis: Clause 5, Article 9, and Article 55 of the 2023 Law on Real Estate Business; Article 15 of Decree 96/2024/ND-CP.

2. Procedures for establishing a real estate exchange business

Step 1: Registering the Company with the Department of Finance where the company is headquartered

Business registration procedures follow the Enterprise Law 2020 and Decree 01/2021/ND-CP.

Processing Time: Within 03 working days of receiving a complete application, the business registration authority will review and issue a decision.

Step 2: Applying for a real estate business license (As per Article 14 of Decree 96/2024/ND-CP)

Submit an application to the provincial real estate business authority where the company is headquartered (applications can be submitted in person, by mail, or online).

Within 15 working days of receiving a complete application, the authority will review and issue a decision.

If there are any changes to the company’s name, registered address, legal representative, or other registered details, the company must notify the authority within 10 working days to update its license.

3. Application dossier for a real estate business license (Clause 2, Article 14 of Decree 96/2024/ND-CP), the application must include:

-A completed application form for real estate exchange registration.

-The company’s Business Registration Certificate.

-Documents proving the right to use or ownership of the real estate exchange’s premises.

-A copy of the certificate of completion for the real estate exchange management training course of the exchange manager.

-A list of real estate brokers who have been issued valid real estate brokerage licenses.

4. Notes

Clause 2, Article 54 of the 2023 Law on Real Estate Business requires that the company name must include the phrase "Real Estate Exchange." The company name must not be identical to or easily confused with the name of another business providing the same services.

By ensuring compliance with these requirements, your business can establish and operate a legally recognized real estate exchange.

For reference: https://sblaw.vn/services/

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