New Real Estate Business Law: Tightening subdivision, land sale, and free real estate brokerage - Lang Son Electronic Newspaper

The Law on Real Estate Business 2023 has been passed and will take effect from January 1, 2025. In the recently published report, Ms. Duong Thuy Dung, CEO of CBRE Vietnam, shared some important new points.

Under the new regulations, individuals are allowed to practice as brokers as long as they have a real estate brokerage practice certificate and are registered to pay taxes. However, individuals are no longer allowed to practice independently but are required to practice in a service business enterprise. real estate.

New real estate business law: Tightening subdivision, land sale, and free real estate brokerage. Photo: Tienphong.vn

"The new regulation sets standards for brokers to practice, helping to professionalize brokerage activities. This change also helps avoid tax losses for the State," Ms. Dung commented.

The 2023 Law on Real Estate Business also adds type II and type III urban areas to the group of restricted land subdivision and sale, thereby tightening current regulations on land subdivision and sale.

"The tightening helps ensure healthy development for the real estate market, landscape and urban development," said Ms. Dung. In addition, the new regulation also specifies procedures for investors to have a basis for transferring.

Specifically, before transferring land use rights, the project investor must have a written notice of eligibility for land use rights sent to the competent authority.

Within 15 days, the competent authority shall respond on whether or not the conditions for transfer in the form of dividing land into plots and selling them to individuals for self-construction of houses are met.

Source: https://baolangson.vn/luat-kinh-doanh-bat-dong-san-moi-siet-phan-lo-ban-nen-moi-gioi-bat-dong-san-tu-do-5004011.html