Decree No. 02/2022/ND-CP dated January 6th, 2022 of the Government on elaboration of certain articles of the Law on Real Estate Trading

One of the noticeable new points of this Decree is the removal of requirement relating to legal capital with regard to real estate trading enterprises instead of applying the legal capital of VND 20 billion under the earlier regulations. This amendment is aimed at ensuring the consistence with the amendments at clause 2 Article 17 of the Law on Investment No. 61/2020/QH14 .

However, the investor of a real estate project must have an equity of not less than 20% of the total investment capital for the project with a land use scale of less than 20 hectares, not less than 15% of the total investment capital, for the project with a land use scale of 20 hectares or more.

The sale, transfer, lease, lease purchase, sublease of real estate and transfer of real estate projects must be made into a contract according to the forms promulgated at this Decree. Under the earlier regulations, these forms are only used for reference.

This Decree takes effect from March 1st, 2022 and replaces Decree No. 76/2015/ND-CP dated September 10th, 2015.