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blue-check There are changes in procedures for transfer of real estate project from January 1st, 2021

Official letter No. 721/BXD-QLN dated March 8, 2022 of the Ministry of Construction regarding guidelines on procedures for transfer of a part of a real estate project
Posted: 23/3/2022 2:51:25 PM | Latest updated: 30/3/2022 12:14:41 PM (GMT+7) | LuatVietnam: 5417 | Vietlaw: 553
VietlawOnline

For the period prior to the effective date of 2020 Law on Investment, competence to allow the transfer of the whole or a part of a real estate project shall be carried out according to Article 50 of 2014 Law on Real Estate Trading.

However, for the period after the effective date of 2020 Law on Investment (January 1st, 2021), this competence shall be based on the new regulations at point b clause 2 Article 75 of this Law. Accordingly, the transfer of real estate projects shall be carried out according to provisions provided for transfer of real estate projects according to the Law on Investment. If a project is granted the certificate of investment registration, the investor shall himself decide the transfer; In contrast, if the project is decided by provincial people’s committee or the Prime Minister, the level approving the investment is competent to decide the transfer.

Rules of application of laws upon settling the whole or a part of a real estate project are also specified at Article 9 of Decree No. 02/2022/ND-CP (takes effect from March 1st, 2022).

Ms Phuong Thao (VietlawOnline.com)
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Published Vietlaw's Newsletter No. 553
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Real estates trading