Local incorporation is required for foreigners to to undertake real estate investment.
"Article 3. Definitions
In this Law, the following terms are construed as follows:
1. Real estate business means the investment of capital to carry out construction, purchase, and transfer activities for sale or transfer; lease, sublease, lease purchase of real estate; real estate brokerage services; real estate trading floor services; real estate consulting or real estate management services for profit.
[...]
Article 10. Conditions of organizations and individuals doing real estate business
1. Organizations and individuals dealing in real estate must establish an enterprise or a cooperative (hereinafter referred to as an enterprise) and have a legal capital not lower than VND 20 billion, except for the case specified in Clause 1 of this Article. 2 This.
2. Organizations, households and individuals that sell, transfer, lease, lease-purchase real estate on a small and irregular scale are not required to establish an enterprise but must declare and pay tax in accordance with law. the law.
3. The Government shall detail this Article.[...]" (Law on Real Estate Trading No. 66/2014/QH13 of 25 November 2014 [google translation])
Law on Real Estate Trading No. 66/2014/QH13 of 25 November 2014 [google translation]
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