What is real estate broker license’s duration in Vietnam?

1. What is real estate broker license’s duration in Vietnam?

In Article 68 of the Law on Real Estate Business 2014, there are regulations on real estate broker license as follows:

1. An individual shall be granted broker license if they:

a) Have full capacity for civil acts;

b) Obtain at least upper-secondary graduation degree;

c) Have passed examination in real estate brokerage knowledge.

2. Broker license’s duration is 05 years.

3. The Minister of Construction shall providing guidance on grant of broker license.

Thus, according to the above regulations, a real estate broker license has a validity period of 5 years in Vietnam.

2. What are regulations on exam contents and questions for issuance of real estate broker license in Vietnam?

According to Article 6 of Circular 11/2015/TT-BXD, the exam contents and questions are as follows:

1. The examinee for the broker license is required to take the examination on the following contents, except for cases stipulated in Clause 2 of this Article.

The subjects of fundamental knowledge include:

- Law on real estate trading;

- Real estate market;

- Real estate investment;

- Anti-money laundering in real estate trading.

b) The subjects of professional knowledge include:

- Overview of real estate brokerage services;

- Real estate brokerage processes and skills;

- Resolution of a case study.

2. The candidate who holds an unexpired broker license granted by foreign authorities and the applicant for re-issuance of the broker license in substitute of his/her expired license are required to take the examination on fundamental knowledge and exempt from the examination on professional knowledge.

3. The examination organization unit shall compile and submit the set of exam questions and answers to the Chairperson of the board of examiners for approval.

4. The set of exam questions and answers shall be complied as guided in Annex 2 of this Circular. The exam questions must be inconformity with the contents of the framework program of training knowledge of real estate brokerage practice.

5. The set of exam questions shall b treated as confidential.

According to this Article, the exam content and questions for real estate broker licenses will be implemented in accordance with the above regulations in Vietnam.

3. What does application for the examination of granting real estate broker license in Vietnam comprise?

In Article 10 of Circular 11/2015/TT-BXD, the application for the examination of granting real estate broker license is as follows:

1. 01 application form with a 4x6cm color picture taken within 06 months prior to the application for examination (using the form stated in Annex 1 of this Circular);

2. 01 certified copy of ID Card (if the candidate is a Vietnamese citizen) or Passport (if the candidate is a foreigner) (or the copy enclosed with its original for comparison).

3. 01 certified copy of Certificate of completion of a real estate brokerage training course (if any);

4. Certified copy of high-school diploma (or equivalent) or;

5. 02 4x6cm color pictures taken within 06 month prior to the application for examination and 02 envelops having stamps and specifying the full name, telephone number and address of the receiver;

6. Certified copy and translation of broker license issued by foreign competent authorities (if the candidate is a foreigner or Vietnamese holder of unexpired broker incense issued by foreign competent authorities).

Thus, the application for the examination of granting real estate broker license in Vietnam includes the above documents.

Best Regards!